Virage Capital Management Lp
- Regulatory AUM
- $588M
- Discretionary
- $558M
- Clients
- 9
- Avg AUM / client
- $65.4M
- Accounts
- 9
- Employees
- 12
AUM over time
Annual snapshots from Form ADV filings · as of Mar 30, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 6 | $468M | 79.5% |
| Corporations and other businesses | 1 | $6.9M | 1.18% |
| Other | 2 | $113M | 19.3% |
Private funds (9)
Reported in Form ADV Section 7.B.(1), filing of Jul 2024 · $892M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Virage Recovery Master Lp master | Private Equity Fund | Delaware | $444M | 38 |
| Series 4 Virage Master Lp master | Hedge Fund | Delaware | $184M | 85 |
| Series 5 Virage Master Lp master | Hedge Fund | Delaware | $182M | 6 |
| Series 6 Virage Master Lp master | Hedge Fund | Delaware | $35.7M | 3 |
| Wam Series 1 Virage Master Lp master | Hedge Fund | Delaware | $28.2M | 4 |
| Series 2 Virage Master Lp master | Hedge Fund | Delaware | $7.2M | 50 |
| Virage Opportunity Fund Lp | Hedge Fund | Delaware | $4.7M | 1 |
| Series 1 Virage Master Lp master | Hedge Fund | Delaware | $3.7M | 10 |
| Series 3 Virage Master Lp master | Hedge Fund | Delaware | $3.0M | 19 |
People (4)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Shellist, Martin, Adam | Managing Director, Head Of Legal Research | Apr 2012 (14y) | 25% – 50% | |
| Edward Mark Ondarza | Managing Director And Portfolio Manager | May 2013 (13y) | ≈ 37.5% – 75% via Rocky River Investments, Llc | |
| Patterson, Kevin, Bryan | Managing Director, Chief Operating Officer, And Chief Compliance Officer | Jul 2014 (12y) | ≈ 7.5% – 25% via Ojai Dlf, Llc | |
| Blase, Harrison, Albert | Chief Financial Officer | Oct 2017 (9y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Rocky River Investments, Llc | Special Limited Partner | May 2016 | A | 50% – 75% |
| Ojai Dlf, Llc | Special Limited Partner | May 2016 | A | 10% – 25% |
| Virage Llc | General Partner | Apr 2012 | A | Less than 5% |
Undisclosed: 0% – 15% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Edward Mark Ondarza: 75% – 100% of Rocky River Investments, Llc × 50% – 75% direct ≈ 37.5% – 75% of the firm
- Patterson, Kevin, Bryan: 75% – 100% of Ojai Dlf, Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
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 (9, $892M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Virage Recovery Master Lp | Private Equity Fund | $444M | $10.0M | 38 |
| Series 4 Virage Master Lp | Hedge Fund | $184M | $100K | 85 |
| Series 5 Virage Master Lp | Hedge Fund | $182M | $100K | 6 |
| Series 6 Virage Master Lp | Hedge Fund | $35.7M | $100K | 3 |
| Wam Series 1 Virage Master Lp | Hedge Fund | $28.2M | $100K | 4 |
| Series 2 Virage Master Lp | Hedge Fund | $7.2M | $100K | 50 |
| Virage Opportunity Fund Lp | Hedge Fund | $4.7M | $5.0M | 1 |
| Series 1 Virage Master Lp | Hedge Fund | $3.7M | $100K | 10 |
| Series 3 Virage Master Lp | Hedge Fund | $3.0M | $100K | 19 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/30/2026 | 2.44 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Allegations: THE CALIFORNIA LENDING LICENSE OF THIS PRIVATE FUND CLIENT WAS TEMPORARILY REVOKED ON APRIL 3, 2020, DUE TO AN ADMINISTRATIVE OVERSIGHT INVOLVING A DELAYED ANNUAL FILING WHICH WAS RECTIFIED ALLOWING REINSTATEMENT OF THE LICENSE ON MAY 13, 2020. Status: Final Sanction Detail: THE CALIFORNIA LENDING LICENSE OF THIS PRIVATE FUND CLIENT WAS TEMPORARILY REVOKED ON APRIL 3, 2020, DUE TO AN ADMINISTRATIVE OVERSIGHT INVOLVING A DELAYED ANNUAL FILING WHICH WAS RECTIFIED ALLOWING REINSTATEMENT OF THE LICENSE ON MAY 13, 2020, PURSUANT TO A CONSENT ORDER. THE ENTITY PAID AN ADMINISTRATIVE PENALTY OF $6,500 IN CONNECTION WITH THAT REINSTATEMENT. Summary: THE CALIFORNIA LENDING LICENSE OF THIS PRIVATE FUND CLIENT WAS TEMPORARILY REVOKED ON APRIL 3, 2020, DUE TO AN ADMINISTRATIVE OVERSIGHT INVOLVING A DELAYED ANNUAL FILING WHICH WAS RECTIFIED ALLOWING REINSTATEMENT OF THE LICENSE ON MAY 13, 2020, PURSUANT TO A CONSENT ORDER. THE ENTITY PAID AN ADMINISTRATIVE PENALTY IN CONNECTION WITH THAT REINSTATEMENT.
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Reported custodians
- Delaware Trust $67.6M (10% of AUM) Mar 2025
- Bank Of America, National Association $6.1M (1% of AUM) Sep 2022
- J.P. Morgan $4.4M (1% of AUM) Mar 2026
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: Mar 30, 2026.
View current Form ADV (SEC/IAPD) ↗