Global investment firm Värde Partners has held a $2bn final close for a new vehicle dedicated to distressed deals and credit opportunities.
Värde said the Fund XI would be tapped to target deals for US and European corporates and specialty finance, US real estate, structured products and global transportation.
About 80 per cent of the fund LPs were investors in Värde’s predecessor vehicle, the firm said.
Värde co-founder and co-CIO George Hicks said, “We are extremely pleased that so many of our historic limited partners continue to invest with Värde and have supported us over the last 20 years.”
The firm manages about $8.5bn of capital dedicated to alternative assets, including stressed and distressed corporate credit, structured products, residential mortgages, speciality finance, transport and infrastructure.
The firm has offices in the US, London and Singapore.
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