Investment adviser · CRD 331481

ALTES CAPITAL, LLC

Investment adviser filing (IA)

· Form ADV filed Mar 5, 2026

Regulatory AUM: $3.19B
Client accounts: 12
Employees: 7
Advisory professionals: 3

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
Other investment advisers	Fewer than 5	$1,939,399,032	60.8%
Charities	Fewer than 5	$1,092,936,000	34.3%
Pooled investment vehicles	5	$123,435,396	3.9%
High-net-worth individuals	Fewer than 5	$26,820,569	0.8%
Insurance companies	Fewer than 5	$6,665,197	0.2%

Filing source

Form ADV 2065666 · Mar 5, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

5 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

ALTES OZ FUND I, LPReal Estate Fund · Last reported Mar 5, 2026$26.5MGross asset value

Form D fundraising filings

Altes OZ Fund I, LP

Fund administrator NAV FUND ADMINISTRATION GROUP OAKBROOK TERRACE, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor CBIZ CPAS PC NEW YORK, New York, United States

Custodian FLAGSTAR BANK, N.A. NEW YORK, New York, United States Related to adviser: No

Prime broker FLAGSTAR BANK, N.A. NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

CBIZ CPAS PC
PCAOB 688

Fund details & source

Fund ID: 805-2023853390
Reported beneficial owners: 38
Minimum commitment: $200K
Form D file number: 021-338007

Form ADV 2065666 · Mar 5, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

PAN ALTES MULTI-STRATEGY, LPHedge Fund · Last reported Mar 5, 2026$23.5MGross asset value

Form D fundraising filings

Pan Altes Multi Strategy LP

Fund administrator NAV FUND ADMINISTRATION GROUP OAKBROOK TERRACE, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor FORVIS MAZARS LLP-USA NEW YORK, New York, United States

Custodian JP MORGAN PRIVATE BANK NEW YORK, New York, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

FORVIS MAZARS LLP-USA
PCAOB 686

Fund details & source

Fund ID: 805-5371047096
Reported beneficial owners: 12
Minimum commitment: $1M
Form D file number: 021-81719

Form ADV 2065666 · Mar 5, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ALTES OZ FUND II, LPReal Estate Fund · Last reported Mar 5, 2026$17.7MGross asset value

Form D fundraising filings

Altes OZ Fund II, LP

Fund administrator NAV FUND ADMINISTRATION GROUP OAKBROOK TERRACE, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor CBIZ CPAS P.C. NEW YORK, New York, United States

Custodian FLAGSTAR BANK, NA NEW YORK, New York, United States Related to adviser: No

Prime broker FLAGSTAR BANK, NA NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

CBIZ CPAS P.C.
PCAOB 688

Fund details & source

Fund ID: 805-2851597645
Reported beneficial owners: 25
Minimum commitment: $200K
Form D file number: 021-473749

Form ADV 2065666 · Mar 5, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

PAN ALTES MULTI-STRATEGY, LTDHedge Fund · Last reported Mar 5, 2026$14.5MGross asset value

Form D fundraising filings

Pan Altes Multi Strategy, Ltd.

Fund administrator NAV FUND ADMINISTRATION GROUP OAKBROOK TERRACE, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor FORVIS MAZARS LLP-USA NEW YORK, New York, United States

Custodian JP MORGAN PRIVATE BANK NEW YORK, New York, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

FORVIS MAZARS LLP-USA
PCAOB 686

Fund details & source

Fund ID: 805-4198506840
Reported beneficial owners: 3
Minimum commitment: $1M
Form D file number: 021-122622

Form ADV 2065666 · Mar 5, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

AREC HIGHMORE REAL ESTATE INCOME FUND, LPReal Estate Fund · Last reported Jul 12, 2024$52.9MGross asset value

Fund administrator APEX FUND SERVICES CHARLOTTE, North Carolina, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor MARCUM LLP NEW YORK, New York, United States

Custodian FIRST REPUBLIC SECURITIES COMPANY, LLC SAN FRANCISCO, California, United States Related to adviser: No

Prime broker FIRST REPUBLIC SECURITIES COMPANY, LLC SAN FRANCISCO, California, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

MARCUM LLP
PCAOB 688

FIRST REPUBLIC SECURITIES COMPANY, LLC
SEC 8-52973

FIRST REPUBLIC SECURITIES COMPANY, LLC
CRD 105108 · SEC 8-52973

Fund details & source

Fund ID: 805-7036285821
Reported beneficial owners: 10
Minimum commitment: $200K
Form D file number: 021-472363

Form ADV 1888956 · Jul 12, 2024 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Mar 5, 2026. View historical filings

Reported services

Individual portfolio management · Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

CRD 331481

Filing source

Form ADV 2065666 · Mar 5, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.