DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

SEC-registered adviser

Varagon Capital Partners, L.P.

Asset manager (funds and pooled vehicles)New York, New YorkCRD 281851SEC 801-107473websiteIAPD
Latest filing Jul 23, 2026
First filing on the tape Mar 15, 2016 · 36 filings
SEC status approved since Apr 8, 2016
RAUM
$14B
reported, Item 5.F
Discretionary
55%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
78
45 advisory (5.B.1)
Offices
4
beyond the principal office
Private funds
12
reported on Schedule D
History
36 filings and snapshots on the tape
RAUM$14B as of Jul 23, 2026
Mar 29, 2017$4.3B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Jul 23, 2026
Mar 29, 20170 then
Employees (5.A)78 as of Jul 23, 2026
Mar 29, 201739 then
Private funds12 as of Jul 23, 2026
Mar 29, 20171 then
RAUM +3.2% over the last fiscal year-3.4% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Jul 23, 2026; every figure names its basis
RAUM per advisor
unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$538MderivedRAUM over accounts (5.F.2.f)
Discretionary
55%derivedof RAUM
Institutional
39%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived5 offices incl. principal (1.F.5)
RAUM growth, one year
+3.2%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, performance-based, otherreportedItem 5.E
Advisory activities
portfolio management for businesses and institutions, portfolio management for pooled vehiclesreportedItem 5.G
Custody
$282M, 20 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$8.6B61%
  • Insurance companies$5.4B39%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
26reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$282M for 20 clientsreported
Compensation
% of AUM, performancereported
Class basis
private_client_share=0.0 fund_share=0.61 institutional_share=0.39 related_bd=true related_bank=true bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Private funds
      11 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      Varagon Structured Notes Issuer I, LLCSecuritized Asset Fund$508M2Mar 31, 2022
      Viva Fund I, L.P.Other Private Fund$439M2Mar 30, 2020
      Varagon Capital Direct Lending Fund, L.P.Other Private Fund$213M8Mar 31, 2022
      Man US Direct Lending Evergreen Feeder (US), L.P. - Series L-1Other Private Fund$202M2Dec 11, 2024
      Varagon Fund I, L.P.no longer reportedPrivate Equity Fund$198M43Sep 27, 2016
      Vcbd Feeder I, LLCOther Private Fund$126M1Apr 29, 2024
      Vcbd Feeder II, LLCOther Private Fund$40.2M1Apr 29, 2024
      Varagon Capital Direct Lending International, ScspOther Private Fund$31.7M2Mar 31, 2022
      Vcc Professionals Fund, L.P.Other Private Fund$2.8M0Apr 29, 2024
      Varagon Professionals Fund, L.P.Other Private Fund$1.3M0Apr 29, 2024
      Varagon Professionals Fund II, L.P.Other Private Fund$700,4411Apr 29, 2024
      Owners and control persons
      Schedule A and B, latest filing
      • Jacob Robert Bourgeois · Treasurercontrol
        since 12/2023 · owns less than 5%
      • Nmn Nadine Le Gall · Chief Compliance Officercontrol
        since 03/2024 · owns less than 5%
      • James Walter Owens · Presidentcontrol
        since 12/2023 · owns less than 5%
      • James Walter Owens · Shareholdercontrol
        since 09/2023 · owns 25% to 50% of Man Times Square Holdings LLC
      • Winter Douglas Hamilton · Vice President
        since 12/2023 · owns less than 5%
      • Ellen Nancy Lynch · Secretary
        since 12/2024 · owns less than 5%
      Entity owners
      • Man Times Square Holdings LLC · Sole Limited Partner
        direct · owns 75% or more
      • Man Times Square Gp LLC · General Partner
        direct · owns less than 5%
      • Man Group Plc · Shareholder
        indirect · owns 75% or more of Man Group Treasury Ltd.
      • Man Group Treasury Ltd. · Shareholder
        indirect · owns 75% or more of Man Worldwide Operations Management Ltd.
      • Man Investments Holdings Inc. · Shareholder
        indirect · owns 50% to 75% of Man Times Square Holdings LLC
      • Man Investments USA Holdings Inc. · Shareholder
        indirect · owns 75% or more of Man Investments Holdings Inc.
      • Man Worldwide Operations Management Ltd. · Shareholder
        indirect · owns 75% or more of Man Investments USA Holdings Inc.
      Related persons
      Schedule D 7.A
      Advisers that list Varagon Capital Partners, L.P. as a related person
      Offices
      Schedule D 1.F, the 25 largest
      • Chicago, IL2 employees
      • Wellesley, MA2 employees
      • , 1 employees
      ADV anomalies
      1 against comparable advisers; where to look, not conclusions
      • high institutional concentrationStatic outlier · filing Jul 23, 2026
        institutional share of RAUM of 39% against a peer median of 0% (684 comparable advisers, 100.0th percentile, 13.1 robust deviations)
        peers: asset managers, $5B to $20B (684) · 100% percentile
      What changed
      consecutive filings, newest first
      • Private funds · 11 to 12
        Apr 28, 2026 to Jun 11, 2026
      • Accounts · 18 to 26
        Feb 5, 2026 to Mar 31, 2026
      • Pooled vehicle clients · 6 to 14
        Feb 5, 2026 to Mar 31, 2026
      • Assets in custody · $478M to $282M
        Feb 5, 2026 to Mar 31, 2026
      • Employees · 76 to 78
        Feb 5, 2026 to Mar 31, 2026
      • Private funds · 10 to 11
        Feb 5, 2026 to Mar 31, 2026
      • Discretionary RAUM · $6.8B to $7.7B
        Feb 5, 2026 to Mar 31, 2026
      • Non-discretionary RAUM · $6.8B to $6.3B
        Feb 5, 2026 to Mar 31, 2026
      • Pooled vehicle RAUM · $7.9B to $8.6B
        Feb 5, 2026 to Mar 31, 2026
      • RAUM · $14B to $14B
        Feb 5, 2026 to Mar 31, 2026
      • Advisory employees · 42 to 45
        Dec 19, 2024 to Apr 21, 2025
      • Assets in custody · $249M to $478M
        Dec 19, 2024 to Apr 21, 2025
      • Employees · 70 to 76
        Dec 19, 2024 to Apr 21, 2025
      • Financial planning clients · unset to
        Dec 19, 2024 to Apr 21, 2025
      • Other offices · 3 to 4
        Dec 19, 2024 to Apr 21, 2025
      • Discretionary RAUM · $7.3B to $6.8B
        Dec 19, 2024 to Apr 21, 2025
      • Non-discretionary RAUM · $6.5B to $6.8B
        Dec 19, 2024 to Apr 21, 2025
      • Pooled vehicle RAUM · $7.6B to $7.9B
        Dec 19, 2024 to Apr 21, 2025
      • RAUM · $14B to $14B
        Dec 19, 2024 to Apr 21, 2025
      • Private funds · 9 to 10
        Nov 5, 2024 to Dec 11, 2024
      • Private funds · 4 to 9
        Mar 29, 2024 to Apr 29, 2024
      • Accounts · 36 to 18
        Dec 22, 2023 to Mar 29, 2024
      • Advisory employees · 46 to 42
        Dec 22, 2023 to Mar 29, 2024
      • BD registered reps · 4 to 0
        Dec 22, 2023 to Mar 29, 2024
      • Assets in custody · $242M to $249M
        Dec 22, 2023 to Mar 29, 2024
      • Employees · 81 to 70
        Dec 22, 2023 to Mar 29, 2024
      • Discretionary RAUM · $7.6B to $7.3B
        Dec 22, 2023 to Mar 29, 2024
      • Non-discretionary RAUM · $7.9B to $6.5B
        Dec 22, 2023 to Mar 29, 2024
      • Pooled vehicle RAUM · $7.7B to $7.6B
        Dec 22, 2023 to Mar 29, 2024
      • RAUM · $16B to $14B
        Dec 22, 2023 to Mar 29, 2024
      • Related bank · false to true
        Mar 31, 2023 to Sep 15, 2023
      • Accounts · 31 to 36
        Dec 6, 2022 to Mar 31, 2023
      • Advisory employees · 45 to 46
        Dec 6, 2022 to Mar 31, 2023
      • Assets in custody · $445M to $242M
        Dec 6, 2022 to Mar 31, 2023
      • Employees · 80 to 81
        Dec 6, 2022 to Mar 31, 2023
      • Private funds · 5 to 4
        Dec 6, 2022 to Mar 31, 2023
      • Discretionary RAUM · $7.3B to $7.6B
        Dec 6, 2022 to Mar 31, 2023
      • Non-discretionary RAUM · $8.4B to $7.9B
        Dec 6, 2022 to Mar 31, 2023
      • Pooled vehicle RAUM · $7.3B to $7.7B
        Dec 6, 2022 to Mar 31, 2023
      • RAUM · $16B to $16B
        Dec 6, 2022 to Mar 31, 2023
      Signals
      28 dated events
      • Rudolph George Talarico (Chief Compliance Officer) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2023-12-22, absent 2024-03-29)
        Mar 29, 2024 · Control person left · inference
      • Nmn Nadine Le Gall (Chief Compliance Officer) appeared on Schedule A of Varagon Capital Partners, L.P.
        Mar 29, 2024 · Control person joined · fact
      • Afsar Farman-Farmaian (General Counsel) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2023-12-06, absent 2023-12-22)
        Dec 22, 2023 · Control person left · inference
      • Jean Lorri White (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2023-03-31, absent 2023-09-15)
        Sep 15, 2023 · Control person left · inference
      • Wolf Morris Offit (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2023-03-31, absent 2023-09-15)
        Sep 15, 2023 · Control person left · inference
      • Anthony Michael Gaudino (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2023-03-31, absent 2023-09-15)
        Sep 15, 2023 · Control person left · inference
      • Mark Eric Kirsch (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2023-03-31, absent 2023-09-15)
        Sep 15, 2023 · Control person left · inference
      • Eugene Bradley Dyslin (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2023-03-31, absent 2023-09-15)
        Sep 15, 2023 · Control person left · inference
      • F Charles Riceman (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2023-03-31, absent 2023-09-15)
        Sep 15, 2023 · Control person left · inference
      • Taylor Douglas Healy (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2023-03-31, absent 2023-09-15)
        Sep 15, 2023 · Control person left · inference
      • Neal Geoffrey Cornell (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2022-12-06, absent 2023-03-31)
        Mar 31, 2023 · Control person left · inference
      • Rudolph George Talarico (Chief Compliance Officer) appeared on Schedule A of Varagon Capital Partners, L.P.
        Dec 6, 2022 · Control person joined · fact
      • Viravyne Chhim (Chief Compliance Officer) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2022-05-05, absent 2022-12-06)
        Dec 6, 2022 · Control person left · inference
      • Viravyne Chhim (Chief Compliance Officer) appeared on Schedule A of Varagon Capital Partners, L.P.
        Mar 31, 2022 · Control person joined · fact
      • Afsar Farman-Farmaian (General Counsel) appeared on Schedule A of Varagon Capital Partners, L.P.
        Mar 31, 2022 · Control person joined · fact
      • Varagon Capital Partners, L.P. reported RAUM $14.6B, up 35% from $10.8B (2020-03-30 to 2021-03-30)
        Mar 30, 2021 · RAUM change · derived
      • Mark Eric Kirsch (Director) appeared on Schedule A of Varagon Capital Partners, L.P.
        Mar 6, 2020 · Control person joined · fact
      • Eugene Bradley Dyslin (Director) appeared on Schedule A of Varagon Capital Partners, L.P.
        Mar 6, 2020 · Control person joined · fact
      • F Charles Riceman (Director) appeared on Schedule A of Varagon Capital Partners, L.P.
        Mar 6, 2020 · Control person joined · fact
      • Taylor Douglas Healy (Director) appeared on Schedule A of Varagon Capital Partners, L.P.
        Mar 6, 2020 · Control person joined · fact
      • Bennett Steven Gruber (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2019-05-31, absent 2020-03-06)
        Mar 6, 2020 · Control person left · inference
      • Harris Brett Shapiro (Partner / Head Of Business Development) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2019-05-31, absent 2020-03-06)
        Mar 6, 2020 · Control person left · inference
      • James Denis Nayden (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2019-05-31, absent 2020-03-06)
        Mar 6, 2020 · Control person left · inference
      • Macrae Douglas Kaden (Director (Observer)) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2019-05-31, absent 2020-03-06)
        Mar 6, 2020 · Control person left · inference
      • Edward Darell Etlinger (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2019-05-31, absent 2020-03-06)
        Mar 6, 2020 · Control person left · inference
      • Richard John Monsky (Director) no longer on Schedule A of Varagon Capital Partners, L.P. (listed 2019-05-31, absent 2020-03-06)
        Mar 6, 2020 · Control person left · inference
      • Varagon Capital Partners, L.P. reported RAUM $9.1B, up 84% from $4.9B (2018-05-14 to 2019-03-29)
        Mar 29, 2019 · RAUM change · derived
      • Varagon Capital Partners, L.P. filed its initial SEC registration (Form ADV)
        Mar 15, 2016 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Website
      man.comreportedpublic record, Form ADV, Sep 17, 2026
      Principal office phone
      212-303-9400reportedpublic record, Form ADV, Jul 23, 2026
      Provenance
      Form ADV
      SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
      Advisors
      IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
      Class
      Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
      RAUM per advisor
      n/aderivedfirm RAUM over the IAPD count; not a book size
      Loaded
      Sep 14, 2026