# Pine River Capital Management L.P.

> Pine River Capital Management L.P. is an SEC-registered investment advisory firm in Minnetonka, MN, registered since 2006, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated June 16, 2026.

- CRD: 133720
- Filed as: PINE RIVER CAPITAL MANAGEMENT L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Minnetonka, MN
- Filing period: October 2026
- Form ADV filing dated: June 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/133720
- AdvisorCensus page: https://advisorcensus.com/firm/pine-river-capital-management-l-p-minnetonka-mn-133720

## Quick answers

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

**Where is Pine River Capital Management L.P. located?**
Pine River Capital Management L.P.'s principal office is in Minnetonka, MN, according to its Form ADV; the July 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Pine River Capital Management L.P. registered with the SEC or a state?**
Pine River Capital Management L.P. is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 133720.

**How much does Pine River Capital Management L.P. manage?**
Pine River Capital Management L.P. reports $46,868,139,376 in regulatory assets under management in its Form ADV filing dated June 16, 2026 (100% discretionary).

**How have Pine River Capital Management L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Pine River Capital Management L.P.: Regulatory assets under management: $2,603,295,698 in the October 2021 data and $46,868,139,376 in the October 2026 data, up 1700%. Total employees: 27 in October 2021 and 31 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Pine River Capital Management L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (7).

**Does Pine River Capital Management L.P. 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/133720

**What changed in Pine River Capital Management L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 15 to 14. Regulatory assets under management went from $24,052,614,047 to $46,868,139,376 (+95%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees
- Other

### Regulatory assets under management (Item 5.F)
- Total: $46,868,139,376
- Discretionary: $46,868,139,376
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 7 | $46,868,139,376 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2006 (20 years)
- Employees: 31 total, 14 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL, MN, NY
- 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
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- pinerivercapital.com
- prcm.com
- LinkedIn @pine-river-capital-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,603,295,698 | 27 | August 23, 2021 |
| October 2022 | $1,611,851,747 | 28 | March 31, 2022 |
| October 2023 | $3,612,524,123 | 31 | August 17, 2023 |
| October 2024 | $9,720,125,913 | 33 | March 29, 2024 |
| October 2025 | $24,052,614,047 | 33 | June 17, 2025 |
| October 2026 | $46,868,139,376 | 31 | June 16, 2026 |

Regulatory assets under management: $2,603,295,698 in the October 2021 data and $46,868,139,376 in the October 2026 data, up 1700%.
Total employees: 27 in October 2021 and 31 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 15 to 14.
- Regulatory assets under management went from $24,052,614,047 to $46,868,139,376 (+95%).

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

### November 2025
- Changed its office addresses in New York, NY.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Pine River Capital Management L.P. (CRD 133720): Form ADV filing data as of October 2026.