Private fund adviser · Minneapolis, MN
Thrivent Private Investments
Thrivent Investment Capital Advisors, LLC · SEC-registered investment adviser · CRD 338378 · SEC 801-134357
At a glance
Thrivent Private Investments is an SEC-registered investment adviser based in Minneapolis, Minnesota, with $22.8 billion in regulatory assets under management as of its Form ADV filed March 30, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 331st of 4,686 private fund advisers and 805th of 17,210 SEC-registered advisers by assets.
Main office 800-847-4836thriventprivateinvestments.comAs filed on Form ADV
- Regulatory AUM
- $23B
- Rank among private fund advisers
- #331 of 4,686
- Rank among all SEC RIAs
- #805 of 17,210
- Rank in Minnesota
- #15 of 276
- Clients
- 47
- Accounts
- 47
- Discretionary
- 100% of AUM
- Employees
- 66
- Advisory staff
- 24
- Offices
- 1
Owners and executives on its Form ADV
- Gregory R. AndersonElected Manager and President
- Jenna K. JensonChief Legal Officer and Secretary
- Jerome H. BordenChief Compliance Officer
- David S. RoyalElected Manager
- Michael W. KremenakElected Manager
- Andrew Dylan NorgardTreasurer
Custody and brokerage
Custodian
Thrivent Private Investments’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
Thrivent Private Investments is a hybrid RIA: 8 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Thrivent Distributors, LLC and Thrivent Investment Management Inc..
- Thrivent Distributors, LLC ↗CRD 179512
- Thrivent Investment Management Inc. ↗CRD 18387
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 47 | $23B | 100% |
Private funds
Thrivent Private Investments reports 36 private funds with $21B in gross assets: private equity funds (Form ADV Item 7.B).
Disciplinary disclosures
Thrivent Private Investments 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 ↗thriventprivateinvestments.com ↗
AtlasMembers
The full record on Thrivent Private Investments
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, 1 years of filings
- Locked
- Growth over one, three and five years
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- Rank against 605 peers of its type and size
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- Owners and executives, with titles and stakes
- 6 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 4Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Thrivent Private Investments manage?
Thrivent Private Investments reports $22.8 billion in regulatory assets under management across 47 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 30, 2026.
What kind of firm is Thrivent Private Investments?
Thrivent Private Investments is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets. It reports a bank or thrift among its related persons.
Who are Thrivent Private Investments’s clients?
By assets, its largest client types are pooled investment vehicles ($22.8 billion, 47 clients).
Does Thrivent Private Investments manage private funds?
Yes. It reports 36 private funds with $20.9 billion in gross assets, including private equity funds.
Does Thrivent Private Investments have any disciplinary history?
Thrivent Private Investments 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 Thrivent Private Investments’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 (2026-03-30), 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 →