Investment adviser · CRD 160892

CARMEL PARTNERS

Investment adviser filing (IA)

CARMEL MANAGEMENT III, LLC

SAN FRANCISCO, CA, United States · Form ADV filed Mar 31, 2026

Regulatory AUM
$7.98B
Form ADV · Item 5.F
Client accounts
8
Accounts, not individual clients
Employees
164
Reported in this filing
Advisory professionals
11
Investment advisory functions

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client typeClientsRegulatory assetsShare of AUM
Pooled investment vehicles8$7,984,384,000100.0%
Filing source

Form ADV 2047190 · Mar 31, 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

11 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.

CARMEL PARTNERS INVESTMENT FUND VIII, L.P.Real Estate Fund · Last reported Mar 31, 2026$2.09BGross asset value

Form D fundraising filings

Carmel Partners Investment Fund VIII, L.P.

Fund administrator CBRE LOS ANGELES, California, United States Investor statements: No (provided to no investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS SAN FRANCISCO, California, United States
Custodian J.P. MORGAN SECURITIES LLC NEW YORK, New York, United States Related to adviser: No
Custodian PNC WEALTH MANAGEMENT LLC PITTSBURGH, Pennsylvania, 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

PRICEWATERHOUSECOOPERS
PCAOB 238

J.P. MORGAN SECURITIES LLC
SEC 8-35008

PNC WEALTH MANAGEMENT LLC
SEC 8-66195 · LEI 25-1435979

Fund details & source
Fund ID
805-7243712229
Reported beneficial owners
100
Minimum commitment
$5M
Form D file number
021-421714

Form ADV 2047190 · Mar 31, 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.

CARMEL PARTNERS INVESTMENT FUND VII, LPReal Estate Fund · Last reported Mar 31, 2026$1.6BGross asset value

Form D fundraising filings

Carmel Partners Investment Fund VII, L.P.

Fund administrator CBRE LOS ANGELES, California, United States Investor statements: No (provided to no investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS SAN FRANCISCO, California, United States
Custodian CITIGROUP GLOBAL MARKETS INC. NEW YORK, New York, United States Related to adviser: No
Custodian PNC WEALTH MANAGEMENT LLC PITTSBURGH, Pennsylvania, 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

PRICEWATERHOUSECOOPERS
PCAOB 238

CITIGROUP GLOBAL MARKETS INC.
SEC 8-8177

PNC WEALTH MANAGEMENT LLC
SEC 8-66195 · LEI 25-1435979

Fund details & source
Fund ID
805-5323543341
Reported beneficial owners
111
Minimum commitment
$5M
Form D file number
021-319217

Form ADV 2047190 · Mar 31, 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.

CARMEL PARTNERS INVESTMENT FUND VI, LPReal Estate Fund · Last reported Mar 31, 2026$1.16BGross asset value

Form D fundraising filings

Carmel Partners Investment Fund VI, L.P.

Fund administrator CBRE LOS ANGELES, California, United States Investor statements: No (provided to no investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS SAN FRANCISCO, California, United States
Custodian CITIGROUP GLOBAL MARKETS INC. NEW YORK, New York, United States Related to adviser: No
Custodian PNC WEALTH MANAGEMENT LLC PITTSBURGH, Pennsylvania, 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

PRICEWATERHOUSECOOPERS
PCAOB 238

CITIGROUP GLOBAL MARKETS INC.
SEC 8-8177

PNC WEALTH MANAGEMENT LLC
SEC 8-66195 · LEI 25-1435979

Fund details & source
Fund ID
805-1734658253
Reported beneficial owners
81
Minimum commitment
$5M
Form D file number
021-253195

Form ADV 2047190 · Mar 31, 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.

CARMEL PARTNERS INVESTMENT FUND IX, L.P.Real Estate Fund · Last reported Mar 31, 2026$1.12BGross asset value

Form D fundraising filings

Carmel Partners Investment Fund IX, L.P.

Auditor PRICEWATERHOUSECOOPERS SAN FRANCISCO, California, United States
Custodian PNC WEALTH MANAGEMENT LLC PITTSBURGH, Pennsylvania, United States Related to adviser: No
Marketer NH INVESTMENT & SECURITIES CO LTD SEOUL, Korea, South Related to adviser: No
Marketer PJT PARTNERS LP 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
No
External marketing
Yes

PRICEWATERHOUSECOOPERS
PCAOB 238

PNC WEALTH MANAGEMENT LLC
SEC 8-66195 · LEI 25-1435979

PJT PARTNERS LP
CRD 171058 · SEC 8-69442

Fund details & source
Fund ID
805-1781450544
Reported beneficial owners
56
Minimum commitment
$5M
Form D file number
021-511694

Form ADV 2047190 · Mar 31, 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.

CARMEL PARTNERS INVESTMENT FUND V, LPReal Estate Fund · Last reported Mar 31, 2026$1.1BGross asset value

Form D fundraising filings

Carmel Partners Investment Fund V, L.P.

Auditor PRICEWATERHOUSECOOPERS SAN FRANCISCO, California, United States
Custodian CITIGROUP GLOBAL MARKETS INC. NEW YORK, New York, United States Related to adviser: No
Custodian PNC WEALTH MANAGEMENT LLC PITTSBURGH, Pennsylvania, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
No
External marketing
No

PRICEWATERHOUSECOOPERS
PCAOB 238

CITIGROUP GLOBAL MARKETS INC.
SEC 8-8177

PNC WEALTH MANAGEMENT LLC
SEC 8-66195 · LEI 25-1435979

Fund details & source
Fund ID
805-5423598251
Reported beneficial owners
166
Minimum commitment
$5M
Form D file number
021-210758

Form ADV 2047190 · Mar 31, 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.

CP VIII WESTLAKE JV, LPReal Estate Fund · Last reported Mar 31, 2026$495MGross asset value
Fund administrator CBRE LOS ANGELES, California, United States Investor statements: No (provided to no investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS SAN FRANCISCO, California, United States
Custodian PNC WEALTH MANAGEMENT LLC PITTSBURGH, Pennsylvania, 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

PRICEWATERHOUSECOOPERS
PCAOB 238

PNC WEALTH MANAGEMENT LLC
SEC 8-66195 · LEI 25-1435979

Fund details & source
Fund ID
805-1857683539
Reported beneficial owners
15
Minimum commitment
$5M

Form ADV 2047190 · Mar 31, 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.

CP VIII CO-INVESTMENT JV, LPReal Estate Fund · Last reported Mar 31, 2026$425MGross asset value
Fund administrator CBRE LOS ANGELES, California, United States Investor statements: No (provided to no investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS SAN FRANCISCO, California, United States
Custodian PNC WEALTH MANAGEMENT LLC PITTSBURGH, Pennsylvania, 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

PRICEWATERHOUSECOOPERS
PCAOB 238

PNC WEALTH MANAGEMENT LLC
SEC 8-66195 · LEI 25-1435979

Fund details & source
Fund ID
805-2850823564
Reported beneficial owners
4
Minimum commitment
$5M

Form ADV 2047190 · Mar 31, 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.

Services & filing details

Most recent filing: Mar 31, 2026. View historical filings

Reported services

Pooled investment vehicle management

Compensation

Percentage of assets · Performance-based

Principal office

1000 SANSOME STREET, FIRST FLOOR
SAN FRANCISCO, CA, 94111, United States

CRD 160892

Filing source

Form ADV 2047190 · Mar 31, 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.