# Msress III Manager, L.L.C.

> Msress III Manager, L.L.C. is an SEC-registered investment advisory firm in New York, NY, registered since 2006, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated March 26, 2026.

- CRD: 138602
- Filed as: MSRESS III MANAGER, L.L.C.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/138602
- AdvisorCensus page: https://advisorcensus.com/firm/msress-iii-manager-l-l-c-new-york-ny-138602

## Quick answers

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

**Where is Msress III Manager, L.L.C. located?**
Msress III Manager, L.L.C.'s principal office is in New York, NY, according to its Form ADV; the April 2026 filing also lists 16 other offices (Schedule D, Section 1.F).

**Is Msress III Manager, L.L.C. registered with the SEC or a state?**
Msress III Manager, L.L.C. is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 138602.

**How much does Msress III Manager, L.L.C. manage?**
Msress III Manager, L.L.C. reports $39,607,295 in regulatory assets under management in its Form ADV filing dated March 26, 2026 (100% discretionary).

**How have Msress III Manager, L.L.C.'s assets and staff changed since 2021?**
In the Form ADV data for Msress III Manager, L.L.C.: Regulatory assets under management: $222,964,000 in the October 2021 data and $39,607,295 in the October 2026 data, down 82%. Total employees: 258 in October 2021 and 372 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Msress III Manager, L.L.C. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (1).

**Does Msress III Manager, L.L.C. report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.D(1) (another regulator's finding of a false statement or omission, or of dishonest, unfair, or unethical conduct), 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/138602

**What changed in Msress III Manager, L.L.C.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 171 to 170. Changed its office addresses in Atlanta, GA. Changed its office addresses in Chicago, IL. Changed its office addresses in Los Angeles, CA. Changed its office addresses in Milan. Changed its office addresses in Singapore. Added an office in West Kowloon. No longer lists an office in Kowloon. 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

### Regulatory assets under management (Item 5.F)
- Total: $39,607,295
- Discretionary: $39,607,295
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $39,607,295 |

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

### Firm details
- Registered since: 2006 (20 years)
- Employees: 372 total, 170 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: GA
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(1): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?
- 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/138602

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Atlanta, GA
- Chicago, IL
- Frankfurt
- London
- Los Angeles, CA
- Madrid
- Milan
- Mumbai
- Paris
- San Francisco, CA
- Seoul
- Shanghai
- Singapore
- Sydney
- Tokyo
- West Kowloon

### Websites listed on Form ADV (Item 1.I)
- morganstanley.com/IM
- morganstanley.com/im/en-us/institutional-investor/capabilities/alternatives/real-assets.html

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $222,964,000 | 258 | March 31, 2021 |
| October 2022 | $189,412,000 | 265 | March 30, 2022 |
| October 2023 | $67,220,000 | 347 | March 31, 2023 |
| October 2024 | $48,147,573 | 360 | March 28, 2024 |
| October 2025 | $40,676,657 | 289 | March 26, 2025 |
| October 2026 | $39,607,295 | 372 | March 26, 2026 |

Regulatory assets under management: $222,964,000 in the October 2021 data and $39,607,295 in the October 2026 data, down 82%.
Total employees: 258 in October 2021 and 372 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 171 to 170.
- Changed its office addresses in Atlanta, GA.
- Changed its office addresses in Chicago, IL.
- Changed its office addresses in Los Angeles, CA.
- Changed its office addresses in Milan.
- Changed its office addresses in Singapore.
- Added an office in West Kowloon.
- No longer lists an office in Kowloon.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Msress III Manager, L.L.C. (CRD 138602): Form ADV filing data as of October 2026.