{ "crd_number": 285602, "slug": "waterton-investment-adviser-l-l-c-chicago-il-285602", "primary_business_name": "WATERTON INVESTMENT ADVISER, L.L.C.", "legal_name": "WATERTON INVESTMENT ADVISER, L.L.C.", "dbas": [], "city": "Chicago", "state": "IL", "country": "United States", "cbsa_code": "16980", "metro": { "cbsa_code": "16980", "common_name": "Chicago", "msa_name": "Chicago-Naperville-Elgin, IL-IN", "path": "/advisors/il/chicago" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2017-01-27", "years_registered": 9, "period": "2026-10-01", "filing_date": "2026-06-03", "carried_forward": false, "raum_total": 4331533757.0, "raum_discretionary": 4331533757.0, "raum_non_discretionary": 0.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 226, "advisory_employees": 70, "client_count_bucket": null, "clients_by_type": { "pooled_investment_vehicles": { "raum": 4331533757.0, "count": 17 } }, "compensation_types": [ "fixed", "other", "performance_based" ], "advisory_activities": [ "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "CO", "TX" ], "websites": [ "https://facebook.com/WATERTONREALESTATE", "https://facebook.com/WatertonCareers", "https://facebook.com/outboundhotels", "https://g.page/r/CUu0M0ewOvwpEAE", "https://instagram.com/WATERTONREALESTATE", "https://instagram.com/outboundhotels", "https://linkedin.com/company/79597309/admin/feed/posts", "https://linkedin.com/company/waterton/mycompany", "https://outboundhotel.com", "https://pinterest.com/WATERTONRE", "https://twitter.com/WATERTONCAREERS", "https://twitter.com/watertonre", "https://vimeo.com/waterton", "https://waterton.com", "https://youtube.com/@OutboundHotels", "https://youtube.com/channel/UCEB8p4-wvnnh1RlnRyh07LA/featured" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/285602", "city_as_filed": "CHICAGO", "url": "https://advisorcensus.com/firm/waterton-investment-adviser-l-l-c-chicago-il-285602", "display_name": "Waterton Investment Adviser, L.L.C.", "summary": "Waterton Investment Adviser, L.L.C. is an SEC-registered investment advisory firm in Chicago, IL, registered since 2017, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated June 3, 2026.", "citation": "AdvisorCensus. Waterton Investment Adviser, L.L.C. (CRD 285602): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "Fixed fees (other than subscription fees)", "Performance-based fees", "Other" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)" ], "quick_answers": [ { "q": "How is Waterton Investment Adviser, L.L.C. compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Waterton Investment Adviser, L.L.C. reports these compensation arrangements: fixed fees (other than subscription fees); performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Waterton Investment Adviser, L.L.C. located?", "a": "Waterton Investment Adviser, L.L.C.'s principal office is in Chicago, IL, according to its Form ADV; the July 2026 filing also lists 1 other office (Schedule D, Section 1.F)." }, { "q": "Is Waterton Investment Adviser, L.L.C. registered with the SEC or a state?", "a": "Waterton Investment Adviser, L.L.C. is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 285602." }, { "q": "How much does Waterton Investment Adviser, L.L.C. manage?", "a": "Waterton Investment Adviser, L.L.C. reports $4,331,533,757 in regulatory assets under management in its Form ADV filing dated June 3, 2026 (100% discretionary)." }, { "q": "How have Waterton Investment Adviser, L.L.C.'s assets and staff changed since 2021?", "a": "In the Form ADV data for Waterton Investment Adviser, L.L.C.: Regulatory assets under management: $2,805,959,155 in the October 2021 data and $4,331,533,757 in the October 2026 data, up 54%. Total employees: 190 in October 2021 and 226 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Waterton Investment Adviser, L.L.C. serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (17)." }, { "q": "Does Waterton Investment Adviser, L.L.C. 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/285602" }, { "q": "What changed in Waterton Investment Adviser, L.L.C.'s recent Form ADV filings?", "a": "In the April 2026 filing data: Employees performing advisory functions went from 69 to 70. Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 2805959155.0, "total_employees": 190, "filing_date": "2021-06-04" }, { "period": "2022-10-01", "regulatory_assets_under_management": 3769991498.0, "total_employees": 227, "filing_date": "2022-07-15" }, { "period": "2023-10-01", "regulatory_assets_under_management": 3745397537.0, "total_employees": 206, "filing_date": "2023-09-15" }, { "period": "2024-10-01", "regulatory_assets_under_management": 4726428452.0, "total_employees": 218, "filing_date": "2024-04-29" }, { "period": "2025-10-01", "regulatory_assets_under_management": 4510735470.0, "total_employees": 224, "filing_date": "2025-05-19" }, { "period": "2026-10-01", "regulatory_assets_under_management": 4331533757.0, "total_employees": 226, "filing_date": "2026-06-03" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 69 to 70.", "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/waterton-investment-adviser-l-l-c-chicago-il-285602.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 17, "fewer_than_5": false, "raum": 4331533757.0 } ], "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/285602", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }