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Varde Management LP

Last Updated: 12/3/2020

Varde Management LP is a Limited Partnership that started in 1993 and is primarily owned and controlled by Sixteen Partners.

Varde sponsors and manages a family of private investment funds. The closed-end funds are structured in a "private quity" format, typically have a stated investment period and term. In addition, Värde from time to time forms Private Funds that are co-investment vehicles designed to participate in particular investments or opportunities alongside other Private Funds. Varde invests in five core segments and diverse strategies within each segment: Corporate and Traded Credit, Financial Services, Real Estate, Real Assets and Infrastructure, and Mortgages.

Varde Management LP operates out of an office in Minneapolis, MN. Based on the Form ADV filed on 2020-05-22 00:00:00, the investment firm is comprised of 313 employees, only 96 of whom performs investment advisory functions.

Fact Sheet

      Name: Varde Management LP
      CRD No: 148949
      Filing Recorded: 2020-05-22 00:00:00
      Year of Origin: 1993
      Employees: 313
      Clients: 87
      AUM: 20,980,302,820
      Management Fee: Unknown Percent
      Performance Fee: Unknown Percent
      Client Type: Pooled Investment Vehicles
      Assets Traded: Unspecified


Investment Strategy

According to the brochure submitted to IAPD, Varde Managements investment strategy is as follows:

Details regarding the investment and liquidity profile pursued by each Private Fund, as well as additional information regarding Värde’s investment strategies and activities, are set forth in the Offering Documents related to each Private Fund. Subject to the investment parameters set forth in each Private Fund’s Offering Documents, Värde pursues investment strategies across geographies in a broad range of asset classes. Värde’s investing activity is conducted by five global investment teams:

 Corporate and Traded Credit: This team focuses on restructurings, liquidations and opportunistic traded credit and equity in both corporate and government issued instruments.

 Mortgages: This team focuses on commercial and residential mortgages including new originations, secondary loans and portfolios, securities, mortgage servicing rights (“MSRs”) and commercial loan servicing.

 Financial Services: This team pursues private equity investments in financial services businesses, including insurance, specialty finance, trust and corporate services, payments and asset management.

 Real Estate: This team focuses on opportunistic and value-add investments in real estate assets (both residential and commercial), operating companies, and real estate secured debt.

 Real Assets and Infrastructure: This team focuses on private credit and asset-level equity investments in energy, energy-related infrastructure, transportation and logistics, and related industries.

Methods of Analysis

In addition, Varde Managements methods of analysis include:

Värde invests across global markets, asset classes and industries, and individual investment opportunities will require varying levels of review and customized processes depending upon the investment, the status of the markets and the participants involved. Depending on the nature of the investment, Värde will apply the following methods of analysis:

 Performance of quantitative and qualitative fundamental research to identify potential investments and determine the suitability of a particular investment on both its own merits as well as its “fit” in terms of industry or macro theme.

 Completion of a financial analysis based on comparable valuations in the liquid and illiquid markets, a discounted cash flow analysis, a re-organization and/or liquidation analysis and/or an analysis of potential returns for the investment.

 Review of the corporate structure and specific collateral packages (as applicable).

 Performance of an operational review of the investment, including assessment of management and ESG considerations (as applicable).

Top 10 Holdings from Form 13F

Reporting Period: 03/31/2019

Issuer Share Value(1000s) Put/Call
ONEMAIN HLDGS INC 11,355,568 360,500
LILIS ENERGY INC 23,594,401 24,400
WESTERN COPPER & GOLD CORP 3,740,300 2,100
SPDR S&P 500 ETF TR 22,936 600 Put

Historical 13F Filings

EdgeGiant has compiled all 13F filings since Q2 2013 for your convenience. You can view historical portfolio position forVarde Management LPin our 13F section HERE.

To get the comprehensive list of holdings that fall under 13F regulatory guidelines, check out our write up on how to access and use 13Fs in your personal investment decisions.

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Historical Portfolio Holdings for Varde Management LP