# BCSF Advisors, LP

> BCSF Advisors, LP is an SEC-registered investment advisory firm in Boston, MA, registered since 2016, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 282092
- Filed as: BCSF ADVISORS, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/282092
- AdvisorCensus page: https://advisorcensus.com/firm/bcsf-advisors-lp-boston-ma-282092

## Quick answers

**How is BCSF Advisors, LP compensated?**
On its Form ADV (Item 5.E, October 2026), BCSF Advisors, LP 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 BCSF Advisors, LP located?**
BCSF Advisors, LP's principal office is in Boston, MA, according to its Form ADV.

**Is BCSF Advisors, LP registered with the SEC or a state?**
BCSF Advisors, LP is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 282092.

**How much does BCSF Advisors, LP manage?**
BCSF Advisors, LP reports $3,647,381,756 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have BCSF Advisors, LP's assets and staff changed since 2021?**
In the Form ADV data for BCSF Advisors, LP: Regulatory assets under management: $3,867,915,474 in the October 2021 data and $3,647,381,756 in the October 2026 data, down 6%. Total employees: 419 in October 2021 and 682 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does BCSF Advisors, LP serve?**
By number of clients on Form ADV Item 5.D: investment companies (2); business development companies (1).

**Does BCSF Advisors, LP report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). 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/282092

**What changed in BCSF Advisors, LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 255 to 272. Regulatory assets under management went from $3,284,198,271 to $3,647,381,756 (+11%). Updated its list of owners and control persons (Schedule A).

## 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: $3,647,381,756
- Discretionary: $3,647,381,756
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 2 | $1,207,003,832 |
| Business development companies | 1 | $2,440,377,924 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2016 (10 years)
- Employees: 682 total, 272 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/282092

### Websites listed on Form ADV (Item 1.I)
- baincapital.com
- baincapitalcredit.com
- baincapitalspecialtyfinance.com
- LinkedIn @bain-capital
- X @BAINCAPITAL
- YouTube @UCHLw83UfiBEm9RoLlZKPaig

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,867,915,474 | 419 | March 31, 2021 |
| October 2022 | $4,914,009,984 | 460 | March 31, 2022 |
| October 2023 | $3,643,612,499 | 521 | March 31, 2023 |
| October 2024 | $3,063,707,508 | 558 | July 31, 2024 |
| October 2025 | $3,284,198,271 | 633 | July 24, 2025 |
| October 2026 | $3,647,381,756 | 682 | March 31, 2026 |

Regulatory assets under management: $3,867,915,474 in the October 2021 data and $3,647,381,756 in the October 2026 data, down 6%.
Total employees: 419 in October 2021 and 682 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 255 to 272.
- Regulatory assets under management went from $3,284,198,271 to $3,647,381,756 (+11%).
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. BCSF Advisors, LP (CRD 282092): Form ADV filing data as of October 2026.