RIA Intelligence

VARDE MANAGEMENT, L.P.

CRD #148949 SEC #801-69821 NEW YORK, NY 212-321-3780

SEC Registered Private Funds

Total AUM

$18B

Discretionary

$18B

Employees

206

Clients

--

Accounts

117

Fund Name	Type	GAV	Investors	Auditor
THE VARDE SKYWAY MASTER FUND, L.P.	Hedge Fund	$333.7M	29	KPMG, LLP
THE VÄRDE SPECIALTY FINANCE FUND, L.P	Hedge Fund	$312.3M	14	KPMG, LLP
THE VARDE SPECIALTY FINANCE FUND, L.P	Hedge Fund	$312.3M	14	KPMG, LLP
THE VARDE SPECIALTY FINANCE FUND, L.P	Hedge Fund	$312.3M	14	KPMG, LLP
THE VÄRDE MORTGAGE FUND III MASTER, L.P.	Hedge Fund	$303.1M	10	KPMG
THE VÄRDE FUND XI (MASTER), L.P.	Hedge Fund	$297.7M	126	KPMG, LLP
THE VÄRDE PRIVATE DEBT OPPORTUNITIES FUND (ONSHORE), L.P.	Hedge Fund	$284M	16	KPMG, LLP
THE VÄRDE MORTGAGE FUND II (MASTER), L.P.	Hedge Fund	$282.7M	24	KPMG, LLP
THE VARDE MORTGAGE FUND II (MASTER), L.P.	Hedge Fund	$282.7M	24	KPMG, LLP
THE VARDE MORTGAGE FUND II (MASTER), L.P.	Hedge Fund	$282.7M	24	KPMG, LLP
THE VÄRDE ASSET LENDING FUND II (OFFSHORE), L.P.	Hedge Fund	$272.2M	7	KPMG, LLP
THE VÄRDE ASIA CREDIT FUND MASTER, L.P.	Hedge Fund	$264.8M	26	KPMG, LLP
THE VARDE ASIA CREDIT FUND MASTER, L.P.	Hedge Fund	$264.8M	26	KPMG, LLP
THE VARDE ASIA CREDIT FUND MASTER, L.P.	Hedge Fund	$264.8M	26	KPMG, LLP
THE VÄRDE PRIVATE DEBT OPPORTUNITIES FUND (ONSHORE), L.P.	Hedge Fund	$256.1M	16	KPMG, LLP
THE VARDE PRIVATE DEBT OPPORTUNITIES FUND (ONSHORE), L.P.	Hedge Fund	$256.1M	16	KPMG, LLP
THE VARDE PRIVATE DEBT OPPORTUNITIES FUND (ONSHORE), L.P.	Hedge Fund	$256.1M	16	KPMG, LLP
THE VÄRDE RAYA FUND, L.P.	Hedge Fund	$252.7M	2	KPMG, LLC
THE VARDE RAYA FUND, L.P.	Hedge Fund	$252.7M	2	KPMG, LLC
THE VARDE RAYA FUND, L.P.	Hedge Fund	$252.7M	2	KPMG, LLC
THE VÄRDE MORTGAGE FUND III MASTER, L.P.	Hedge Fund	$244.3M	10	KPMG
THE VARDE MORTGAGE FUND III MASTER, L.P.	Hedge Fund	$244.3M	10	KPMG
THE VARDE MORTGAGE FUND III MASTER, L.P.	Hedge Fund	$244.3M	10	KPMG
THE SUNVARD OPPORTUNITY FUND, L.P.	Hedge Fund	$243.7M	2	KPMG, LLP
THE VÄRDE FUND XI (MASTER), L.P.	Hedge Fund	$239.5M	128	KPMG, LLP

Fund NameTHE VARDE SKYWAY MASTER FUND, L.P.

TypeHedge Fund

GAV$333.7M

Investors29

AuditorKPMG, LLP

Fund NameTHE VÄRDE SPECIALTY FINANCE FUND, L.P

TypeHedge Fund

GAV$312.3M

Investors14

AuditorKPMG, LLP

Fund NameTHE VARDE SPECIALTY FINANCE FUND, L.P

TypeHedge Fund

GAV$312.3M

Investors14

AuditorKPMG, LLP

Fund NameTHE VARDE SPECIALTY FINANCE FUND, L.P

TypeHedge Fund

GAV$312.3M

Investors14

AuditorKPMG, LLP

Fund NameTHE VÄRDE MORTGAGE FUND III MASTER, L.P.

TypeHedge Fund

GAV$303.1M

Investors10

AuditorKPMG

Fund NameTHE VÄRDE FUND XI (MASTER), L.P.

TypeHedge Fund

GAV$297.7M

Investors126

AuditorKPMG, LLP

Fund NameTHE VÄRDE PRIVATE DEBT OPPORTUNITIES FUND (ONSHORE), L.P.

TypeHedge Fund

GAV$284M

Investors16

AuditorKPMG, LLP

Fund NameTHE VÄRDE MORTGAGE FUND II (MASTER), L.P.

TypeHedge Fund

GAV$282.7M

Investors24

AuditorKPMG, LLP

Fund NameTHE VARDE MORTGAGE FUND II (MASTER), L.P.

TypeHedge Fund

GAV$282.7M

Investors24

AuditorKPMG, LLP

Fund NameTHE VARDE MORTGAGE FUND II (MASTER), L.P.

TypeHedge Fund

GAV$282.7M

Investors24

AuditorKPMG, LLP

Fund NameTHE VÄRDE ASSET LENDING FUND II (OFFSHORE), L.P.

TypeHedge Fund

GAV$272.2M

Investors7

AuditorKPMG, LLP

Fund NameTHE VÄRDE ASIA CREDIT FUND MASTER, L.P.

TypeHedge Fund

GAV$264.8M

Investors26

AuditorKPMG, LLP

Fund NameTHE VARDE ASIA CREDIT FUND MASTER, L.P.

TypeHedge Fund

GAV$264.8M

Investors26

AuditorKPMG, LLP

Fund NameTHE VARDE ASIA CREDIT FUND MASTER, L.P.

TypeHedge Fund

GAV$264.8M

Investors26

AuditorKPMG, LLP

Fund NameTHE VÄRDE PRIVATE DEBT OPPORTUNITIES FUND (ONSHORE), L.P.

TypeHedge Fund

GAV$256.1M

Investors16

AuditorKPMG, LLP

Fund NameTHE VARDE PRIVATE DEBT OPPORTUNITIES FUND (ONSHORE), L.P.

TypeHedge Fund

GAV$256.1M

Investors16

AuditorKPMG, LLP

Fund NameTHE VARDE PRIVATE DEBT OPPORTUNITIES FUND (ONSHORE), L.P.

TypeHedge Fund

GAV$256.1M

Investors16

AuditorKPMG, LLP

Fund NameTHE VÄRDE RAYA FUND, L.P.

TypeHedge Fund

GAV$252.7M

Investors2

AuditorKPMG, LLC

Fund NameTHE VARDE RAYA FUND, L.P.

TypeHedge Fund

GAV$252.7M

Investors2

AuditorKPMG, LLC

Fund NameTHE VARDE RAYA FUND, L.P.

TypeHedge Fund

GAV$252.7M

Investors2

AuditorKPMG, LLC

Fund NameTHE VÄRDE MORTGAGE FUND III MASTER, L.P.

TypeHedge Fund

GAV$244.3M

Investors10

AuditorKPMG

Fund NameTHE VARDE MORTGAGE FUND III MASTER, L.P.

TypeHedge Fund

GAV$244.3M

Investors10

AuditorKPMG

Fund NameTHE VARDE MORTGAGE FUND III MASTER, L.P.

TypeHedge Fund

GAV$244.3M

Investors10

AuditorKPMG

Fund NameTHE SUNVARD OPPORTUNITY FUND, L.P.

TypeHedge Fund

GAV$243.7M

Investors2

AuditorKPMG, LLP

Fund NameTHE VÄRDE FUND XI (MASTER), L.P.

TypeHedge Fund

GAV$239.5M

Investors128

AuditorKPMG, LLP