Virgin Voyages to Have New Palm Grove Home Terminal at PortMiami in 2021

•    Sir Richard Branson’s new cruise line is working with Miami-Dade County to build a new lush tropical terminal overlooking the Miami skyline.

•    Virgin Voyages 2nd ship will sail from Miami during winter season in 2021/22.

•    Inaugural season sailings to open for bookings on February 14.

•    Virgin Voyages calling for ocean conservation with sponsorship of Sir Richard Branson’s Blue Hole Expedition.

MIAMI-Thursday 29 November 2018 [ AETOS Wire ]

(BUSINESS WIRE) -- Virgin Group Founder Sir Richard Branson and Virgin Voyages President and CEO Tom McAlpin were joined today by Miami-Dade County Mayor Carlos A. Gimenez, Chairwoman of the Miami-Dade County Economic Development and Tourism Committee Rebeca Sosa and other local government officials to announce plans to build a new cruise terminal for Virgin Voyages. With this new terminal and a long-term commitment to PortMiami, Virgin Voyages also announced that its first ship, the Scarlet Lady, will continue to sail to the Caribbean from Miami throughout 2021. The company’s second ship will sail from Miami during the fall/winter cruise season of 2021/22.

Sir Richard Branson also proudly announced that bookings for Virgin Voyages’ inaugural season will open for sale on February 14 for the general public and February 5 for those currently holding pre-sale deposits.

The new Virgin Voyages Terminal will be located on the northwest side of the port. Pending the Board of County Commission’s approval of the MOU for construction of a new cruise facility; along with the subsequent berthing agreement, this project will start next year and is slated for completion by November 2021, the beginning of the year’s cruise season. This new terminal will have a significant positive economic impact on the entire region and solidifies a vital homeport for Virgin Voyages as the company continues to grow.

“Miami is an incredible city and one of my favorite places to work and play,” said Branson. “From our headquarters for Virgin Hotels, Virgin Voyages and now Virgin Trains USA, South Florida has quickly become another home for Virgin brands in the leisure travel sector.”

“South Florida is our home, and with our fleet now growing to four ships, we’re humbled and thankful to soon have a gorgeous new terminal overlooking the Miami skyline, an incredible view that will set the stage for the alluring journey that we will take our sailors on,” said McAlpin.

The new 100,000 square foot terminal will be a palm grove inspired design concept developed by the Miami-based designers from Arquitectonica. This new concept encompasses a design that builds on Virgin Voyages’ design ethos of the Modern Romance of Sailing, a thoroughly new take on the formal grandeur and opulence of the ocean liner heyday that heroes ocean views with a thoughtful root in history and tradition.

The palm grove design is inspired by Miami Beach’s iconic palm trees and the island’s historical origins as an area intended for harvesting coconuts. The terminal’s rooftop is designed to resemble a palm tree grove with rooftop pockets that allow natural light to flow into the building by day, and uplighting by night that will light up the company’s iconic Virgin Voyages red logo and allow the facility to shine bright, mirroring the city’s skyline. The two-story storm-proof glass facility will be replete with lush landscaping giving the terminal a plaza-like feel with designated areas for drop-offs of VIP’s, ride-sharing and provisioning, designed to provide a seamless shore to ship experience.

“It’s gratifying to see Virgin Voyages expand its presence in Miami-Dade County," said Miami-Dade County Mayor Carlos A. Gimenez. “By constructing a new cruise terminal at PortMiami, Virgin Voyages is signaling its confidence in our thriving community, which is not only the Cruise Capital of the World but also the Gateway to the Americas.”

As a part of Virgin Voyages’ sustainability efforts, the new Virgin Voyages PortMiami Terminal is targeting a LEED Gold Certification from the U.S. Green Building Council.

Virgin Voyages is committed to creating an epic sea change for all by playing a significant part in securing a healthy future for the ocean and having a positive impact on the communities and ports it visits. Working hand-in-hand with Ocean Unite and Sir Richard Branson, Virgin Voyages is sponsoring Sir Richard Branson and Fabien Cousteau’s Aquatica submarine dive to Belize’s Blue Hole, part of a UNESCO World Heritage site, on December 2. Virgin Voyages intends to support ocean research and conservation projects like the Blue Hole Expedition in an effort to raise awareness and gain insight into the issues facing the ocean today. The company aims for these efforts to help guide them in making better business decisions for its oceans and port communities.

Future sailors and travel partners are invited to check out Virgin Voyages by visiting www.virginvoyages.com or following @virginvoyages on Instagram, Facebook, Twitter or LinkedIn.

ABOUT VIRGIN VOYAGES

Virgin Voyages is a global lifestyle brand committed to creating the world’s most irresistible holiday. With operations in the US, UK and Europe, Virgin Voyages currently has four ships on order with master shipbuilder Fincantieri.

With its inaugural season scheduled for 2020, Virgin Voyages’ first ship the Scarlet Lady was designed to reflect a yacht’s sleek luxury. Featuring spaces designed by some of the top names in contemporary interiors, the Scarlet Lady will be Adult-by-Design, a sanctuary at sea for the 18+ traveler. A dose of ‘Vitamin Sea’ will be naturally intertwined across the entire ship, with well-being activated through a mix of high-energy moments coupled with relaxation and rejuvenation. The Scarlet Lady will also feature alluring entertainment and 20+ world-class intimate eateries onboard. Putting a twist on luxury, which the company refers to as Rebellious Luxe, Virgin Voyages will offer incredible value for its sailors with all restaurants, group fitness classes, soft drinks, and many more Virgin surprises included within the voyage fare. The Scarlet Lady will sail from Miami to the Caribbean in 2020, hosting more than 2,770 sailors and 1,160 amazing crew from around the world. Keep watch on virginvoyages.com for more updates.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181128005549/en/

Contacts
Christina Baez
media@virginvoyages.com

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Andersen Global Announces Expansion of Global Board

 Partners from Nigeria and Egypt to Join Advisory Board



SAN FRANCISCO-Friday 30 November 2018 [ AETOS Wire ]

(BUSINESS WIRE)-- Andersen Global announced today the expansion of its Global Board of Directors with two new board members: Seyi Bickersteth, Partner at Andersen Tax in Nigeria, and Lena Hamdi, Partner at Andersen Tax & Legal in Egypt.

Seyi and Lena will join 10 other top tax and legal advisors on the Global Board and their appointments will provide additional regional representation and diversity as Andersen Global continues to grow.

Seyi Bickersteth is an economist with a deep history and knowledge of global tax and legal firms. He was the Managing Partner of KMPG Professional Services, and was the Head of Tax at Arthur Andersen in Nigeria. Seyi is well-known for his efforts for economic development, and is a fellow of the Institute of Chartered Accountants of Nigeria and The Chartered Institute of Taxation of Nigeria.

In addition to his role on the Board, Seyi will play a key role in Andersen Global’s expansion in Africa. The global association has a presence across seven countries throughout the continent, with plans for continued expansion within the region in the next 12 months.

Lena Hamdi is a Partner at Andersen Tax & Legal, based in Cairo. She has extensive experience with foreign investment, market entry strategies and investment advice. She holds an LLB from Queen Mary University in London. Lena leads the firm’s Global Relations department in Egypt and serves as a key liaison and advisor on expansion related matters in Egypt and the Middle East. Andersen Global currently has a presence in six countries across the region and plans for further expansion.

“Our Global Board of Directors is an impressive group of professionals with unmatched acumen and high-level strategic experience,” said Mark Vorsatz, Andersen Global Chairman and Andersen Tax LLC CEO. “Adding broader representation for Africa and the Middle East will allow us to seamlessly serve our clients across the world in the best way possible. Both Seyi and Lena epitomize all the best qualities that we strive to achieve: stewardship, seamless service, and best-in-class solutions.”

Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has nearly 4,000 professionals worldwide and a presence in over 122 locations through its member firms and collaborating firms.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181129005004/en/

Contacts

Megan Tsuei
Andersen Tax
+1-415-764-2700

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An Unprecedented Initiative Supported By the United Arab Emirates

The Council of Arab Economic Unity announces “A common vision for Arab digital economy”

Boston, United States of America-Friday 30 November 2018 [ AETOS Wire ]

“A common vision for Arab Digital Economy” is the bold plan driven by the Council of Arab Economic Unity (CAEU) at the League of Arab States to boost political and social stability in the Arab World through Digital Economy.

Dr. Ali Mohammed Al Khouri, Advisor to the Council of Arab Economic Unity, said that the initiative received the support of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE’s Armed Forces. The plan aims at digital inclusion, knowledge-based legislative and technology infrastructure, and public and private frameworks that will boost security, welfare and prosperity for the Arab societies.

The UAE’s support for the common Arab vision will promote a joint Arab action. Al-Khouri stressed on the importance of the role of technology as a tool to achieve the objectives of sustainable development and economic growth rates through creation of investments opportunities, employment and opening of new markets.

The UAE is renowned for its knowledge-based approach and youth empowerment. The UAE has been fostering a number of initiatives for skills development like the one million Arab coders project and the e-learning platform offering over 50 million Arab students across the world access to education among other projects that support sustainable development for the Arab societies.

The Council of Arab Economic Unity (CAEU) is the execution arm for the plan. CAEU delegation met with Mourad Wahba, Assistant Secretary-General, Assistant Administration and Regional Director for Arab States at UNDP and with senior officials from the United Nation’s Division for public institutions & Digital Government. Al-Khouri noted that the investments directed towards the Arab regions by UNDP is one Billion US Dollars.

“This initiative will be the foundation to promote the social and economic security for the Arab societies. That is why it is important to cooperate with international organizations and bring together Arab and International thinkers and practitioners for the development of the strategy. Such involvement will ensure global influence and introduction”, stated Al-Khouri.

“This is a new model for developing Arab world’s economies to tackle global challenges. The UAE is putting its expertise to use to boost sustainable development in the Arab states”, Al-Khouri concluded.

The strategy will be presented in an international conference that will be hosted in AbuDhabi on 16 & 17 December 2018. The outputs will be presented to the Arab Leaders at the Arab Summit scheduled in March 2019 in Tunisia.

The World Bank noted the importance of the strategy in paving the way for inclusive economic development opportunities in the Arab world. UN, UNDP and the World Bank support the initiative and CAEU for its work for comprehensive development and enhancement of cooperation between the Arab states.

Contacts

For the Council of Arab Economic Unity

Wael M. Barghouti, Media Advisor

media@arabfde.org      

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Celgene Corporation Announces Initial Phase 1/2 Liso-cel Data in Patients with Relapsed/Refractory CLL, Including Those with High-Risk Disease, Previously Treated with Ibrutinib, at ASH 2018

 Eighty one percent overall response rate and 43% complete response rate observed in heavily pre-treated patients

Majority of patients evaluable for minimal residual disease achieved early, undetectable MRD



SUMMIT, N.J.-Tuesday 4 December 2018 [ AETOS Wire ]


(BUSINESS WIRE)-- Celgene Corporation (NASDAQ: CELG) today announced initial data from the dose-escalation part of an ongoing, open-label multicenter phase 1/2 study of investigational lisocabtagene maraleucel (liso-cel; JCAR017) in patients with relapsed/refractory chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL), including patients with cytogenetic features of high-risk disease, who were previously treated with ibrutinib. The data were presented by Tanya Siddiqi, M.D. in an oral presentation at the 60th American Society of Hematology (ASH) Annual Meeting and Exposition in San Diego, C.A. (Abstract #300).

Data presented today from TRANSCEND CLL-004 include 16 patients from the ongoing phase 1 monotherapy dose-escalation part of the study. The median number of lines of prior therapy was 4.5, and 75% of patients had high-risk cytogenetic features. All patients had previously received treatment with ibrutinib, 81% had relapse/refractory disease on ibrutinib and 50% received prior treatment with ibrutinib and venetoclax. Following lymphodepletion with fludarabine (30 mg/m2) and cyclophosphamide (300 mg/m2) for three days, patients received liso-cel at dose level 1 (5×107 CAR+ T cells) or dose level 2 (1×108 CAR+ T cells).

The overall response rate (ORR), which was an exploratory objective, was 81%, with 43% of patients demonstrating a complete response (CR). As of September 2018, five patients have six-month follow-up and all have maintained a response and undetectable minimal residual disease (uMRD) in the blood as measured by flow cytometry (10-4). The median time-to-peak expansion was 16 days, and CAR+ T cells remained detectable in patients at three months.

“Ibrutinib is a standard of care for patients with CLL, but outcomes are poor for patients whose disease progresses on or after ibrutinib,” said Alise Reicin, M.D., President, Global Clinical Development for Celgene. “These initial findings support further research with liso-cel in CLL and reinforce Celgene’s commitment to cellular therapy across a broad spectrum of blood cancers.”

The most common treatment-emergent adverse events reported included anemia (88%), thrombocytopenia (81%), cytokine release syndrome (75%), neutropenia (63%), leukopenia (56%), hypokalemia (50%), pyrexia (38%), lymphopenia (31%), nausea (31%), diarrhea (25%), febrile neutropenia (25%), headache (25%), insomnia (25%), and tremor (25%). One patient (6.3%) experienced grade 3 cytokine release syndrome and three patients (18.8%) experienced grade 3 neurologic events. No patients experienced grade 4 cytokine release syndrome or neurologic events.

"In CLL, undetectable MRD correlates with improved outcomes for patients and is particularly difficult to achieve in patients who have progressed on ibrutinib,” said lead study investigator Tanya Siddiqi, M.D., City of Hope National Medical Center. “The high response rates we observed in heavily pretreated patients in this initial data set, along with undetectable MRD status, that appears to be maintained over time, warrants further investigation of liso-cel in this area of high unmet need.”

Liso-cel is not approved in any country.

About Liso-cel

Liso-cel is an investigational defined composition CD19-directed CAR T cell product candidate using a 4-1BB costimulatory domain. Celgene’s lead CAR T trial, TRANSCEND NHL-001, is studying liso-cel in adult patients with relapsed or refractory diffuse large B cell lymphoma, primary mediastinal B-cell lymphoma, follicular lymphoma Grade 3B, and mantle cell lymphoma.

About Celgene

Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through next-generation solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation. For more information, please visit www.celgene.com.

Follow Celgene on Social Media: Twitter, Pinterest, LinkedIn, Facebook and YouTube.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words "expects," "anticipates," "believes," "intends," "estimates," "plans," "will," "outlook" and similar expressions. Forward-looking statements are based on management's current plans, estimates, assumptions and projections, and speak only as of the date they are made. Celgene undertakes no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors, many of which are discussed in more detail in Celgene's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.

Hyperlinks are provided as a convenience and for informational purposes only. Celgene bears no responsibility for the security or content of external websites.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181202005055/en/

Contacts

Celgene Corporation
Investors:
+1-908-673-9628
ir@celgene.com
or
Media:
+1-908-673-2275
media@celgene.com

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Tiziana Completes Patient Enrollment in a Phase 2a Trial to Evaluate Tolerability and Anti-Tumor Activity of Milciclib in Hepatocellular Carcinoma (HCC)

NEW YORK & LONDON-Tuesday 4 December 2018 [ AETOS Wire ]

(BUSINESS WIRE) -- Tiziana Life Sciences plc (Nasdaq: TLSA / AIM: TILS), a biotechnology company focusing on the discovery and development of innovative therapeutics for inflammation and oncology indications, announces that patient enrollment in the ongoing Phase 2a clinical trial (CDKO-125A-010) is completed. This is a single-arm, repeated-dose, 6-month duration study to evaluate safety, tolerability and anti-tumor activity of Milciclib in Sorafenib-refractory or -intolerant patients with unresectable or metastatic HCC. Topline data from this multi-center trial, being conducted in Italy, Greece and Israel, will be available in the second quarter of 2019.

Previously we reported interim analysis data from the first 10 patients, following 6 months of treatment, showing that Milciclib (100 mg once daily; 4 days on/3 days off every 4 weeks defining each cycle) was well-tolerated in this HCC patient population. It was concluded by an Independent Data Monitoring Committee (IDMC) that there were no major signals of tolerability concerns, and the IDMC allowed continuation of patient enrollment in the trial. Following completion of 6 months of treatment, three patients opted to continue treatment under the compassionate use program. Notably, one patient is still continuing treatment in the 14th month and the other two patients received treatment until 9th month and 13th month, respectively.

About HCC

HCC is the 5th most common cancer and the 3rd cause of cancer mortality worldwide. In 2007 the approval by the European Medical Agency (EMA) and Food and Drug Administration (FDA) of Sorafenib (Nexavar®), an inhibitor of several receptor tyrosine kinases, in HCC represented the first systemic therapy for improving outcome in patients unsuitable for loco-regional and surgical therapies and created a new standard of treatment for the disease. However, although significant in respect to placebo, the benefits of Sorafenib are modest; the response rate is less than 3%, the improvement in median survival is 2-3 months and the drug-related symptoms are not ordinary. The complex multi-factorial etiology of HCC warrants a need for systemic therapies that target different signaling cascades to provide improved efficacy and safety for both naive patients presenting with unresectable, advanced stage and those who suffer recurrence after curative treatments (resection, ablation and transplantation).

About Milciclib

Milciclib (PHA-848125AC) is a small molecule inhibitor of several cyclin dependent kinases such as CDK1, CDK4, CDK5 and CDK7. CDKs are serine threonine kinases that play crucial roles in progression of the cell cycle from G1 to S phase. Overexpression of CDKs and other downstream signaling pathways that regulate cell cycles have been frequently associated with development of resistance towards chemotherapies. In a Phase 1 study, oral treatment with Milciclib was well-tolerated and the drug showed promising clinical responses in patients with advanced solid malignancies such as in NSCLC, pancreatic and colon cancer, thymic carcinoma and thymoma. Additionally, milciclib met its primary endpoint in two separate Phase 2 multi-center clinical trials (CDKO-125A-006: 72 patients and CDKO-125A-007: 30 patients) in thymic carcinoma and thymoma patients.

About Sorafenib

Sorafenib (co-developed and co-marketed by Bayer and Onyx Pharmaceuticals as Nexavar®) is a small molecular multi-tyrosine kinase inhibitor drug approved for the treatment of primary kidney cancer (advanced renal cell carcinoma), HCC, and radioactive iodine resistant advanced thyroid carcinoma. Treatment with Sorafenib induces autophagy, which may suppress tumor growth. However, autophagy can also cause drug resistance.

About Tiziana Life Sciences

Tiziana Life Sciences plc is a UK biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology. In addition to Milciclib, the Company is also developing Foralumab for liver diseases. Foralumab is the only fully human anti-CD3 monoclonal antibody in clinical development in the world. This Phase 2 compound has potential application in a wide range of autoimmune and inflammatory diseases, such as nonalcoholic steatohepatitis (NASH), primary biliary cholangitis (PBS), ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable.

Contacts

Tiziana Life Sciences plc
+44 (0)20 7493 2853
Gabriele Cerrone, Chairman and founder

Cairn Financial Advisers LLP (Nominated adviser)
+44 (0)20 7213 0883
Liam Murray / Jo Turner

Stockdale Securities Limited (Broker)
Andy Crossley / Antonio Bossi
+44 (0)20 7601 6125


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ABB enables groundbreaking trial of remotely operated passenger ferry

Ice-class passenger ferry Suomenlinna II was remotely piloted through test area near Helsinki harbor, proving that human oversight of vessels from anywhere is achievable with today’s technologies

HELSINKI-Tuesday 4 December 2018 [ AETOS Wire ]

(BUSINESS WIRE) -- With this historic trial in the Finnish capital’s port last week, ABB and Helsinki City Transport took the next step in autonomous shipping. In the remote trial, the world’s first for an existing passenger ferry, ABB successfully tested the enhancement of ship operations with technologies that are already available for nearly any kind of vessel.

“We are excited about the potential impact of this test on the future of the maritime industry,” said Peter Terwiesch, the President of ABB’s Industrial Automation division. “Advanced automation solutions from ABB are making the previously impossible possible for a wide range of sectors, including shipping, which is actively searching for technologies that can rapidly deliver more efficiency and better safety.”

“Autonomous does not mean unmanned. As vessels become more electric, digital and connected than ever before, ABB is able to equip seafarers with existing solutions that augment their skillsets. In this way, we are enhancing the overall safety of marine operations,” said Juha Koskela, Managing Director at ABB’s Marine & Ports unit.

Suomenlinna II was retrofitted with ABB’s new dynamic positioning system, ABB Ability™ Marine Pilot Control, and steered from a control center in Helsinki.

Speaking after the voyage, Captain Heinonen said: “The progress we have made with the remote trial has been remarkable. I believe we are on the right track to exploring further possibilities of this technology as we move forward.”

This breakthrough trial represents a crucial step toward increasing the maritime industry’s acceptance of autonomous operation systems. Autonomous solutions are expected to transform international shipping in the coming decades as the industry recovers from the downturn caused by the 2008 financial crisis. Global demand for maritime transport has grown by 30 percent over the past decade, according to the International Chamber of Shipping data, while more than 10 billion tons of cargo are now transported by sea every year.

Suomenlinna II normally voyages from Helsinki to Suomenlinna fortress, the UNESCO World Heritage site on a nearby island. For the remote piloting trial, the ferry departed from Helsinki’s market square, Kauppatori, and Captain Heinonen wirelessly operated Suomenlinna II with ABB Ability™ Pilot Control through a pre-selected area of Helsinki harbor.

The trial took place during the vessel’s off hours, away from shore with no passengers aboard, in an area free of other vessels. While it is now equipped with the new dynamic positioning system, the vessel will continue to operate via a set of conventional onboard controls, with the remote mode deployed during the trial only. Research and development will continue with the ferry and her crew.

Suomenlinna II, originally built in 2004, is fitted with ABB’s icebreaking Azipod® electric propulsion system. Additionally, the ferry was retrofitted with ABB Ability™ Marine Pilot Vision situational awareness solution in 2017. Suomenlinna II operates year-round, undisturbed by the harsh winter conditions that affect all other modes of transport in the Helsinki region. ABB Ability™ is ABB’s leading offering of digital solutions and services.

To watch the video, click here.

Raw video footage available on request.

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in power grids, electrification products, industrial automation and robotics and motion, serving customers in utilities, industry and transport & infrastructure globally. Continuing a history of innovation spanning more than 130 years, ABB today is writing the future of industrial digitalization with two clear value propositions: bringing electricity from any power plant to any plug and automating industries from natural resources to finished products. As title partner in ABB Formula E, the fully electric international FIA motorsport class, ABB is pushing the boundaries of e-mobility to contribute to a sustainable future. ABB operates in more than 100 countries with about 147,000 employees. www.abb.com

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181204005514/en/

Contacts
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
Media Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com

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Värde Partners Closes First Dedicated Asia Credit Fund

 Approximately $400 Million Committed Capital Ends Fundraising Above Target

SINGAPORE-Tuesday 4 December 2018 [ AETOS Wire ]

(BUSINESS WIRE)-- Värde Partners, a leading global alternative investment firm, today announced the final close of the Värde Asia Credit Fund (“the Fund”) with approximately $400 million of committed capital. The Fund, which exceeded its $250 million target and closed after six months, is the firm’s first Asia-dedicated vehicle.

The Fund has the flexibility to invest across corporate credit, special situations lending and stressed and distressed real estate investments throughout Asia Pacific.

Värde expects the opportunity set to be driven by structural and cyclical factors in the region, including bank retrenchment and less developed capital markets, as well as sectors with high leverage and slowed growth in certain economies and industries.

“Asia presents a massive opportunity for Värde to provide flexible capital and restructuring expertise while delivering value to our investors around the world,” said Ilfryn Carstairs, Partner and Global Co-Chief Investment Officer based in Singapore. “Since opening our regional headquarters in Singapore more than a decade ago, we have built institutional infrastructure in the region, thoughtfully expanded into new markets and hired local professionals in key areas of activity. This is an exciting milestone for the firm and we believe that Asia will be an increasingly important market for us in the years to come.”

Jon Fox, Partner and Global Head of Business Development and Investor Relations, said: “The terrific response to the Värde Asia Credit Fund is a reflection of the compelling opportunity set and our deep experience in the region. We are thrilled to have both new and long-time investors join us in this Fund.”

Värde has invested over $4 billion across 15 countries in Asia Pacific and has more than 40 employees in offices in Hong Kong, Mumbai, Singapore, Sydney and Tokyo. The firm launched a strategic partnership with Aditya Birla Capital in India in September and opened its fifth Asia office in Mumbai in November. The Värde Asia Credit Fund received commitments from a global and diverse base of investors, including public and private pensions, endowments, foundations and family offices across North America, Europe and Asia.

About Värde Partners:

Värde Partners is a $14 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 and traded credit, specialty finance, real estate, mortgages, energy, 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 300 people globally with regional headquarters in Minneapolis, London and Singapore.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181203005403/en/

Contacts

Värde Partners
Andrea Raphael, Global Head of Communications & Public Affairs
communications@varde.com


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