# Forest Investment Associates

> Forest Investment Associates is an SEC-registered investment advisory firm in Atlanta, GA, registered since 1986, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 2, 2026.

- CRD: 110163
- Filed as: FOREST INVESTMENT ASSOCIATES
- Legal name: Forest Investment Associates L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Atlanta, GA
- Filing period: October 2026
- Form ADV filing dated: April 2, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/110163
- AdvisorCensus page: https://advisorcensus.com/firm/forest-investment-associates-atlanta-ga-110163

## Quick answers

**How is Forest Investment Associates compensated?**
On its Form ADV (Item 5.E, October 2026), Forest Investment Associates 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 Forest Investment Associates located?**
Forest Investment Associates' principal office is in Atlanta, GA, according to its Form ADV.

**Is Forest Investment Associates registered with the SEC or a state?**
Forest Investment Associates is an SEC-registered investment advisory firm, registered since 1986. Status as filed: Approved. CRD 110163.

**How much does Forest Investment Associates manage?**
Forest Investment Associates reports $5,235,218,008 in regulatory assets under management in its Form ADV filing dated April 2, 2026 (5% discretionary).

**How have Forest Investment Associates' assets and staff changed since 2021?**
In the Form ADV data for Forest Investment Associates: Regulatory assets under management: $4,364,239,421 in the October 2021 data and $5,235,218,008 in the October 2026 data, up 20%. Total employees: 39 in October 2021 and 55 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Forest Investment Associates serve?**
By number of clients on Form ADV Item 5.D: state or municipal government entities (including government pension plans) (6); pooled investment vehicles (other than investment companies and business development companies) (5); pension and profit sharing plans (but not the plan participants or government pension plans) (5).

**Does Forest Investment Associates 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/110163

**What changed in Forest Investment Associates' recent Form ADV filings?**
In the April 2026 filing data: 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
- Fixed fees (other than subscription fees)
- Performance-based fees
- Other

### Regulatory assets under management (Item 5.F)
- Total: $5,235,218,008
- Discretionary: $276,956,061
- Non-discretionary: $4,958,261,947

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | Fewer than 5 | $151,907,311 |
| 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) | 5 | $1,278,821,176 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 5 | $1,543,531,009 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 6 | $2,243,452,564 |
| Other investment advisers | 0 | $0 |
| Insurance companies | Not reported | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | Fewer than 5 | $17,505,948 |

### 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: 1986 (40 years)
- Employees: 55 total, 13 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: GA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [forestinvest.com](https://forestinvest.com)
- LinkedIn @forest-investment-associates

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,364,239,421 | 39 | May 7, 2021 |
| October 2022 | $4,382,116,289 | 52 | March 29, 2022 |
| October 2023 | $4,638,104,805 | 54 | August 17, 2023 |
| October 2024 | $5,041,717,830 | 56 | May 22, 2024 |
| October 2025 | $5,228,063,835 | 60 | March 25, 2025 |
| October 2026 | $5,235,218,008 | 55 | April 2, 2026 |

Regulatory assets under management: $4,364,239,421 in the October 2021 data and $5,235,218,008 in the October 2026 data, up 20%.
Total employees: 39 in October 2021 and 55 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Forest Investment Associates (CRD 110163): Form ADV filing data as of October 2026.