Varagon Capital Partners, L.P.

Registered investment adviser · New York, NY · CRD #281851

Form ADV data as of 2026-09-01

Regulatory assets

$13.99 billion

Total accounts

Employees

Disclosure events

Firm details

Website: http://www.man.com
Telephone: 212-303-9400
SEC file number: 801-107473
Most recent Form ADV filing: 2026-07-23
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 1 disclosure question answered Yes, covering 1 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

An authorization to act as an attorney, accountant, or federal contractor was revoked or suspended

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$7.74 billion
Non-discretionary regulatory assets under management	$6.26 billion
Total regulatory assets under management	$13.99 billion
Discretionary accounts	21
Non-discretionary accounts	5
Total accounts	26
Regulatory assets under management attributable to non-U.S. persons	$523.5 million

People

Total employees (excluding clerical)	78
Employees performing investment advisory functions (including research)	45
Employees who are registered representatives of a broker-dealer	0
Employees registered as investment adviser representatives with a state	0
Employees registered as IARs for another investment adviser	0
Employees who are licensed insurance agents	0
Firms or persons who solicit advisory clients on the firm's behalf	2

Custody

Has custody of client cash or bank accounts	Yes
Has custody of client securities	Yes
Client funds and securities held in the firm's custody	$281.8 million
Clients for whom the firm has custody	20
A related person has custody of client cash or bank accounts	No
A related person has custody of client securities	No
The firm acts as a qualified custodian	No
A related person acts as a qualified custodian	No
Number of persons acting as qualified custodians for the firm's clients	4

How the firm is compensated

A percentage of assets under managementPerformance-based feesOther

Advisory services offered

Portfolio management for pooled investment vehiclesPortfolio management for businesses or institutional clients

Affiliated related persons

Broker-dealer, municipal securities dealer, or government securities broker or dealerOther investment adviser (including financial planners)Commodity pool operator or commodity trading advisorSponsor, general partner, or managing member of pooled investment vehicles

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Buys securities from or sells securities to advisory clients (principal transactions)
Buys or sells for itself securities it also recommends to clients
Recommends securities for which it serves as underwriter or general partner
Recommends securities in which it has another sales interest
Recommends brokers or dealers to clients
Compensates a non-employee for client referrals
Provides employee compensation specifically for obtaining clients

Client types

Type of client	Clients	Assets
Pooled investment vehicles (other than investment companies and BDCs)	14	$8.56 billion
Insurance companies	12	$5.43 billion