Asset manager · New York, NY
Water Island Capital, LLC
Water Island Capital,llc · SEC-registered investment adviser · CRD 113358 · SEC 801-57341
At a glance
Water Island Capital, LLC is an SEC-registered investment adviser based in New York, New York, with $1.2 billion in regulatory assets under management as of its Form ADV filed March 30, 2026. Its largest client group by assets is investment companies. By Form ADV it is a asset manager, ranked 1,260th of 3,218 asset managers and 4,815th of 17,210 SEC-registered advisers by assets.
Main office 800-560-8210waterislandcapital.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.2B
- Rank among asset managers
- #1,260 of 3,218
- Rank among all SEC RIAs
- #4,815 of 17,210
- Rank in New York
- #1,071 of 2,591
- Clients
- 7
- Accounts
- 7
- Discretionary
- 100% of AUM
- Employees
- 26
- Advisory staff
- 7
- Offices
- 2
Owners and executives on its Form ADV
- Jonathon T. HickeySenior Managing Partner, Chief Operating Officer, and Management Committee Member
- John S. OrricoManaging Member, Co-Chief Investment Officer, and Management Committee Member
- Justin M. DunleavyManagement Committee Member
- Philip E. ChannenChief Compliance Officer
- Eric M. CasadeiManagement Committee Member
- Christopher J. PlunkettManagement Committee Member
- Matthew J. OsowieckiCo-Chief Investment Officer and Management Committee Member
- Carolyn M. BunticManagement Committee Member
Custody and brokerage
Custodian
Water Island Capital, 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
Hybrid RIA
Water Island Capital, LLC is a hybrid RIA: 7 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed March 2026) names Alps Distributors as the broker-dealer its advisers are registered with.
lytics , and Carolyn Buntic, Water Island’s Senior Director of Strategic Relat ionships, are members of the Adviser’s Management Committee, and registered representative s of the distributor of The Arbitrage Funds (ALPS Distributors Inc.).
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Investment companies | 6 | $1.2B | 98% |
| Pooled investment vehicles | 1 | $28M | 2% |
Disciplinary disclosures
Water Island Capital, LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for investment companies
- 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 ↗waterislandcapital.com ↗
AtlasMembers
The full record on Water Island Capital, 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, ten years of filings
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- Growth over one, three and five years
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- Rank against 972 peers of its type and size
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- Owners and executives, with titles and stakes
- 8 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Water Island Capital, LLC manage?
Water Island Capital, LLC reports $1.2 billion in regulatory assets under management across 7 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 30, 2026.
What kind of firm is Water Island Capital, LLC?
Water Island Capital, LLC is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals.
Who are Water Island Capital, LLC’s clients?
By assets, its largest client types are investment companies ($1.2 billion, 6 clients); pooled investment vehicles ($28 million, 1 clients).
Does Water Island Capital, LLC have any disciplinary history?
Water Island Capital, 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 Water Island Capital, 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 (2026-03-30), 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 →