Varde Partners
Värde Partners is a global investment adviser focused on credit and value investing strategies. The firm was founded in 1993 in Minnesota by a group of three investment professionals. Each brought broad experience in financial markets, and the trio believed there were significant opportunities in credit markets. They launched Värde's inaugural fund to explore their thesis. Värde's early focus was on distressed assets, and over time, Värde’s experience has extended to a broader set of strategies and asset types arrayed across liquidity profiles and the globe. At a fundamental level, the firm focuses on unlocking value – Värde means value in Swedish – seeking opportunities in less efficient markets and pursuing assets at a discount to their potential value. These opportunities are often accompanied by a complexity that expands the scope of the opportunity as well as the potential return to investors. The Värde team thrives on complexity and seeks to delve deeply to identify undervalued investment opportunities. Real estate This segment is comprised of investments that arise from lending to commercial entities that develop or manage real property assets, investments in loans and securities that are secured by commercial real estate assets and direct investments in real estate assets or companies that are involved in developing property or originating commercial real estate loans. Strategies may include: NPL and REO portfolios Residential & Multi-family Commercial and industrial Commercial mortgage-backed securities Private equity and platform investments Acquisition, development and construction finance Single Assets
Real Estate Specialization
| Multifamily |
| Office |
| Industrial |
| Health Care |
Investment Type
| JV partnership |
| Securities |
| Operating company/entity |
| Debt |
| Loan Assumptions |
Investment Style
| Core |
Marcia Page
Marcia Page co-leads Värde, overseeing its global investment strategy and management as well as serving as the co-chairman of its Investment Committee. Marcia is a Partner in the firm. Marcia has overseen every aspect of the firm’s growth, ranging from the development of the original investment thesis, to the raising of each fund, to the crafting of the firm’s investor communications, to the development of the firm’s infrastructure. Marcia built the liquid investing side of the business, first focusing on all aspects of the day-to-day portfolio management and then building the business on a world-wide basis, including moving to London as she built the liquid side of the business there. Marcia has played key roles in various portfolio companies owned by the Värde funds as well as serving on creditors' committees. Prior to founding Värde in 1993, Marcia served as vice president of EBF & Associates, an alternative investment firm. There, she helped establish Merced Partners, an investment partnership. Prior to EBF & Associates, Marcia traded distressed and high-yield bonds and managed fixed-income portfolios at Cargill.
George Hicks
George Hicks co-leads Värde, oversees its global investment strategy and management, and serves as the co-chairman of its Investment Committee. George is a Partner in the firm. As a founder, George was an original architect of the firm’s investment thesis and philosophy and has helped guide the application of those principles to an ever-changing, growing and dynamic investing environment. He has presided over the growth of the firm, overseeing its transition from a start-up to a global enterprise with the infrastructure required to support offices around the globe and a diverse investor base. George played a central role in developing the mandates and raising the capital for each of Värde’s funds. He has served as a lead creditor in a number of corporate restructurings and has served on the boards of a number of the portfolio companies owned by the Värde funds.
Andrew Lenk
Andrew Lenk is a partner of Värde and leads the Asset Management function, which he developed for the firm. He is a member of Värde’s Investment Committee. Andy joined the firm in 2001 and was named partner in 2008. Under Andy’s leadership, the Asset Management team partners with Värde’s global team of investment professionals to drive value in key positions held by the Värde funds. More specifically, this team seeks to optimize investment performance through active real estate management, capital markets expertise and operational support of private equity investments. Prior to his current role, Andy oversaw the global Finance and Operations functions at Värde, and spent his first seven years focused on investing in U.S. and European corporate opportunities.
Bradley Bauer
Brad Bauer is a Partner of Värde and serves as the President of the firm. He is a member of the firm's Investment Committee and serves as chairman of its Operating and Risk Committees. Brad joined Värde in 2007 and was named Partner in 2013. As President, Brad plays a central role in firm leadership and strategic direction, including global responsibility for all non-investing activities. He previously led the firm's Global Business Development and Investor Relations team. During his first six years with Värde, Brad was involved with the management of the firm's corporate credit team and related portfolios. Brad’s experience spans an array of industries and includes restructurings, liquidations and performing credit.
Paula Prahl
- +1 952 715 5525
- pprahl@varde.com
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