# Radcliffe Capital Management, L.P.

> Radcliffe Capital Management, L.P. is an SEC-registered investment advisory firm in Bala Cynwyd, PA, registered since 2006, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 136028
- Filed as: RADCLIFFE CAPITAL MANAGEMENT, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Bala Cynwyd, PA
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/136028
- AdvisorCensus page: https://advisorcensus.com/firm/radcliffe-capital-management-l-p-bala-cynwyd-pa-136028

## Quick answers

**How is Radcliffe Capital Management, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Radcliffe 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 Radcliffe Capital Management, L.P. located?**
Radcliffe Capital Management, L.P.'s principal office is in Bala Cynwyd, PA, according to its Form ADV.

**Is Radcliffe Capital Management, L.P. registered with the SEC or a state?**
Radcliffe Capital Management, L.P. is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 136028.

**How much does Radcliffe Capital Management, L.P. manage?**
Radcliffe Capital Management, L.P. reports $5,144,022,980 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have Radcliffe Capital Management, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Radcliffe Capital Management, L.P.: Regulatory assets under management: $3,989,572,814 in the October 2021 data and $5,144,022,980 in the October 2026 data, up 29%. Total employees: 18 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 Radcliffe 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) (15); corporations or other businesses not listed above (4); other (4).

**Which custodians does Radcliffe Capital Management, L.P. use?**
Radcliffe Capital Management, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon, State Street Bank and Trust Company and TD Prime Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Radcliffe 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/136028

**What changed in Radcliffe Capital Management, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $4,356,491,582 to $5,144,022,980 (+18%).

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- BNY Mellon
- State Street Bank and Trust Company
- TD Prime Services 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: $5,144,022,980
- Discretionary: $5,144,022,980
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| 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) | 15 | $4,146,535,646 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 1 | $178,655,164 |
| 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 | 4 | $291,676,458 |
| Other | 4 | $527,155,712 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2006 (20 years)
- Employees: 22 total, 11 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: DE, PA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [radcliffefunds.com](https://radcliffefunds.com)
- LinkedIn @radcliffecapitalmanagement

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,989,572,814 | 18 | April 1, 2021 |
| October 2022 | $5,820,648,440 | 20 | May 18, 2022 |
| October 2023 | $5,805,732,007 | 22 | July 20, 2023 |
| October 2024 | $4,430,512,575 | 25 | July 15, 2024 |
| October 2025 | $4,356,491,582 | 24 | April 3, 2025 |
| October 2026 | $5,144,022,980 | 22 | March 30, 2026 |

Regulatory assets under management: $3,989,572,814 in the October 2021 data and $5,144,022,980 in the October 2026 data, up 29%.
Total employees: 18 in October 2021 and 22 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $4,356,491,582 to $5,144,022,980 (+18%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Radcliffe Capital Management, L.P. (CRD 136028): Form ADV filing data as of October 2026.