Värde Partners Closes First Dedicated Asia Credit Fund. Approximately $400 Million Committed Capital Ends Fundraising Above Target
Värde Partners, a leading global alternative investment firm, today announced the final close of the Värde Asia Credit Fund (“the Fund”) with approximately $400 million of committed capital. The Fund, which exceeded its $250 million target and closed after six months, is the firm’s first Asia-dedicated vehicle.
The Fund has the flexibility to invest across corporate credit, special situations lending and stressed and distressed real estate investments throughout Asia Pacific.
Värde expects the opportunity set to be driven by structural and cyclical factors in the region, including bank retrenchment and less developed capital markets, as well as sectors with high leverage and slowed growth in certain economies and industries.
“Asia presents a massive opportunity for Värde to provide flexible capital and restructuring expertise while delivering value to our investors around the world,” said Ilfryn Carstairs, Partner and Global Co-Chief Investment Officer based in Singapore. “Since opening our regional headquarters in Singapore more than a decade ago, we have built institutional infrastructure in the region, thoughtfully expanded into new markets and hired local professionals in key areas of activity. This is an exciting milestone for the firm and we believe that Asia will be an increasingly important market for us in the years to come.”
Jon Fox, Partner and Global Head of Business Development and Investor Relations, said: “The terrific response to the Värde Asia Credit Fund is a reflection of the compelling opportunity set and our deep experience in the region. We are thrilled to have both new and long-time investors join us in this Fund.”
Värde has invested over $4 billion across 15 countries in Asia Pacific and has more than 40 employees in offices in Hong Kong, Mumbai, Singapore, Sydney and Tokyo. The firm launched a strategic partnership with Aditya Birla Capital in India in September and opened its fifth Asia office in Mumbai in November. The Värde Asia Credit Fund received commitments from a global and diverse base of investors, including public and private pensions, endowments, foundations and family offices across North America, Europe and Asia.
About Värde Partners:
Värde Partners is a $14 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including corporate and traded credit, specialty finance, real estate, mortgages, energy, real assets and infrastructure. The firm sponsors and manages a family of private investment funds with a global investor base that includes foundations and endowments, pension plans, insurance companies, other institutional investors and private clients. Now in its third decade, Värde employs more than 300 people globally with regional headquarters in Minneapolis, London and Singapore.