{
  "crd_number": 122711,
  "slug": "crestline-management-l-p-fort-worth-tx-122711",
  "primary_business_name": "CRESTLINE MANAGEMENT, L.P.",
  "legal_name": "CRESTLINE MANAGEMENT, L.P.",
  "dbas": [
    "CRESTLINE ASIA SUB, L.P.",
    "CRESTLINE CANADA SUB, L.P. - RELYING ADVISER",
    "CRESTLINE RESEARCH ASSOCIATES SUB, L.P."
  ],
  "city": "Fort Worth",
  "state": "TX",
  "country": "United States",
  "cbsa_code": "19100",
  "metro": {
    "cbsa_code": "19100",
    "common_name": "Dallas",
    "msa_name": "Dallas-Fort Worth-Arlington, TX",
    "path": "/advisors/tx/dallas"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2002-12-02",
  "years_registered": 23,
  "period": "2026-10-01",
  "filing_date": "2026-08-28",
  "carried_forward": false,
  "raum_total": 22509958896.0,
  "raum_discretionary": 22509958896.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 195,
  "advisory_employees": 113,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "state_municipal": {
      "raum": 800488369.0,
      "count": null,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": 2614408804.0,
      "count": 5
    },
    "pension_profit_sharing": {
      "raum": 4844929579.0,
      "count": 9
    },
    "other_investment_advisers": {
      "raum": 131829295.0,
      "count": null,
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 12586340566.0,
      "count": 100
    },
    "corporations_other_businesses": {
      "raum": 97735501.0,
      "count": null,
      "fewer_than_5": true
    },
    "business_development_companies": {
      "raum": 549604051.0,
      "count": 1
    },
    "sovereign_wealth_foreign_official": {
      "raum": 884622731.0,
      "count": 16
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "TX"
  ],
  "websites": [
    "https://crestlineinvestors.com",
    "https://linkedin.com/company/crestline-investors-inc."
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/122711",
  "city_as_filed": "FORT WORTH",
  "url": "https://advisorcensus.com/firm/crestline-management-l-p-fort-worth-tx-122711",
  "display_name": "Crestline Management, L.P.",
  "summary": "Crestline Management, L.P. is an SEC-registered investment advisory firm in Fort Worth, TX, registered since 2002, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 28, 2026.",
  "citation": "AdvisorCensus. Crestline Management, L.P. (CRD 122711): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Crestline Management, L.P. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Crestline Management, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other."
    },
    {
      "q": "Where is Crestline Management, L.P. located?",
      "a": "Crestline Management, L.P.'s principal office is in Fort Worth, TX, according to its Form ADV; the September 2026 filing also lists 3 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Crestline Management, L.P. registered with the SEC or a state?",
      "a": "Crestline Management, L.P. is an SEC-registered investment advisory firm, registered since 2002. Status as filed: Approved. CRD 122711."
    },
    {
      "q": "How much does Crestline Management, L.P. manage?",
      "a": "Crestline Management, L.P. reports $22,509,958,896 in regulatory assets under management in its Form ADV filing dated August 28, 2026 (100% discretionary)."
    },
    {
      "q": "How have Crestline Management, L.P.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Crestline Management, L.P.: Regulatory assets under management: $17,434,951,643 in the October 2021 data and $22,509,958,896 in the October 2026 data, up 29%. Total employees: 150 in October 2021 and 195 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Crestline Management, L.P. serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (100); sovereign wealth funds and foreign official institutions (16); pension and profit sharing plans (but not the plan participants or government pension plans) (9)."
    },
    {
      "q": "Does Crestline Management, L.P. report any disciplinary disclosures?",
      "a": "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/122711"
    },
    {
      "q": "Does Crestline Management, L.P. state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 says: \"Crestline generally requires investors in its fund clients to be qualified purchasers, as defined in the Investment Company Act and generally requires a minimum investment of $1,000,000, although Crestline may accept and has accepted lesser amounts.\""
    },
    {
      "q": "What changed in Crestline Management, L.P.'s recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 107 to 113."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 17434951643.0,
      "total_employees": 150,
      "filing_date": "2021-08-27"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 20096895576.0,
      "total_employees": 161,
      "filing_date": "2022-08-29"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 20824607947.0,
      "total_employees": 203,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 24537485205.0,
      "total_employees": 218,
      "filing_date": "2024-08-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 20492502090.0,
      "total_employees": 176,
      "filing_date": "2025-05-30"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 22509958896.0,
      "total_employees": 195,
      "filing_date": "2026-08-28"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 107 to 113."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "No longer lists the business name Crestline Canada, Inc. - Relying Adviser.",
        "No longer lists the business name Crestline Asia, Inc..",
        "Added the business name Crestline Asia SUB, L.P..",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 30, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000"
        ],
        "quotes": [
          "Crestline generally requires investors in its fund clients to be qualified purchasers, as defined in the Investment Company Act and generally requires a minimum investment of $1,000,000, although Crestline may accept and has accepted lesser amounts."
        ]
      }
    ],
    "quotes": [
      "Crestline generally requires investors in its fund clients to be qualified purchasers, as defined in the Investment Company Act and generally requires a minimum investment of $1,000,000, although Crestline may accept and has accepted lesser amounts."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/crestline-management-l-p-fort-worth-tx-122711.md",
  "clients": [
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 549604051.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 100,
      "fewer_than_5": false,
      "raum": 12586340566.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 9,
      "fewer_than_5": false,
      "raum": 4844929579.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": true,
      "raum": 800488369.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": null,
      "fewer_than_5": true,
      "raum": 131829295.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 5,
      "fewer_than_5": false,
      "raum": 2614408804.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 16,
      "fewer_than_5": false,
      "raum": 884622731.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": true,
      "raum": 97735501.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/122711",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}