Private fund adviser · Chicago, IL
BDT Capital Partners
BDT Capital Partners, LLC · SEC-registered investment adviser · CRD 160914 · SEC 801-73499
At a glance
BDT Capital Partners is an SEC-registered investment adviser based in Chicago, Illinois, with $51.5 billion in regulatory assets under management as of its Form ADV filed August 3, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 153rd of 4,686 private fund advisers and 421st of 17,210 SEC-registered advisers by assets.
Main office 312-660-7300bdtmsd.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $52B
- Rank among private fund advisers
- #153 of 4,686
- Rank among all SEC RIAs
- #421 of 17,210
- Rank in Illinois
- #31 of 684
- Clients
- 45
- Accounts
- 46
- Discretionary
- 100% of AUM
- Employees
- 498
- Advisory staff
- 231
- Offices
- 13
Owners and executives on its Form ADV
- Byron D. TrottChairman & Co-Chief Executive Officer
- San W. OrrPresident
- Dan H. JesterPresident
- Cindy Z. MichelPartner & Global Chief Compliance Officer
- Gregg R. LemkauCo-Chief Executive Officer
- Robert K. SimondsPartner & General Counsel
- Daniel R. StockPartner & Co-Chief Financial Officer
- Lawrence E. SchaltenbrandPartner & Co-Chief Financial Officer
- Chad M. FeingoldPartner & Chief Operating Officer
- Gregory G. OlafsonPresident
- Amy L. EnnesserPresident
- Adam C. BesharaPresident
Custody and brokerage
Broker-dealer
Hybrid RIA
BDT Capital Partners is a hybrid RIA: 171 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: BDT & MSD Europe S.a R.L., BDT & MSD Partners Europe Gmbh, BDT & MSD Partners International, LLP, BDT & MSD Partners, LLC and BDT & MSD Switzerland Gmbh.
- BDT & MSD Europe S.a R.L.
- BDT & MSD Partners Europe Gmbh
- BDT & MSD Partners International, LLP
- BDT & MSD Partners, LLC ↗CRD 150459
- BDT & MSD Switzerland Gmbh
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 45 | $52B | 100% |
| Other | – | $2M | <1% |
Private funds
BDT Capital Partners reports 45 private funds with $75B in gross assets: private equity funds (Form ADV Item 7.B).
Disciplinary disclosures
BDT Capital Partners reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for pooled investment vehicles
How it’s paid
- A percentage of assets under management
- Fixed fees
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗bdtmsd.com ↗
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The full record on BDT Capital Partners
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 364 peers of its type and size
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- Owners and executives, with titles and stakes
- 14 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 3Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does BDT Capital Partners manage?
BDT Capital Partners reports $51.5 billion in regulatory assets under management across 46 accounts, 100% of it on a discretionary basis, on its Form ADV filed August 3, 2026.
What kind of firm is BDT Capital Partners?
BDT Capital Partners is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets.
Who are BDT Capital Partners’s clients?
By assets, its largest client types are pooled investment vehicles ($51.5 billion, 45 clients); other ($2 million).
Does BDT Capital Partners manage private funds?
Yes. It reports 45 private funds with $75.4 billion in gross assets, including private equity funds.
Does BDT Capital Partners have any disciplinary history?
BDT Capital Partners reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is BDT Capital Partners’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-08-03), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →