# Denham Capital Management LP

> Denham Capital Management LP is an SEC-registered investment advisory firm in Boston, MA, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 156605
- Filed as: DENHAM CAPITAL MANAGEMENT LP
- Also doing business as: DENHAM CAPITAL MANAGEMENT (UK) LLP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/156605
- AdvisorCensus page: https://advisorcensus.com/firm/denham-capital-management-lp-boston-ma-156605

## Quick answers

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

**What does Denham Capital Management LP's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 1% to 2% 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 Denham Capital Management LP located?**
Denham Capital Management LP's principal office is in Boston, MA, according to its Form ADV; the April 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Denham Capital Management LP registered with the SEC or a state?**
Denham Capital Management LP is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 156605.

**How much does Denham Capital Management LP manage?**
Denham Capital Management LP reports $5,264,574,125 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Denham Capital Management LP's assets and staff changed since 2021?**
In the Form ADV data for Denham Capital Management LP: Regulatory assets under management: $4,755,061,998 in the October 2021 data and $5,264,574,125 in the October 2026 data, up 11%. Total employees: 58 in October 2021 and 29 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Denham Capital Management LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (9); insurance companies (3).

**Does Denham Capital Management LP 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/156605

## 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 March 31, 2026)

- Asset-based fee: 1% to 2% a year (a range, as the brochure states it)

> This management fee generally ranges from 1% to 2% per annum of capital commitments and generally is reduced upon the end of a fund’s commitment period.

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

### Regulatory assets under management (Item 5.F)
- Total: $5,264,574,125
- Discretionary: $5,264,574,125
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 9 | $3,240,531,993 |
| Insurance companies | 3 | $2,024,042,132 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2012 (14 years)
- Employees: 29 total, 25 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA, NJ, 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
- Jersey City, NJ
- London
- Toronto

### Websites listed on Form ADV (Item 1.I)
- denhamcapital.com
- LinkedIn @denham-capital

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,755,061,998 | 58 | July 14, 2021 |
| October 2022 | $7,507,619,959 | 60 | March 31, 2022 |
| October 2023 | $6,350,730,492 | 34 | September 12, 2023 |
| October 2024 | $6,125,493,267 | 30 | March 30, 2024 |
| October 2025 | $5,724,623,163 | 29 | May 28, 2025 |
| October 2026 | $5,264,574,125 | 29 | March 31, 2026 |

Regulatory assets under management: $4,755,061,998 in the October 2021 data and $5,264,574,125 in the October 2026 data, up 11%.
Total employees: 58 in October 2021 and 29 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Denham Capital Management LP (CRD 156605): Form ADV filing data as of October 2026.