# BDT Capital Partners

> BDT Capital Partners is an SEC-registered investment advisory firm in Chicago, IL, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 3, 2026.

- CRD: 160914
- Filed as: BDT CAPITAL PARTNERS
- Legal name: BDT Capital Partners, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: August 3, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/160914
- AdvisorCensus page: https://advisorcensus.com/firm/bdt-capital-partners-chicago-il-160914

## Quick answers

**How is BDT Capital Partners compensated?**
On its Form ADV (Item 5.E, October 2026), BDT Capital Partners reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**Where is BDT Capital Partners located?**
BDT Capital Partners' principal office is in Chicago, IL, according to its Form ADV; the September 2026 filing also lists 12 other offices (Schedule D, Section 1.F).

**Is BDT Capital Partners registered with the SEC or a state?**
BDT Capital Partners is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 160914.

**How much does BDT Capital Partners manage?**
BDT Capital Partners reports $51,515,270,131 in regulatory assets under management in its Form ADV filing dated August 3, 2026 (100% discretionary).

**How have BDT Capital Partners' assets and staff changed since 2021?**
In the Form ADV data for BDT Capital Partners: Regulatory assets under management: $27,735,272,113 in the October 2021 data and $51,515,270,131 in the October 2026 data, up 86%. Total employees: 157 in October 2021 and 498 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does BDT Capital Partners serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (45).

**Which custodians does BDT Capital Partners use?**
BDT Capital Partners' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Impactassets as a custodian holding 10% or more of its separately managed account assets.

**Does BDT Capital Partners 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/160914

**What changed in BDT Capital Partners' recent Form ADV filings?**
In the September 2026 filing data: 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
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Impactassets

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: $51,515,270,131
- Discretionary: $51,513,603,464
- Non-discretionary: $1,666,667

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 45 | $51,513,603,464 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | Fewer than 5 | $1,666,667 |

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

### Firm details
- Registered since: 2012 (14 years)
- Employees: 498 total, 231 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO, FL, NY, TX
- 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
- Dallas, TX
- Denver, CO
- Dubai
- Frankfurt
- London
- Luxembourg
- Menlo Park, CA
- New York, NY
- Palm Beach, FL
- Rye, NY
- Santa Monica, CA
- Verbier

### Websites listed on Form ADV (Item 1.I)
- bdtmsd.com
- LinkedIn @bdtmsd-partners

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $27,735,272,113 | 157 | March 31, 2021 |
| October 2022 | $33,285,313,527 | 170 | March 30, 2022 |
| October 2023 | $41,035,279,854 | 393 | March 31, 2023 |
| October 2024 | $49,693,263,827 | 421 | July 8, 2024 |
| October 2025 | $49,453,152,982 | 456 | March 31, 2025 |
| October 2026 | $51,515,270,131 | 498 | August 3, 2026 |

Regulatory assets under management: $27,735,272,113 in the October 2021 data and $51,515,270,131 in the October 2026 data, up 86%.
Total employees: 157 in October 2021 and 498 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Employees performing advisory functions went from 208 to 231.
- Changed its office addresses in London.
- Added an office in Luxembourg.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. BDT Capital Partners (CRD 160914): Form ADV filing data as of October 2026.