Värde Partners, a leading global investment firm, and Chesswood Group Limited, a specialty finance company with 40 years of experience in the commercial equipment finance market, announced an agreement for the forward purchase of equipment loan and lease receivables originated by Chesswood subsidiaries Pawnee Leasing Corporation and Tandem Finance Inc.

"We are excited to work with Värde Partners as part of expanding Chesswood's U.S. equipment finance business," said Ryan Marr, President and CEO of Chesswood. "Värde's deep expertise in equipment finance and long-term investment approach makes them an ideal funding partner for the Chesswood Group of companies."

"We are pleased to support the growth of Pawnee Leasing and Tandem Finance given their respected positions and long operating history in small-ticket equipment finance," said Aneek Mamik, Partner and Global Head of Financial Services from Varde Partners. "This funding of high quality equipment builds on our leading position in providing asset lending solutions to underserved parts of the economy. Hard asset backed financing provides particularly good downside protection in an uncertain economic environment while allowing us to participate in industries where capex spending remains robust."

Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Värde manages over $13 billion in assets with teams in North America, Europe, and Asia Pacific focused on Corporate & Traded Credit, Real Estate, and Financial Services.