AdvisorCensus / Financial advisors / Illinois / Chicago / Lago Asset Management
Lago Asset Management
Filed as LAGO ASSET MANAGEMENT · Legal name Lago Asset Management, LLC
Lago Asset Management is an SEC-registered investment advisory firm in Chicago, IL, registered since 2022, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 25, 2026.
Quick answers
From the filingHow is Lago Asset Management compensated?
On its Form ADV (Item 5.E, October 2026), Lago Asset Management reports these compensation arrangements: a percentage of assets under its management; performance-based fees.
Where is Lago Asset Management located?
Lago Asset Management's principal office is in Chicago, IL, according to its Form ADV.
Is Lago Asset Management registered with the SEC or a state?
Lago Asset Management is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 305631.
How much does Lago Asset Management manage?
Lago Asset Management reports $604,879,664 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary).
How have Lago Asset Management's assets and staff changed since 2021?
In the Form ADV data for Lago Asset Management: Regulatory assets under management: $164,789,826 in the October 2022 data and $604,879,664 in the October 2026 data, up 267%. Total employees: 10 in October 2022 and 15 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Lago Asset Management serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (12); business development companies (1).
Does Lago Asset Management 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/305631
Does Lago Asset Management state an account minimum?
Its Form ADV Part 2A brochure dated March 25, 2026 says: "The minimum investment requirement for the Funds is typically $250,000. However, the Fund Manager of each Fund, in its sole discretion, may permit investments that are less than the required minimum investment commitment set forth in the applicable Fund’s offering documents."
What changed in Lago Asset Management's recent Form ADV filings?
In the April 2026 filing data: Employees performing advisory functions went from 15 to 14. Regulatory assets under management went from $457,253,948 to $604,879,664 (+32%).
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- A percentage of assets under your management
- Performance-based fees
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 2AThe brochure lists different fees for different services or strategies; see the brochure for them.
Account minimum: $250,000 (the brochure says it may be waived or negotiated)
The brochure's wording
The minimum investment requirement for the Funds is typically $250,000. However, the Fund Manager of each Fund, in its sole discretion, may permit investments that are less than the required minimum investment commitment set forth in the applicable Fund’s offering documents.
As stated in the firm's Form ADV Part 2A brochure dated March 25, 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$604,879,664 as of October 2026, filing dated March 25, 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 investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
Registration and firm details
Items 1, 2, 5- Legal name
- Lago Asset Management, LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2022 (4 years)
- Employees
- Total: 15. Performing investment advisory functions: 14.
- Wrap fee program participation
- No.
- States registered or notice-filed
-
2 states or jurisdictions
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 | $604,879,664 | 15 | March 25, 2026 |
| October 2025 | $457,253,948 | 16 | April 21, 2025 |
| October 2024 | $380,584,054 | 10 | April 28, 2024 |
| October 2023 | $316,569,697 | 10 | August 29, 2023 |
| October 2022 | $164,789,826 | 10 | July 22, 2022 |
| October 2021 | Not reported | Not reported | April 30, 2021 |
Regulatory assets under management: $164,789,826 in the October 2022 data and $604,879,664 in the October 2026 data, up 267%.
Total employees: 10 in October 2022 and 15 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
- Employees performing advisory functions went from 15 to 14.
- Regulatory assets under management went from $457,253,948 to $604,879,664 (+32%).
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. Lago Asset Management (CRD 305631): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/lago-asset-management-chicago-il-305631