Värde Partners raises nearly USD2.5bn for 13th flagship fund
Värde Partners, a global alternative investment firm, has raised its 13th flagship vehicle, Värde Fund XIII, with USD2.47 billion in commitments.
The Fund exceeded its USD2 billion target and will have the flexibility to invest in a range of credit and credit-related assets globally across liquid traded credit, special situations, real estate and financial services.
“Over the past 26 years we have built a global platform with the agility to seek attractive risk-adjusted value in opportunistic credit and asset markets,” says George Hicks, Co-Founder and Chief Executive Officer. “In this fund, we utilise our deep experience through many market cycles with the flexibility to invest in both private and liquid markets, across capital structures and regions.”
Värde expects the opportunity set to be driven by systemic distress factors, including where financial systems retain persistent high levels of non-performing loans, and cyclical opportunities associated with industry or economic downturns.
“Against a backdrop of intense economic uncertainty, there are several significant pockets of distress around the world today, and we expect that opportunity to grow over the investment period of the Fund,” says Ilfryn Carstairs, Global Co-Chief Investment Officer. “We have strategically built our right to play in markets where we can target the gaps left behind by traditional capital providers as they continue to retrench.”
“The strong support for this fundraise came from both new and long-time investors,” adds Jon Fox, Partner and Global Head of Business Development and Investor Relations. “We appreciate the confidence that this diverse investor base has in the power of the Värde platform.”
In addition to its flagship funds, Värde has previously raised dedicated capital for targeted investment strategies in Asia, Europe, mortgages, private debt, real estate, and specialty finance.