Värde Partners Closes Second Mortgage Fund at $750 Million Hard CapApril 11, 2018
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.