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Private fund adviser

Reciprocal Capital

Alfacap LLC, D/b/a Reciprocal Capital · SEC-registered investment adviser · CRD 285033 · SEC 801-108411

At a glance

Reciprocal Capital is an SEC-registered investment adviser based in United States, with $92 million in regulatory assets under management as of its Form ADV filed March 31, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 4,499th of 4,686 private fund advisers and 15,519th of 17,210 SEC-registered advisers by assets.

reciprocalcapital.comAs filed on Form ADV

Regulatory AUM
$92M
Rank among private fund advisers
#4,499 of 4,686
Rank among all SEC RIAs
#15,519 of 17,210
Clients
7
Accounts
7
Discretionary
0% of AUM
Employees
1
Advisory staff
1
Offices
1

Owners and executives on its Form ADV

Custody and brokerage

Custodian

Reciprocal Capital’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

Reciprocal Capital is a hybrid RIA: 1 of its employees are also registered representatives of a broker-dealer.

Form ADV Part 1 doesn’t name an unaffiliated broker-dealer. The firm’s Part 2A brochure (Item 10) and each adviser’s record on the SEC’s adviser search do.

Other hybrid RIAs

Who it serves

Client typeClientsRegulatory AUMShare
Pooled investment vehicles7$92M100%

Private funds

Reciprocal Capital reports 1 private funds with $0M in gross assets: private equity funds (Form ADV Item 7.B).

Disciplinary disclosures

Reciprocal Capital 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
  • Selecting other advisers
  • Other services

How it’s paid

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

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

AtlasMembers

The full record on Reciprocal Capital

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, 9 years of filings
Locked
Growth over one, three and five years
Locked
Rank against 913 peers of its type and size
Locked
Owners and executives, with titles and stakes
1 namedLocked
Main office, fax and compliance officer
Locked
Filing changes this year, with alerts
1Locked
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 Reciprocal Capital manage?

Reciprocal Capital reports $92 million in regulatory assets under management across 7 accounts, 0% of it on a discretionary basis, on its Form ADV filed March 31, 2026.

What kind of firm is Reciprocal Capital?

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

Who are Reciprocal Capital’s clients?

By assets, its largest client types are pooled investment vehicles ($92 million, 7 clients).

Does Reciprocal Capital manage private funds?

Yes. It reports 1 private funds with $9,605 in gross assets, including private equity funds.

Does Reciprocal Capital have any disciplinary history?

Reciprocal Capital 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 Reciprocal Capital’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 (2026-03-31), 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 →