[Charley Walters] Look for Minneapolis-based Varde Partners, a worldwide multi-billion dollar credit investment corporation, to be announced soon as a limited partner with the Minnesota Twins

12 comments

  1. There aren’t really any additional details in his column, here’s the full text of the blurb from his “Don’t Print That” section:

    > Pssst: Look for Minneapolis-based Varde Partners, a worldwide multi-billion dollar credit investment corporation, to be announced soon as a limited partner with the Minnesota Twins. The firm is one of at least two limited partners expected to assist in diminishing the team’s reported $500 million debt.

  2. Distressed asset and right-sizing specialists. They’ll get along great with the Pohlads.

  3. What to you expect when a mortgage scammer and his progeny have owned the team for 40 years?

  4. Varde specializes in distressed securities. The only reason they came on as a minority owner is A: The Twins wont bankrupt and B: they know they will get their money back out of it and then some after the lockout and the team goes up for sale again. Varde has no interest in owning the team. The investment is a low risk investment comparatively to the companies they normally are investing in provided this information is even close to being correct.

  6. Hmmm… this _might_ point to the idea that they aren’t around for the long term and are simply restructuring for some future payoff.

    Somebody smarter than me might need to dig into this, because I’m curious what the MLB office knows about the situation.

  10. Because we all know that venture capital firms always want the best for the companies that they buy

Leave a Reply