Varde Management, L.P. is a large advisory firm based in Minneapolis. It manages $18.98 billion of regulatory assets for 78 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Minnesota and Texas.
Varde Management provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Varde Management, L.P. is $18.98 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 367% since the beginning of its operation, and $8.79 billion of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Varde Management, L.P. for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The only and largest group of clients of Varde Management is pooled investment vehicles with 78 clients and $18.98 billion of assets under management. Among the 10 most similar advisory firms, Varde Management has the highest percentage of pooled investment vehicles out of all clients.
The amount of regulatory assets under management is $18.98 billion for 78 clients. 46% of the firm’s clients are foreign persons or businesses.
Varde Management also advises several private funds. Namely, thirty three hedge funds. The minimum investment commitment required of non-related persons ranges from $1 to $10,000,000.
The company employs 303 people that are either part- or full-time employees. 31 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.
There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
The principal office where Varde Management, L.P. performs its advisory services is located at 901 Marquette Avenue South, Minneapolis, MN 55402, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 952-893-1554 or by fax 952-893-9613. The normal business hours are 7:00 a.m. - 6:00 p.m. on Monday - Friday. You can find more information about the New York firm at varde.com.