Värde Partners has raised more than $1.6 billion for its dislocation fund, beating its $1 billion target. The fund will invest in “opportunities presented by the historic market dislocations and economic disruption resulting from the Covid-19 pandemic.”
MINNEAPOLIS, NEW YORK, LONDON & SINGAPORE, November 10, 2020 – Värde Partners, a leading global alternative investment firm, today announced the final close of The Värde Dislocation Fund (the “Fund”) with more than $1.6 billion of commitments, exceeding its $1 billion target in five months of fundraising.
The Fund will look to invest in opportunities presented by the historic market dislocations and economic disruption resulting from the Covid-19 pandemic. It has a flexible, global mandate to pursue a broad universe of mispriced, stressed, and distressed credit.
Earlier this year, Värde also launched a $1 billion dislocation fund that was raised through a private banking platform. This brings the total capital Värde has raised specifically for dislocation strategies to more than $2.6 billion and follows on the heels of the close of Värde’s 13th flagship fund in December 2019.
“We believe the profound impact of Covid-19 has marked the start of a major, connected cycle,” said George Hicks, Co-Founder and Co-Chief Executive Officer. “Having established a deep expertise in credit over the past 27 years, we bring to bear our experience investing through many credit cycles to guide us as the crisis unfolds.”
“The unparalleled speed and disruption to society and markets has caused fundamental damage to the global economy. The range of potential outcomes remains incredibly wide, and we expect varying degrees of impact around the world,” said Ilfryn Carstairs, Co-Chief Executive Officer and Chief Investment Officer. “Our platform is well-suited to the opportunity in front of us, with the ability to pivot to markets and geographies where we see the best relative value.”
Jon Fox, President, added: “The strong demand for this strategy from a diverse, global investor base underscores expectations for a deep credit cycle. We are pleased to see 55% of commitments to this Fund come from new investors, notwithstanding it was raised entirely with no in-person meetings. We took innovative steps to engage investors through virtual platforms and were able to exceed our target in just five months.”
About Värde Partners
Värde Partners is a leading global alternative investment firm with roots in credit and distressed. Founded in 1993, the firm has invested $75 billion since inception and manages more than $14 billion on behalf of a global investor base. The firm’s investments span corporate and traded credit, real estate and mortgages, private equity and direct lending. Värde employs more than 300 professionals worldwide with offices in Minneapolis, New York, London, Singapore and other cities in Asia and Europe. For more information, please visit www.varde.com.