Fund families
The fund families with the most in private funds, and the families filing the most new Form D offerings this quarter — linked across Form ADV and Form D.
- Fund families
- 15,877
- control groups advising a private fund
- Private funds
- 198,747
- reported on Form ADV Schedule D
- Largest family
- $1.1T
- gross assets · Citadel Advisors LLC
- Most active family
- 137
- new Form D offerings · AQR Capital Management, LLC
Largest fund families
By their private funds' gross assets, from Form ADV
- Citadel Advisors LLC$1.1T
- Blackstone$890.4B
- Kohlberg Kravis Roberts & Co. L.P.$872.7B
- BlackRock Fund Advisors$820.6B
- Goldman Sachs Asset Management, L.P.$719.8B
| Family | Gross assets |
|---|---|
| Citadel Advisors LLC | $1.1T |
| Blackstone | $890.4B |
| Kohlberg Kravis Roberts & Co. L.P. | $872.7B |
| BlackRock Fund Advisors | $820.6B |
| Goldman Sachs Asset Management, L.P. | $719.8B |
| Millennium Management LLC | $712.7B |
| Qube Research & Technologies Limited | $580.4B |
| Capula Investment Management LLP | $568.9B |
| Brookfield | $485.6B |
| Ares Management LLC | $477.8B |
All 15,877 families, each with its advisers, funds and Form D offerings, are in the All planSee plans
Most active fund families this quarter
By new Form D offerings in the past 90 days
- AQR Capital Management, LLC137
- Morgan Stanley56
- Alumni Ventures42
- Quantinno Capital Management LP37
- Hyperspace Partners36
All 15,877 families, each with its advisers, funds and Form D offerings, are in the All planSee plans
An offering counts toward a family when embarc attributes it to one of the family's advisers or funds; a placement agent's offerings are not its own.
Advisers
4,446 filed · 90dThe registrants these families are made of. Advisers that filed Form ADV this quarter, by private funds reported.
- Goldman Sachs Asset Management, L.P.1,286 funds
- Icapital Advisors, LLC1,144 funds
- Apollo Capital Management, L.P.711 funds
- Ares Management LLC682 funds
- Kohlberg Kravis Roberts & Co. L.P.630 funds
| Goldman Sachs Asset Management, L.P.Filed 2026-09-25 | 1,286 funds |
| Icapital Advisors, LLCFiled 2026-09-30 | 1,144 funds |
| Apollo Capital Management, L.P.Filed 2026-08-26 | 711 funds |
| Ares Management LLCFiled 2026-08-26 | 682 funds |
| Kohlberg Kravis Roberts & Co. L.P.Filed 2026-09-25 | 630 funds |