Oak Hill Advisors and Värde Partners Acquire $1 Billion Shipping Loan Portfolio

LONDON – Oak Hill Advisors (“OHA”) and Värde Partners (“Värde”) announced today they entered into an agreement to acquire a US$1 billion portfolio of shipping loans from Deutsche Bank. The transaction is expected to close in the third quarter of 2018 pending regulatory approvals. This represents the second sale of shipping loan portfolios from European banks that Värde and OHA have acquired together.

“We view this investment as part of our long-term commitment to provide alternative capital to the shipping industry as traditional participants reduce their exposure and change tack following a challenging period for the sector as a whole,” said Stephen Seymour, Managing Director at Värde responsible for the firm’s investments in the transportation sector. “We are pleased to partner with OHA again as we continue to find compelling investment opportunities as banks divest out of legacy loan portfolios.”

With over 40 loans secured against 70 vessels, the loan portfolio has underlying exposure to a diversified pool of shipping sectors and borrowers.

“We believe the structural changes in the shipping finance industry present an opportunity for flexible capital providers, and we are uniquely positioned given our platform, expertise and relationships in the sector to underwrite and manage these investments,” said Alexis Atteslis, Portfolio Manager and Managing Director at OHA who also heads the firm’s shipping investment activities. “We are excited to be a partner to the banks, high caliber shipowners and borrowers, as we continue to expand our global shipping and transportation business.”

About Oak Hill Advisors
Oak Hill Advisors is a leading independent investment firm with approximately $33 billion of capital under management. OHA has over 25 years of experience investing in a variety of asset classes, including performing and non-performing corporate credit, shipping, real estate, aviation and structured products as well as private equity.  The firm’s investment activities are concentrated in North America and Europe. OHA manages multi-strategy and single strategy credit funds, distressed funds, collateralized loan obligations, other customized mandates and a business development company.  The firm’s investment activities are driven by a fundamental value-oriented philosophy focused on credit analysis, relative value analysis, risk-adjusted return generation, loss avoidance and active risk management. The firm invests on behalf of a diverse, global investor group. OHA employs more than 300 people globally and is headquartered in New York, with other key offices in London, Los Angeles, Hong Kong, Sydney and Fort Worth, Texas.

About Värde Partners
Värde Partners is a $13 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, mortgages, specialty finance, real assets 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. Founded in 1993, Värde employs more than 300 people globally with regional headquarters in Minneapolis, London and Singapore.

Värde Partners Closes $61.5 Million Mortgage Loan

MINNEAPOLIS – Värde Partners, the global alternative investment firm, today announced the closing of a $61.5 million loan for a 729,000 square foot office park.

The loan will provide financing for existing debt and working capital for Brass Professional Center, a 15-building office park located in San Antonio, Texas. As San Antonio’s strong economy and growing employment base creates a greater need for office space, the loan will also aid in positioning the property for sale or recapitalization over the next few years.

“Värde continues to see significant opportunity to provide flexible capital in the commercial mortgage space, specifically in secondary markets such as San Antonio,” said Brian Schmidt, Partner and Head of Värde’s Mortgage Business. “We believe this property is attractive due to its location, which offers tenants value outside of the central business district, and experienced on-site management team.”

The debt was arranged by Bryan Leonard, Managing Director at NorthMarq Capital’s San Antonio office.

Värde has more than 20 years of experience investing across a range of mortgage assets. The firm recently closed Värde Mortgage Fund II with $750 million in committed capital to invest in both commercial and residential mortgage opportunities.

About Värde Partners:
Värde Partners is a $13 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, mortgages, corporate credit, specialty finance, real assets 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. Founded in 1993, Värde employs more than 300 people globally with regional headquarters in Minneapolis, London and Singapore.

Värde Partners Co-Founder Delivers Keynote Address at University of Minnesota Carlson School of Management Commencement Ceremony

MINNEAPOLIS – Värde Partners is pleased to share Co-Founder and Executive Chair Marcia Page’s commencement address to the University of Minnesota Carlson School of Management’s 2018 graduating class.

Marcia addressed the importance of making good choices in business and in life as a path to demonstrating strong character. Furthermore, she challenged the graduates to consider the character and qualities of the people and organizations with whom they work.

“There will be a constant throughout the jobs and the career you have. The one thing that stays with you the entire time: who you are as a human being,” Marcia shared with the more than 1,500 undergraduate, graduate and doctoral students gathered at Mariucci Arena.

“‘The content of your character,’ as Martin Luther King, Jr. put it. Your values, your attitude, your approaches, and more than anything, your behavior. For people can and will only judge us by what we actually do. They will view you based on how you treat them and others, in moments large and small, personal and professional, public and private.”

Marcia is a 1983 graduate of the Carlson School of Management MBA program. She currently serves on the Carlson School of Management Board of Overseers. In 2017, Marcia was named the University of Minnesota Entrepreneur of the Year in recognition of her achievements as a “trailblazer” in her field.

About Värde Partners
Värde Partners is a $13 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, mortgages, specialty finance, real assets 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. Founded in 1993, Värde employs nearly 300 people globally with regional headquarters in Minneapolis, London and Singapore.

Värde Partners CEO and Co-CIO Speak at Milken Institute Global Conference in Los Angeles

Värde Partners Hires Andrea Raphael as Global Head of Communications and Public Affairs

MINNEAPOLIS and NEW YORK – Värde Partners, the global alternative investment firm, today announced the hire of Andrea Raphael as Global Head of Communications and Public Affairs.

Based in Värde’s New York office, Andrea will develop and lead communications and branding efforts across all regions and investing segments.

“As we continue to grow as a leading, global alternative investment manager, we see the importance of strengthening our external communications and brand,” said Jon Fox, Partner and Global Head of Business Development and Investor Relations. “We expect Andrea’s extensive background in the industry and deep experience in communications to support this objective and increase awareness of the work we do on behalf of investors at Värde.”

With more than 20 years of industry experience, Andrea has built and led communications platforms in many businesses. Previously, she was with Goldman Sachs for 17 years serving in various communications roles, most recently as Managing Director in Corporate Communications. Throughout her career Andrea has led communications efforts across multiple investing disciplines including all asset classes in asset management, wealth management, private equity, hedge funds and real estate.

She received her B.S. from Boston University, College of Communication.

About Värde Partners
Värde Partners is a $13 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, mortgages, specialty finance, real assets 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. Founded in 1993, Värde employs more than 280 people globally with regional headquarters in Minneapolis, London and Singapore.

Värde Partners Closes Second Mortgage Fund at $750 Million Hard Cap

MINNEAPOLIS – Värde Partners, the global alternative investment firm, today announced the final close of Värde Mortgage Fund II (“VMFII” or “the Fund”) with $750 million in committed capital, reaching the hard cap set for the Fund.

The Fund’s mandate is to invest in U.S. commercial and residential mortgage opportunities. VMFII will seek investments in newly originated loans, secondary loan trading and other structured securities backed by mortgage assets.

“Värde has extensive experience investing across a range of mortgage assets for more than 20 years. This second dedicated fund will allow us to continue leveraging our integrated platform to source and underwrite opportunities that offer attractive relative value in commercial and residential mortgages,” said Brian Schmidt, Partner and Head of Värde’s Mortgage Business.

Värde’s mortgage team is an extension of the firm’s global platform which invests in various geographies and asset classes. Värde has invested over $7 billion in U.S. commercial and residential mortgages since 2008, and has an experienced team with leaders who have worked together for a decade.

“We strategically built a robust team with deep expertise in commercial and residential mortgages to take advantage of these market opportunities,” said George Hicks, Co-Founder and CEO of Värde Partners. “We are excited to continue to deliver a meaningful opportunity for our investors now and in the years to come.”

Värde’s first dedicated mortgage fund, Värde Mortgage Fund I (“VMFI”), also known as Värde Scratch and Dent Fund, launched in 2014 and closed at the hard cap of $500 million. Värde Mortgage Fund I-A (Värde Scratch and Dent Fund I-A) was launched in 2016 as a top-up to VMFI and a bridge to VMFII.

About Värde Partners
Värde Partners is a $13 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including corporate credit, real estate, mortgages, specialty finance, real assets 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 more than 280 people globally with regional headquarters in Minneapolis, London and Singapore.