# Sands Capital Alternatives, LLC

> Sands Capital Alternatives, LLC is an SEC-registered investment advisory firm in Arlington, VA, registered since 2011, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 28, 2026.

- CRD: 155517
- Filed as: SANDS CAPITAL ALTERNATIVES, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Arlington, VA
- Filing period: October 2026
- Form ADV filing dated: July 28, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/155517
- AdvisorCensus page: https://advisorcensus.com/firm/sands-capital-alternatives-llc-arlington-va-155517

## Quick answers

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

**Where is Sands Capital Alternatives, LLC located?**
Sands Capital Alternatives, LLC's principal office is in Arlington, VA, according to its Form ADV; the August 2026 filing also lists 5 other offices (Schedule D, Section 1.F).

**Is Sands Capital Alternatives, LLC registered with the SEC or a state?**
Sands Capital Alternatives, LLC is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 155517.

**How much does Sands Capital Alternatives, LLC manage?**
Sands Capital Alternatives, LLC reports $5,405,373,296 in regulatory assets under management in its Form ADV filing dated July 28, 2026 (100% discretionary).

**How have Sands Capital Alternatives, LLC's assets and staff changed since 2021?**
In the Form ADV data for Sands Capital Alternatives, LLC: Regulatory assets under management: $1,377,726,237 in the October 2021 data and $5,405,373,296 in the October 2026 data, up 292%. Total employees: 37 in October 2021 and 182 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Sands Capital Alternatives, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (34).

**Which custodians does Sands Capital Alternatives, LLC use?**
Sands Capital Alternatives, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists CIBC Mellon Trust Company and The Bank of New York Mellon Corporation as custodians holding 10% or more of its separately managed account assets.

**Does Sands Capital Alternatives, LLC 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/155517

**What changed in Sands Capital Alternatives, LLC's recent Form ADV filings?**
In the August 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

### Custodians (Schedule D, Section 5.K(3))
- CIBC Mellon Trust Company
- The Bank of New York Mellon Corporation

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: $5,405,373,296
- Discretionary: $5,405,373,296
- 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) | 34 | $5,242,616,582 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $162,756,714 |
| 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)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2011 (15 years)
- Employees: 182 total, 66 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, AZ, CA, CO, CT, DC, DE, FL, GA, IA, IL, IN, KS, MA, MD, MI, MN, MO, MT, NC, NH, NJ, NV, NY, OH, OK, OR, PA, PR, SC, SD, TN, TX, UT, VA, WA, WI, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Fitzrovia London
- New York City, NY
- San Francisco, CA
- San Juan, PR
- Singapore

### Websites listed on Form ADV (Item 1.I)
- sandscapital.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,377,726,237 | 37 | March 29, 2021 |
| October 2022 | $3,359,391,173 | 43 | March 31, 2022 |
| October 2023 | $2,697,019,354 | 105 | March 31, 2023 |
| October 2024 | $2,876,429,874 | 181 | July 1, 2024 |
| October 2025 | $3,210,736,244 | 177 | July 1, 2025 |
| October 2026 | $5,405,373,296 | 182 | July 28, 2026 |

Regulatory assets under management: $1,377,726,237 in the October 2021 data and $5,405,373,296 in the October 2026 data, up 292%.
Total employees: 37 in October 2021 and 182 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Employees performing advisory functions went from 64 to 66.
- Regulatory assets under management went from $3,210,736,244 to $5,405,373,296 (+68%).
- Changed its office addresses in Fitzrovia London.
- Changed its office addresses in San Juan, PR.
- No longer lists an office in Incline Village, NV.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Sands Capital Alternatives, LLC (CRD 155517): Form ADV filing data as of October 2026.