AdvisorCensus / Financial advisors / Illinois / Chicago / Klaff Realty, LP
Klaff Realty, LP is an SEC-registered investment advisory firm in Chicago, IL, registered since 2015, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.
Quick answers
From the filingHow is Klaff Realty, LP compensated?
On its Form ADV (Item 5.E, October 2026), Klaff Realty, LP reports these compensation arrangements: fixed fees (other than subscription fees); performance-based fees; other.
What does Klaff Realty, LP's brochure say about its fees?
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 1% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Klaff Realty, LP located?
Klaff Realty, LP's principal office is in Chicago, IL, according to its Form ADV.
Is Klaff Realty, LP registered with the SEC or a state?
Klaff Realty, LP is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 265787.
How much does Klaff Realty, LP manage?
Klaff Realty, LP reports $275,028,763 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).
How have Klaff Realty, LP's assets and staff changed since 2021?
In the Form ADV data for Klaff Realty, LP: Regulatory assets under management: $1,214,276,732 in the October 2021 data and $275,028,763 in the October 2026 data, down 77%. Total employees: 15 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Klaff Realty, LP serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (8).
Does Klaff Realty, LP 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/265787
What changed in Klaff Realty, LP's recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $159,635,008 to $275,028,763 (+72%).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- Fixed fees (other than subscription fees)
- Performance-based fees
- Other
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAsset-based fee: 1% to 1.5% a year (a range, as the brochure states it)
The brochure's wording
The Management Fee generally ranges from 1% to 1.5% but may be negotiated lower for certain investors based on the size of the investor’s commitment to the Fund.
As stated in the firm's Form ADV Part 2A brochure dated March 31, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$275,028,763 as of October 2026, filing dated March 31, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for pooled investment vehicles (other than investment companies)
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2015 (10 years)
- Employees
- Total: 10. Performing investment advisory functions: 2.
- Wrap fee program participation
- No.
- States registered or notice-filed
-
1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $275,028,763 | 10 | March 31, 2026 |
| October 2025 | $159,635,008 | 10 | March 31, 2025 |
| October 2024 | $202,948,664 | 12 | July 3, 2024 |
| October 2023 | $232,770,042 | 14 | September 6, 2023 |
| October 2022 | $1,965,568,031 | 14 | March 30, 2022 |
| October 2021 | $1,214,276,732 | 15 | March 30, 2021 |
Regulatory assets under management: $1,214,276,732 in the October 2021 data and $275,028,763 in the October 2026 data, down 77%.
Total employees: 15 in October 2021 and 10 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Regulatory assets under management went from $159,635,008 to $275,028,763 (+72%).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Klaff Realty, LP (CRD 265787): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/klaff-realty-lp-chicago-il-265787