Varde Management, L.P.
- Regulatory AUM
- $16.1B
- Discretionary
- $16.1B
- Clients
- 121
- Avg AUM / client
- $133M
- Accounts
- 121
- Employees
- 197
AUM over time
Annual snapshots from Form ADV filings · as of Jun 26, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 118 | $14.3B | 88.9% |
| Other | 3 | $1.8B | 11.1% |
Private funds (44)
View all →Reported in Form ADV Section 7.B.(1), filing of Oct 2024 · $18.3B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| The Värde Fund Xiii, L.P. master | Hedge Fund | Cayman Islands | $2.8B | 238 |
| Vp Dislocation Fund Ii, L.P. | Hedge Fund | Cayman Islands | $2.2B | 862 |
| The Värde Dislocation Fund, L.P. master | Hedge Fund | Cayman Islands | $1.6B | 149 |
| Värde Investment Partners, L.P. | Hedge Fund | Delaware | $1.6B | 171 |
| Värde Investment Partners (Offshore) Master, L.P. master | Hedge Fund | Cayman Islands | $1.5B | 138 |
| The Värde Fund Xii (Master) L.P. master | Hedge Fund | Delaware | $901M | 217 |
| Värde Credit Partners Master, L.P. master | Hedge Fund | Cayman Islands | $773M | 139 |
| The Värde Fraser Fund, L.P. | Hedge Fund | Cayman Islands | $600M | 1 |
| The Värde Cardinal Fund, L.P. | Hedge Fund | Delaware | $541M | 2 |
| The Värde Asia Credit Fund Master, L.P. master | Hedge Fund | Cayman Islands | $493M | 27 |
| The Värde Skyway Master Fund, L.P. master | Hedge Fund | Cayman Islands | $417M | 29 |
| The Värde Skyway 2020 Fund, L.P. master | Hedge Fund | Cayman Islands | $366M | 21 |
| The Värde Mortgage Fund Ii (Master), L.P. master | Hedge Fund | Delaware | $350M | 24 |
| The Värde Specialty Finance Fund, L.P | Hedge Fund | Cayman Islands | $345M | 14 |
| The Värde Mortgage Fund Iii Master, L.P. master | Hedge Fund | Delaware | $303M | 10 |
People (16)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Hicks, George, Glotfelter | Co Executive Chair And Limited Partner | Mar 2006 (20y) | 10% – 25% | |
| Page, Marcia, Lynn | Co Executive Chair And Limited Partner | Mar 2006 (20y) | Less than 5% | |
| Marple, David, Arthur | Limited Partner | Apr 2008 (18y) | Less than 5% | |
| Lenk, Andrew, Paul | Deputy Chief Executive Officer And Limited Partner | Jan 2009 (18y) | 5% – 10% | |
| Carstairs, Ilfryn, Cheyney | Co Chief Executive Officer, Co Chief Investment Officer And Limited Partner | Jan 2011 (16y) | 5% – 10% | |
| Bauer, Bradley, Philip | Co Chief Executive Officer, Co Chief Investment Officer And Limited Partner | Jan 2013 (14y) | 10% – 25% | |
| Mooney, Timothy, James | Limited Partner | Jan 2016 (11y) | 5% – 10% | |
| Naglieri, Giuseppe | Co Chief Investment Officer And Limited Partner | Jan 2016 (11y) | 5% – 10% | |
| Milone, Francisco | Limited Partner | Jan 2018 (9y) | 5% – 10% | |
| Malik, Haseeb, Kamal | Limited Partner | Jan 2019 (8y) | 5% – 10% | |
| Dunbar, James, Edward | Limited Partner | Jan 2022 (5y) | 5% – 10% | |
| Malone, Andrew, Charles | General Counsel And Limited Partner | Jan 2022 (5y) | Less than 5% | |
| Sanz Esteve, Carlos | Limited Partner | Jan 2022 (5y) | 5% – 10% | |
| Medina, Kevin, Todd | Global Chief Compliance Officer | Sep 2023 (3y) | Less than 5% | |
| Gallagher, Shannon, Rae | Limited Partner | Jan 2024 (3y) | Less than 5% | |
| Iannazzo, Anthony, Clifford | Chief Operating Officer And Limited Partner | Jan 2024 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Värde Management, Inc. | General Partner | Mar 2006 | A | Less than 5% |
| Värde Hus, L.P. | Limited Partner | Jan 2018 | A | Less than 5% |
Undisclosed: 0% – 40% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (44, $18.3B gross assets)
Top 25 of 44 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 06/26/2026 | 12.7 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Goldman Sachs $245M (1% of AUM) Feb 2025
- Societe Generale S.A. Dublin Branch $141M (1% of AUM) Feb 2025
- Citco Banking Corporation N.V. $70.8M (0% of AUM) Feb 2024
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jun 26, 2026.
View current Form ADV (SEC/IAPD) ↗