# Main Street Capital Partners

> Main Street Capital Partners is an SEC-registered investment advisory firm in Houston, TX, registered since 2013, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated October 1, 2026.

- CRD: 169939
- Filed as: MAIN STREET CAPITAL PARTNERS
- Legal name: MSC Adviser I, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Houston, TX
- Filing period: October 2026
- Form ADV filing dated: October 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/169939
- AdvisorCensus page: https://advisorcensus.com/firm/main-street-capital-partners-houston-tx-169939

## Quick answers

**How is Main Street Capital Partners compensated?**
On its Form ADV (Item 5.E, October 2026), Main Street Capital Partners reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Main Street Capital Partners located?**
Main Street Capital Partners' principal office is in Houston, TX, according to its Form ADV.

**Is Main Street Capital Partners registered with the SEC or a state?**
Main Street Capital Partners is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 169939.

**How much does Main Street Capital Partners manage?**
Main Street Capital Partners reports $1,733,528,292 in regulatory assets under management in its Form ADV filing dated October 1, 2026 (100% discretionary).

**How have Main Street Capital Partners' assets and staff changed since 2021?**
In the Form ADV data for Main Street Capital Partners: Regulatory assets under management: $944,912,332 in the October 2021 data and $1,733,528,292 in the October 2026 data, up 83%. Total employees: 76 in October 2021 and 116 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Main Street Capital Partners serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2); business development companies (1).

**Does Main Street Capital 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/169939

**What changed in Main Street Capital Partners' recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 53 to 54. Regulatory assets under management went from $1,574,395,125 to $1,733,528,292 (+10%).

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $1,733,528,292
- Discretionary: $1,733,528,292
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 1 | $1,381,031,000 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $352,497,292 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | 0 | Not reported |

### 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: 2013 (12 years)
- Employees: 116 total, 54 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $944,912,332 | 76 | September 3, 2021 |
| October 2022 | $1,392,309,632 | 80 | March 31, 2022 |
| October 2023 | $1,400,157,805 | 91 | March 27, 2023 |
| October 2024 | $1,548,925,254 | 100 | July 5, 2024 |
| October 2025 | $1,574,395,125 | 109 | March 29, 2025 |
| October 2026 | $1,733,528,292 | 116 | October 1, 2026 |

Regulatory assets under management: $944,912,332 in the October 2021 data and $1,733,528,292 in the October 2026 data, up 83%.
Total employees: 76 in October 2021 and 116 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 53 to 54.
- Regulatory assets under management went from $1,574,395,125 to $1,733,528,292 (+10%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Main Street Capital Partners (CRD 169939): Form ADV filing data as of October 2026.