Investment adviser · CRD 148949

VARDE MANAGEMENT, L.P.

Investment adviser filing (IA)

NEW YORK, NY, United States · Form ADV filed Jun 26, 2026

Regulatory AUM: $16.1B
Client accounts: 121
Employees: 197
Advisory professionals: 64

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
Pooled investment vehicles	118	$14,341,420,785	88.9%
Other clients	Fewer than 5	$1,786,717,063	11.1%

Filing source

Form ADV 2115865 · Jun 26, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

50+ Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

Browse the first 49 funds across 7 pages.

THE VARDE FUND VI-A, L.P.Hedge Fund · Last reported Jun 26, 2026$90.9MGross asset value

Auditor KPMG, LLP MINNEAPOLIS, Minnesota, United States

Custodian GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No

Custodian MADISON PACIFIC TRUST LIMITED HONG KONG, Hong Kong Related to adviser: No

Custodian STANDARD CHARTERED BANK MUMBAI, India Related to adviser: No

Custodian THE BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No

Custodian THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED MUMBAI, India Related to adviser: No

Custodian WELLS FARGO BANK, N.A. SAN FRANCISCO, California, United States Related to adviser: No

Prime broker GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

KPMG, LLP
PCAOB 185

GOLDMAN SACHS & CO. LLC
SEC 8-129

MADISON PACIFIC TRUST LIMITED
LEI 254900OP094T36TCX227

STANDARD CHARTERED BANK
LEI RILFO74KP1CM8P6PCT96

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
LEI 2HI3YI5320L3RW6NJ957

WELLS FARGO BANK, N.A.
LEI PBLD0EJDB5FWOLXP3B76

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 8-129

Fund details & source

Fund ID: 805-7425926059
Reported beneficial owners: 2
Minimum commitment: $1M

Form ADV 2115865 · Jun 26, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

THE VARDE FUND XIV (PARALLEL MASTER), L.P.Hedge Fund · Last reported Jun 26, 2026$79.4MGross asset value

Feeder funds

THE VARDE FUND XIV (A), L.P.
THE VARDE FUND XIV BL, LLC
THE VARDE FUND XIV (B), L.P.

Fund administrator SS&C TECHNOLOGIES, INC. WINDSOR, Connecticut, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor KPMG, LLP MINNEAPOLIS, Minnesota, United States

Custodian GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No

Marketer KOREA ASSET INVESTMENT SECURITIES CO., LTD. SEOUL, Korea, South Related to adviser: No

Marketer MISSURA CAPITAL LTD. HERZLIYA, Israel Related to adviser: No

Prime broker GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

KPMG, LLP
PCAOB 185

GOLDMAN SACHS & CO. LLC
SEC 8-129

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 8-129

Fund details & source

Fund ID: 805-3823425656
Reported beneficial owners: 17
Minimum commitment: $10M
Form D file number: 021-459276
Form D file number: 021-459277

Form ADV 2115865 · Jun 26, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

VICVARD L.P.Hedge Fund · Last reported Jun 26, 2026$75.7MGross asset value

Auditor KPMG, LLP GEORGE TOWN, Cayman Islands

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: No
Administrator other than the adviser: No
External marketing: No

KPMG, LLP
PCAOB 1323

Fund details & source

Fund ID: 805-7369095542
Reported beneficial owners: 1
Minimum commitment: $1

Form ADV 2115865 · Jun 26, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

THE VARDE LIQUID CREDIT FUND, L.P.Hedge Fund · Last reported Jun 26, 2026$71.9MGross asset value

Feeder funds

THE VARDE LIQUID CREDIT FUND (OFFSHORE), L.P.

Fund administrator SS&C TECHNOLOGIES, INC. WINDSOR, Connecticut, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor KPMG, LLP MINNEAPOLIS, Minnesota, United States

Custodian GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No

Custodian THE BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No

Marketer MISSURA CAPITAL LTD HERZLIYA, Israel Related to adviser: No

Prime broker GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

KPMG, LLP
PCAOB 185

GOLDMAN SACHS & CO. LLC
SEC 8-129

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 8-129

Fund details & source

Fund ID: 805-7432902701
Reported beneficial owners: 9
Minimum commitment: $1M
Form D file number: 021-490980

Form ADV 2115865 · Jun 26, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

THE VARDE EUROPE MASTER FUND, L.P.Hedge Fund · Last reported Jun 26, 2026$67.1MGross asset value

Feeder funds

THE VARDE EUROPE FUND, L.P.
THE VARDE EUROPE FUND (OFFSHORE), L.P.
THE VARDE EUROPE MINI-MASTER VEHICLE (OFFSHORE), L.P.

Auditor KPMG, LLP GEORGE TOWN, Cayman Islands

Custodian GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No

Custodian THE BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No

Custodian WELLS FARGO BANK, N.A SAN FRANCISCO, California, United States Related to adviser: No

Prime broker GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

KPMG, LLP
PCAOB 1323

GOLDMAN SACHS & CO. LLC
SEC 8-129

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

WELLS FARGO BANK, N.A
LEI PBLD0EJDB5FWOLXP3B76

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 8-129

Fund details & source

Fund ID: 805-8679557347
Reported beneficial owners: 65
Minimum commitment: $10M
Form D file number: 021-229154
Form D file number: 021-229155

Form ADV 2115865 · Jun 26, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

VARDE CO-INVESTMENT D-1, L.P.Hedge Fund · Last reported Jun 26, 2026$63.4MGross asset value

Form D fundraising filings

Varde Co-Investment D-1, L.P.

Feeder funds

VARDE CO-INVESTMENT C-1, L.P.
VARDE CO-INVESTMENT C-1 REIT, LLC

Auditor KPMG, LLP MINNEAPOLIS, Minnesota, United States

Custodian WELLS FARGO BANK, N.A. SAN FRANCISCO, California, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

KPMG, LLP
PCAOB 185

WELLS FARGO BANK, N.A.
LEI PBLD0EJDB5FWOLXP3B76

Fund details & source

Fund ID: 805-5876230760
Reported beneficial owners: 2
Minimum commitment: $1
Form D file number: 021-408195
Form D file number: 021-408200

Form ADV 2115865 · Jun 26, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

VARDE CO-INVESTMENT 2015A, L.P.Hedge Fund · Last reported Jun 26, 2026$58.5MGross asset value

Form D fundraising filings

Varde Co-Investment 2015A, L.P.

Auditor KPMG, LLP GEORGE TOWN, Cayman Islands

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: No
Administrator other than the adviser: No
External marketing: No

KPMG, LLP
PCAOB 1323

Fund details & source

Fund ID: 805-4584003231
Reported beneficial owners: 12
Minimum commitment: $1
Form D file number: 021-250100

Form ADV 2115865 · Jun 26, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Jun 26, 2026. View historical filings

Reported services

Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

520 MADISON AVENUE, 34TH FLOOR
NEW YORK, NY, 10022, United States

CRD 148949

Filing source

Form ADV 2115865 · Jun 26, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.