Private fund adviser · New York, NY
Clarion Partners
Clarion Partners, LLC · SEC-registered investment adviser · CRD 108803 · SEC 801-16611
At a glance
Clarion Partners is an SEC-registered investment adviser based in New York, New York, with $73.7 billion in regulatory assets under management as of its Form ADV filed February 27, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 117th of 4,686 private fund advisers and 335th of 17,210 SEC-registered advisers by assets.
Main office 212-883-2500clarionpartners.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $74B
- Rank among private fund advisers
- #117 of 4,686
- Rank among all SEC RIAs
- #335 of 17,210
- Rank in New York
- #87 of 2,591
- Clients
- 36
- Accounts
- 45
- Discretionary
- 92% of AUM
- Employees
- 321
- Advisory staff
- 180
- Offices
- 7
Owners and executives on its Form ADV
- David J. GilbertChief Executive Officer
- Jeffrey H. MacdonnellChief Marketing Officer
- Ralph J BelfordChief Investment Officer
- Susan M. BoccardiGeneral Counsel & Chief Compliance Officer
- Heather B. HopkinsChief Financial Officer
- Susan M AnselExecutive Board Member
- Jonathan GelbExecutive Board Member
- Kimberly AdamsManaging Director
- Indraneel KarlekarManaging Director
- Joshua H. PristawPresident
- John D. ConklinExecutive Board Member
Custody and brokerage
Custodian
Clarion Partners’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
Broker-dealer
Hybrid RIA
Clarion Partners is a hybrid RIA: 19 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Clarion Partners Emea Limited, Clarion Partners Europe (u.k.) Limited, Clarion Partners Securities, LLC, Franklin Distributors, LLC and Franklin Templeton International Services S.a R.L..
- Clarion Partners Emea Limited
- Clarion Partners Europe (u.k.) Limited
- Clarion Partners Securities, LLC ↗CRD 166384
It doesn’t hold client accounts or customer funds itself. Its annual audited report filed with the SEC, November 2025
- Franklin Distributors, LLC ↗CRD 109064
An introducing broker-dealer: its trades clear through another firm, which holds the brokerage accounts. Its annual audited report filed with the SEC, December 2025
- Franklin Templeton International Services S.a R.L. ↗CRD 172140
Its Form ADV brochure (filed December 2025) names Clarion Partners Securities as the broker-dealer its advisers are registered with.
Certain of Clarion’s associates are registered representatives of Clarion’s affiliated broker-dealer Clarion Partners Securities, LLC (“CPS”).
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 27 | $62B | 84% |
| State or municipal government entities | 8 | $8.2B | 11% |
| Pension and profit sharing plans | – | $1.4B | 2% |
| Investment companies | 1 | $1.1B | 1% |
| Insurance companies | – | $761M | 1% |
| Sovereign wealth funds and foreign official institutions | – | $221M | <1% |
| Charitable organizations | – | $45M | <1% |
| Banking or thrift institutions | – | $0M | <1% |
Private funds
Clarion Partners reports 22 private funds with $28B in gross assets: hedge funds, real estate funds (Form ADV Item 7.B).
Disciplinary disclosures
Clarion Partners answers yes to 4 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Fixed fees
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗clarionpartners.com ↗
AtlasMembers
The full record on Clarion 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 279 peers of its type and size
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- Owners and executives, with titles and stakes
- 11 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Clarion Partners manage?
Clarion Partners reports $73.7 billion in regulatory assets under management across 45 accounts, 92% of it on a discretionary basis, on its Form ADV filed February 27, 2026.
What kind of firm is Clarion Partners?
Clarion Partners is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets. A public reporting company controls it.
Who are Clarion Partners’s clients?
By assets, its largest client types are pooled investment vehicles ($62.1 billion, 27 clients); state or municipal government entities ($8.2 billion, 8 clients); pension and profit sharing plans ($1.4 billion).
Does Clarion Partners manage private funds?
Yes. It reports 22 private funds with $28.4 billion in gross assets, including hedge funds, real estate funds.
Does Clarion Partners have any disciplinary history?
Clarion Partners answers yes to 4 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is Clarion 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 (2026-02-27), 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 →