# VR Advisory Services Ltd.

> VR Advisory Services Ltd. is an SEC-registered investment advisory firm in New York, NY, registered since 2006, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 137158
- Filed as: VR ADVISORY SERVICES LTD.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/137158
- AdvisorCensus page: https://advisorcensus.com/firm/vr-advisory-services-ltd-new-york-ny-137158

## Quick answers

**How is VR Advisory Services Ltd. compensated?**
On its Form ADV (Item 5.E, October 2026), VR Advisory Services Ltd. reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is VR Advisory Services Ltd. located?**
VR Advisory Services Ltd.'s principal office is in New York, NY, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is VR Advisory Services Ltd. registered with the SEC or a state?**
VR Advisory Services Ltd. is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 137158.

**How much does VR Advisory Services Ltd. manage?**
VR Advisory Services Ltd. reports $9,765,461,604 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have VR Advisory Services Ltd.'s assets and staff changed since 2021?**
In the Form ADV data for VR Advisory Services Ltd.: Regulatory assets under management: $5,397,476,575 in the October 2021 data and $9,765,461,604 in the October 2026 data, up 81%. Total employees: 42 in October 2021 and 42 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does VR Advisory Services Ltd. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6); corporations or other businesses not listed above (1).

**Does VR Advisory Services Ltd. report any disciplinary disclosures?**
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/137158

**Does VR Advisory Services Ltd. state an account minimum?**
Its Form ADV Part 2A brochure dated March 31, 2026 says: "To invest in any of the VR Feeder Funds, we generally require a minimum investment of $1,000,000, although at times we may accept investments of a less er amount in our sole discretion , provided investments in VR Global Offshore Fund Ltd. and VR Argentina Recovery Offshore Fund II Ltd. remain subject to Cayman Islands minimum investment requirements."

**What changed in VR Advisory Services Ltd.'s recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $8,746,103,064 to $9,765,461,604 (+12%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)

> To invest in any of the VR Feeder Funds, we generally require a minimum investment of $1,000,000, although at times we may accept investments of a less er amount in our sole discretion , provided investments in VR Global Offshore Fund Ltd. and VR Argentina Recovery Offshore Fund II Ltd. remain subject to Cayman Islands minimum investment requirements.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $9,765,461,604
- Discretionary: $9,765,461,604
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $9,633,858,941 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 1 | $131,602,663 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2006 (20 years)
- Employees: 42 total, 13 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- London

### Websites listed on Form ADV (Item 1.I)
- vr-capital.com
- LinkedIn @VR-CAPITAL-GROUP

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $5,397,476,575 | 42 | March 31, 2021 |
| October 2022 | $5,418,705,206 | 44 | March 31, 2022 |
| October 2023 | $5,608,432,734 | 43 | March 31, 2023 |
| October 2024 | $6,363,654,108 | 43 | March 29, 2024 |
| October 2025 | $8,746,103,064 | 44 | March 31, 2025 |
| October 2026 | $9,765,461,604 | 42 | March 31, 2026 |

Regulatory assets under management: $5,397,476,575 in the October 2021 data and $9,765,461,604 in the October 2026 data, up 81%.
Total employees: 42 in October 2021 and 42 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $8,746,103,064 to $9,765,461,604 (+12%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. VR Advisory Services Ltd. (CRD 137158): Form ADV filing data as of October 2026.