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 XIII, L.P.Hedge Fund · Last reported Jun 26, 2026$1.66BGross asset value

Feeder funds

THE VARDE FUND XIII (A) (FEEDER), L.P.
THE VARDE FUND XIII (B) (FEEDER), L.P.
THE VARDE FUND XIII BL II, LLC
THE VARDE FUND XIII BL, LLC
THE VARDE FUND XIII BL-O, 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 MADISON PACIFIC TRUST LIMITED HONG KONG, Hong Kong Related to adviser: No

Custodian SOCIETE GENERALE S.A. DUBLIN BRANCH DUBLIN, Ireland 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

Marketer MORGAN STANLEY NEW YORK, New York, United States Related to adviser: No

Marketer SAMSUNG SECURITIES CO., LTD. SEOUL, Korea, South 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: Yes

KPMG, LLP
PCAOB 1323

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

MORGAN STANLEY
CRD 149777 · SEC 801-70103

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

Fund details & source

Fund ID: 805-4504376619
Reported beneficial owners: 241
Minimum commitment: $10M
Form D file number: 021-322860
Form D file number: 021-322862
Form D file number: 021-322863

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.

VP DISLOCATION FUND II, L.P.Hedge Fund · Last reported Jun 26, 2026$1.3BGross asset value

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

Auditor KPMG, LLP GEORGE TOWN, Cayman Islands

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

Custodian SOCIETE GENERALE S.A. DUBLIN BRANCH DUBLIN, Ireland 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

Marketer J.P. MORGAN SECURITIES LLC NEW YORK, New York, 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: Yes
External marketing: Yes

KPMG, LLP
PCAOB 1323

GOLDMAN SACHS & CO. LLC
SEC 8-129

STANDARD CHARTERED BANK
LEI RILFO74KP1CM8P6PCT96

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

J.P. MORGAN SECURITIES LLC
CRD 79 · SEC 801-3702

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

Fund details & source

Fund ID: 805-9317404236
Reported beneficial owners: 864
Minimum commitment: $500K
Form D file number: 021-43739

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 CREDIT PARTNERS MASTER, L.P.Hedge Fund · Last reported Jun 26, 2026$951MGross asset value

Feeder funds

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

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 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

Marketer INTRODUCTION CAPITAL INC. TORONTO, Canada Related to adviser: No

Marketer J.P. MORGAN SECURITIES LLC 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 1323

GOLDMAN SACHS & CO. LLC
SEC 8-129

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
LEI 2HI3YI5320L3RW6NJ957

WELLS FARGO BANK, N.A.
LEI PBLD0EJDB5FWOLXP3B76

J.P. MORGAN SECURITIES LLC
CRD 79 · SEC 801-3702

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

Fund details & source

Fund ID: 805-1707937384
Reported beneficial owners: 105
Minimum commitment: $250K
Form D file number: 021-189136
Form D file number: 021-189137

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 CARDINAL FUND, L.P.Hedge Fund · Last reported Jun 26, 2026$854MGross asset value

Form D fundraising filings

Varde Cardinal Fund, 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 SOCIETE GENERALE S.A. DUBLIN BRANCH DUBLIN, Ireland 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 MUMAI, India 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: No

KPMG, LLP
PCAOB 185

GOLDMAN SACHS & CO. LLC
SEC 8-129

STANDARD CHARTERED BANK
LEI RILFO74KP1CM8P6PCT96

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
LEI 2HI3YI5320L3RW6NJ957

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

Fund details & source

Fund ID: 805-4083127917
Reported beneficial owners: 2
Minimum commitment: $1
Form D file number: 021-451433

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 DISLOCATION FUND, L.P.Hedge Fund · Last reported Jun 26, 2026$832MGross asset value

Feeder funds

THE VARDE DISLOCATION FUND BL II, LLC
THE VARDE DISLOCATION FUND BL, LLC
THE VARDE DISLOCATION FUND (OFFSHORE) B, LLC
THE VARDE DISLOCATION FUND (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 MADISON PACIFIC TRUST LIMITED HONG KONG, Hong Kong Related to adviser: No

Custodian SOCIETE GENERALE S.A. DUBLIN BRANCH DUBLIN, Ireland 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

Marketer KOREA ASSET INVESTMENT SECURITIES CO., LTD. SEOUL, Korea, South 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: Yes

KPMG, LLP
PCAOB 1323

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

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

Fund details & source

Fund ID: 805-1956891673
Reported beneficial owners: 145
Minimum commitment: $10M
Form D file number: 021-368781
Form D file number: 021-368782

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 TC FUND, L.P.Hedge Fund · Last reported Jun 26, 2026$763MGross asset value

Feeder funds

THE VARDE TC FEEDER FUND, 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: 805-8891162888
Reported beneficial owners: 6
Minimum commitment: $1
Form D file number: 021-425874
Form D file number: 021-425876

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 FRASER FUND, L.P.Hedge Fund · Last reported Jun 26, 2026$722MGross asset value

Form D fundraising filings

Varde Fraser Fund, 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 GEORGE TOWN, Cayman Islands

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: Yes
External marketing: No

KPMG, LLP
PCAOB 1323

WELLS FARGO BANK, N.A.
LEI PBLD0EJDB5FWOLXP3B76

Fund details & source

Fund ID: 805-7203573565
Reported beneficial owners: 1
Minimum commitment: $1
Form D file number: 021-518649

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.