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Alternative Market Briefing

Värde Partners Closes $2bn Fund

Thursday, June 19, 2014

Bailey McCann, Opalesque New York:

Global alternative investment firm Värde Partners has closed its most recent fund -Värde Fund XI on $2bn. Värde manages $8.5bn in assets across credit-oriented products, including stressed and distressed corporate credit, structured products, residential mortgages, real estate, specialty finance, transportation and infrastructure.

The fund will be focused on seeking distressed and credit-oriented opportunities worldwide. 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.

As Opalesque has previously reported, credit strategies continue to hold favor with both managers and investors – especially those considering the range of distressed opportunities in the EU. As the EU continues to work through its banking union and banking recapitalization plans, managers in the space expect the opportunity for distressed and other credit strategies to hold for another 2-5 years.

Marc Lasry’s avenue capital is believed to be considering a distressed energy companies fund, further highlighting the variety of opportunities open to credit investors. Perhaps most notably, outside of the US and EU distressed opportunity set, is the potential for another Argentine default following that country’s loss in the US courts over payments to bondholders.

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