# Pathway Capital Management, LP

> Pathway Capital Management, LP is an SEC-registered investment advisory firm in Irvine, CA, registered since 1997, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated June 30, 2026.

- CRD: 108016
- Filed as: PATHWAY CAPITAL MANAGEMENT, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Irvine, CA
- Filing period: October 2026
- Form ADV filing dated: June 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/108016
- AdvisorCensus page: https://advisorcensus.com/firm/pathway-capital-management-lp-irvine-ca-108016

## Quick answers

**How is Pathway Capital Management, LP compensated?**
On its Form ADV (Item 5.E, October 2026), Pathway Capital Management, LP reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Pathway Capital Management, LP located?**
Pathway Capital Management, LP's principal office is in Irvine, CA, according to its Form ADV; the July 2026 filing also lists 4 other offices (Schedule D, Section 1.F).

**Is Pathway Capital Management, LP registered with the SEC or a state?**
Pathway Capital Management, LP is an SEC-registered investment advisory firm, registered since 1997. Status as filed: Approved. CRD 108016.

**How much does Pathway Capital Management, LP manage?**
Pathway Capital Management, LP reports $97,818,354,930 in regulatory assets under management in its Form ADV filing dated June 30, 2026 (76% discretionary).

**How have Pathway Capital Management, LP's assets and staff changed since 2021?**
In the Form ADV data for Pathway Capital Management, LP: Regulatory assets under management: $80,147,683,767 in the October 2021 data and $97,818,354,930 in the October 2026 data, up 22%. Total employees: 187 in October 2021 and 248 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Pathway 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) (103); pension and profit sharing plans (but not the plan participants or government pension plans) (8); state or municipal government entities (including government pension plans) (7).

**Does Pathway 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/108016

**What changed in Pathway Capital Management, LP's recent Form ADV filings?**
In the July 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
- Fixed fees (other than subscription fees)
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $97,818,354,930
- Discretionary: $74,171,669,862
- Non-discretionary: $23,646,685,068

### 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) | 103 | $43,043,498,382 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 8 | $4,387,513,998 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 7 | $48,803,432,200 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 2 | $1,583,910,350 |
| 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 individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1997 (29 years)
- Employees: 248 total, 88 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, DE, FL, IL, LA, NC, NE, NY, OH, PA, RI, TX, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the July 2026 filing
- Central, Hong Kong
- London
- Munich
- Providence, RI

### Websites listed on Form ADV (Item 1.I)
- pathwaycapital.com
- LinkedIn linkedin.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $80,147,683,767 | 187 | March 30, 2021 |
| October 2022 | $95,634,173,030 | 207 | September 30, 2022 |
| October 2023 | $88,041,081,088 | 233 | October 3, 2023 |
| October 2024 | $87,787,751,721 | 235 | July 5, 2024 |
| October 2025 | $92,947,196,172 | 241 | May 6, 2025 |
| October 2026 | $97,818,354,930 | 248 | June 30, 2026 |

Regulatory assets under management: $80,147,683,767 in the October 2021 data and $97,818,354,930 in the October 2026 data, up 22%.
Total employees: 187 in October 2021 and 248 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Employees performing advisory functions went from 83 to 88.
- Added an office in Munich.
- Registered or notice-filed in IL, NE.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Pathway Capital Management, LP (CRD 108016): Form ADV filing data as of October 2026.