{
  "crd_number": 328318,
  "slug": "permanent-capital-management-lp-chicago-il-328318",
  "primary_business_name": "PERMANENT CAPITAL MANAGEMENT, LP",
  "legal_name": "PERMANENT CAPITAL MANAGEMENT, LP",
  "dbas": [],
  "city": "Chicago",
  "state": "IL",
  "country": "United States",
  "cbsa_code": "16980",
  "metro": {
    "cbsa_code": "16980",
    "common_name": "Chicago",
    "msa_name": "Chicago-Naperville-Elgin, IL-IN",
    "path": "/advisors/il/chicago"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2023-10-10",
  "years_registered": 2,
  "period": "2026-10-01",
  "filing_date": "2026-09-29",
  "carried_forward": false,
  "raum_total": 768906969.0,
  "raum_discretionary": 600536126.0,
  "raum_non_discretionary": 168370843.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 10,
  "advisory_employees": 1,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 5365218.0,
      "count": null,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": 56017997.0,
      "count": null,
      "fewer_than_5": true
    },
    "high_net_worth_individuals": {
      "raum": 133755589.0,
      "count": null,
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 48296441.0,
      "count": 3
    },
    "corporations_other_businesses": {
      "raum": 525471724.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "fixed",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "IL"
  ],
  "websites": [
    "https://linkedin.com/company/permanent-capital-partners",
    "https://permanent-capital.com",
    "https://permcapital.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/328318",
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/permanent-capital-management-lp-chicago-il-328318",
  "display_name": "Permanent Capital Management, LP",
  "summary": "Permanent Capital Management, LP is an SEC-registered investment advisory firm in Chicago, IL, registered since 2023, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated September 29, 2026.",
  "citation": "AdvisorCensus. Permanent Capital Management, LP (CRD 328318): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Permanent Capital Management, LP compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Permanent Capital Management, LP reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees)."
    },
    {
      "q": "How much does Permanent Capital Management, LP charge?",
      "a": "Its Form ADV Part 2A brochure dated April 30, 2026 states: Asset-based fee: up to 0.75% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Permanent Capital Management, LP located?",
      "a": "Permanent Capital Management, LP's principal office is in Chicago, IL, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Permanent Capital Management, LP registered with the SEC or a state?",
      "a": "Permanent Capital Management, LP is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 328318."
    },
    {
      "q": "How much does Permanent Capital Management, LP manage?",
      "a": "Permanent Capital Management, LP reports $768,906,969 in regulatory assets under management in its Form ADV filing dated September 29, 2026 (78% discretionary)."
    },
    {
      "q": "How have Permanent Capital Management, LP's assets and staff changed since 2024?",
      "a": "In the Form ADV data for Permanent Capital Management, LP: Regulatory assets under management: $365,101,315 in the October 2024 data and $768,906,969 in the October 2026 data, up 111%. Total employees: 4 in October 2024 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Permanent Capital Management, LP serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (3)."
    },
    {
      "q": "Which custodians does Permanent Capital Management, LP use?",
      "a": "Permanent Capital Management, LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Permanent Capital Management, LP 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/328318"
    },
    {
      "q": "What changed in Permanent Capital Management, LP's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Added an office in San Mateo, CA."
    }
  ],
  "filing_history": [
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 365101315.0,
      "total_employees": 4,
      "filing_date": "2024-09-09"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 742150141.0,
      "total_employees": 5,
      "filing_date": "2025-06-30"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 768906969.0,
      "total_employees": 10,
      "filing_date": "2026-09-29"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Added an office in San Mateo, CA."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated April 30, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": "0.75% of assets a year",
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: up to 0.75% of assets a year (the maximum the brochure states)"
        ],
        "quotes": [
          "Investment advisory fees typically range up to 0.75% annually based on several factors, including: the complexity of the services to be provided, the level of assets to be managed, assets services, and the overall"
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": 0.75,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Investment advisory fees typically range up to 0.75% annually based on several factors, including: the complexity of the services to be provided, the level of assets to be managed, assets services, and the overall"
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Fidelity Brokerage Services LLC",
      "name_as_filed": "FIDELITY BROKERAGE SERVICES LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/permanent-capital-management-lp-chicago-il-328318.md",
  "clients": [
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": null,
      "fewer_than_5": true,
      "raum": 133755589.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 3,
      "fewer_than_5": false,
      "raum": 48296441.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": null,
      "fewer_than_5": true,
      "raum": 5365218.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": null,
      "fewer_than_5": true,
      "raum": 56017997.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": true,
      "raum": 525471724.0
    }
  ],
  "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/328318",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}