Värde Partners has hired Aneek Mamik, previously a senior managing director at GE Capital, as the global investment firm’s North American head of specialty finance.
The Minneapolis-based firm has tasked Mamik with leading the global investment firm’s smaller credit investments out of the New York office. Most recently, as senior managing director and head of mergers and acquisitions for GE, he led the disposition of more than $100 billion in assets, as the former finance arm of the industrial behemoth sold off its assets amid increased regulatory oversight. He also received a master of business, banking and finance and a bachelor of accounting from Monash University in Australia.
Beginning as an associate in the Australian consumer finance platform at GE, which was recently acquired by Värde and renamed Latitude Financial Services, he later joined the mergers and acquisitions group. While at that department, he pursued acquisitions globally as part of the company’s expansion.
The company said in the statement bringing Mamik on board lets Värde further take advantage of banks’ continued retrenchment from the lending business by investing in smaller balance commercial and consumer credits. Mamik led more than $150 billion of transactions in more than 30 countries during his fifteen years in senior executive roles at GE, according to the statement. Mamik said that he has worked closely with the Värde team over the last several years, and that he was attracted to the new position based on the firm’s “culture and strong track record”.
His hire comes one month after Värde added two more chief investment officers, Ilfryn Carstairs and Jeremy Hedberg, to be joint CIOs alongside current CIO and chief executive George Hicks, as part of the firm’s long-term succession plan to make Hicks focus solely on his role as CEO by the end of next year.
Värde manages $11 billion in assets, and has regional headquarters in Minneapolis, London and Singapore. The firm invests in corporate assets, residential mortgages, real estate, specialty finance, transportation, infrastructure and logistics.