Varde Partners closed its 11th fund at its $2 billion fundraising target, said a firm spokeswoman who declined to be identified.
Varde Fund XI expects to make distressed and credit-oriented investments including U.S. corporate bonds, European corporate bonds, European sovereign debt, structured vehicles, U.S. real estate, U.S. specialty finance, European specialty finance and global transportation.
Investors in the fund include the $180.3 billion Florida State Board of Administration, Tallahassee, and the $75 billion Minnesota State Board of Investment, St. Paul.
