# CRG

> CRG is an SEC-registered investment advisory firm in Houston, TX, registered since 2004, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated October 1, 2026.

- CRD: 132967
- Legal name: CR Group L.P.
- Also doing business as: CRG
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Houston, TX
- Filing period: October 2026
- Form ADV filing dated: October 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/132967
- AdvisorCensus page: https://advisorcensus.com/firm/crg-houston-tx-132967

## Quick answers

**How is CRG compensated?**
On its Form ADV (Item 5.E, October 2026), CRG 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 CRG located?**
CRG's principal office is in Houston, TX, according to its Form ADV; the April 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is CRG registered with the SEC or a state?**
CRG is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 132967.

**How much does CRG manage?**
CRG reports $2,207,554,370 in regulatory assets under management in its Form ADV filing dated October 1, 2026 (100% discretionary).

**How have CRG's assets and staff changed since 2021?**
In the Form ADV data for CRG: Regulatory assets under management: $3,230,314,007 in the October 2021 data and $2,207,554,370 in the October 2026 data, down 32%. Total employees: 27 in October 2021 and 21 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does CRG serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (10).

**Does CRG 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/132967

**What changed in CRG's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 11 to 9. Regulatory assets under management went from $2,893,501,035 to $2,207,554,370 (-24%).

## 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: $2,207,554,370
- Discretionary: $2,207,554,370
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 10 | $2,207,554,370 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

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

### Firm details
- Registered since: 2004 (22 years)
- Employees: 21 total, 9 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO, NY, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Boulder, CO
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- crglp.com
- LinkedIn @capital-royalty-lp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,230,314,007 | 27 | March 31, 2021 |
| October 2022 | $3,048,273,156 | 27 | March 30, 2022 |
| October 2023 | $3,070,726,444 | 23 | June 14, 2023 |
| October 2024 | $2,956,547,063 | 24 | August 8, 2024 |
| October 2025 | $2,893,501,035 | 24 | March 31, 2025 |
| October 2026 | $2,207,554,370 | 21 | October 1, 2026 |

Regulatory assets under management: $3,230,314,007 in the October 2021 data and $2,207,554,370 in the October 2026 data, down 32%.
Total employees: 27 in October 2021 and 21 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 11 to 9.
- Regulatory assets under management went from $2,893,501,035 to $2,207,554,370 (-24%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. CRG (CRD 132967): Form ADV filing data as of October 2026.