MINNEAPOLIS, Dec. 1, 2015 /PRNewswire/ -- Värde Partners, the $10 billion global alternative asset firm, today announced senior management changes and the opening of new offices in New York, Tokyo and Sydney as part of a strategic plan to build out its global investing platform across a range of asset classes and liquidity profiles.
Co-founder Marcia L. Page, currently co-CEO/CIO, will become Chairman, and George G. Hicks will remain as Värde Partners' sole CEO/CIO, effective January 1, 2016. Bradley P. Bauer will remain President.
"Founded on the premise of unlocking incremental value from complex situations, Värde Partners has grown over the last 20 years to become a diverse and global investment adviser with $10 billion in assets under management and more than 200 people in primary offices in Minneapolis, London and Singapore," said Marcia Page. "The changes we are announcing today are part of a thoughtful and extensive strategic review to support the strength of the firm well into the 21st century."
Co-CEO George Hicks said, "Building on our foundation of loyal long-term clients and new investors, we are strategically expanding to enhance our ability to pursue global investment opportunities -- regardless of where those opportunities reside. In addition to our existing offices in Minneapolis, London, Singapore, Milan, Madrid, Luxembourg, Dublin and Barcelona, we will now have new physical locations in New York, Tokyo and Sydney."
As Chairman, Ms. Page will have oversight of the firm, retain her membership on the Investment Committee, and be involved in a number of strategic initiatives. Beyond Värde, Ms. Page also will dedicate time to various efforts, including those focused on women in the investment industry.
Mr. Hicks concluded, "As a co-founder of Värde Partners, Marcia is a pioneer in the alternative investment management industry and an inspiration to women who work in -- or are looking to enter – our field. We are all delighted she remains Executive Chair as we look towards a third decade of seeking investment opportunities and performance for our investors."
About Värde Partners
Värde Partners is an approximately $10 billion global alternative investment firm that employs a credit-oriented, value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, residential mortgages, specialty finance, transportation and infrastructure. The Firm provides the highest level of service to a select group of sophisticated global investors including foundations and endowments, pension plans, insurance companies, other institutional investors and private clients. Founded in 1993, Värde employs over 200 people with offices in Minneapolis, London and Singapore.
SOURCE Varde Partners