# Lago Asset Management

> 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.

- CRD: 305631
- Filed as: LAGO ASSET MANAGEMENT
- Legal name: Lago Asset Management, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/305631
- AdvisorCensus page: https://advisorcensus.com/firm/lago-asset-management-chicago-il-305631

## Quick answers

**How 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

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 25, 2026)

- Account minimum: $250,000 (the brochure says it may be waived or negotiated)

> 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 brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $604,879,664
- Discretionary: $604,879,664
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Business development companies | 1 | $190,881,044 |
| Pooled investment vehicles (other than investment companies and business development companies) | 12 | $413,998,620 |

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

### Firm details
- Registered since: 2022 (4 years)
- Employees: 15 total, 14 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: GA, IL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- lagoinnovation.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | Not reported | Not reported | April 30, 2021 |
| October 2022 | $164,789,826 | 10 | July 22, 2022 |
| October 2023 | $316,569,697 | 10 | August 29, 2023 |
| October 2024 | $380,584,054 | 10 | April 28, 2024 |
| October 2025 | $457,253,948 | 16 | April 21, 2025 |
| October 2026 | $604,879,664 | 15 | March 25, 2026 |

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.

## 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%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lago Asset Management (CRD 305631): Form ADV filing data as of October 2026.