# Heitman Capital Management LLC

> Heitman Capital Management LLC is an SEC-registered investment advisory firm in Chicago, IL, registered since 1980, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 105480
- Filed as: HEITMAN CAPITAL MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105480
- AdvisorCensus page: https://advisorcensus.com/firm/heitman-capital-management-llc-chicago-il-105480

## Quick answers

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

**Where is Heitman Capital Management LLC located?**
Heitman Capital Management LLC's principal office is in Chicago, IL, according to its Form ADV; the April 2026 filing also lists 9 other offices (Schedule D, Section 1.F).

**Is Heitman Capital Management LLC registered with the SEC or a state?**
Heitman Capital Management LLC is an SEC-registered investment advisory firm, registered since 1980. Status as filed: Approved. CRD 105480.

**How much does Heitman Capital Management LLC manage?**
Heitman Capital Management LLC reports $6,086,474,489 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (85% discretionary).

**How have Heitman Capital Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Heitman Capital Management LLC: Regulatory assets under management: $5,208,031,495 in the October 2021 data and $6,086,474,489 in the October 2026 data, up 17%. Total employees: 253 in October 2021 and 280 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Heitman Capital Management LLC serve?**
By number of clients on Form ADV Item 5.D: state or municipal government entities (including government pension plans) (12); pooled investment vehicles (other than investment companies and business development companies) (10); corporations or other businesses not listed above (3).

**Does Heitman 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/105480

**What changed in Heitman Capital Management LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 186 to 184. Regulatory assets under management went from $8,394,583,035 to $6,086,474,489 (-27%). Changed its office addresses in Luxembourg. Changed its office addresses in New York, NY. Added an office in Los Angeles, CA. No longer lists an office in Santa Monica, CA. 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: $6,086,474,489
- Discretionary: $5,172,024,728
- Non-discretionary: $914,449,761

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Banking or thrift institutions | 1 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 10 | $4,888,240,736 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 2 | Not reported |
| State or municipal government entities (including government pension plans) | 12 | $541,835,499 |
| Sovereign wealth funds and foreign official institutions | 1 | $621,618,351 |
| Corporations or other businesses not listed above | 3 | $34,779,903 |

### 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: 1980 (46 years)
- Employees: 280 total, 184 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, IL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Central
- Chiyoda-Ku Tokyo
- Frankfurt
- Jung-Gu, Seoul
- London
- Los Angeles, CA
- Luxembourg
- Melbourne
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- heitman.com
- LinkedIn @heitman

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $5,208,031,495 | 253 | July 27, 2021 |
| October 2022 | $7,344,587,721 | 263 | May 19, 2022 |
| October 2023 | $7,970,492,559 | 280 | April 24, 2023 |
| October 2024 | $8,597,401,634 | 294 | March 27, 2024 |
| October 2025 | $8,394,583,035 | 284 | March 27, 2025 |
| October 2026 | $6,086,474,489 | 280 | March 27, 2026 |

Regulatory assets under management: $5,208,031,495 in the October 2021 data and $6,086,474,489 in the October 2026 data, up 17%.
Total employees: 253 in October 2021 and 280 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 186 to 184.
- Regulatory assets under management went from $8,394,583,035 to $6,086,474,489 (-27%).
- Changed its office addresses in Luxembourg.
- Changed its office addresses in New York, NY.
- Added an office in Los Angeles, CA.
- No longer lists an office in Santa Monica, CA.
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Changed its office addresses in Frankfurt.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Heitman Capital Management LLC (CRD 105480): Form ADV filing data as of October 2026.