# Avenue Capital Management II, L.P.

> Avenue Capital Management II, L.P. is an SEC-registered investment advisory firm in New York, NY, registered since 2000, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 24, 2026.

- CRD: 111845
- Filed as: AVENUE CAPITAL MANAGEMENT II, L.P.
- Also doing business as: AVENUE ASIA CAPITAL MANAGEMENT, L.P. (CRD NUMBER 113246), AVENUE CAPITAL GROUP, AVENUE EUROPE INTERNATIONAL MANAGEMENT, L.P. (CRD NUMBER 131937)
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: August 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/111845
- AdvisorCensus page: https://advisorcensus.com/firm/avenue-capital-management-ii-l-p-new-york-ny-111845

## Quick answers

**How is Avenue Capital Management II, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Avenue Capital Management II, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Avenue Capital Management II, L.P. located?**
Avenue Capital Management II, L.P.'s principal office is in New York, NY, according to its Form ADV; the September 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Avenue Capital Management II, L.P. registered with the SEC or a state?**
Avenue Capital Management II, L.P. is an SEC-registered investment advisory firm, registered since 2000. Status as filed: Approved. CRD 111845.

**How much does Avenue Capital Management II, L.P. manage?**
Avenue Capital Management II, L.P. reports $4,973,514,377 in regulatory assets under management in its Form ADV filing dated August 24, 2026 (100% discretionary).

**How have Avenue Capital Management II, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Avenue Capital Management II, L.P.: Regulatory assets under management: $6,372,692,424 in the October 2021 data and $4,973,514,377 in the October 2026 data, down 22%. Total employees: 174 in October 2021 and 183 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Avenue Capital Management II, L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (35).

**Does Avenue Capital Management II, L.P. 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/111845

**What changed in Avenue Capital Management II, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 36 to 39. Regulatory assets under management went from $6,405,794,004 to $4,973,514,377 (-22%).

## 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: $4,973,514,377
- Discretionary: $4,973,514,377
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 35 | $4,973,514,377 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2000 (26 years)
- Employees: 183 total, 39 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Luxembourg
- Redwood City, CA
- Sandyford, Dublin

### Websites listed on Form ADV (Item 1.I)
- avenuecapital.com
- LinkedIn @AVENUE-CAPITAL-GROUP

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $6,372,692,424 | 174 | July 22, 2021 |
| October 2022 | $7,215,369,623 | 176 | August 25, 2022 |
| October 2023 | $7,225,578,756 | 186 | April 25, 2023 |
| October 2024 | $7,494,538,668 | 186 | August 12, 2024 |
| October 2025 | $6,405,794,004 | 179 | April 30, 2025 |
| October 2026 | $4,973,514,377 | 183 | August 24, 2026 |

Regulatory assets under management: $6,372,692,424 in the October 2021 data and $4,973,514,377 in the October 2026 data, down 22%.
Total employees: 174 in October 2021 and 183 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 36 to 39.
- Regulatory assets under management went from $6,405,794,004 to $4,973,514,377 (-22%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Avenue Capital Management II, L.P. (CRD 111845): Form ADV filing data as of October 2026.