# TGM Associates L.P.

> TGM Associates L.P. is an SEC-registered investment advisory firm in New York, NY, registered since 1995, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 30, 2026.

- CRD: 108905
- Filed as: TGM ASSOCIATES L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: September 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/108905
- AdvisorCensus page: https://advisorcensus.com/firm/tgm-associates-l-p-new-york-ny-108905

## Quick answers

**How is TGM Associates L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), TGM Associates L.P. reports these compensation arrangements: performance-based fees; other.

**How much does TGM Associates L.P. charge?**
Its Form ADV Part 2A brochure dated March 27, 2026 states: Asset-based fee: up to 1% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is TGM Associates L.P. located?**
TGM Associates L.P.'s principal office is in New York, NY, according to its Form ADV.

**Is TGM Associates L.P. registered with the SEC or a state?**
TGM Associates L.P. is an SEC-registered investment advisory firm, registered since 1995. Status as filed: Approved. CRD 108905.

**How much does TGM Associates L.P. manage?**
TGM Associates L.P. reports $3,659,552,393 in regulatory assets under management in its Form ADV filing dated September 30, 2026 (0% discretionary).

**How have TGM Associates L.P.'s assets and staff changed since 2021?**
In the Form ADV data for TGM Associates L.P.: Regulatory assets under management: $2,333,197,065 in the October 2021 data and $3,659,552,393 in the October 2026 data, up 57%. Total employees: 15 in October 2021 and 35 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does TGM Associates L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (7).

**Does TGM Associates 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/108905

**What changed in TGM Associates L.P.'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)
- Performance-based fees
- Other

### Fees and minimums (Form ADV Part 2A brochure dated March 27, 2026)

- Asset-based fee: up to 1% of assets a year (the maximum the brochure states)

> TGM earns a base investment advisory fee for providing investment advisory services of up to 1% of average daily equity invested in a private fund.

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

### Regulatory assets under management (Item 5.F)
- Total: $3,659,552,393
- Discretionary: $0
- Non-discretionary: $3,659,552,393

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 7 | $3,659,552,393 |

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

### Firm details
- Registered since: 1995 (31 years)
- Employees: 35 total, 15 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,333,197,065 | 15 | March 31, 2021 |
| October 2022 | $2,819,393,920 | 14 | March 30, 2022 |
| October 2023 | $3,232,062,019 | 33 | March 31, 2023 |
| October 2024 | $3,540,333,917 | 37 | March 28, 2024 |
| October 2025 | $3,557,542,322 | 35 | March 28, 2025 |
| October 2026 | $3,659,552,393 | 35 | September 30, 2026 |

Regulatory assets under management: $2,333,197,065 in the October 2021 data and $3,659,552,393 in the October 2026 data, up 57%.
Total employees: 15 in October 2021 and 35 in October 2026.

## Changes in the filing (last 12 months)

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

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

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

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. TGM Associates L.P. (CRD 108905): Form ADV filing data as of October 2026.