# HPE Capital Management II, LLC

> HPE Capital Management II, LLC is an SEC-registered investment advisory firm in Cincinnati, OH, registered since 2019, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated September 17, 2026.

- CRD: 283607
- Filed as: HPE CAPITAL MANAGEMENT II, LLC
- Also doing business as: HAUSER PRIVATE EQUITY
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Cincinnati, OH
- Filing period: October 2026
- Form ADV filing dated: September 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/283607
- AdvisorCensus page: https://advisorcensus.com/firm/hpe-capital-management-ii-llc-cincinnati-oh-283607

## Quick answers

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

**Where is HPE Capital Management II, LLC located?**
HPE Capital Management II, LLC's principal office is in Cincinnati, OH, according to its Form ADV; the October 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is HPE Capital Management II, LLC registered with the SEC or a state?**
HPE Capital Management II, LLC is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 283607.

**How much does HPE Capital Management II, LLC manage?**
HPE Capital Management II, LLC reports $840,468,397 in regulatory assets under management in its Form ADV filing dated September 17, 2026 (100% discretionary).

**How have HPE Capital Management II, LLC's assets and staff changed since 2021?**
In the Form ADV data for HPE Capital Management II, LLC: Regulatory assets under management: $300,293,826 in the October 2021 data and $840,468,397 in the October 2026 data, up 180%. Total employees: 4 in October 2021 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does HPE Capital Management II, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5).

**Does HPE Capital Management II, LLC report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.A(1) (felony conviction or plea in the past ten years) and 11.A(2) (felony charge in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/283607

**Does HPE Capital Management II, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated May 7, 2026 says: "Typically, the Firm will require a minimum investment of $1,000,000, although, the Firm maintains discretion to individually waive, increase or reduce the minimum investment required."

**What changed in HPE Capital Management II, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 4 to 5. Regulatory assets under management went from $600,317,271 to $840,468,397 (+40%). Changed its office addresses in Chicago, IL. Registered or notice-filed in IL, OH. 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

### Fees and minimums (Form ADV Part 2A brochure dated May 7, 2026)

- Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)

> Typically, the Firm will require a minimum investment of $1,000,000, although, the Firm maintains discretion to individually waive, increase or reduce the minimum investment required.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $840,468,397
- Discretionary: $840,468,397
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $840,468,397 |

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

### Firm details
- Registered since: 2019 (7 years)
- Employees: 6 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, DC, IL, OH
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.A(1): In the past ten years, has the firm or an advisory affiliate been convicted of, or pleaded guilty or no contest to, a felony?
- 11.A(2): In the past ten years, has the firm or an advisory affiliate been charged with a felony?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/283607

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Chicago, IL
- Santa Monica, CA

### Websites listed on Form ADV (Item 1.I)
- hauserprivateequity.com
- LinkedIn @hauser-private-equity

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $300,293,826 | 4 | March 31, 2021 |
| October 2022 | $387,145,939 | 4 | March 29, 2022 |
| October 2023 | $355,641,778 | 4 | March 28, 2023 |
| October 2024 | $455,700,169 | 4 | March 22, 2024 |
| October 2025 | $600,317,271 | 4 | July 7, 2025 |
| October 2026 | $840,468,397 | 6 | September 17, 2026 |

Regulatory assets under management: $300,293,826 in the October 2021 data and $840,468,397 in the October 2026 data, up 180%.
Total employees: 4 in October 2021 and 6 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 4 to 5.
- Regulatory assets under management went from $600,317,271 to $840,468,397 (+40%).
- Changed its office addresses in Chicago, IL.
- Registered or notice-filed in IL, OH.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. HPE Capital Management II, LLC (CRD 283607): Form ADV filing data as of October 2026.