{ "crd_number": 285348, "slug": "third-north-capital-lp-new-york-ny-285348", "primary_business_name": "THIRD NORTH CAPITAL LP", "legal_name": "THIRD NORTH CAPITAL LP", "dbas": [], "city": "New York", "state": "NY", "country": "United States", "cbsa_code": "35620", "metro": { "cbsa_code": "35620", "common_name": "New York", "msa_name": "New York-Newark-Jersey City, NY-NJ", "path": "/advisors/ny/new-york" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2016-11-22", "years_registered": 9, "period": "2026-10-01", "filing_date": "2026-03-30", "carried_forward": false, "raum_total": 432204482.0, "raum_discretionary": 432204482.0, "raum_non_discretionary": 0.0, "raum_band": "100m_500m", "raum_band_label": "$100 million to $500 million", "total_employees": 5, "advisory_employees": 4, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "charitable": { "raum": 247905281.0, "count": 2, "fewer_than_5": true }, "pooled_investment_vehicles": { "raum": 184299201.0, "count": 2 } }, "compensation_types": [ "fixed", "other", "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [], "websites": [], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/285348", "city_as_filed": "NEW YORK", "url": "https://advisorcensus.com/firm/third-north-capital-lp-new-york-ny-285348", "display_name": "Third North Capital LP", "summary": "Third North Capital LP is an SEC-registered investment advisory firm in New York, NY, registered since 2016, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 30, 2026.", "citation": "AdvisorCensus. Third North Capital LP (CRD 285348): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Fixed fees (other than subscription fees)", "Performance-based fees", "Other" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients" ], "quick_answers": [ { "q": "How is Third North Capital LP compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Third North Capital LP reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees; other." }, { "q": "How much does Third North Capital LP charge?", "a": "Its Form ADV Part 2A brochure dated March 30, 2026 states: Asset-based fee: 0.9% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement." }, { "q": "Where is Third North Capital LP located?", "a": "Third North Capital LP's principal office is in New York, NY, according to its Form ADV." }, { "q": "Is Third North Capital LP registered with the SEC or a state?", "a": "Third North Capital LP is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 285348." }, { "q": "How much does Third North Capital LP manage?", "a": "Third North Capital LP reports $432,204,482 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)." }, { "q": "How have Third North Capital LP's assets and staff changed since 2021?", "a": "In the Form ADV data for Third North Capital LP: Regulatory assets under management: $393,975,792 in the October 2021 data and $432,204,482 in the October 2026 data, up 10%. Total employees: 5 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Third North Capital LP serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2); charitable organizations (2)." }, { "q": "Which custodians does Third North Capital LP use?", "a": "Third North Capital LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Morgan Stanley & Co. LLC as a custodian holding 10% or more of its separately managed account assets." }, { "q": "Does Third North Capital LP report any disciplinary disclosures?", "a": "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/285348" }, { "q": "What changed in Third North Capital LP's recent Form ADV filings?", "a": "In the April 2026 filing data: Employees performing advisory functions went from 3 to 4." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 393975792.0, "total_employees": 5, "filing_date": "2021-03-29" }, { "period": "2022-10-01", "regulatory_assets_under_management": 418870470.0, "total_employees": 3, "filing_date": "2022-05-03" }, { "period": "2023-10-01", "regulatory_assets_under_management": 406444768.0, "total_employees": 5, "filing_date": "2023-03-21" }, { "period": "2024-10-01", "regulatory_assets_under_management": 426775590.0, "total_employees": 5, "filing_date": "2024-03-25" }, { "period": "2025-10-01", "regulatory_assets_under_management": 439224382.0, "total_employees": 4, "filing_date": "2025-03-31" }, { "period": "2026-10-01", "regulatory_assets_under_management": 432204482.0, "total_employees": 5, "filing_date": "2026-03-30" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 3 to 4." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated March 30, 2026", "provided_by_the_firm": false, "tiers": [], "flat_rate": null, "stated_range": "0.9% to 1.5% a year", "stated_maximum": null, "account_minimum": null, "account_minimum_may_be_waived": false, "minimum_annual_fee": null, "planning_fees": [], "figures": [ { "label": "Asset-based fee", "statements": [ "Asset-based fee: 0.9% to 1.5% a year (a range, as the brochure states it)" ], "quotes": [ "Generally, fees for our Managed Accounts, fees range between 0.90% and 1.5%." ] } ], "values": { "tiers": [], "range_pct": [ 0.9, 1.5 ], "max_pct": null, "account_minimum": null, "minimum_annual_fee": null, "planning": [] }, "quotes": [ "Generally, fees for our Managed Accounts, fees range between 0.90% and 1.5%." ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [ { "name": "Morgan Stanley & Co. LLC", "name_as_filed": "MORGAN STANLEY & CO. LLC", "affiliated": false } ], "custodians_note": "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.", "markdown_url": "https://advisorcensus.com/firm/third-north-capital-lp-new-york-ny-285348.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 2, "fewer_than_5": false, "raum": 184299201.0 }, { "type": "charitable", "label": "Charitable organizations", "count": 2, "fewer_than_5": true, "raum": 247905281.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/285348", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }