# Madison Dearborn Partners

> Madison Dearborn Partners is an SEC-registered investment advisory firm in Chicago, IL, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 157349
- Filed as: MADISON DEARBORN PARTNERS
- Legal name: Madison Dearborn Partners, LLC
- Also doing business as: MDP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/157349
- AdvisorCensus page: https://advisorcensus.com/firm/madison-dearborn-partners-chicago-il-157349

## Quick answers

**How is Madison Dearborn Partners compensated?**
On its Form ADV (Item 5.E, October 2026), Madison Dearborn Partners reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other.

**Where is Madison Dearborn Partners located?**
Madison Dearborn Partners' principal office is in Chicago, IL, according to its Form ADV.

**Is Madison Dearborn Partners registered with the SEC or a state?**
Madison Dearborn Partners is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 157349.

**How much does Madison Dearborn Partners manage?**
Madison Dearborn Partners reports $20,740,486,760 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Madison Dearborn Partners' assets and staff changed since 2021?**
In the Form ADV data for Madison Dearborn Partners: Regulatory assets under management: $18,074,239,255 in the October 2021 data and $20,740,486,760 in the October 2026 data, up 15%. Total employees: 74 in October 2021 and 73 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Madison Dearborn Partners serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (57).

**Does Madison Dearborn Partners 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/157349

**Does Madison Dearborn Partners state an account minimum?**
Its Form ADV Part 2A brochure dated March 31, 2026 says: "MDP does not have a minimum size for a Fund."

**What changed in Madison Dearborn Partners' recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 56 to 53. Regulatory assets under management went from $16,079,462,659 to $20,740,486,760 (+29%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Account minimum: None

> MDP does not have a minimum size for a Fund.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $20,740,486,760
- Discretionary: $20,740,486,760
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 57 | $20,740,486,760 |

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

### Firm details
- Registered since: 2012 (14 years)
- Employees: 73 total, 53 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- mdcp.com
- LinkedIn linkedin.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $18,074,239,255 | 74 | March 31, 2021 |
| October 2022 | $17,877,165,350 | 75 | March 31, 2022 |
| October 2023 | $15,623,117,519 | 85 | March 31, 2023 |
| October 2024 | $18,982,223,454 | 85 | March 29, 2024 |
| October 2025 | $16,079,462,659 | 77 | March 31, 2025 |
| October 2026 | $20,740,486,760 | 73 | March 31, 2026 |

Regulatory assets under management: $18,074,239,255 in the October 2021 data and $20,740,486,760 in the October 2026 data, up 15%.
Total employees: 74 in October 2021 and 73 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 56 to 53.
- Regulatory assets under management went from $16,079,462,659 to $20,740,486,760 (+29%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Madison Dearborn Partners (CRD 157349): Form ADV filing data as of October 2026.