# FIC Partners Management, LP

> FIC Partners Management, LP is an SEC-registered investment advisory firm in Houston, TX, registered since 2017, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated April 29, 2026.

- CRD: 282788
- Filed as: FIC PARTNERS MANAGEMENT, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Houston, TX
- Filing period: October 2026
- Form ADV filing dated: April 29, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/282788
- AdvisorCensus page: https://advisorcensus.com/firm/fic-partners-management-lp-houston-tx-282788

## Quick answers

**How is FIC Partners Management, LP compensated?**
On its Form ADV (Item 5.E, October 2026), FIC Partners Management, LP reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is FIC Partners Management, LP located?**
FIC Partners Management, LP's principal office is in Houston, TX, according to its Form ADV.

**Is FIC Partners Management, LP registered with the SEC or a state?**
FIC Partners Management, LP is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 282788.

**How much does FIC Partners Management, LP manage?**
FIC Partners Management, LP reports $1,966,997,502 in regulatory assets under management in its Form ADV filing dated April 29, 2026 (100% discretionary).

**How have FIC Partners Management, LP's assets and staff changed since 2021?**
In the Form ADV data for FIC Partners Management, LP: Regulatory assets under management: $374,359,444 in the October 2021 data and $1,966,997,502 in the October 2026 data, up 425%. Total employees: 7 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does FIC Partners Management, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (20).

**Does FIC Partners 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/282788

**What changed in FIC Partners Management, LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 4 to 7.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees
- Other

### Regulatory assets under management (Item 5.F)
- Total: $1,966,997,502
- Discretionary: $1,966,997,502
- 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) | 20 | $1,966,997,502 |
| 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)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2017 (9 years)
- Employees: 8 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NC, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [ficfund.com](https://ficfund.com)
- LinkedIn @ficfund
- LinkedIn @first-infrastructure-capital-advisors-llc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $374,359,444 | 7 | March 12, 2021 |
| October 2022 | $470,497,255 | 3 | August 29, 2022 |
| October 2023 | $1,682,618,892 | 3 | May 30, 2023 |
| October 2024 | $1,480,900,615 | 3 | March 25, 2024 |
| October 2025 | $1,813,528,687 | 5 | July 31, 2025 |
| October 2026 | $1,966,997,502 | 8 | April 29, 2026 |

Regulatory assets under management: $374,359,444 in the October 2021 data and $1,966,997,502 in the October 2026 data, up 425%.
Total employees: 7 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 4 to 7.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. FIC Partners Management, LP (CRD 282788): Form ADV filing data as of October 2026.