{ "crd_number": 159183, "slug": "varadero-capital-l-p-new-york-ny-159183", "primary_business_name": "VARADERO CAPITAL, L.P.", "legal_name": "VARADERO CAPITAL, L.P.", "dbas": [], "city": "New York", "state": "NY", "country": "United States", "cbsa_code": "35620", "metro": { "cbsa_code": "35620", "common_name": "New York", "msa_name": "New York-Newark-Jersey City, NY-NJ", "path": "/advisors/ny/new-york" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2012-03-29", "years_registered": 14, "period": "2026-10-01", "filing_date": "2026-03-30", "carried_forward": false, "raum_total": 2292180712.0, "raum_discretionary": 2292180712.0, "raum_non_discretionary": 0.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 27, "advisory_employees": 11, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "insurance_companies": { "raum": 551521689.0, "count": 6 }, "pooled_investment_vehicles": { "raum": 1706942126.0, "count": 9 }, "corporations_other_businesses": { "raum": 33716897.0, "count": 2, "fewer_than_5": true } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "WY" ], "websites": [ "https://varaderocapital.com" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/159183", "city_as_filed": "NEW YORK", "url": "https://advisorcensus.com/firm/varadero-capital-l-p-new-york-ny-159183", "display_name": "Varadero Capital, L.P.", "summary": "Varadero Capital, L.P. is an SEC-registered investment advisory firm in New York, NY, registered since 2012, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.", "citation": "AdvisorCensus. Varadero Capital, L.P. (CRD 159183): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Performance-based fees" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients" ], "quick_answers": [ { "q": "How is Varadero Capital, L.P. compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Varadero Capital, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Varadero Capital, L.P. located?", "a": "Varadero Capital, L.P.'s principal office is in New York, NY, according to its Form ADV." }, { "q": "Is Varadero Capital, L.P. registered with the SEC or a state?", "a": "Varadero Capital, L.P. is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 159183." }, { "q": "How much does Varadero Capital, L.P. manage?", "a": "Varadero Capital, L.P. reports $2,292,180,712 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)." }, { "q": "How have Varadero Capital, L.P.'s assets and staff changed since 2021?", "a": "In the Form ADV data for Varadero Capital, L.P.: Regulatory assets under management: $1,895,367,734 in the October 2021 data and $2,292,180,712 in the October 2026 data, up 21%. Total employees: 24 in October 2021 and 27 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Varadero Capital, L.P. serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (9); insurance companies (6); corporations or other businesses not listed above (2)." }, { "q": "Which custodians does Varadero Capital, L.P. use?", "a": "Varadero Capital, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of New York Mellon, State Street Global Services and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets." }, { "q": "Does Varadero Capital, L.P. report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/159183" }, { "q": "What changed in Varadero Capital, L.P.'s recent Form ADV filings?", "a": "In the April 2026 filing data: Regulatory assets under management went from $2,565,478,697 to $2,292,180,712 (-11%). Employees performing advisory functions went from 13 to 11." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 1895367734.0, "total_employees": 24, "filing_date": "2021-03-31" }, { "period": "2022-10-01", "regulatory_assets_under_management": 2018782285.0, "total_employees": 28, "filing_date": "2022-09-09" }, { "period": "2023-10-01", "regulatory_assets_under_management": 2995950013.0, "total_employees": 25, "filing_date": "2023-03-31" }, { "period": "2024-10-01", "regulatory_assets_under_management": 2864456311.0, "total_employees": 25, "filing_date": "2024-03-28" }, { "period": "2025-10-01", "regulatory_assets_under_management": 2565478697.0, "total_employees": 25, "filing_date": "2025-03-28" }, { "period": "2026-10-01", "regulatory_assets_under_management": 2292180712.0, "total_employees": 27, "filing_date": "2026-03-30" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $2,565,478,697 to $2,292,180,712 (-11%).", "Employees performing advisory functions went from 13 to 11." ] }, { "period": "2026-02-01", "period_label": "February 2026", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [ { "name": "Bank of New York Mellon", "name_as_filed": "BANK OF NEW YORK MELLON", "affiliated": false }, { "name": "State Street Global Services", "name_as_filed": "STATE STREET GLOBAL SERVICES", "affiliated": false }, { "name": "The Northern Trust Company", "name_as_filed": "THE NORTHERN TRUST COMPANY", "affiliated": false } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/varadero-capital-l-p-new-york-ny-159183.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 9, "fewer_than_5": false, "raum": 1706942126.0 }, { "type": "insurance_companies", "label": "Insurance companies", "count": 6, "fewer_than_5": false, "raum": 551521689.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 2, "fewer_than_5": true, "raum": 33716897.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/159183", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }