Varde Partners Closes Specialty Real Estate Fund with $500 Million of Committed Capital

MINNEAPOLIS, June 16, 2015 /PRNewswire/ -- Värde Partners today announced the final close of their Real Estate Credit Fund with $500 million of committed capital.  The Värde Scratch and Dent Fund will focus on performing and sub-performing credit in the $2.8 trillion U.S. commercial real estate market.  Through both secondary purchase and new origination strategies, the fund will target loans with unpaid principal balances below $50 million.

The fund represents an important milestone for Värde as the firm's first real estate-focused fund, taking advantage of Värde's significant real estate expertise and strong relationships in this market.

"With our long history of investing in real estate through both credit and assets, we saw an opportunity to extend our investment program into the performing segment of this market to capture what we believe to be attractive returns and current yield," said Marcia Page, the firm's Co-CEO and Co-Founding Partner.  "Seven years after the financial crisis, there continues to be a scarcity of capital and resources focused on small balance commercial real estate loans, which is driving a new set of opportunities for Värde."

"We believe our investors' confidence in Värde's investment thesis and strong track record is once again demonstrated by their commitment to the Scratch and Dent Fund.  We thank them for their support," said George Hicks, Co-Founding Partner and Co-CEO.  

About Värde Partners
Värde Partners is a $10 billion global alternative investment firm that employs a credit-oriented, value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, residential mortgages,  specialty finance, transportation 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 200 people with main offices in Minneapolis, London and Singapore.

This press release does not constitute the offer of advisory services or offer of a security or the solicitation of an investment.

For further information:
Steve Bruce / Taylor Ingraham
ASC Advisors
(203) 992-1230  

SOURCE Varde Partners

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