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Bailey McCann, Opalesque New York:

Värde Partners, has announced a strategic partnership with Aditya Birla Capital, to pursue the acquisitions, restructurings and resolutions of accumulated nonperforming loan assets in India.

This joint-venture is a key component to the Värde's long-term strategy in Asia, where the firm has invested nearly $500M in the past five years across corporate stressed, distressed, special situations and lending assets.

Värde currently manages about US$14 billion globally, and has invested nearly US$500 million in India in the past five years across corporate stressed, distressed, special situations and lending assets. With regional headquarters established in Singapore in 2008, Värde expects to open its fifth Asia office in Mumbai later this year, subject to regulatory approvals.

If approved by regulators, both firms will evenly share control of the investment platform. Ilfryn Carstairs, Co-CIO of Värde Partners said that the firm wanted to partner with Aditya Birla Capital because of its established business relationships throughout India.

Both firms believe there is an attractive pipeline for strong capital deployment and view this as a multi-year opportunity. "We see a large opportunity in the distressed space, especially in the mid-corporate segment," said Ajay Srinivasan, Chief Executive of Aditya Birla Capital. Srinivasan added that Värde's expertise in restructuring will be an added benefit as the two firms come toget......................

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