# FCP

> FCP is an SEC-registered investment advisory firm in Chevy Chase, MD, registered since 2012, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 8, 2026.

- CRD: 161468
- Legal name: Federated Hermes FCP Manager, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chevy Chase, MD
- Filing period: October 2026
- Form ADV filing dated: May 8, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/161468
- AdvisorCensus page: https://advisorcensus.com/firm/fcp-chevy-chase-md-161468

## Quick answers

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

**Where is FCP located?**
FCP's principal office is in Chevy Chase, MD, according to its Form ADV; the June 2026 filing also lists 4 other offices (Schedule D, Section 1.F).

**Is FCP registered with the SEC or a state?**
FCP is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161468.

**How much does FCP manage?**
FCP reports $3,477,753,977 in regulatory assets under management in its Form ADV filing dated May 8, 2026 (85% discretionary).

**How have FCP's assets and staff changed since 2021?**
In the Form ADV data for FCP: Regulatory assets under management: $1,352,448,689 in the October 2021 data and $3,477,753,977 in the October 2026 data, up 157%. Total employees: 61 in October 2021 and 75 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does FCP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (11); state or municipal government entities (including government pension plans) (1); corporations or other businesses not listed above (1).

**Which custodians does FCP use?**
FCP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists JP Morgan Chase Bank NA and State Street Bank and Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does FCP 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/161468

**What changed in FCP's recent Form ADV filings?**
In the June 2026 filing data: Reported a succession: took over the business of FCP (CRD 161468) on April 9, 2026. Changed its legal name from FCP Fund Manager, L.P. to Federated Hermes FCP Manager, LLC. 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
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- JP Morgan Chase Bank NA
- State Street Bank and 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: $3,477,753,977
- Discretionary: $2,943,540,857
- Non-discretionary: $534,213,120

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 11 | $2,943,540,857 |
| State or municipal government entities (including government pension plans) | 1 | $503,623,120 |
| Corporations or other businesses not listed above | 1 | $30,590,000 |

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

### Firm details
- Registered since: 2012 (14 years)
- Employees: 75 total, 28 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO, GA, MD, NC
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the June 2026 filing
- Austin, TX
- Denver, CO
- New York, NY
- Raleigh, NC

### Websites listed on Form ADV (Item 1.I)
- fcpdc.com
- Facebook @FCPToday
- LinkedIn @federal-capital-partners
- X @fcp_today

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,352,448,689 | 61 | March 31, 2021 |
| October 2022 | $2,957,056,225 | 71 | March 31, 2022 |
| October 2023 | $3,538,172,358 | 84 | March 31, 2023 |
| October 2024 | $4,084,712,810 | 86 | March 28, 2024 |
| October 2025 | $3,801,550,603 | 78 | March 31, 2025 |
| October 2026 | $3,477,753,977 | 75 | May 8, 2026 |

Regulatory assets under management: $1,352,448,689 in the October 2021 data and $3,477,753,977 in the October 2026 data, up 157%.
Total employees: 61 in October 2021 and 75 in October 2026.

## Changes in the filing (last 12 months)

### June 2026
- Reported a succession: took over the business of FCP (CRD 161468) on April 9, 2026.
- Changed its legal name from FCP Fund Manager, L.P. to Federated Hermes FCP Manager, LLC.
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 30 to 28.
- Added an office in Austin, TX.
- No longer lists an office in Atlanta, GA.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. FCP (CRD 161468): Form ADV filing data as of October 2026.