# Driehaus Capital Management LLC

> Driehaus Capital Management LLC is an SEC-registered investment advisory firm in Chicago, IL, registered since 1983, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 14, 2026.

- CRD: 105757
- Filed as: DRIEHAUS CAPITAL MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: September 14, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105757
- AdvisorCensus page: https://advisorcensus.com/firm/driehaus-capital-management-llc-chicago-il-105757

## Quick answers

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

**Where is Driehaus Capital Management LLC located?**
Driehaus Capital Management LLC's principal office is in Chicago, IL, according to its Form ADV.

**Is Driehaus Capital Management LLC registered with the SEC or a state?**
Driehaus Capital Management LLC is an SEC-registered investment advisory firm, registered since 1983. Status as filed: Approved. CRD 105757.

**How much does Driehaus Capital Management LLC manage?**
Driehaus Capital Management LLC reports $26,119,257,467 in regulatory assets under management in its Form ADV filing dated September 14, 2026 (100% discretionary).

**How have Driehaus Capital Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Driehaus Capital Management LLC: Regulatory assets under management: $12,462,168,819 in the October 2021 data and $26,119,257,467 in the October 2026 data, up 110%. Total employees: 82 in October 2021 and 82 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Driehaus Capital Management LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (23); corporations or other businesses not listed above (22); investment companies (18).

**Which custodians does Driehaus Capital Management LLC use?**
Driehaus Capital Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists State Street Bank and Trust Company, The Bank of New York Mellon and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does Driehaus Capital Management 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/105757

**What changed in Driehaus Capital Management LLC's recent Form ADV filings?**
In the September 2026 filing data: Registered or notice-filed in ID, TN, WY.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- State Street Bank and Trust Company
- The Bank of New York Mellon
- The Northern Trust Company

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: $26,119,257,467
- Discretionary: $26,119,257,467
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 1 | $2,920,445 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 18 | $10,283,246,693 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 23 | $7,974,399,993 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 11 | $1,280,658,218 |
| Charitable organizations | 7 | $280,799,752 |
| State or municipal government entities (including government pension plans) | 7 | $5,103,785,400 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 1 | $12,008,945 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 22 | $1,181,438,021 |
| Other | 0 | $0 |

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

### Firm details
- Registered since: 1983 (43 years)
- Employees: 82 total, 27 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: ID, IL, LA, TN, TX, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- driehaus.com
- Facebook @Driehaus-Capital-Management-LLC
- Instagram @driehauscapitalmgmt
- LinkedIn @25264
- X @DRIEHAUSCAPITAL

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $12,462,168,819 | 82 | September 8, 2021 |
| October 2022 | $15,170,938,597 | 76 | March 31, 2022 |
| October 2023 | $12,688,128,271 | 78 | May 1, 2023 |
| October 2024 | $15,168,007,761 | 80 | May 6, 2024 |
| October 2025 | $19,758,501,649 | 81 | July 1, 2025 |
| October 2026 | $26,119,257,467 | 82 | September 14, 2026 |

Regulatory assets under management: $12,462,168,819 in the October 2021 data and $26,119,257,467 in the October 2026 data, up 110%.
Total employees: 82 in October 2021 and 82 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Registered or notice-filed in ID, TN, WY.

### April 2026
- Employees performing advisory functions went from 28 to 27.
- Regulatory assets under management went from $19,758,501,649 to $26,119,257,467 (+32%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Driehaus Capital Management LLC (CRD 105757): Form ADV filing data as of October 2026.