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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950142-11-000297.txt : 20110211
<SEC-HEADER>0000950142-11-000297.hdr.sgml : 20110211
<ACCEPTANCE-DATETIME>20110211111121
ACCESSION NUMBER:		0000950142-11-000297
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20110211
DATE AS OF CHANGE:		20110211
EFFECTIVENESS DATE:		20110211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Varde Fund X (C), L.P.
		CENTRAL INDEX KEY:			0001483570
		IRS NUMBER:				271014972
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-138706
		FILM NUMBER:		11595841

	BUSINESS ADDRESS:	
		STREET 1:		8500 NORMANDALE LAKE BLVD., SUITE 1500
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55437
		BUSINESS PHONE:		952-893-1554

	MAIL ADDRESS:	
		STREET 1:		8500 NORMANDALE LAKE BLVD., SUITE 1500
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55437
</SEC-HEADER>
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<TYPE>D/A
<SEQUENCE>1
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        <cik>0001483570</cik>
        <entityName>Varde Fund X (C), L.P.</entityName>
        <issuerAddress>
            <street1>8500 NORMANDALE LAKE BLVD., SUITE 1500</street1>
            <city>MINNEAPOLIS</city>
            <stateOrCountry>MN</stateOrCountry>
            <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
            <zipCode>55437</zipCode>
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        <issuerPhoneNumber>952-893-1554</issuerPhoneNumber>
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        <entityType>Limited Partnership</entityType>
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            <relatedPersonName>
                <firstName>George</firstName>
                <middleName>G.</middleName>
                <lastName>Hicks</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Principal of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Marcia</firstName>
                <middleName>L.</middleName>
                <lastName>Page</lastName>
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                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
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                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Principal of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
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            <relatedPersonName>
                <firstName>Jeremy</firstName>
                <middleName>D.</middleName>
                <lastName>Hedberg</lastName>
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                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
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                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
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            <relationshipClarification>Principal of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
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                <firstName>Jason</firstName>
                <middleName>R.</middleName>
                <lastName>Spaeth</lastName>
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                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
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                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Principal of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Rick</firstName>
                <middleName>J.</middleName>
                <lastName>Noel</lastName>
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            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Principal of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <middleName>P.</middleName>
                <lastName>Lenk</lastName>
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            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
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            <relatedPersonRelationshipList>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Principal of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <middleName>N.</middleName>
                <lastName>Giles</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steffanie</firstName>
                <middleName>L.</middleName>
                <lastName>Sanders</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kirsten</firstName>
                <lastName>Voss</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrea</firstName>
                <lastName>Schilling</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jeffery</firstName>
                <middleName>A.</middleName>
                <lastName>Thuringer</lastName>
            </relatedPersonName>
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                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>J.</middleName>
                <lastName>Koschak</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
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            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Nathan</firstName>
                <middleName>L.</middleName>
                <lastName>Geske</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <lastName>Marple</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
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            <relatedPersonRelationshipList>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <lastName>Schmidt</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
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            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brad</firstName>
                <lastName>Bauer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8500 Normandale Lake Boulevard</street1>
                <street2>Suite 1500</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                <zipCode>55437</zipCode>
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            <relatedPersonRelationshipList>
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            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President of Varde Partners, Inc. (The Ultimate General Partner of the General Partner of the Issuer).</relationshipClarification>
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    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
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                <previousAccessionNumber>0000950142-10-000208</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2010-01-29</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>10000000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Lazard Freres &amp; Co. LLC</recipientName>
                <recipientCRDNumber>2528</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>30 Rockefeller Plaza</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10020</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>2500000000</totalOfferingAmount>
            <totalAmountSold>822000000</totalAmountSold>
            <totalRemaining>1678000000</totalRemaining>
            <clarificationOfResponse>Represents the total aggregate offering price of securities offered by the Issuer and its parallel investment vehicles. Represents the total amount sold by the Issuer.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>43</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>4612500</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Customary management fees will be paid to Varde Management, L.P., an entity controlled by certain individuals listed in Item 3 above, as described in the Issuer's Confidential Private Placement Memorandum.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Varde Fund X (C), L.P.</issuerName>
                <signatureName>/s/ David Marple</signatureName>
                <nameOfSigner>David Marple</nameOfSigner>
                <signatureTitle>Authorized Signatory</signatureTitle>
                <signatureDate>2011-02-10</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
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