AdvisorCensus / Financial advisors / Pennsylvania / Philadelphia / Lubert-Adler Management Company, L.P.
Lubert-Adler Management Company, L.P.
Filed as LUBERT-ADLER MANAGEMENT COMPANY, L.P.
Lubert-Adler Management Company, L.P. is an SEC-registered investment advisory firm in Philadelphia, PA, registered since 2010, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated July 13, 2026.
Quick answers
From the filingHow is Lubert-Adler Management Company, L.P. compensated?
On its Form ADV (Item 5.E, October 2026), Lubert-Adler Management Company, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other.
What does Lubert-Adler Management Company, L.P.'s brochure say about its fees?
Its Form ADV Part 2A brochure dated July 13, 2026 states: Asset-based fee: 0.5% to 2% 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 Lubert-Adler Management Company, L.P. located?
Lubert-Adler Management Company, L.P.'s principal office is in Philadelphia, PA, according to its Form ADV; the August 2026 filing also lists 3 other offices (Schedule D, Section 1.F).
Is Lubert-Adler Management Company, L.P. registered with the SEC or a state?
Lubert-Adler Management Company, L.P. is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 155201.
How much does Lubert-Adler Management Company, L.P. manage?
Lubert-Adler Management Company, L.P. reports $2,814,795,537 in regulatory assets under management in its Form ADV filing dated July 13, 2026 (89% discretionary).
How have Lubert-Adler Management Company, L.P.'s assets and staff changed since 2021?
In the Form ADV data for Lubert-Adler Management Company, L.P.: Regulatory assets under management: $3,449,064,097 in the October 2021 data and $2,814,795,537 in the October 2026 data, down 18%. Total employees: 28 in October 2021 and 24 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Lubert-Adler Management Company, L.P. serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (27).
Does Lubert-Adler Management Company, L.P. 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/155201
Does Lubert-Adler Management Company, L.P. state an account minimum?
Its Form ADV Part 2A brochure dated July 13, 2026 says: "The Funds’ Offering Documents generally require a minimum initial investment or commitment by each investor of $1 million. However, each Fund’s general partner has the discretion to waive or reduce the minimum initial investment or commitment and has done so for certain investors and has done so regularly."
What changed in Lubert-Adler Management Company, L.P.'s recent Form ADV filings?
In the August 2026 filing data: Updated its list of owners and control persons (Schedule A).
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
- 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: 0.5% to 2% a year (a range, as the brochure states it)
The brochure's wording
The Management Fee generally ranges from 0.5% to 2% but may be negotiated lower by certain investors based on the size of the investor’s commitment to the Fund, or if there is an extension of the Fund’s term.
Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)
The brochure's wording
The Funds’ Offering Documents generally require a minimum initial investment or commitment by each investor of $1 million. However, each Fund’s general partner has the discretion to waive or reduce the minimum initial investment or commitment and has done so for certain investors and has done so regularly.
As stated in the firm's Form ADV Part 2A brochure dated July 13, 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$2,814,795,537 as of October 2026, filing dated July 13, 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- Also doing business as
- ADLER & CO. (DBA), L-A ASSET MANAGEMENT SERVICES, L.P. (RELYING ADVISER), L-A PARTNERS (DBA), L-A URBAN FINANCIAL MANAGEMENT, L.P. (RELYING ADVISER), LAA CREDIT MANAGEMENT, L.P. (RELYING ADVISER), LUBERT-ADLER MANAGEMENT, L.P. (RELYING ADVISER), LUBERT-ADLER PARTNERS (DBA), LUBERT-ADLER REAL ESTATE MANAGEMENT COMPANY, L.P. (RELYING ADVISER)
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2010 (15 years)
- Employees
- Total: 24. Performing investment advisory functions: 10.
- Wrap fee program participation
- No.
- Other offices (Schedule D, Section 1.F)
-
3 other offices, as of the August 2026 filing
- States registered or notice-filed
-
3 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 | $2,814,795,537 | 24 | July 13, 2026 |
| October 2025 | $2,981,216,377 | 40 | April 30, 2025 |
| October 2024 | $2,823,960,547 | 38 | September 3, 2024 |
| October 2023 | $3,098,569,561 | 35 | June 20, 2023 |
| October 2022 | $4,709,952,257 | 33 | April 29, 2022 |
| October 2021 | $3,449,064,097 | 28 | April 30, 2021 |
Regulatory assets under management: $3,449,064,097 in the October 2021 data and $2,814,795,537 in the October 2026 data, down 18%.
Total employees: 28 in October 2021 and 24 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- August 2026
- Updated its list of owners and control persons (Schedule A).
- May 2026
- Employees performing advisory functions went from 12 to 10.
- No longer lists an office in Philadelphia, PA.
- Updated its list of owners and control persons (Schedule A).
- April 2026
- Added the business name Adler & Co. (DBA).
- Employees performing advisory functions went from 29 to 12.
- Updated its list of owners and control persons (Schedule A).
- March 2026
- Updated its list of owners and control persons (Schedule A).
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. Lubert-Adler Management Company, L.P. (CRD 155201): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/lubert-adler-management-company-l-p-philadelphia-pa-155201