# APC Asset Development II, LP

> APC Asset Development II, LP is an SEC-registered investment advisory firm in Newport Beach, CA, registered since 2023, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 328587
- Filed as: APC ASSET DEVELOPMENT II, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Newport Beach, CA
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/328587
- AdvisorCensus page: https://advisorcensus.com/firm/apc-asset-development-ii-lp-newport-beach-ca-328587

## Quick answers

**How is APC Asset Development II, LP compensated?**
On its Form ADV (Item 5.E, October 2026), APC Asset Development II, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is APC Asset Development II, LP located?**
APC Asset Development II, LP's principal office is in Newport Beach, CA, according to its Form ADV.

**Is APC Asset Development II, LP registered with the SEC or a state?**
APC Asset Development II, LP is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 328587.

**How much does APC Asset Development II, LP manage?**
APC Asset Development II, LP reports $2,060,624,142 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have APC Asset Development II, LP's assets and staff changed since 2024?**
In the Form ADV data for APC Asset Development II, LP: Regulatory assets under management: $562,716,165 in the October 2024 data and $2,060,624,142 in the October 2026 data, up 266%. Total employees: 38 in October 2024 and 46 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does APC Asset Development II, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6).

**Does APC Asset Development II, LP report any disciplinary disclosures?**
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/328587

**What changed in APC Asset Development II, LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 21 to 22. Regulatory assets under management went from $1,393,864,710 to $2,060,624,142 (+48%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $2,060,624,142
- Discretionary: $2,060,624,142
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $2,060,624,142 |

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

### Firm details
- Registered since: 2023 (2 years)
- Employees: 46 total, 22 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | $562,716,165 | 38 | April 29, 2024 |
| October 2025 | $1,393,864,710 | 42 | March 28, 2025 |
| October 2026 | $2,060,624,142 | 46 | March 30, 2026 |

Regulatory assets under management: $562,716,165 in the October 2024 data and $2,060,624,142 in the October 2026 data, up 266%.
Total employees: 38 in October 2024 and 46 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 21 to 22.
- Regulatory assets under management went from $1,393,864,710 to $2,060,624,142 (+48%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. APC Asset Development II, LP (CRD 328587): Form ADV filing data as of October 2026.