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
Form ADV · Item 5.F
Client accounts
121
Accounts, not individual clients
Employees
197
Reported in this filing
Advisory professionals
64
Investment advisory functions

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client typeClientsRegulatory assetsShare of AUM
Pooled investment vehicles118$14,341,420,78588.9%
Other clientsFewer than 5$1,786,717,06311.1%
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 XII (MASTER) L.P.Hedge Fund · Last reported Jun 26, 2026$328MGross asset value

Feeder funds

  • THE VARDE FUND XII (A) (FEEDER), L.P.
  • THE VARDE FUND XII (A), L.P.
  • THE VARDE FUND XII (B) (FEEDER), L.P.
  • THE VARDE FUND XII BL, LLC
  • THE VARDE FUND XII BL-O LP
  • THE VARDE FUND XII (B), L.P.
  • THE VARDE FUND XII (C), L.P.
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.. 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
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
805-7299224848
Reported beneficial owners
218
Minimum commitment
$10M
Form D file number
021-259483
Form D file number
021-259484
Form D file number
021-259486

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 MORTGAGE FUND II (MASTER), L.P.Hedge Fund · Last reported Jun 26, 2026$233MGross asset value

Feeder funds

  • THE VARDE MORTGAGE FUND II FEEDER REIT, LLC
  • THE VARDE MORTGAGE FUND II, L.P.
  • THE VARDE MORTGAGE FUND II (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
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 185

GOLDMAN SACHS & CO. LLC
SEC 8-129

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

WELLS FARGO BANK, N.A.
LEI PBLD0EJDB5FWOLXP3B76

Fund details & source
Fund ID
805-7614156456
Reported beneficial owners
24
Minimum commitment
$10M
Form D file number
021-286468
Form D file number
021-301341

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 ASIA CREDIT FUND MASTER, L.P.Hedge Fund · Last reported Jun 26, 2026$231MGross asset value

Feeder funds

  • THE VARDE ASIA CREDIT FUND, L.P.
  • THE VARDE ASIA CREDIT 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 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 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

WELLS FARGO BANK, N.A.
LEI PBLD0EJDB5FWOLXP3B76

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

Fund details & source
Fund ID
805-1302894624
Reported beneficial owners
26
Minimum commitment
$5M
Form D file number
021-311421
Form D file number
021-311422
Form D file number
021-311423

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 ASSET LENDING FUND II (OFFSHORE), L.P.Hedge Fund · Last reported Jun 26, 2026$222MGross asset value

Feeder funds

  • THE VARDE ASSET LENDING FUND II (OFFSHORE) FEEDER, L.P.
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 WELLS FARGO BANK, N.A. SAN FRANCISCO, California, 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
No
External marketing
Yes

KPMG, LLP
PCAOB 185

GOLDMAN SACHS & CO. LLC
SEC 8-129

STANDARD CHARTERED BANK
LEI RILFO74KP1CM8P6PCT96

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
805-6720126735
Reported beneficial owners
7
Minimum commitment
$10M
Form D file number
021-415027
Form D file number
021-415028

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 (MASTER), L.P.Hedge Fund · Last reported Jun 26, 2026$199MGross asset value

Feeder funds

  • THE VARDE FUND XIV (A), L.P.
  • THE VARDE FUND XIV BL-O, 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
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
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

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
805-3314375560
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.

THE VARDE CRE LENDING FUND, L.P.Hedge Fund · Last reported Jun 26, 2026$191MGross asset value

Feeder funds

  • THE VARDE CRE LENDING 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 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 MISSURA CAPITAL LTD. HERZLIYA, Israel Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

KPMG, LLP
PCAOB 185

WELLS FARGO BANK, N.A.
LEI PBLD0EJDB5FWOLXP3B76

Fund details & source
Fund ID
805-7260660752
Reported beneficial owners
12
Minimum commitment
$5M
Form D file number
021-499242

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 XI (MASTER), L.P.Hedge Fund · Last reported Jun 26, 2026$182MGross asset value

Feeder funds

  • THE VARDE FUND XI (A) (FEEDER), L.P.
  • THE VARDE FUND XI (A), L.P.
  • THE VARDE FUND XI (B-2) (FEEDER), L.P.
  • THE VARDE FUND XI (B) (FEEDER), L.P.
  • THE VARDE FUND XI (B), L.P.
  • THE VARDE FUND XI (C), L.P.
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
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

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
805-6899300790
Reported beneficial owners
128
Minimum commitment
$10M
Form D file number
021-195565
Form D file number
021-195566
Form D file number
021-195567
Form D file number
021-219984

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.