{
  "crd_number": 149929,
  "slug": "impact-investment-adviser-llc-san-francisco-ca-149929",
  "primary_business_name": "IMPACT INVESTMENT ADVISER LLC",
  "legal_name": "IMPACT INVESTMENT ADVISER LLC",
  "dbas": [],
  "city": "San Francisco",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "41860",
  "metro": {
    "cbsa_code": "41860",
    "common_name": "San Francisco",
    "msa_name": "San Francisco-Oakland-Fremont, CA",
    "path": "/advisors/ca/san-francisco"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2009-05-15",
  "years_registered": 17,
  "period": "2026-10-01",
  "filing_date": "2026-03-13",
  "carried_forward": false,
  "raum_total": 558516416.0,
  "raum_discretionary": 558516416.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 16,
  "advisory_employees": 8,
  "client_count_bucket": null,
  "clients_by_type": {
    "insurance_companies": {
      "raum": 11986090.0,
      "count": 5
    },
    "pooled_investment_vehicles": {
      "raum": 546530326.0,
      "count": 5
    }
  },
  "compensation_types": [
    "fixed",
    "other",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA"
  ],
  "websites": [
    "https://impactcapital.net",
    "https://linkedin.com/company/impactcomcap"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/149929",
  "city_as_filed": "SAN FRANCISCO",
  "url": "https://advisorcensus.com/firm/impact-investment-adviser-llc-san-francisco-ca-149929",
  "display_name": "Impact Investment Adviser LLC",
  "summary": "Impact Investment Adviser LLC is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2009, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 13, 2026.",
  "citation": "AdvisorCensus. Impact Investment Adviser LLC (CRD 149929): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Fixed fees (other than subscription 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 Impact Investment Adviser LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Impact Investment Adviser LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); other. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Impact Investment Adviser LLC located?",
      "a": "Impact Investment Adviser LLC's principal office is in San Francisco, CA, according to its Form ADV."
    },
    {
      "q": "Is Impact Investment Adviser LLC registered with the SEC or a state?",
      "a": "Impact Investment Adviser LLC is an SEC-registered investment advisory firm, registered since 2009. Status as filed: Approved. CRD 149929."
    },
    {
      "q": "How much does Impact Investment Adviser LLC manage?",
      "a": "Impact Investment Adviser LLC reports $558,516,416 in regulatory assets under management in its Form ADV filing dated March 13, 2026 (100% discretionary)."
    },
    {
      "q": "How have Impact Investment Adviser LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Impact Investment Adviser LLC: Regulatory assets under management: $307,341,390 in the October 2021 data and $558,516,416 in the October 2026 data, up 82%. Total employees: 11 in October 2021 and 16 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Impact Investment Adviser LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5); insurance companies (5)."
    },
    {
      "q": "Does Impact Investment Adviser 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/149929"
    },
    {
      "q": "What changed in Impact Investment Adviser LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 9 to 8. Regulatory assets under management went from $741,941,129 to $558,516,416 (-25%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 307341390.0,
      "total_employees": 11,
      "filing_date": "2021-03-29"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 417015588.0,
      "total_employees": 11,
      "filing_date": "2022-03-29"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 486114171.0,
      "total_employees": 15,
      "filing_date": "2023-03-28"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 612182639.0,
      "total_employees": 15,
      "filing_date": "2024-03-26"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 741941129.0,
      "total_employees": 17,
      "filing_date": "2025-03-27"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 558516416.0,
      "total_employees": 16,
      "filing_date": "2026-03-13"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 9 to 8.",
        "Regulatory assets under management went from $741,941,129 to $558,516,416 (-25%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/impact-investment-adviser-llc-san-francisco-ca-149929.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 5,
      "fewer_than_5": false,
      "raum": 546530326.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 5,
      "fewer_than_5": false,
      "raum": 11986090.0
    }
  ],
  "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/149929",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}