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 X (MASTER), L.P.Hedge Fund · Last reported Jun 26, 2026$55.2MGross asset value

Feeder funds

THE VARDE FUND X(A) (FEEDER), L.P.
THE VARDE FUND X(A), L.P.
THE VARDE FUND X(B) (FEEDER), L.P.
THE VARDE FUND X(B), L.P.
THE VARDE FUND X(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 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

WELLS FARGO BANK, N.A.
LEI PBLD0EJDB5FWOLXP3B76

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

Fund details & source

Fund ID: 805-4720296987
Reported beneficial owners: 135
Minimum commitment: $10M
Form D file number: 021-138706
Form D file number: 021-138707
Form D file number: 021-138708

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 SCRATCH AND DENT MASTER I-A, L.P.Hedge Fund · Last reported Jun 26, 2026$11.3MGross asset value

Feeder funds

THE VARDE SCRATCH AND DENT FEEDER I-A, L.P.
THE VARDE SCRATCH AND DENT FEEDER REIT I-A, LLC
THE VARDE SCRATCH AND DENT OFFSHORE FEEDER I-A, L.P.

Auditor KPMG, LLP MINNEAPOLIS, Minnesota, United States

Provider details

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

KPMG, LLP
PCAOB 185

Fund details & source

Fund ID: 805-8623192211
Reported beneficial owners: 18
Minimum commitment: $10M
Form D file number: 021-270601
Form D file number: 021-270604
Form D file number: 021-276809

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 2016A, L.P.Hedge Fund · Last reported Jun 26, 2026$4.38MGross asset value

Form D fundraising filings

Varde Co-Investment 2016A, 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: 805-5563630396
Reported beneficial owners: 8
Minimum commitment: $1
Form D file number: 021-271479

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 SCRATCH AND DENT MASTER, L.P.Hedge Fund · Last reported Jun 26, 2026$4.21MGross asset value

Feeder funds

SUNVARD LP
CPSNL SCRATCH AND DENT CAYMAN FEEDER, LTD.
THE VARDE SCRATCH AND DENT FEEDER, L.P.
THE VARDE SCRATCH AND DENT FEEDER REIT, LLC
THE VARDE SCRATCH AND DENT OFFSHORE FEEDER, L.P.

Auditor KPMG, LLP MINNEAPOLIS, Minnesota, United States

Provider details

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

KPMG, LLP
PCAOB 185

Fund details & source

Fund ID: 805-3528229322
Reported beneficial owners: 21
Minimum commitment: $10M
Form D file number: 021-226252
Form D file number: 021-226253
Form D file number: 021-226255
Form D file number: 021-231457

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, L.P.Hedge Fund · Last reported Feb 14, 2024$844MGross asset value

Form D fundraising filings

VP Dislocation 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 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 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 185

GOLDMAN SACHS & CO. LLC
SEC 8-129

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

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: 805-3691960542
Reported beneficial owners: 624
Minimum commitment: $500K
Form D file number: 021-356020

Form ADV 1824671 · Feb 14, 2024 · 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 VÄRDE MORTGAGE FUND III (MASTER), L.P.Hedge Fund · Last reported May 22, 2020$227MGross asset value

Feeder funds

THE VARDE MORTGAGE FUND III FEEDER REIT, LLC
THE VARDE MORTGAGE FUND III, L.P.
THE VARDE MORTGAGE FUND III (OFFSHORE), L.P.
THE VARDE MORTGAGE FUND III SPLITTER, 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 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 KEYWEST GLOBAL INVESTMENTS 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: Yes
External marketing: Yes

KPMG
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: 805-1715507839
Reported beneficial owners: 9
Minimum commitment: $10M
Form D file number: 021-353562
Form D file number: 021-353566
Form D file number: 021-353570

Form ADV 1417540 · May 22, 2020 · 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 VÄRDE JÄRNVÄG FUND, L.P.Hedge Fund · Last reported Feb 14, 2024$125MGross asset value

Form D fundraising filings

Varde Jarnvag Fund, L.P.

Auditor KPMG, LLP MINNEAPOLIS, Minnesota, United States

Custodian GOLDMAN SACHS & CO. 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: No
External marketing: No

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: 805-2563458264
Reported beneficial owners: 1
Minimum commitment: $125M
Form D file number: 021-368287

Form ADV 1824671 · Feb 14, 2024 · 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.