Värde Partners has announced its global chief investment officer, Ilfryn Carstairs, will become co-chief executive as part of the company’s succession plans.
He will join Värde co-founder George Hicks at the helm on 1 January 2020. Hicks is due to transition to the role of executive chair in 2022.
Carstairs joined Värde in 2006 in its London office where he played a key role in building out the asset manager’s team and business in Europe and Asia, where he served as co-head of corporate and traded credit. In 2017 he relocated to the firm’s Singapore office and took on the role of co-CIO.
Commenting on the appointment, Hicks said: “Transition is a process and involves the entirety of the firm. The roles Ilfryn and I play are just part of that process whereby a new generation of leaders succeed the founders.
“Ilfryn joined us 12 years into this journey and has grown as both an investor and a leader. His skills in both pursuits will enable Värde to continue delivering for our investors and will help to ensure that we maintain our strong culture long into the future.”
Värde Partners was founded in 1993 by Hicks, Marcia Page, who is executive chair, and Greg McMillan, who retired in 2008. The firm invests in corporate and traded credit including NPLs, speciality finance, real estate, infrastructure and mortgages.