# Adage Capital Management, L.P.

> Adage Capital Management, L.P. is an SEC-registered investment advisory firm in Boston, MA, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 25, 2026.

- CRD: 160679
- Filed as: ADAGE CAPITAL MANAGEMENT, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/160679
- AdvisorCensus page: https://advisorcensus.com/firm/adage-capital-management-l-p-boston-ma-160679

## Quick answers

**How is Adage Capital Management, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Adage Capital Management, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Adage Capital Management, L.P. located?**
Adage Capital Management, L.P.'s principal office is in Boston, MA, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Adage Capital Management, L.P. registered with the SEC or a state?**
Adage Capital Management, L.P. is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 160679.

**How much does Adage Capital Management, L.P. manage?**
Adage Capital Management, L.P. reports $70,436,360,710 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary).

**How have Adage Capital Management, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Adage Capital Management, L.P.: Regulatory assets under management: $49,687,055,566 in the October 2021 data and $70,436,360,710 in the October 2026 data, up 42%. Total employees: 55 in October 2021 and 62 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Adage Capital Management, L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (1).

**Does Adage Capital Management, L.P. report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/160679

**Does Adage Capital Management, L.P. state an account minimum?**
Its Form ADV Part 2A brochure dated March 25, 2026 says: "Generally, the minimum dollar amount required to invest in ACP is $10,000,000; although ACM, in its sole discretion, can reduce this minimum amount on a case-by-case basis."

**What changed in Adage Capital Management, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 39 to 42. Regulatory assets under management went from $59,994,025,140 to $70,436,360,710 (+17%).

## 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 25, 2026)

- Account minimum: $10,000,000 (the brochure says it may be waived or negotiated)

> Generally, the minimum dollar amount required to invest in ACP is $10,000,000; although ACM, in its sole discretion, can reduce this minimum amount on a case-by-case basis.

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

### Regulatory assets under management (Item 5.F)
- Total: $70,436,360,710
- Discretionary: $70,436,360,710
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $70,436,360,710 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2012 (14 years)
- Employees: 62 total, 42 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA, NJ
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/160679

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

### Websites listed on Form ADV (Item 1.I)
- adagecapital.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $49,687,055,566 | 55 | March 22, 2021 |
| October 2022 | $58,165,986,699 | 54 | March 25, 2022 |
| October 2023 | $44,627,698,516 | 53 | March 28, 2023 |
| October 2024 | $51,963,689,430 | 54 | September 25, 2024 |
| October 2025 | $59,994,025,140 | 58 | March 25, 2025 |
| October 2026 | $70,436,360,710 | 62 | March 25, 2026 |

Regulatory assets under management: $49,687,055,566 in the October 2021 data and $70,436,360,710 in the October 2026 data, up 42%.
Total employees: 55 in October 2021 and 62 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 39 to 42.
- Regulatory assets under management went from $59,994,025,140 to $70,436,360,710 (+17%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Adage Capital Management, L.P. (CRD 160679): Form ADV filing data as of October 2026.