# Northgate Capital, L.P.

> Northgate Capital, L.P. is an SEC-registered investment advisory firm in Danville, CA, registered since 2006, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated July 10, 2026.

- CRD: 140214
- Filed as: NORTHGATE CAPITAL, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Danville, CA
- Filing period: October 2026
- Form ADV filing dated: July 10, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/140214
- AdvisorCensus page: https://advisorcensus.com/firm/northgate-capital-l-p-danville-ca-140214

## Quick answers

**How is Northgate Capital, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Northgate Capital, L.P. 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 Northgate Capital, L.P. located?**
Northgate Capital, L.P.'s principal office is in Danville, CA, according to its Form ADV; the August 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Northgate Capital, L.P. registered with the SEC or a state?**
Northgate Capital, L.P. is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 140214.

**How much does Northgate Capital, L.P. manage?**
Northgate Capital, L.P. reports $2,929,899,129 in regulatory assets under management in its Form ADV filing dated July 10, 2026 (100% discretionary).

**How have Northgate Capital, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Northgate Capital, L.P.: Regulatory assets under management: $4,753,022,942 in the October 2021 data and $2,929,899,129 in the October 2026 data, down 38%. Total employees: 39 in October 2021 and 27 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Northgate Capital, L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (67).

**Does Northgate Capital, L.P. 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/140214

**What changed in Northgate Capital, L.P.'s recent Form ADV filings?**
In the August 2026 filing data: 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: $2,929,899,129
- Discretionary: $2,929,899,129
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 67 | $2,929,899,129 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

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

### Firm details
- Registered since: 2006 (19 years)
- Employees: 27 total, 9 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.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Mexico City

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,753,022,942 | 39 | March 30, 2021 |
| October 2022 | $6,336,241,624 | 42 | March 31, 2022 |
| October 2023 | $4,818,928,720 | 40 | May 12, 2023 |
| October 2024 | $4,144,865,180 | 36 | March 28, 2024 |
| October 2025 | $4,045,094,384 | 30 | April 3, 2025 |
| October 2026 | $2,929,899,129 | 27 | July 10, 2026 |

Regulatory assets under management: $4,753,022,942 in the October 2021 data and $2,929,899,129 in the October 2026 data, down 38%.
Total employees: 39 in October 2021 and 27 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 12 to 9.
- Regulatory assets under management went from $4,045,094,384 to $2,929,899,129 (-28%).
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Northgate Capital, L.P. (CRD 140214): Form ADV filing data as of October 2026.