# Pearl Diver Capital LLP

> 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.

- CRD: 283834
- Filed as: PEARL DIVER CAPITAL LLP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/283834
- AdvisorCensus page: https://advisorcensus.com/firm/pearl-diver-capital-llp-london-283834

## Quick answers

**How is Pearl Diver Capital LLP compensated?**
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.

**Where is Pearl Diver Capital LLP located?**
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).

**Is Pearl Diver Capital LLP registered with the SEC or a state?**
Pearl Diver Capital LLP is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 283834.

**How much does Pearl Diver Capital LLP manage?**
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).

**How have Pearl Diver Capital LLP's assets and staff changed since 2021?**
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.

**What types of clients does Pearl Diver Capital LLP serve?**
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).

**Does Pearl Diver Capital LLP 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/283834

**What changed in Pearl Diver Capital LLP's recent Form ADV filings?**
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.

## 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: $2,820,301,079
- Discretionary: $141,346,012
- Non-discretionary: $2,678,955,067

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 1 | $141,346,012 |
| Pooled investment vehicles (other than investment companies and business development companies) | 17 | $2,678,955,067 |

### 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: 2017 (9 years)
- Employees: 20 total, 12 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Dubai
- New York, NY

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,660,283,048 | 13 | September 9, 2021 |
| October 2022 | $2,000,710,447 | 13 | May 5, 2022 |
| October 2023 | $1,834,665,449 | 13 | March 30, 2023 |
| October 2024 | $2,283,365,979 | 13 | March 28, 2024 |
| October 2025 | $2,483,011,762 | 20 | March 31, 2025 |
| October 2026 | $2,820,301,079 | 20 | March 25, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $2,483,011,762 to $2,820,301,079 (+14%).
- Added an office in Dubai.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Pearl Diver Capital LLP (CRD 283834): Form ADV filing data as of October 2026.