Private fund adviser · New York, NY
Theorem
Theorem Partners LLC · SEC-registered investment adviser · CRD 281280 · SEC 801-108607
At a glance
Theorem is an SEC-registered investment adviser based in New York, New York, with $1.0 billion in regulatory assets under management as of its Form ADV filed October 1, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 2,276th of 4,686 private fund advisers and 5,289th of 17,210 SEC-registered advisers by assets.
Main office 646-214-8587pagaya.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.0B
- Rank among private fund advisers
- #2,276 of 4,686
- Rank among all SEC RIAs
- #5,289 of 17,210
- Rank in New York
- #1,133 of 2,591
- Clients
- 3
- Accounts
- 4
- Discretionary
- 100% of AUM
- Employees
- 121
- Advisory staff
- 3
- Offices
- 1
Owners and executives on its Form ADV
- Nicholas A. WilsonChief Compliance Officer
- Eric J. WatsonChief Legal Officer
- Edward J. MallonChief Executive Officer and Chief Investment Officer
- Balasubramanian PanchanadeswaranChief Operating Officer
- Jonathan I. DobresChief Financial Officer
Custody and brokerage
2 custodians
- Inspira Financial Trust$6M87%
- Wells Fargo$1M13%
Other RIAs using Inspira Financial TrustOther multi-custodian RIAs
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 3 | $1.0B | 99% |
| Charitable organizations | – | $7M | <1% |
Private funds
Theorem reports 3 private funds with $1.0B in gross assets: hedge funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Theorem 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 pooled investment vehicles
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗pagaya.com ↗
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The full record on Theorem
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
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- Growth over one, three and five years
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- Rank against 2,143 peers of its type and size
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- Owners and executives, with titles and stakes
- 5 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 Theorem manage?
Theorem reports $1.0 billion in regulatory assets under management across 4 accounts, 100% of it on a discretionary basis, on its Form ADV filed October 1, 2026.
What kind of firm is Theorem?
Theorem 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 Theorem’s clients?
By assets, its largest client types are pooled investment vehicles ($1.0 billion, 3 clients); charitable organizations ($7 million).
Does Theorem manage private funds?
Yes. It reports 3 private funds with $1.0 billion in gross assets, including hedge funds, other private funds.
Does Theorem have any disciplinary history?
Theorem 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 Theorem’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 (2026-06-18), 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 →