Värde Partners raises $900m for latest fund


???????????????????????????????Minneapolis-based distressed debt investor Värde Partners has reportedly raised nearly half of its $2bn fund.

Värde Fund XI has gathered $900m through a series of rolling closes after four months on the road according to Dow Jones, citing a person familiar with the situation.

Last month AltAssets reported that the fund had secured a $200m commitment from Minnesota State Board of Investment (SBI).

The firm’s previous vehicle was closed on just over $2bn in June 2011, beating its $1.7bn target.

That total included a $22.5m commitment from SBI.

In addition to its headquarters in Minneapolis, Värde has offices in London and Singapore.

It invests in various assets including corporate securities, loans and real estate.

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