Valcia Asset Management (Valcia), a specialist European credit investment manager, has today announced its launch.
Valcia is being established with the support of Värde Partners, a leading global investment firm specialising in credit and credit-related assets.
Subject to regulatory approval and becoming fully operational on 1 January 2027, Valcia will assume management of the Värde Liquid Credit Fund, which launched in 2023.
Valcia will be led by Carlos Sanz Esteve as partner & chief investment officer and expects to invest in European credit markets as a specialist credit manager. The firm consists of tenured European credit investors with extensive experience across the full spectrum of traded credit markets, with expertise in process-driven situations, capital structure arbitrage and relative value investing.
The firm is being created to provide a dedicated platform focused on European credit investing at a time when the team believes structural changes in credit markets are creating increasingly attractive opportunities for specialist investors.
Esteve said: "This is an exciting opportunity to build a focused specialist manager around a strategy and team in which we have strong conviction. Valcia brings together an experienced investment team, an established fund that has been operating and investing for three years and a substantial research platform, giving us the foundations to build a long-term business from day one.
“European credit markets have evolved considerably in recent years. We believe many of the most attractive opportunities now emerge from situations that require a combination of fundamental credit analysis, restructuring expertise, legal knowledge and active portfolio management.
“I would also like to thank our colleagues and Partners at Värde for their support throughout this process. We are incredibly proud of what we have built together over many years, and Valcia's launch is being made possible through a constructive and collaborative transition. We look forward to building on that foundation as we begin this next chapter."
