{
  "crd_number": 289425,
  "slug": "gc-opal-advisors-llc-chicago-il-289425",
  "primary_business_name": "GC OPAL ADVISORS LLC",
  "legal_name": "GC OPAL ADVISORS LLC",
  "dbas": [
    "GC INVESTMENT MANAGEMENT LLC, RELYING ADVISER",
    "GOLUB CAPITAL LIQUID CREDIT ADVISORS, LLC (MANAGEMENT SERIES), RELYING ADVISOR",
    "OPAL BSL LLC (MANAGEMENT SERIES), RELYING ADVISER"
  ],
  "city": "Chicago",
  "state": "IL",
  "country": "United States",
  "cbsa_code": "16980",
  "metro": {
    "cbsa_code": "16980",
    "common_name": "Chicago",
    "msa_name": "Chicago-Naperville-Elgin, IL-IN",
    "path": "/advisors/il/chicago"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2017-09-07",
  "years_registered": 9,
  "period": "2026-10-01",
  "filing_date": "2026-08-28",
  "carried_forward": false,
  "raum_total": 124304284578.0,
  "raum_discretionary": 124304284578.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 1087,
  "advisory_employees": 306,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": null,
      "count": 0
    },
    "individuals": {
      "raum": null,
      "count": 0
    },
    "banking_thrift": {
      "raum": null,
      "count": 0
    },
    "state_municipal": {
      "raum": 272717479.0,
      "count": 1,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": null,
      "count": 0
    },
    "investment_companies": {
      "raum": null,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 500000000.0,
      "count": 1,
      "fewer_than_5": true
    },
    "high_net_worth_individuals": {
      "raum": null,
      "count": 0
    },
    "pooled_investment_vehicles": {
      "raum": 123531567099.0,
      "count": 85
    },
    "corporations_other_businesses": {
      "raum": null,
      "count": 0
    },
    "business_development_companies": {
      "raum": null,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": null,
      "count": 0
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CO",
    "CT",
    "FL",
    "IL",
    "NC",
    "NY",
    "TX",
    "VI"
  ],
  "websites": [
    "https://education.golubcapital.com",
    "https://gcimanagement.com",
    "https://glassdoor.com/OVERVIEW/WORKING-AT-GOLUB-CAPITAL-EI_IE42611.11,24.HTM",
    "https://golubcapital.com",
    "https://golubgrowth.com",
    "https://indeed.com/CMP/GOLUB-CAPITAL/ABOUT",
    "https://jopwell.com/PARTNERS/118872",
    "https://linkedin.com/COMPANY/GOLUB-CAPITAL",
    "https://linkedin.com/COMPANY/GOLUB-GROWTH",
    "https://linkedin.com/company/gc-investment-management",
    "https://vimeo.com/GOLUBCAPITAL"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/289425",
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/gc-opal-advisors-llc-chicago-il-289425",
  "display_name": "GC Opal Advisors LLC",
  "summary": "GC Opal Advisors LLC is an SEC-registered investment advisory firm in Chicago, IL, registered since 2017, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 28, 2026.",
  "citation": "AdvisorCensus. GC Opal Advisors LLC (CRD 289425): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is GC Opal Advisors LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), GC Opal Advisors LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other."
    },
    {
      "q": "Where is GC Opal Advisors LLC located?",
      "a": "GC Opal Advisors LLC's principal office is in Chicago, IL, according to its Form ADV; the September 2026 filing also lists 10 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is GC Opal Advisors LLC registered with the SEC or a state?",
      "a": "GC Opal Advisors LLC is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 289425."
    },
    {
      "q": "How much does GC Opal Advisors LLC manage?",
      "a": "GC Opal Advisors LLC reports $124,304,284,578 in regulatory assets under management in its Form ADV filing dated August 28, 2026 (100% discretionary)."
    },
    {
      "q": "How have GC Opal Advisors LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for GC Opal Advisors LLC: Regulatory assets under management: $46,028,809,009 in the October 2021 data and $124,304,284,578 in the October 2026 data, up 170%. Total employees: 522 in October 2021 and 1,087 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does GC Opal Advisors LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (85); state or municipal government entities (including government pension plans) (1); other investment advisers (1)."
    },
    {
      "q": "Which custodians does GC Opal Advisors LLC use?",
      "a": "GC Opal Advisors LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust Company and Wells Fargo Bank, National Association as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does GC Opal Advisors LLC report any disciplinary disclosures?",
      "a": "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/289425"
    },
    {
      "q": "What changed in GC Opal Advisors LLC's recent Form ADV filings?",
      "a": "In the July 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 46028809009.0,
      "total_employees": 522,
      "filing_date": "2021-08-27"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 74994412974.0,
      "total_employees": 598,
      "filing_date": "2022-08-29"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 93642259592.0,
      "total_employees": 771,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 104127115218.0,
      "total_employees": 884,
      "filing_date": "2024-03-30"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 118273982404.0,
      "total_employees": 988,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 124304284578.0,
      "total_employees": 1087,
      "filing_date": "2026-08-28"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-07-01",
      "period_label": "July 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-06-01",
      "period_label": "June 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 290 to 306.",
        "Changed its office addresses in London.",
        "Changed its office addresses in St. Thomas, VI.",
        "Added an office in Dallas, TX.",
        "Registered or notice-filed in CT, FL, TX.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Northern Trust Company",
      "name_as_filed": "NORTHERN TRUST COMPANY",
      "affiliated": false
    },
    {
      "name": "Wells Fargo Bank, National Association",
      "name_as_filed": "WELLS FARGO BANK, NATIONAL ASSOCIATION",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/gc-opal-advisors-llc-chicago-il-289425.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 85,
      "fewer_than_5": false,
      "raum": 123531567099.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 1,
      "fewer_than_5": true,
      "raum": 272717479.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 1,
      "fewer_than_5": true,
      "raum": 500000000.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/289425",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}