# Prospect Capital Management L.P.

> Prospect Capital Management L.P. is an SEC-registered investment advisory firm in West Palm Beach, FL, registered since 2004, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 21, 2026.

- CRD: 131018
- Filed as: PROSPECT CAPITAL MANAGEMENT L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: West Palm Beach, FL
- Filing period: October 2026
- Form ADV filing dated: August 21, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/131018
- AdvisorCensus page: https://advisorcensus.com/firm/prospect-capital-management-l-p-west-palm-beach-fl-131018

## Quick answers

**How is Prospect Capital Management L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Prospect Capital Management L.P. 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 Prospect Capital Management L.P. located?**
Prospect Capital Management L.P.'s principal office is in West Palm Beach, FL, according to its Form ADV; the September 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Prospect Capital Management L.P. registered with the SEC or a state?**
Prospect Capital Management L.P. is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 131018.

**How much does Prospect Capital Management L.P. manage?**
Prospect Capital Management L.P. reports $6,637,985,287 in regulatory assets under management in its Form ADV filing dated August 21, 2026 (100% discretionary).

**How have Prospect Capital Management L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Prospect Capital Management L.P.: Regulatory assets under management: $5,700,754,000 in the October 2021 data and $6,637,985,287 in the October 2026 data, up 16%. Total employees: 96 in October 2021 and 143 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Prospect Capital Management L.P. serve?**
By number of clients on Form ADV Item 5.D: business development companies (2); pooled investment vehicles (other than investment companies and business development companies) (2).

**Does Prospect 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/131018

**What changed in Prospect Capital Management L.P.'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
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $6,637,985,287
- Discretionary: $6,623,911,535
- Non-discretionary: $14,073,752

### 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 | 2 | $6,623,911,535 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $14,073,752 |
| 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 investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2004 (22 years)
- Employees: 143 total, 44 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 September 2026 filing
- Darien, CT
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- prospectcap.com
- LinkedIn @PROSPECT-CAPITAL-MANAGEMENT

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $5,700,754,000 | 96 | March 29, 2021 |
| October 2022 | $7,117,839,433 | 97 | March 25, 2022 |
| October 2023 | $7,924,227,136 | 105 | March 28, 2023 |
| October 2024 | $7,819,638,865 | 124 | June 14, 2024 |
| October 2025 | $7,230,958,071 | 155 | March 27, 2025 |
| October 2026 | $6,637,985,287 | 143 | August 21, 2026 |

Regulatory assets under management: $5,700,754,000 in the October 2021 data and $6,637,985,287 in the October 2026 data, up 16%.
Total employees: 96 in October 2021 and 143 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Employees performing advisory functions went from 61 to 44.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Prospect Capital Management L.P. (CRD 131018): Form ADV filing data as of October 2026.