# North Run Capital, LP

> North Run Capital, LP is an SEC-registered investment advisory firm in Boston, MA, registered since 2026, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated July 7, 2026.

- CRD: 157922
- Filed as: NORTH RUN CAPITAL, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: July 7, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/157922
- AdvisorCensus page: https://advisorcensus.com/firm/north-run-capital-lp-boston-ma-157922

## Quick answers

**How is North Run Capital, LP compensated?**
On its Form ADV (Item 5.E, October 2026), North Run Capital, LP 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 North Run Capital, LP located?**
North Run Capital, LP's principal office is in Boston, MA, according to its Form ADV.

**Is North Run Capital, LP registered with the SEC or a state?**
North Run Capital, LP is an SEC-registered investment advisory firm, registered since 2026. Status as filed: Approved. CRD 157922.

**How much does North Run Capital, LP manage?**
North Run Capital, LP reports $334,540,005 in regulatory assets under management in its Form ADV filing dated July 7, 2026 (100% discretionary).

**How have North Run Capital, LP's assets and staff changed since 2021?**
In the Form ADV data for North Run Capital, LP: Regulatory assets under management: $204,100,000 in the October 2021 data and $334,540,005 in the October 2026 data, up 64%. Total employees: 6 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does North Run Capital, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (4).

**Does North Run Capital, 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/157922

## 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: $334,540,005
- Discretionary: $334,540,005
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 4 | $334,540,005 |

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

### Firm details
- Registered since: 2026 (0 years)
- Employees: 4 total, 3 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $204,100,000 | 6 | March 11, 2021 |
| October 2022 | Not reported | Not reported | April 6, 2022 |
| October 2023 | Not reported | Not reported | March 23, 2023 |
| October 2024 | Not reported | Not reported | March 21, 2024 |
| October 2025 | Not reported | Not reported | March 26, 2025 |
| October 2026 | $334,540,005 | 4 | July 7, 2026 |

Regulatory assets under management: $204,100,000 in the October 2021 data and $334,540,005 in the October 2026 data, up 64%.
Total employees: 6 in October 2021 and 4 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. North Run Capital, LP (CRD 157922): Form ADV filing data as of October 2026.