AdvisorCensus / Financial advisors / New York / New York / TRG Management LP
TRG Management LP is an SEC-registered investment advisory firm in New York, NY, registered since 2006, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.
Quick answers
From the filingHow is TRG Management LP compensated?
On its Form ADV (Item 5.E, October 2026), TRG Management LP reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.
How much does TRG Management LP charge?
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 0.55% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is TRG Management LP located?
TRG Management LP's principal office is in New York, NY, according to its Form ADV; the April 2026 filing also lists 9 other offices (Schedule D, Section 1.F).
Is TRG Management LP registered with the SEC or a state?
TRG Management LP is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 138083.
How much does TRG Management LP manage?
TRG Management LP reports $6,717,919,567 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (64% discretionary).
How have TRG Management LP's assets and staff changed since 2021?
In the Form ADV data for TRG Management LP: Regulatory assets under management: $5,326,681,949 in the October 2021 data and $6,717,919,567 in the October 2026 data, up 26%. Total employees: 97 in October 2021 and 102 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does TRG Management LP serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (43).
Which custodians does TRG Management LP use?
TRG Management LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Citigroup as a custodian holding 10% or more of its separately managed account assets.
Does TRG Management 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/138083
What changed in TRG Management LP's recent Form ADV filings?
In the April 2026 filing data: Employees performing advisory functions went from 74 to 54. Updated its list of owners and control persons (Schedule A).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAsset-based fee: 0.55% to 2% a year (a range, as the brochure states it)
The brochure's wording
Management Fees charged to the Funds are generally charged quarterly or semi-annually, may be charged in arrears or in advance, and typically range between 0.55% and 2.0% per annum
As stated in the firm's Form ADV Part 2A brochure dated March 31, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$6,717,919,567 as of October 2026, filing dated March 31, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
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
Registration and firm details
Items 1, 2, 5- Also doing business as
- BALAM FUND I GP, L.P., TRG ADVISORS INDIA PRIVATE LIMITED, TRG ALLOCATION LLC (RELYING ADVISER), TRG BRASIL SERVICOS E PARTIPACOES LTDA., TRG MANAGEMENT ARGENTINA SRL, TRG MANAGEMENT PERU SRL, TRG MANAGEMENT SINGAPORE PTE LTD, TRG MANAGEMENT UK LLP, TRG MANAGEMENT URUGUAY SRL, TRG RENEWABLE RESOURCES NEW ZEALAND, TRG RENEWABLE RESOURCES URUGUAY, TRG VENTURE CAPITAL INTERNATIONAL PARTNERSHIP G.P. LIMITED (RELYING ADVISOR)
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2006 (20 years)
- Employees
- Total: 102. Performing investment advisory functions: 54.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- Other offices (Schedule D, Section 1.F)
-
9 other offices, as of the April 2026 filing
- States registered or notice-filed
- Not reported.
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $6,717,919,567 | 102 | March 31, 2026 |
| October 2025 | $6,521,119,612 | 143 | March 31, 2025 |
| October 2024 | $8,452,795,213 | 160 | April 29, 2024 |
| October 2023 | $6,375,507,669 | 118 | March 31, 2023 |
| October 2022 | $6,595,366,472 | 97 | July 27, 2022 |
| October 2021 | $5,326,681,949 | 97 | March 31, 2021 |
Regulatory assets under management: $5,326,681,949 in the October 2021 data and $6,717,919,567 in the October 2026 data, up 26%.
Total employees: 97 in October 2021 and 102 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Employees performing advisory functions went from 74 to 54.
- Updated its list of owners and control persons (Schedule A).
- December 2025
- No longer lists the business name Rohatyn Management South Africa Proprietary Limited (Relying Adviser).
- No longer lists the business name TRG Mezzanine Partners 3 GP Partnership.
- No longer lists the business name TRG Mezzanine Partners GP Proprietary Limited.
- No longer lists the business name TRG Mezzanine Partners Proprietary Limited.
- No longer lists the business name TRG Private Equity Kenya Limited.
- No longer lists an office in Johannesburg.
- Updated its list of owners and control persons (Schedule A).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. TRG Management LP (CRD 138083): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/trg-management-lp-new-york-ny-138083