# Permcap Investment Office

> Permcap Investment Office is an SEC-registered investment advisory firm in Charleston, SC, registered since 2011, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 11, 2026.

- CRD: 157476
- Filed as: PERMCAP INVESTMENT OFFICE
- Legal name: Permanens Capital L.P.
- Also doing business as: PERMCAP INVESTMENT OFFICE
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Charleston, SC
- Filing period: October 2026
- Form ADV filing dated: September 11, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/157476
- AdvisorCensus page: https://advisorcensus.com/firm/permcap-investment-office-charleston-sc-157476

## Quick answers

**How is Permcap Investment Office compensated?**
On its Form ADV (Item 5.E, October 2026), Permcap Investment Office reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**What does Permcap Investment Office's brochure say about its fees?**
Its Form ADV Part 2A brochure dated August 7, 2026 states: Asset-based fee: 0.5% to 1% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Permcap Investment Office located?**
Permcap Investment Office's principal office is in Charleston, SC, according to its Form ADV; the October 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Permcap Investment Office registered with the SEC or a state?**
Permcap Investment Office is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 157476.

**How much does Permcap Investment Office manage?**
Permcap Investment Office reports $4,017,549,299 in regulatory assets under management in its Form ADV filing dated September 11, 2026 (45% discretionary).

**How have Permcap Investment Office's assets and staff changed since 2021?**
In the Form ADV data for Permcap Investment Office: Regulatory assets under management: $3,726,101,932 in the October 2021 data and $4,017,549,299 in the October 2026 data, up 8%. Total employees: 15 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Permcap Investment Office serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (39); pooled investment vehicles (other than investment companies and business development companies) (11); charitable organizations (9).

**Which custodians does Permcap Investment Office use?**
Permcap Investment Office's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Pershing LLC as custodians holding 10% or more of its separately managed account assets.

**Does Permcap Investment Office report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/157476

**What changed in Permcap Investment Office's recent Form ADV filings?**
In the September 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

### Fees and minimums (Form ADV Part 2A brochure dated August 7, 2026)

- Asset-based fee: 0.5% to 1% a year (a range, as the brochure states it)

> Charges typically range between 0.50% and 1.00% of the assets being managed by the Advisor in a particular Separate Account.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Pershing LLC

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.

### Regulatory assets under management (Item 5.F)
- Total: $4,017,549,299
- Discretionary: $1,797,974,370
- Non-discretionary: $2,219,574,929

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 39 | $2,889,395,412 |
| 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) | 11 | $27,598,977 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 2 | $22,413,668 |
| Charitable organizations | 9 | $632,719,313 |
| 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 | 4 | $445,421,929 |

### Advisory services (Item 5.G)
- Financial planning services
- 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)
- Other

### Firm details
- Registered since: 2011 (15 years)
- Employees: 17 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, DE, NH, NY, SC, TX, VA
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/157476

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- New York, NY
- Solana Beach, CA

### Websites listed on Form ADV (Item 1.I)
- permcap.com
- LinkedIn @PERMANENS-CAPITAL-LP

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,726,101,932 | 15 | July 30, 2021 |
| October 2022 | $4,470,172,010 | 15 | March 29, 2022 |
| October 2023 | $4,193,707,521 | 16 | July 7, 2023 |
| October 2024 | $4,462,882,442 | 16 | March 22, 2024 |
| October 2025 | $4,932,477,414 | 16 | July 31, 2025 |
| October 2026 | $4,017,549,299 | 17 | September 11, 2026 |

Regulatory assets under management: $3,726,101,932 in the October 2021 data and $4,017,549,299 in the October 2026 data, up 8%.
Total employees: 15 in October 2021 and 17 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Regulatory assets under management went from $4,932,477,414 to $4,017,549,299 (-19%).
- Registered or notice-filed in CA.
- Updated its list of owners and control persons (Schedule A).

### January 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. Permcap Investment Office (CRD 157476): Form ADV filing data as of October 2026.