HedgeCo.Net — Valcia Asset Management, a specialist European credit investment manager, launched on September 29, 2026 with backing from Värde Partners, according to Alternative Credit Investor and Investment Week. Subject to regulatory approval, Valcia is expected to be fully operational from January 1, 2027 and will take over management of the Värde Liquid Credit Fund, which launched in 2023.
The firm is headed by Carlos Sanz Esteve as partner and chief investment officer. Sanz Esteve spun the platform out of Värde, where he most recently led European corporate and traded credit. Coverage cites Värde as managing about $15 billion of assets. Partner Hamish Goar was quoted on launching with an existing vehicle, established investors, and a long-standing research platform.
Valcia describes a team of European credit investors spanning traded credit markets, with expertise in process-driven situations, capital structure arbitrage, and relative value. Sanz Esteve said attractive opportunities increasingly require combining fundamental credit analysis, restructuring expertise, legal knowledge, and active portfolio management as European credit markets evolve.
For private-credit and liquid-credit LPs watching Europe spinouts, the hard marks are the September 29 launch announcement, Värde’s backing, the planned January 1, 2027 operational start subject to approval, takeover of the Värde Liquid Credit Fund, and Sanz Esteve as CIO. Do not invent AUM for Valcia or fund performance figures that were not published.