Värde Partners Closes First Dedicated Asia Credit Fund
Värde Partners has closed its Värde Asia Credit Fund - the firm's first Asia-focused vehicle - with approximately $400 million of committed capital. The funds original target was $250 million; commitments came from a global base of investors, including public and private pensions, endowments, foundations and family offices across North America, Europe and Asia.
The Fund has the flexibility to invest across corporate credit, special situations lending and stressed and distressed real estate investments throughout Asia Pacific.
“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.