# Mangrove Partners

> Mangrove Partners is an SEC-registered investment advisory firm in Greenwich, CT, registered since 2013, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 162296
- Filed as: MANGROVE PARTNERS
- Legal name: Mangrove Partners IM, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Greenwich, CT
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/162296
- AdvisorCensus page: https://advisorcensus.com/firm/mangrove-partners-greenwich-ct-162296

## Quick answers

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

**What does Mangrove Partners' brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 2% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Mangrove Partners located?**
Mangrove Partners' principal office is in Greenwich, CT, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Mangrove Partners registered with the SEC or a state?**
Mangrove Partners is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 162296.

**How much does Mangrove Partners manage?**
Mangrove Partners reports $2,705,898,893 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Mangrove Partners' assets and staff changed since 2021?**
In the Form ADV data for Mangrove Partners: Regulatory assets under management: $1,540,608,474 in the October 2021 data and $2,705,898,893 in the October 2026 data, up 76%. Total employees: 12 in October 2021 and 19 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Mangrove Partners serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (3).

**Which custodians does Mangrove Partners use?**
Mangrove Partners' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists HSBC Private Banking as a custodian holding 10% or more of its separately managed account assets.

**Does Mangrove Partners report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/162296

**What changed in Mangrove Partners' recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $2,075,413,593 to $2,705,898,893 (+30%).

## 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 31, 2026)

- Asset-based fee: 2% of assets a year

> The Adviser receives fees for its advisory services based on a percentage (generally, approximately 2% annually) of assets under management.

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

### Custodians (Schedule D, Section 5.K(3))
- HSBC Private Banking

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $2,705,898,893
- Discretionary: $2,705,898,893
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $2,676,859,987 |
| Insurance companies | Fewer than 5 | $29,038,906 |

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

### Firm details
- Registered since: 2013 (13 years)
- Employees: 19 total, 10 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CT, FL
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/162296

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Coral Gables, FL

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,540,608,474 | 12 | March 31, 2021 |
| October 2022 | $1,961,372,584 | 14 | June 30, 2022 |
| October 2023 | $2,037,638,184 | 14 | September 22, 2023 |
| October 2024 | $2,447,494,952 | 16 | March 28, 2024 |
| October 2025 | $2,075,413,593 | 19 | March 31, 2025 |
| October 2026 | $2,705,898,893 | 19 | March 31, 2026 |

Regulatory assets under management: $1,540,608,474 in the October 2021 data and $2,705,898,893 in the October 2026 data, up 76%.
Total employees: 12 in October 2021 and 19 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $2,075,413,593 to $2,705,898,893 (+30%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Mangrove Partners (CRD 162296): Form ADV filing data as of October 2026.