# Square Circle IA LP

> Square Circle IA LP is an SEC-registered investment advisory firm in Boston, MA, registered since 2022, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 312718
- Filed as: SQUARE CIRCLE IA LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/312718
- AdvisorCensus page: https://advisorcensus.com/firm/square-circle-ia-lp-boston-ma-312718

## Quick answers

**How is Square Circle IA LP compensated?**
On its Form ADV (Item 5.E, October 2026), Square Circle IA LP reports these compensation arrangements: performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Square Circle IA LP located?**
Square Circle IA LP's principal office is in Boston, MA, according to its Form ADV.

**Is Square Circle IA LP registered with the SEC or a state?**
Square Circle IA LP is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 312718.

**How much does Square Circle IA LP manage?**
Square Circle IA LP reports $448,908,446 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Square Circle IA LP's assets and staff changed since 2021?**
In the Form ADV data for Square Circle IA LP: Regulatory assets under management: $235,195,977 in the October 2022 data and $448,908,446 in the October 2026 data, up 91%. Total employees: 3 in October 2022 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Square Circle IA LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2).

**Does Square Circle IA LP 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/312718

**What changed in Square Circle IA LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 3 to 2. Regulatory assets under management went from $511,345,166 to $448,908,446 (-12%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- Performance-based fees
- Other

### Regulatory assets under management (Item 5.F)
- Total: $448,908,446
- Discretionary: $448,908,446
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $448,908,446 |

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

### Firm details
- Registered since: 2022 (4 years)
- Employees: 3 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | Not reported | Not reported | August 6, 2021 |
| October 2022 | $235,195,977 | 3 | June 29, 2022 |
| October 2023 | $220,464,905 | 3 | March 30, 2023 |
| October 2024 | $388,499,707 | 4 | August 30, 2024 |
| October 2025 | $511,345,166 | 4 | March 28, 2025 |
| October 2026 | $448,908,446 | 3 | March 27, 2026 |

Regulatory assets under management: $235,195,977 in the October 2022 data and $448,908,446 in the October 2026 data, up 91%.
Total employees: 3 in October 2022 and 3 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 3 to 2.
- Regulatory assets under management went from $511,345,166 to $448,908,446 (-12%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Square Circle IA LP (CRD 312718): Form ADV filing data as of October 2026.