# Prairie Capital

> Prairie Capital is an SEC-registered investment advisory firm in Chicago, IL, registered since 2012, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated September 17, 2026.

- CRD: 155566
- Filed as: PRAIRIE CAPITAL
- Legal name: Prairie Management Company, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: September 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/155566
- AdvisorCensus page: https://advisorcensus.com/firm/prairie-capital-chicago-il-155566

## Quick answers

**How is Prairie Capital compensated?**
On its Form ADV (Item 5.E, October 2026), Prairie Capital reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**What does Prairie Capital's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 28, 2026 states: Asset-based fee: 2% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Prairie Capital located?**
Prairie Capital's principal office is in Chicago, IL, according to its Form ADV.

**Is Prairie Capital registered with the SEC or a state?**
Prairie Capital is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 155566.

**How much does Prairie Capital manage?**
Prairie Capital reports $869,871,068 in regulatory assets under management in its Form ADV filing dated September 17, 2026 (100% discretionary).

**How have Prairie Capital's assets and staff changed since 2021?**
In the Form ADV data for Prairie Capital: Regulatory assets under management: $1,163,196,348 in the October 2021 data and $869,871,068 in the October 2026 data, down 25%. Total employees: 20 in October 2021 and 22 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Prairie Capital serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6).

**Does Prairie Capital 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/155566

**What changed in Prairie Capital's recent Form ADV filings?**
In the October 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
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 28, 2026)

- Asset-based fee: 2% of assets a year

> Each Partnership pays its General Partner, quarterly in advance, a Management Fee equal to 2.0% per annum of its “fee base.”

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

### Regulatory assets under management (Item 5.F)
- Total: $869,871,068
- Discretionary: $869,871,068
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $869,871,068 |

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

### Firm details
- Registered since: 2012 (14 years)
- Employees: 22 total, 15 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- prairie-capital.com
- LinkedIn @prairie-capital-lp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,163,196,348 | 20 | August 20, 2021 |
| October 2022 | $1,282,741,640 | 19 | May 17, 2022 |
| October 2023 | $1,336,745,718 | 20 | March 31, 2023 |
| October 2024 | $1,130,485,867 | 21 | March 29, 2024 |
| October 2025 | $999,307,676 | 21 | March 31, 2025 |
| October 2026 | $869,871,068 | 22 | September 17, 2026 |

Regulatory assets under management: $1,163,196,348 in the October 2021 data and $869,871,068 in the October 2026 data, down 25%.
Total employees: 20 in October 2021 and 22 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Employees performing advisory functions went from 14 to 15.
- Regulatory assets under management went from $999,307,676 to $869,871,068 (-13%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Prairie Capital (CRD 155566): Form ADV filing data as of October 2026.