The Varde
New York
Also known as Varde Management, L.P.
✨ Fox Verdict
Sign up to see your fitHQ
New York, NY
Fund performance · per public LP disclosures · 17
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Varde Fund XIVLPs: Minnesota State Board of Investment | 2022 | — | 9.4% | 1.16x | 0.08x |
| Varde Fund XIII, L.P.LPs: Minnesota State Board of Investment | 2018 | — | 8.9% | 1.41x | 0.83x |
| Varde Specialty Finance Fund, LPLPs: Empire State Development – New York Ventures | 2018 | — | — | 1.32x | 0.85x |
| Varde Scratch and Dent Feeder I-A, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2016 | — | 4.0% | 1.13x | 1.06x |
| Varde Fund XI, L.P.LPs: North Carolina Retirement Systems, Florida State Board of Administration, Minnesota State Board of Investment | 2014 | — | 4.3% | 1.32x | 1.19x |
| Varde Scratch and Dent Feeder, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2014 | — | 5.6% | 1.19x | 1.18x |
| The Varde Fund XI (C) LPLPs: Florida State Board of Administration | 2013 | — | 4.3% | 1.31x | 1.16x |
| VARDE FUND X LPLPs: Minnesota State Board of Investment, North Carolina Retirement Systems, Klarman Family Foundation +2 more | 2011 | — | 10.0% | 1.74x | 1.70x |
| The Varde Fund X (C) LPLPs: Florida State Board of Administration | 2010 | — | 9.8% | 1.72x | 1.68x |
| Varde Partners Fund X, L.P.LPs: Florida State Board of Administration | 2009 | — | 10.0% | 1.74x | 1.67x |
| Varde Fund IX, L.P.LPs: Minnesota State Board of Investment, Carnegie Corporation of New York, Rockefeller Foundation | 2008 | — | 15.0% | 2.17x | 2.17x |
| The Varde Fund XII-CLPs: Florida State Board of Administration | 2003 | — | 4.8% | 1.29x | 0.80x |
| Varde Select Fund, L.P.LPs: Washington State Investment Board | 1998 | — | 6.0% | 1.30x | 1.32x |
| The Varde Asia Credit Fund, L.P.LPs: Texas Municipal Retirement System | — | — | 8.7% | 1.58x | 1.19x |
| The Varde Dislocation Fund, L.P.LPs: Texas Municipal Retirement System | — | — | 9.2% | 1.34x | 0.97x |
| The Varde Private Debt Opportunities Fund (Onshore), L.P.LPs: Texas Municipal Retirement System | — | — | 8.2% | 1.61x | 1.27x |
| Varde Investment Partners, L.P.LPs: Texas Municipal Retirement System, Annie E. Casey Foundation, Klarman Family Foundation | — | — | — | 1.63x | 0.91x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- Where is The Varde located?
- The Varde is headquartered in New York.