Värde Partners Appoints Co-CEOJuly 15, 2019
CIO Ilfryn Carstairs to Join Co-Founder CEO George Hicks at Helm
MINNEAPOLIS and SINGAPORE – Värde Partners, a leading global alternative investment firm, today announced that Ilfryn Carstairs will join George Hicks, Co-Founder and Chief Executive Officer, as Co-CEO, effective January 1, 2020. George co-founded Värde Partners 25 years ago and intends to transition to an Executive Chair role in 2022. Ilfryn will retain his role as Global CIO.
“Transition is a process and involves the entirety of the firm. The roles Ilfryn and I play are just part of that process whereby a new generation of leaders succeed the founders,” said George. “Ilfryn joined us 12 years into this journey and has grown as both an investor and a leader. His skills in both pursuits will enable Värde to continue delivering for our investors and will help to ensure that we maintain our strong culture long into the future.”
Ilfryn is a Partner and Co-Chief Investment Officer overseeing the global investment strategy for Värde. He co-chairs the firm’s Investment Committee. Based in Singapore since 2017, he joined the firm in 2006 in London and played a key role in building Värde’s team and business in Europe and in Asia. Prior to being named Co-Chief Investment Officer in 2017, he served as Co-Head of Corporate and Traded Credit, managing Värde’s liquid investing activities globally.
Originally from Australia, Ilfryn received a B.C. with First Class Honours from the University of Queensland, Australia, and an M.B.A. from INSEAD, France.
George co-founded the firm in 1993 with Marcia Page, currently Executive Chair, and Greg McMillan (retired 2008) in the early days of the alternative investing industry. The firm has since invested more than $60 billion and has grown into a successful enterprise investing in a diverse set of strategies around the world.
About Värde Partners
Värde Partners is a $14 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 and traded credit, real estate, mortgages, financial services, 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 300 people globally with regional headquarters in Minneapolis, London and Singapore.