{
  "crd_number": 161522,
  "slug": "ampersand-capital-partners-boston-ma-161522",
  "primary_business_name": "AMPERSAND CAPITAL PARTNERS",
  "legal_name": "AMPERSAND MANAGEMENT LLC",
  "dbas": [],
  "city": "Boston",
  "state": "MA",
  "country": "United States",
  "cbsa_code": "14460",
  "metro": {
    "cbsa_code": "14460",
    "common_name": "Boston",
    "msa_name": "Boston-Cambridge-Newton, MA-NH",
    "path": "/advisors/ma/boston"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2012-02-23",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-03-30",
  "carried_forward": false,
  "raum_total": 3093543241.0,
  "raum_discretionary": 3093543241.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 38,
  "advisory_employees": 33,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 3093543241.0,
      "count": 4
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "MA"
  ],
  "websites": [
    "https://ampersandcapital.com",
    "https://linkedin.com/company/ampersand-capital-partners"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/161522",
  "city_as_filed": "BOSTON",
  "url": "https://advisorcensus.com/firm/ampersand-capital-partners-boston-ma-161522",
  "display_name": "Ampersand Capital Partners",
  "summary": "Ampersand Capital Partners is an SEC-registered investment advisory firm in Boston, MA, registered since 2012, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.",
  "citation": "AdvisorCensus. Ampersand Capital Partners (CRD 161522): 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 pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Ampersand Capital Partners compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Ampersand Capital Partners reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is Ampersand Capital Partners located?",
      "a": "Ampersand Capital Partners' principal office is in Boston, MA, according to its Form ADV; the April 2026 filing also lists 2 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Ampersand Capital Partners registered with the SEC or a state?",
      "a": "Ampersand Capital Partners is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161522."
    },
    {
      "q": "How much does Ampersand Capital Partners manage?",
      "a": "Ampersand Capital Partners reports $3,093,543,241 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)."
    },
    {
      "q": "How have Ampersand Capital Partners' assets and staff changed since 2021?",
      "a": "In the Form ADV data for Ampersand Capital Partners: Regulatory assets under management: $2,174,368,131 in the October 2021 data and $3,093,543,241 in the October 2026 data, up 42%. Total employees: 25 in October 2021 and 38 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Ampersand Capital Partners serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (4)."
    },
    {
      "q": "Does Ampersand Capital Partners report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/161522"
    },
    {
      "q": "Does Ampersand Capital Partners state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 says: \"Each Fund generally requires a minimum investment of $5 million, which the general partner may waive in its sole discretion.\""
    },
    {
      "q": "What changed in Ampersand Capital Partners' recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 30 to 33. Added an office in London."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 2174368131.0,
      "total_employees": 25,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 2704891996.0,
      "total_employees": 27,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 2800813403.0,
      "total_employees": 31,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 2785535662.0,
      "total_employees": 32,
      "filing_date": "2024-08-19"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 2841608306.0,
      "total_employees": 34,
      "filing_date": "2025-03-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 3093543241.0,
      "total_employees": 38,
      "filing_date": "2026-03-30"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 30 to 33.",
        "Added an office in London."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 30, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$5,000,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $5,000,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "Each Fund generally requires a minimum investment of $5 million, which the general partner may waive in its sole discretion."
        ]
      }
    ],
    "quotes": [
      "Each Fund generally requires a minimum investment of $5 million, which the general partner may waive in its sole discretion."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/ampersand-capital-partners-boston-ma-161522.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 4,
      "fewer_than_5": false,
      "raum": 3093543241.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "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/161522",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}