{
  "crd_number": 285746,
  "slug": "alerce-investment-management-l-p-chicago-il-285746",
  "primary_business_name": "ALERCE INVESTMENT MANAGEMENT, L.P.",
  "legal_name": "ALERCE INVESTMENT MANAGEMENT, L.P.",
  "dbas": [],
  "city": "Chicago",
  "state": "IL",
  "country": "United States",
  "cbsa_code": "16980",
  "metro": {
    "cbsa_code": "16980",
    "common_name": "Chicago",
    "msa_name": "Chicago-Naperville-Elgin, IL-IN",
    "path": "/advisors/il/chicago"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2016-11-22",
  "years_registered": 9,
  "period": "2026-10-01",
  "filing_date": "2026-03-27",
  "carried_forward": false,
  "raum_total": 226936881.0,
  "raum_discretionary": 226936881.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 4,
  "advisory_employees": 2,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 3704010.0,
      "count": null,
      "fewer_than_5": true
    },
    "high_net_worth_individuals": {
      "raum": 5454317.0,
      "count": 12
    },
    "pooled_investment_vehicles": {
      "raum": 217778554.0,
      "count": 13
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_individuals",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 1,
  "states_registered": [
    "IL"
  ],
  "websites": [],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/285746",
  "disclosure_items": [
    {
      "item": "11.D(1)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?"
    }
  ],
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/alerce-investment-management-l-p-chicago-il-285746",
  "display_name": "Alerce Investment Management, L.P.",
  "summary": "Alerce Investment Management, L.P. is an SEC-registered investment advisory firm in Chicago, IL, registered since 2016, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 27, 2026.",
  "citation": "AdvisorCensus. Alerce Investment Management, L.P. (CRD 285746): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Alerce Investment Management, L.P. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Alerce Investment Management, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "How much does Alerce Investment Management, L.P. charge?",
      "a": "Its Form ADV Part 2A brochure dated March 27, 2026 states: Asset-based fee: 1% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Alerce Investment Management, L.P. located?",
      "a": "Alerce Investment Management, L.P.'s principal office is in Chicago, IL, according to its Form ADV."
    },
    {
      "q": "Is Alerce Investment Management, L.P. registered with the SEC or a state?",
      "a": "Alerce Investment Management, L.P. is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 285746."
    },
    {
      "q": "How much does Alerce Investment Management, L.P. manage?",
      "a": "Alerce Investment Management, L.P. reports $226,936,881 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary)."
    },
    {
      "q": "How have Alerce Investment Management, L.P.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Alerce Investment Management, L.P.: Regulatory assets under management: $323,147,766 in the October 2021 data and $226,936,881 in the October 2026 data, down 30%. Total employees: 5 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Alerce Investment Management, L.P. serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (13); high net worth individuals (12)."
    },
    {
      "q": "Which custodians does Alerce Investment Management, L.P. use?",
      "a": "Alerce Investment Management, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Computershare Trust Company, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Pershing LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Alerce Investment Management, L.P. report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(1) (another regulator's finding of a false statement or omission, or of dishonest, unfair, or unethical conduct). 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/285746"
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 323147766.0,
      "total_employees": 5,
      "filing_date": "2021-03-30"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 158519531.0,
      "total_employees": 5,
      "filing_date": "2022-03-08"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 185753742.0,
      "total_employees": 4,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 161918985.0,
      "total_employees": 4,
      "filing_date": "2024-03-26"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 223159778.0,
      "total_employees": 4,
      "filing_date": "2025-03-26"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 226936881.0,
      "total_employees": 4,
      "filing_date": "2026-03-27"
    }
  ],
  "recent_changes": [],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 27, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "1% to 2% a year",
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 1% to 2% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "Generally, a Fund will pay Alerce Management Group, quarterly in advance, a management fee (the “Management Fee”) between 1.0% and 2.0% of aggregate investor capital commitments to the relevant Fund (“Commitments”)"
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        1.0,
        2.0
      ],
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Generally, a Fund will pay Alerce Management Group, quarterly in advance, a management fee (the “Management Fee”) between 1.0% and 2.0% of aggregate investor capital commitments to the relevant Fund (“Commitments”)"
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Computershare Trust Company, N.A.",
      "name_as_filed": "COMPUTERSHARE TRUST COMPANY, N.A.",
      "affiliated": false
    },
    {
      "name": "Merrill Lynch, Pierce, Fenner & Smith Incorporated",
      "name_as_filed": "MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED",
      "affiliated": false
    },
    {
      "name": "Pershing LLC",
      "name_as_filed": "PERSHING LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/alerce-investment-management-l-p-chicago-il-285746.md",
  "clients": [
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 12,
      "fewer_than_5": false,
      "raum": 5454317.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 13,
      "fewer_than_5": false,
      "raum": 217778554.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": null,
      "fewer_than_5": true,
      "raum": 3704010.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/285746",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}