Pennsylvania pension fund backs Värde Partners’ small loans debt fund

The Pennsylvania Public School Employees’ Retirement System has committed $150m for the launch of Värde Partners’ first fund dedicated to small, sub-performing US property loans. The Värde fund will invest in so-called “scratch and dent” loans – where borrowers have averted default by resuming payments – targeting discounted secondary market purchases of existing loans backed by office, industrial and retail properties typically […]