Private fund adviser · Chicago, IL
Heitman Capital Management LLC
SEC-registered investment adviser · CRD 105480 · SEC 801-15473
At a glance
Heitman Capital Management LLC is an SEC-registered investment adviser based in Chicago, Illinois, with $6.1 billion in regulatory assets under management as of its Form ADV filed March 27, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 859th of 4,686 private fund advisers and 1,844th of 17,210 SEC-registered advisers by assets.
Main office 312-855-5700heitman.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $6.1B
- Rank among private fund advisers
- #859 of 4,686
- Rank among all SEC RIAs
- #1,844 of 17,210
- Rank in Illinois
- #101 of 684
- Clients
- 29
- Accounts
- 13
- Discretionary
- 85% of AUM
- Employees
- 280
- Advisory staff
- 184
- Offices
- 10
Owners and executives on its Form ADV
- Thomas D. McCarthyManager, Senior Managing Director, and Secretary
- Maury R. TognarelliManager, and President
- John A. ClementExecutive Vice President
- Dwight P. FawcettManaging Director
- Lewis S. IngallExecutive Vice President
- Blaise P. KeaneExecutive Vice President
- Gordon C. BlackExecutive Vice President
- Gregory S. LeadholmExecutive Vice President
- David R. MakiExecutive Vice President
- Anthony FerranteExecutive Vice President
- Lawrence J. ChristensenManager, Chief Financial Officer, Treasurer & Assistant Secretary
- Brian PieracciManaging Director, Head of Private Equity North America
Custody and brokerage
Custodian
Heitman Capital Management LLC’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
Heitman Capital Management LLC is a hybrid RIA: 14 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Heitman International Real Estate Securities PTY Limited, Heitman Securities LLC and Heitman UK Limited.
- Heitman International Real Estate Securities PTY Limited ↗CRD 154476
- Heitman Securities LLC ↗CRD 13620
It doesn’t hold client accounts or customer funds itself. Its annual audited report filed with the SEC, March 2026
- Heitman UK Limited
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 10 | $4.9B | 80% |
| Sovereign wealth funds and foreign official institutions | 1 | $622M | 10% |
| State or municipal government entities | 12 | $542M | 9% |
| Corporations or other businesses | 3 | $35M | <1% |
| Banking or thrift institutions | 1 | $0M | 0% |
| Pension and profit sharing plans | 2 | $0M | 0% |
Private funds
Heitman Capital Management LLC reports 5 private funds with $3.5B in gross assets: hedge funds, real estate funds (Form ADV Item 7.B).
Disciplinary disclosures
Heitman Capital Management LLC 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
- Portfolio management for businesses and institutions
- Other services
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 ↗heitman.com ↗
AtlasMembers
The full record on Heitman Capital Management LLC
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 1,250 peers of its type and size
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- Owners and executives, with titles and stakes
- 24 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 Heitman Capital Management LLC manage?
Heitman Capital Management LLC reports $6.1 billion in regulatory assets under management across 13 accounts, 85% of it on a discretionary basis, on its Form ADV filed March 27, 2026.
What kind of firm is Heitman Capital Management LLC?
Heitman Capital Management LLC is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets.
Who are Heitman Capital Management LLC’s clients?
By assets, its largest client types are pooled investment vehicles ($4.9 billion, 10 clients); sovereign wealth funds and foreign official institutions ($622 million, 1 clients); state or municipal government entities ($542 million, 12 clients).
Does Heitman Capital Management LLC manage private funds?
Yes. It reports 5 private funds with $3.5 billion in gross assets, including hedge funds, real estate funds.
Does Heitman Capital Management LLC have any disciplinary history?
Heitman Capital Management LLC 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 Heitman Capital Management LLC’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 (2026-03-27), 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 →