Asset manager · DES Moines, IA
Principal Real Estate
Principal Real Estate Investors, LLC · SEC-registered investment adviser · CRD 109008 · SEC 801-55618
At a glance
Principal Real Estate is an SEC-registered investment adviser based in DES Moines, Iowa, with $105.6 billion in regulatory assets under management as of its Form ADV filed August 19, 2026. Its largest client group by assets is state or municipal government entities, and it reports 464 individual clients. By Form ADV it is a asset manager, ranked 131st of 3,218 asset managers and 252nd of 17,210 SEC-registered advisers by assets.
Main office 800-787-1621principalam.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $106B
- Rank among asset managers
- #131 of 3,218
- Rank among all SEC RIAs
- #252 of 17,210
- Rank in Iowa
- #4 of 91
- Individual clients
- 464
- High-net-worth clients
- 37
- Accounts
- 681
- Discretionary
- 70% of AUM
- Employees
- 477
- Advisory staff
- 310
- Offices
- 16
Owners and executives on its Form ADV
- Todd E. EverettDirector
- Kamal BhatiaDirector
- Justin T. LangeChief Compliance Officer
- George DjurasovicGeneral Counsel
- Jill M. HittnerChief Financial Officer
- Barbara WenigChief Business Officer
- George P. MarisCIO & Global Head of Equities
Custody and brokerage
Broker-dealer
Affiliated broker-dealer
It names affiliated broker-dealers: Equity FC, LTD., Principal Funds Distributor, Inc., Principal Securities, Inc. and Sami Brokerage LLC.
- Equity FC, LTD.
- Principal Funds Distributor, Inc. ↗CRD 43261
It doesn’t hold client accounts or customer funds itself. Its annual audited report filed with the SEC, March 2026
- Principal Securities, Inc. ↗CRD 1137
- Sami Brokerage LLC ↗CRD 18217
An introducing broker-dealer: its trades clear through National Financial Services (Fidelity), which holds the brokerage accounts. Its annual audited report filed with the SEC, March 2026
Its Form ADV brochure (filed March 2026) names Principal Funds Distributor and Principal Securities as the broker-dealer its advisers are registered with.
Other Financial Industry Activities Some of Principal Real Estate’s staff are registered representatives of PFD and/or PSI.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| State or municipal government entities | 52 | $41B | 39% |
| Insurance companies | 46 | $29B | 28% |
| Investment companies | 16 | $9.7B | 9% |
| Pension and profit sharing plans | 39 | $8.7B | 8% |
| Banking or thrift institutions | 39 | $8.0B | 8% |
| Corporations or other businesses | 8 | $7.2B | 7% |
| Pooled investment vehicles | 6 | $591M | <1% |
| Charitable organizations | 6 | $496M | <1% |
| Sovereign wealth funds and foreign official institutions | 5 | $388M | <1% |
| Individuals | 427 | $113M | <1% |
| High-net-worth individuals | 37 | $74M | <1% |
Private funds
Principal Real Estate reports 18 private funds with $8.8B in gross assets: hedge funds, real estate funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Principal Real Estate answers yes to 2 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 individuals and small businesses
- Portfolio management for investment companies
- 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
Form ADV and brochures on the SEC’s adviser search ↗principalam.com ↗
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The full record on Principal Real Estate
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 213 peers of its type and size
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- Owners and executives, with titles and stakes
- 7 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 2Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Principal Real Estate manage?
Principal Real Estate reports $105.6 billion in regulatory assets under management across 681 accounts, 70% of it on a discretionary basis, on its Form ADV filed August 19, 2026.
What kind of firm is Principal Real Estate?
Principal Real Estate is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals. It reports a bank or thrift among its related persons. A public reporting company controls it.
Who are Principal Real Estate’s clients?
By assets, its largest client types are state or municipal government entities ($41.0 billion, 52 clients); insurance companies ($29.3 billion, 46 clients); investment companies ($9.7 billion, 16 clients).
Does Principal Real Estate manage private funds?
Yes. It reports 18 private funds with $8.8 billion in gross assets, including hedge funds, real estate funds, other private funds.
Does Principal Real Estate have any disciplinary history?
Principal Real Estate answers yes to 2 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 Principal Real Estate’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 (2026-08-19), 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 →