# Black Diamond Capital Management

> Black Diamond Capital Management is an SEC-registered investment advisory firm in St. Thomas, VI, registered since 2010, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 13, 2026.

- CRD: 154495
- Filed as: BLACK DIAMOND CAPITAL MANAGEMENT
- Legal name: Black Diamond Capital Management I, LLLP
- Also doing business as: BLACK DIAMOND CAPITAL MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: St. Thomas, VI
- Filing period: October 2026
- Form ADV filing dated: July 13, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/154495
- AdvisorCensus page: https://advisorcensus.com/firm/black-diamond-capital-management-st-thomas-vi-154495

## Quick answers

**How is Black Diamond Capital Management compensated?**
On its Form ADV (Item 5.E, October 2026), Black Diamond Capital Management 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 Black Diamond Capital Management located?**
Black Diamond Capital Management's principal office is in St. Thomas, VI, according to its Form ADV; the August 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Black Diamond Capital Management registered with the SEC or a state?**
Black Diamond Capital Management is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 154495.

**How much does Black Diamond Capital Management manage?**
Black Diamond Capital Management reports $10,714,142,774 in regulatory assets under management in its Form ADV filing dated July 13, 2026 (100% discretionary).

**How have Black Diamond Capital Management's assets and staff changed since 2021?**
In the Form ADV data for Black Diamond Capital Management: Regulatory assets under management: $10,083,170,369 in the October 2021 data and $10,714,142,774 in the October 2026 data, up 6%. Total employees: 86 in October 2021 and 100 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Black Diamond Capital Management serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (38).

**Does Black Diamond Capital Management 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/154495

**What changed in Black Diamond Capital Management's recent Form ADV filings?**
In the August 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
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $10,714,142,774
- Discretionary: $10,714,142,774
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 38 | $10,714,142,774 |

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

### Firm details
- Registered since: 2010 (16 years)
- Employees: 100 total, 44 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CT, VI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- London
- Powai, Mumbai
- Stamford, CT

### Websites listed on Form ADV (Item 1.I)
- bdcm.com
- LinkedIn @black-diamond-capital-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $10,083,170,369 | 86 | August 26, 2021 |
| October 2022 | $9,890,652,082 | 87 | March 31, 2022 |
| October 2023 | $10,496,603,496 | 101 | October 2, 2023 |
| October 2024 | $10,817,390,771 | 95 | March 28, 2024 |
| October 2025 | $10,548,871,887 | 96 | March 31, 2025 |
| October 2026 | $10,714,142,774 | 100 | July 13, 2026 |

Regulatory assets under management: $10,083,170,369 in the October 2021 data and $10,714,142,774 in the October 2026 data, up 6%.
Total employees: 86 in October 2021 and 100 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Employees performing advisory functions went from 47 to 44.
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Changed its legal name from Black Diamond Capital Management, L.L.C. to Black Diamond Capital Management I, LLLP.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Black Diamond Capital Management (CRD 154495): Form ADV filing data as of October 2026.