Värde Partners closes $2 bln for fund


Värde Partners has raised $2 billion in the final close of its latest fund focused on distressed and credit-oriented investments. Most of the pool’s LPs backed the firm’s previous funds.

PRESS RELEASE

MINNEAPOLIS, June 18, 2014 /PRNewswire/ — Värde Partners, a global alternative investment firm that invests in diversified products across a broad array of geographies, segments and asset types, today announced the final close of The Värde Fund XI (“Fund XI”). Fund XI closed with $2.0 billion of committed capital.

Värde believes that Fund XI is well positioned to seek distressed and credit-oriented investment opportunities in multiple markets. The Fund’s main areas of focus include U.S. corporates, European corporates, European sovereigns and financials, structured products, U.S. real estate, U.S. specialty finance, European specialty finance and global transportation.

“We are extremely pleased that so many of our historic limited partners continue to invest with Värde and have supported us over the last 20 years,” said George Hicks, Co-Founder and Co-CIO of Värde Partners.

Marcia Page, Co-Founder and Co-CIO said, “Our investors have always had confidence in our team and in our investment outlook, and we are honored that they have decided to continue to allocate to us.”

Approximately 80% percent of investors in Fund XI were investors in Värde’s predecessor funds. The investors in the funds represent a global pool of private capital sources, including state and corporate pensions, endowments, foundations, and funds of hedge funds in the United States, Europe and Asia.

About Värde Partners
Värde Partners, Inc. is an $8.5 billion global alternative investment firm that employs a credit-oriented, value-based approach to investing across a broad array of geographies, segments and asset types, including stressed and distressed corporate credit, structured products, residential mortgages, real estate, specialty finance, transportation and infrastructure. Founded in 1993 by George G. Hicks, Marcia L. Page and Gregory S. McMillan, Värde Partners has more than 170 employees. The firm has offices in Minneapolis, London and Singapore.

 

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