# Crescent Real Estate LLC

> Crescent Real Estate LLC is an SEC-registered investment advisory firm in Fort Worth, TX, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 23, 2026.

- CRD: 158397
- Filed as: CRESCENT REAL ESTATE LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Fort Worth, TX
- Filing period: October 2026
- Form ADV filing dated: September 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/158397
- AdvisorCensus page: https://advisorcensus.com/firm/crescent-real-estate-llc-fort-worth-tx-158397

## Quick answers

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

**Where is Crescent Real Estate LLC located?**
Crescent Real Estate LLC's principal office is in Fort Worth, TX, according to its Form ADV; the October 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Crescent Real Estate LLC registered with the SEC or a state?**
Crescent Real Estate LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 158397.

**How much does Crescent Real Estate LLC manage?**
Crescent Real Estate LLC reports $5,113,386,114 in regulatory assets under management in its Form ADV filing dated September 23, 2026 (76% discretionary).

**How have Crescent Real Estate LLC's assets and staff changed since 2021?**
In the Form ADV data for Crescent Real Estate LLC: Regulatory assets under management: $3,690,915,769 in the October 2021 data and $5,113,386,114 in the October 2026 data, up 39%. Total employees: 107 in October 2021 and 113 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Crescent Real Estate LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (43).

**Does Crescent Real Estate 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/158397

**What changed in Crescent Real Estate LLC's recent Form ADV filings?**
In the October 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
- Other

### Regulatory assets under management (Item 5.F)
- Total: $5,113,386,114
- Discretionary: $3,877,661,409
- Non-discretionary: $1,235,724,705

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 43 | $5,113,386,114 |

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

### Firm details
- Registered since: 2012 (14 years)
- Employees: 113 total, 34 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Dallas, TX
- Denver, CO

### Websites listed on Form ADV (Item 1.I)
- crescent.com
- Facebook @crescentrealestatellc
- LinkedIn @crescentrealestatellc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,690,915,769 | 107 | March 31, 2021 |
| October 2022 | $4,846,763,450 | 107 | August 30, 2022 |
| October 2023 | $3,931,998,774 | 96 | June 22, 2023 |
| October 2024 | $4,667,010,550 | 99 | May 10, 2024 |
| October 2025 | $4,316,644,320 | 97 | March 31, 2025 |
| October 2026 | $5,113,386,114 | 113 | September 23, 2026 |

Regulatory assets under management: $3,690,915,769 in the October 2021 data and $5,113,386,114 in the October 2026 data, up 39%.
Total employees: 107 in October 2021 and 113 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Employees performing advisory functions went from 35 to 34.
- Regulatory assets under management went from $4,316,644,320 to $5,113,386,114 (+18%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Crescent Real Estate LLC (CRD 158397): Form ADV filing data as of October 2026.