# North Reef Capital Management LP

> North Reef Capital Management LP is an SEC-registered investment advisory firm in Laguna Beach, CA, registered since 2022, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 311056
- Filed as: NORTH REEF CAPITAL MANAGEMENT LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Laguna Beach, CA
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/311056
- AdvisorCensus page: https://advisorcensus.com/firm/north-reef-capital-management-lp-laguna-beach-ca-311056

## Quick answers

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

**Where is North Reef Capital Management LP located?**
North Reef Capital Management LP's principal office is in Laguna Beach, CA, according to its Form ADV.

**Is North Reef Capital Management LP registered with the SEC or a state?**
North Reef Capital Management LP is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 311056.

**How much does North Reef Capital Management LP manage?**
North Reef Capital Management LP reports $4,141,234,742 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have North Reef Capital Management LP's assets and staff changed since 2021?**
In the Form ADV data for North Reef Capital Management LP: Regulatory assets under management: $766,192,713 in the October 2022 data and $4,141,234,742 in the October 2026 data, up 440%. Total employees: 4 in October 2022 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does North Reef Capital Management LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (9); investment companies (1).

**Does North Reef Capital Management LP 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/311056

## 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: $4,141,234,742
- Discretionary: $4,141,234,742
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 1 | $298,336,373 |
| Pooled investment vehicles (other than investment companies and business development companies) | 9 | $3,842,898,369 |

### 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: 2022 (4 years)
- Employees: 8 total, 3 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- northreefcapital.com
- LinkedIn @north-reef-capital

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | Not reported | Not reported | February 24, 2021 |
| October 2022 | $766,192,713 | 4 | June 27, 2022 |
| October 2023 | $1,942,739,809 | 3 | August 9, 2023 |
| October 2024 | $3,316,789,349 | 6 | April 24, 2024 |
| October 2025 | $3,873,527,000 | 7 | May 21, 2025 |
| October 2026 | $4,141,234,742 | 8 | March 30, 2026 |

Regulatory assets under management: $766,192,713 in the October 2022 data and $4,141,234,742 in the October 2026 data, up 440%.
Total employees: 4 in October 2022 and 8 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. North Reef Capital Management LP (CRD 311056): Form ADV filing data as of October 2026.