# CQS (US), LLC

> CQS (US), LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2008, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 31, 2026.

- CRD: 147329
- Also doing business as: MANULIFE CQS INVESTMENT MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: July 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/147329
- AdvisorCensus page: https://advisorcensus.com/firm/cqs-us-llc-new-york-ny-147329

## Quick answers

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

**Where is CQS (US), LLC located?**
CQS (US), LLC's principal office is in New York, NY, according to its Form ADV.

**Is CQS (US), LLC registered with the SEC or a state?**
CQS (US), LLC is an SEC-registered investment advisory firm, registered since 2008. Status as filed: Approved. CRD 147329.

**How much does CQS (US), LLC manage?**
CQS (US), LLC reports $5,492,827,024 in regulatory assets under management in its Form ADV filing dated July 31, 2026 (100% discretionary).

**How have CQS (US), LLC's assets and staff changed since 2021?**
In the Form ADV data for CQS (US), LLC: Regulatory assets under management: $3,702,784,514 in the October 2021 data and $5,492,827,024 in the October 2026 data, up 48%. Total employees: 29 in October 2021 and 16 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does CQS (US), LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (12); investment companies (3).

**Does CQS (US), LLC 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/147329

**What changed in CQS (US), LLC's recent Form ADV filings?**
In the July 2026 filing data: Regulatory assets under management went from $2,962,844,594 to $5,492,827,024 (+85%).

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $5,492,827,024
- Discretionary: $5,492,827,024
- Non-discretionary: $0

### 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 | 3 | $797,998,475 |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 12 | $4,694,828,549 |
| 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 |

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

### Firm details
- Registered since: 2008 (18 years)
- Employees: 16 total, 10 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.

### Websites listed on Form ADV (Item 1.I)
- [cqs.com](https://cqs.com)
- [manulifeim.com/institutional/global/en/capabilities/cqs](https://manulifeim.com/institutional/global/en/capabilities/cqs)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,702,784,514 | 29 | June 29, 2021 |
| October 2022 | $3,493,399,231 | 23 | September 14, 2022 |
| October 2023 | $1,546,258,238 | 18 | August 28, 2023 |
| October 2024 | $3,551,255,917 | 17 | August 13, 2024 |
| October 2025 | $2,962,844,594 | 16 | June 30, 2025 |
| October 2026 | $5,492,827,024 | 16 | July 31, 2026 |

Regulatory assets under management: $3,702,784,514 in the October 2021 data and $5,492,827,024 in the October 2026 data, up 48%.
Total employees: 29 in October 2021 and 16 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Regulatory assets under management went from $2,962,844,594 to $5,492,827,024 (+85%).

### April 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. CQS (US), LLC (CRD 147329): Form ADV filing data as of October 2026.