Aditya Birla, US firm Värde Partners in $1-billion JV for stressed assets

Värde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years

Aditya Birla Group and US investment firm Värde Partners on Wednesday announced an exclusive joint venture partnership to invest as much as $1 billion (about Rs 70 billion) in stressed assets in India. 

In a statement, Aditya Birla Capital (ABCL) and Värde Partners said both parties would evaluate investments across sectors, focusing on the acquisition, restructuring and resolution of non-performing assets (NPAs) as well as special situations financings. 

Given the current landscape and further prospects in asset reconstruction in India, ABCL and Värde believe there is an attractive pipeline for strong capital deployment opportunities over the next several years, it