{
  "crd_number": 305631,
  "slug": "lago-asset-management-chicago-il-305631",
  "primary_business_name": "LAGO ASSET MANAGEMENT",
  "legal_name": "LAGO ASSET MANAGEMENT, LLC",
  "dbas": [],
  "city": "Chicago",
  "state": "IL",
  "country": "United States",
  "cbsa_code": "16980",
  "metro": {
    "cbsa_code": "16980",
    "common_name": "Chicago",
    "msa_name": "Chicago-Naperville-Elgin, IL-IN",
    "path": "/advisors/il/chicago"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2022-07-29",
  "years_registered": 4,
  "period": "2026-10-01",
  "filing_date": "2026-03-25",
  "carried_forward": false,
  "raum_total": 604879664.0,
  "raum_discretionary": 604879664.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 15,
  "advisory_employees": 14,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 413998620.0,
      "count": 12
    },
    "business_development_companies": {
      "raum": 190881044.0,
      "count": 1
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "GA",
    "IL"
  ],
  "websites": [
    "https://lagoinnovation.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/305631",
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/lago-asset-management-chicago-il-305631",
  "display_name": "Lago Asset Management",
  "summary": "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.",
  "citation": "AdvisorCensus. Lago Asset Management (CRD 305631): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Lago Asset Management compensated?",
      "a": "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."
    },
    {
      "q": "Where is Lago Asset Management located?",
      "a": "Lago Asset Management's principal office is in Chicago, IL, according to its Form ADV."
    },
    {
      "q": "Is Lago Asset Management registered with the SEC or a state?",
      "a": "Lago Asset Management is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 305631."
    },
    {
      "q": "How much does Lago Asset Management manage?",
      "a": "Lago Asset Management reports $604,879,664 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary)."
    },
    {
      "q": "How have Lago Asset Management's assets and staff changed since 2021?",
      "a": "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."
    },
    {
      "q": "What types of clients does Lago Asset Management serve?",
      "a": "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)."
    },
    {
      "q": "Does Lago Asset Management 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/305631"
    },
    {
      "q": "Does Lago Asset Management state an account minimum?",
      "a": "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.\""
    },
    {
      "q": "What changed in Lago Asset Management's recent Form ADV filings?",
      "a": "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%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": null,
      "total_employees": null,
      "filing_date": "2021-04-30"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 164789826.0,
      "total_employees": 10,
      "filing_date": "2022-07-22"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 316569697.0,
      "total_employees": 10,
      "filing_date": "2023-08-29"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 380584054.0,
      "total_employees": 10,
      "filing_date": "2024-04-28"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 457253948.0,
      "total_employees": 16,
      "filing_date": "2025-04-21"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 604879664.0,
      "total_employees": 15,
      "filing_date": "2026-03-25"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 15 to 14.",
        "Regulatory assets under management went from $457,253,948 to $604,879,664 (+32%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 25, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$250,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $250,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "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."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 250000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "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."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/lago-asset-management-chicago-il-305631.md",
  "clients": [
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 190881044.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 12,
      "fewer_than_5": false,
      "raum": 413998620.0
    }
  ],
  "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/305631",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}