Varagon Capital Partners, L.P. (New York)

Name: Varagon Capital Partners, L.P.
Address: 299 Park Avenue, New York, NY, 10171
Telephone: 212-235-2600

Varagon Capital Partners, L.P. is a large advisory firm based in New York. It manages $9.07 billion of regulatory assets for 9 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Illinois, Massachusetts, New York, and Texas.

Varagon Capital Partners provides portfolio management for pooled investment vehicles and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Varagon Capital Partners: assets under management

The assets under management (AUM) of Varagon Capital Partners, L.P. is $9.07 billion. The firm's AUM has grown by 1186% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.59 billion in discretionary accounts and $6.48 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $517.55 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.62 billion.

Varagon Capital Partners has custody of $189.84 million in cash and securities for 8 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 98% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 2% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Varagon Capital Partners, L.P. for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Varagon Capital Partners serves?

The firm provides services to insurance companies, pooled investment vehicles, and corporations or other businesses. The largest group of clients of Varagon Capital Partners is pooled investment vehicles with 2 clients and $6.56 billion of assets under management. Among the 10 most similar advisory firms, Varagon Capital Partners has the 5th lowest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $9.07 billion for 9 clients. None of the firm’s clients are foreign persons or businesses.

Varagon Capital Partners also advises several private funds. Namely, one private equity fund. The minimum investment commitment required of non-related persons is $10,000,000 for each fund.

Careers at Varagon Capital Partners, L.P.

The company employs 63 people that are either part- or full-time employees. 62 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Douglas Macrae Kaden joined the executive team most recently as the Managing Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Varagon Capital Management Mgp	General partner	1 Oct 2013	Other	46-4481527
Brett Harris Shapiro	Partner / head of business development	1 Jan 2014	Other	4995889
Walter James Owens	Chief executive officer	1 Jan 2014	Other	2700341
Llc Magna Carta I	Class a limited partner	1 Jun 2014	Other	42-1778338
American General Life Insurance Company	Class b limited partner	1 Jun 2014	50% - 75%	25-0598210
Pa National Union Fire Insurance Company Of Pittsburgh	Class b limited partner	1 Jun 2014	25% - 50%	25-0687550
Robert Jacob Bourgeois	Managing director / chief compliance officer	1 Oct 2014	Other	6613074

Indirect Owners

The SEC currently registers 25 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. American International Group	Shareholder/common shares	1 Jan 1999	75% - 100%	13-2592361
Agc Life Insurance Company	Shareholder/common shares	1 Aug 2001	75% - 100%	76-0030921
Inc. Aig Life Holdings	Shareholder/common shares	1 Aug 2001	75% - 100%	74-0483432
Inc. Safg Retirement Services	Shareholder/common shares	1 Aug 2001	75% - 100%	95-4715639
Inc Aig Property Casualty U.S.	Shareholder/common shares	1 Dec 2006	75% - 100%	13-3386798
Inc. American International Group	Shareholder/common shares	1 Jul 2009	75% - 100%	13-2592361
Aiuh Llc	Shareholder/common shares	1 Oct 2009	75% - 100%	27-2013532
Aig Property Casualty Inc.	Shareholder/common shares	1 Apr 2010	75% - 100%	27-1992729
Inc. Aig Property Casualty	Shareholder/common shares	1 Apr 2010	75% - 100%	27-1992729
Denis James Nayden	Managing member	1 Feb 2014	Other	2043240
Denis James Nayden	Director	1 May 2014	Other	2043240
Steven Bennett Gruber	Director	1 May 2014	Other	2114878
Lorri Jean White	Director	1 May 2014	Other	2649872
Morris Wolf Offit	Director	1 May 2014	Other	351301
Douglas Macrae Kaden	Director	1 May 2014	Other	2786390
Geoffrey Neal Cornell	Director	1 May 2014	Other	2817981
Michael Anthony Gaudino	Director	1 May 2014	Other	4485101
Walter James Owens	Director and chief executive officer	1 May 2014	Other	2700341
Darell Edward Etlinger	Director	1 May 2014	Other	2697003
John Richard Monsky	Director	1 May 2014	Other	4770658
Brian Todd Schreiber	Director	1 May 2014	Other	1693464
John R. Monsky	Director	1 May 2014	Other	4770658
Douglas Macrae Kaden	Managing member	1 Dec 2016	Other	2786390
Steven Bennett Gruber	Managing member	1 Dec 2016	Other	2114878
John Richard Monsky	Managing member	1 Dec 2016	Other	4770658

Based in New York

The principal office where Varagon Capital Partners, L.P. performs its advisory services is located at 299 Park Avenue, New York, NY 10171, which is also the mailing address of the firm. An additional office of the firm is in Chicago, IL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-235-2600. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at varagon.com and its LinkedIn profile.