Alternative investment firm Värde Partners has held the final close of the Värde Asia Credit Fund with approximately USD400 million of committed capital. The fund, which exceeded its USD250 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,” says Ilfryn Carstairs (pictured), 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, we have 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, says: “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.”
