# Crescent Park Management, L.P.

> Crescent Park Management, L.P. is an SEC-registered investment advisory firm in Los Altos, CA, registered since 2014, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated September 18, 2026.

- CRD: 172326
- Filed as: CRESCENT PARK MANAGEMENT, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Los Altos, CA
- Filing period: October 2026
- Form ADV filing dated: September 18, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/172326
- AdvisorCensus page: https://advisorcensus.com/firm/crescent-park-management-l-p-los-altos-ca-172326

## Quick answers

**How is Crescent Park Management, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Crescent Park Management, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**What does Crescent Park Management, L.P.'s brochure say about its fees?**
Its Form ADV Part 2A brochure dated May 28, 2026 states: Asset-based fee: 1% to 1.3% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Crescent Park Management, L.P. located?**
Crescent Park Management, L.P.'s principal office is in Los Altos, CA, according to its Form ADV.

**Is Crescent Park Management, L.P. registered with the SEC or a state?**
Crescent Park Management, L.P. is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 172326.

**How much does Crescent Park Management, L.P. manage?**
Crescent Park Management, L.P. reports $53,838,959 in regulatory assets under management in its Form ADV filing dated September 18, 2026 (100% discretionary).

**How have Crescent Park Management, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Crescent Park Management, L.P.: Regulatory assets under management: $845,053,278 in the October 2021 data and $53,838,959 in the October 2026 data, down 94%. Total employees: 8 in October 2021 and 1 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Crescent Park Management, L.P. serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (14).

**Which custodians does Crescent Park Management, L.P. use?**
Crescent Park Management, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Crescent Park Management, L.P. 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/172326

**What changed in Crescent Park Management, L.P.'s recent Form ADV filings?**
In the October 2026 filing data: Regulatory assets under management went from $234,441,995 to $53,838,959 (-77%).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated May 28, 2026)

- Asset-based fee: 1% to 1.3% a year (a range, as the brochure states it)

> Crescent Park typically charges management fees between 1 – 1.3% to applicable Funds depending on each Fund’s Governing Documents, which are calculated as a percentage of assets of each Fund as of the first day of each fiscal quarter.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

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: $53,838,959
- Discretionary: $53,838,959
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 14 | $53,838,959 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2014 (12 years)
- Employees: 1 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- crespark.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $845,053,278 | 8 | March 31, 2021 |
| October 2022 | $742,481,150 | 7 | March 31, 2022 |
| October 2023 | $486,060,491 | 8 | May 31, 2023 |
| October 2024 | $481,490,682 | 7 | May 15, 2024 |
| October 2025 | $351,490,748 | 5 | May 2, 2025 |
| October 2026 | $53,838,959 | 1 | September 18, 2026 |

Regulatory assets under management: $845,053,278 in the October 2021 data and $53,838,959 in the October 2026 data, down 94%.
Total employees: 8 in October 2021 and 1 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Regulatory assets under management went from $234,441,995 to $53,838,959 (-77%).

### April 2026
- Employees performing advisory functions went from 4 to 1.
- Regulatory assets under management went from $351,490,748 to $234,441,995 (-33%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Crescent Park Management, L.P. (CRD 172326): Form ADV filing data as of October 2026.