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Private fund adviser · Minneapolis, MN

Norwest Capital Advisors, LLC

SEC-registered investment adviser · CRD 323642 · SEC 801-128598

At a glance

Norwest Capital Advisors, LLC is an SEC-registered investment adviser based in Minneapolis, Minnesota, with $3.8 billion in regulatory assets under management as of its Form ADV filed April 30, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 1,153rd of 4,686 private fund advisers and 2,473rd of 17,210 SEC-registered advisers by assets.

Main office 612-215-1600LinkedInAs filed on Form ADV

Regulatory AUM
$3.8B
Rank among private fund advisers
#1,153 of 4,686
Rank among all SEC RIAs
#2,473 of 17,210
Rank in Minnesota
#38 of 276
Clients
12
Accounts
12
Discretionary
100% of AUM
Employees
40
Advisory staff
28
Offices
2

Owners and executives on its Form ADV

Custody and brokerage

Custodian

Norwest Capital Advisors, 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

No broker-dealer ties

Other RIAs with no broker-dealer ties

Who it serves

Client typeClientsRegulatory AUMShare
Pooled investment vehicles12$3.8B100%

Private funds

Norwest Capital Advisors, LLC reports 12 private funds with $3.0B in gross assets: private equity funds (Form ADV Item 7.B).

Disciplinary disclosures

Norwest Capital Advisors, 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

How it’s paid

  • A percentage of assets under management
  • Performance-based fees

Form ADV and brochures on the SEC’s adviser search ↗

AtlasMembers

The full record on Norwest Capital Advisors, 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, 2 years of filings
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Growth over one, three and five years
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Rank against 1,518 peers of its type and size
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Owners and executives, with titles and stakes
3 namedLocked
Main office, fax and compliance officer
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Filing changes this year, with alerts
2Locked
Open Atlas free

Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.

Background

Questions

How much does Norwest Capital Advisors, LLC manage?

Norwest Capital Advisors, LLC reports $3.8 billion in regulatory assets under management across 12 accounts, 100% of it on a discretionary basis, on its Form ADV filed April 30, 2026.

What kind of firm is Norwest Capital Advisors, LLC?

Norwest Capital Advisors, LLC is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets.

Who are Norwest Capital Advisors, LLC’s clients?

By assets, its largest client types are pooled investment vehicles ($3.8 billion, 12 clients).

Does Norwest Capital Advisors, LLC manage private funds?

Yes. It reports 12 private funds with $3.0 billion in gross assets, including private equity funds.

Does Norwest Capital Advisors, LLC have any disciplinary history?

Norwest Capital Advisors, 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 Norwest Capital Advisors, 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 (2026-04-30), 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 →