Värde Partners was founded in 1993 by three former Cargill financial executives, George Hicks, Marcia Page and Greg McMillan.

[2][3] Värde originally started as a hedge fund that focused on distressed securities and grew slowly in its early years before expanding into other alternative investments.

[3][5][6] In March 2015, consortium of investors that included Värde, Deutsche Bank and Kohlberg Kravis Roberts acquired GE Capital's consumer lending business in Australia and New Zealand for $6.3 billion.

[9] In January 2018, Värde and Apollo Global Management acquired a 40.5% stake of OneMain Financial from Fortress Investment Group for $1.4 billion.

[11] In March 2023, Värde was reported to have made over $50 million in profits after it invested in senior unsecured bonds and held equity short positions in Credit Suisse.

Värde increased its bond investment when it the acquisition of Credit Suisse by UBS looked more likely and would spare the bondholders from most losses.