# Bayforest

> Bayforest is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated June 15, 2026.

- CRD: 312969
- Filed as: BAYFOREST
- Legal name: Bayforest Capital Limited
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: June 15, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/312969
- AdvisorCensus page: https://advisorcensus.com/firm/bayforest-london-312969

## Quick answers

**How is Bayforest compensated?**
On its Form ADV (Item 5.E, October 2026), Bayforest 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 Bayforest located?**
Bayforest's principal office is in London, United Kingdom, according to its Form ADV; the July 2025 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Bayforest registered with the SEC or a state?**
Bayforest is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 312969.

**How much does Bayforest manage?**
Bayforest reports $318,073,489 in regulatory assets under management in its Form ADV filing dated June 15, 2026 (100% discretionary).

**How have Bayforest's assets and staff changed since 2023?**
In the Form ADV data for Bayforest: Regulatory assets under management: $722,171,915 in the October 2025 data and $318,073,489 in the October 2026 data, down 56%. Total employees: 23 in October 2025 and 20 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Bayforest serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5); corporations or other businesses not listed above (1).

**Which custodians does Bayforest use?**
Bayforest's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as custodians holding 10% or more of its separately managed account assets.

**Does Bayforest 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/312969

**What changed in Bayforest's recent Form ADV filings?**
In the July 2026 filing data: Employees performing advisory functions went from 8 to 9. Regulatory assets under management went from $722,171,915 to $318,073,489 (-56%). No longer lists an office in Hong Kong.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Goldman Sachs & Co. LLC
- Morgan Stanley & Co. LLC

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.

### Regulatory assets under management (Item 5.F)
- Total: $318,073,489
- Discretionary: $318,073,489
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $268,165,926 |
| Corporations or other businesses not listed above | 1 | $49,907,563 |

### 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: 2024 (1 year)
- Employees: 20 total, 9 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the July 2025 filing
- Hong Kong

### Websites listed on Form ADV (Item 1.I)
- bayforest.ai
- LinkedIn @bayforest-technologies-limited

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2023 | Not reported | Not reported | August 29, 2023 |
| October 2024 | Not reported | Not reported | May 30, 2024 |
| October 2025 | $722,171,915 | 23 | June 11, 2025 |
| October 2026 | $318,073,489 | 20 | June 15, 2026 |

Regulatory assets under management: $722,171,915 in the October 2025 data and $318,073,489 in the October 2026 data, down 56%.
Total employees: 23 in October 2025 and 20 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Employees performing advisory functions went from 8 to 9.
- Regulatory assets under management went from $722,171,915 to $318,073,489 (-56%).
- No longer lists an office in Hong Kong.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Bayforest (CRD 312969): Form ADV filing data as of October 2026.