The VARDE MANAGEMENT, L.P. is a privately held investment adviser that advises $34.68Bn in regulatory assets under management held in 2 SEC fund types across 7 investment strategies. VARDE MANAGEMENT, L.P. is a Private Fund A private fund manager is a manager whose >=75% of total assets under management are in private funds (privately offered pooled vehicles for accredited or qualified investors, generally accessed through placements with higher minimums, restricted eligibility, and negotiated terms) Manager. Assets increased by 65.3% over the last 5-years.
The Group has been registered with the SEC for 17.09 years and is comprised of 1 filing and 6 relying advisers. They operate out of 2 office locations with their Headquarters at 520 MADISON AVENUE 34TH FLOOR, NEW YORK, NY. The Group has not been subject to regulatory enforcement actions. They are regulated by 3 US and Non-US bodies.
They have 206 employees comprised of 65 investment and 141 non-investment staff. The total number of Employees decreased by 34.19% over the last 5-years.
Their $34.68Bn in assets advised are owned by 123 private funds, 0 public funds and BDCs and 0 other accounts. Assets of Pooled Investment Vehicles (Not IC or BDC) clients total $34.68Bn or 100% of Total Assets.
The Group's top investment strategies include FI/Credit - Diverse, FI/Credit - Asset Backed Securities and FI/Credit - Distress, representing 88.52%, 3.16% and 2.93% of total assets, respectively.
They advise 1 types of clients, top clients are Pooled Investment Vehicles (Not IC or BDC).
The Group uses 1 Fund Administrators, 1 Fund Auditors, 1 Prime Brokers, 8 Custodians and 6 Marketers. It does not report a third-party Fund Administrator in 71 private funds with $7.31Bn in assets.
The Group discloses management fees and performance-based fees.
VARDE MANAGEMENT, L.P. names 1 sub-adviser ALTER DOMUS MANAGEMENT COMPANY S.A. to 1 different fund advised by the group. The Group has been named as the sub-adviser to 0 funds.
They have a HIGH-WATCH risk business model that requires a high degree of process maturity to manage operational risk. A Manager Group has a "High Complexity" when 25% or more of 63 business conditions measured require a high level of process maturity to manage the risk. The "Watch" suffix indicates that one or more of the following business conditions carry a high-complexity score: 1) % Fund Assets Valued Internally, 2) prior Regulatory Violations, 3) Unqualified Audits, 4) Multi-Functional C-Suite and 5) Business Concentration Risk with an Auditor or Administrator.
In VARDE MANAGEMENT, L.P.'s case, they have 16 business conditions that require high process maturity and 1 Watch Factors.