{ "crd_number": 283834, "slug": "pearl-diver-capital-llp-london-283834", "primary_business_name": "PEARL DIVER CAPITAL LLP", "legal_name": "PEARL DIVER CAPITAL LLP", "dbas": [], "city": "London", "state": null, "country": "United Kingdom", "cbsa_code": null, "metro": null, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2017-01-09", "years_registered": 9, "period": "2026-10-01", "filing_date": "2026-03-25", "carried_forward": false, "raum_total": 2820301079.0, "raum_discretionary": 141346012.0, "raum_non_discretionary": 2678955067.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 20, "advisory_employees": 12, "client_count_bucket": null, "clients_by_type": { "investment_companies": { "raum": 141346012.0, "count": 1 }, "pooled_investment_vehicles": { "raum": 2678955067.0, "count": 17 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_investment_companies", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [], "websites": [ "https://pearldivercapital.com" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/283834", "city_as_filed": "LONDON", "url": "https://advisorcensus.com/firm/pearl-diver-capital-llp-london-283834", "display_name": "Pearl Diver Capital LLP", "summary": "Pearl Diver Capital LLP is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2017, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 25, 2026.", "citation": "AdvisorCensus. Pearl Diver Capital LLP (CRD 283834): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Performance-based fees" ], "advisory_activity_labels": [ "Portfolio management for investment companies (and business development companies)", "Portfolio management for pooled investment vehicles (other than investment companies)" ], "quick_answers": [ { "q": "How is Pearl Diver Capital LLP compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Pearl Diver Capital LLP 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." }, { "q": "Where is Pearl Diver Capital LLP located?", "a": "Pearl Diver Capital LLP's principal office is in London, United Kingdom, according to its Form ADV; the April 2026 filing also lists 2 other offices (Schedule D, Section 1.F)." }, { "q": "Is Pearl Diver Capital LLP registered with the SEC or a state?", "a": "Pearl Diver Capital LLP is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 283834." }, { "q": "How much does Pearl Diver Capital LLP manage?", "a": "Pearl Diver Capital LLP reports $2,820,301,079 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (5% discretionary)." }, { "q": "How have Pearl Diver Capital LLP's assets and staff changed since 2021?", "a": "In the Form ADV data for Pearl Diver Capital LLP: Regulatory assets under management: $1,660,283,048 in the October 2021 data and $2,820,301,079 in the October 2026 data, up 70%. Total employees: 13 in October 2021 and 20 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Pearl Diver Capital LLP serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (17); investment companies (1)." }, { "q": "Does Pearl Diver Capital LLP report any disciplinary disclosures?", "a": "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/283834" }, { "q": "What changed in Pearl Diver Capital LLP's recent Form ADV filings?", "a": "In the April 2026 filing data: Regulatory assets under management went from $2,483,011,762 to $2,820,301,079 (+14%). Added an office in Dubai." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 1660283048.0, "total_employees": 13, "filing_date": "2021-09-09" }, { "period": "2022-10-01", "regulatory_assets_under_management": 2000710447.0, "total_employees": 13, "filing_date": "2022-05-05" }, { "period": "2023-10-01", "regulatory_assets_under_management": 1834665449.0, "total_employees": 13, "filing_date": "2023-03-30" }, { "period": "2024-10-01", "regulatory_assets_under_management": 2283365979.0, "total_employees": 13, "filing_date": "2024-03-28" }, { "period": "2025-10-01", "regulatory_assets_under_management": 2483011762.0, "total_employees": 20, "filing_date": "2025-03-31" }, { "period": "2026-10-01", "regulatory_assets_under_management": 2820301079.0, "total_employees": 20, "filing_date": "2026-03-25" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $2,483,011,762 to $2,820,301,079 (+14%).", "Added an office in Dubai." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/pearl-diver-capital-llp-london-283834.md", "clients": [ { "type": "investment_companies", "label": "Investment companies", "count": 1, "fewer_than_5": false, "raum": 141346012.0 }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 17, "fewer_than_5": false, "raum": 2678955067.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/283834", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }