Investment adviser · CRD 311710

QHP CAPITAL, L.P.

Investment adviser filing (IA)

RALEIGH, NC, United States · Form ADV filed Sep 15, 2026

Regulatory AUM
$4.57B
Form ADV · Item 5.F
Client accounts
15
Accounts, not individual clients
Employees
25
Reported in this filing
Advisory professionals
17
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 vehicles15$4,568,233,295100.0%
Filing source

Form ADV 2132626 · Sep 15, 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

19 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.

QHP SAPPHIRE SPV, L.P.Private Equity Fund · Last reported Sep 15, 2026$1.12BGross asset value

Form D fundraising filings

QHP Sapphire SPV, L.P.

Fund administrator PINNACLE FUND SERVICES, LTD. VANCOUVER, Canada Investor statements: Yes (provided to all investors) Related to adviser: Yes
Auditor BDO USA, P.C. RALEIGH, North Carolina, United States
Custodian FIRST CITIZENS BANCSHARES, INC. RALEIGH, North Carolina, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK, New York, United States Related to adviser: No
Marketer GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No
Marketer STIFEL, NICOLAUS & COMPANY, INCORPORATED STAMFORD, Connecticut, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

BDO USA, P.C.
PCAOB 243

FIRST CITIZENS BANCSHARES, INC.
LEI 549300N3Z00ZHE2XC526

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 801-16048

STIFEL, NICOLAUS & COMPANY, INCORPORATED
CRD 793 · SEC 801-10746

Fund details & source
Fund ID
805-7385008941
Reported beneficial owners
79
Minimum commitment
$5M
Form D file number
021-561316

Form ADV 2132626 · Sep 15, 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.

NQ PE ORANGE CO-INVEST, L.P.Private Equity Fund · Last reported Sep 15, 2026$731MGross asset value

Form D fundraising filings

NQ PE Orange Co-Invest, L.P.

Fund administrator PINNACLE FUND SERVICES, LTD. VANCOUVER, Canada Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor BDO USA, P.C. RALEIGH, North Carolina, United States
Custodian DOGWOOD STATE BANK RALEIGH, North Carolina, United States Related to adviser: No
Custodian FIRST CITIZENS BANCSHARES, INC RALEIGH, North Carolina, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 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

BDO USA, P.C.
PCAOB 243

DOGWOOD STATE BANK
LEI 549300D3SGJ9UCUF2779

FIRST CITIZENS BANCSHARES, INC
LEI 549300N3Z00ZHE2XC526

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-1694051727
Reported beneficial owners
32
Minimum commitment
$5M
Form D file number
021-409262

Form ADV 2132626 · Sep 15, 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.

NOVAQUEST PRIVATE EQUITY FUND II, LPPrivate Equity Fund · Last reported Sep 15, 2026$589MGross asset value

Form D fundraising filings

NovaQuest Private Equity Fund II, L.P.

Fund administrator PINNACLE FUND SERVICES, LTD. VANCOUVER, Canada Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor BDO USA, P.C. RALEIGH, North Carolina, United States
Custodian DOGWOOD STATE BANK RALEIGH, North Carolina, United States Related to adviser: No
Custodian FIRST CITIZENS BANCSHARES, INC RALEIGH, North Carolina, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK, New York, United States Related to adviser: No
Marketer STIFEL, NICOLAUS & COMPANY, INCORPORATED STAMFORD, Connecticut, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

BDO USA, P.C.
PCAOB 243

DOGWOOD STATE BANK
LEI 549300D3SGJ9UCUF2779

FIRST CITIZENS BANCSHARES, INC
LEI 549300N3Z00ZHE2XC526

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

STIFEL, NICOLAUS & COMPANY, INCORPORATED
CRD 793 · SEC 801-10746

Fund details & source
Fund ID
805-6245895333
Reported beneficial owners
58
Minimum commitment
$5M
Form D file number
021-402425

Form ADV 2132626 · Sep 15, 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.

QHP ORANGE CO-INVEST II, L.P.Private Equity Fund · Last reported Sep 15, 2026$411MGross asset value

Form D fundraising filings

QHP Orange Co-Invest II, L.P.

Fund administrator PINNACLE FUND SERVICES, LTD. VANCOUVER, Canada Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor BDO USA, P.C. RALEIGH, North Carolina, United States
Custodian FIRST CITIZENS BANCSHARES, INC. RALEIGH, North Carolina, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 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

BDO USA, P.C.
PCAOB 243

FIRST CITIZENS BANCSHARES, INC.
LEI 549300N3Z00ZHE2XC526

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-9830262355
Reported beneficial owners
40
Minimum commitment
$5M
Form D file number
021-540259

Form ADV 2132626 · Sep 15, 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.

NOVAQUEST PRIVATE EQUITY FUND I, L.P.Private Equity Fund · Last reported Sep 15, 2026$378MGross asset value

Form D fundraising filings

NovaQuest Private Equity Fund I, L.P.

Fund administrator PINNACLE FUND SERVICES, LTD. VANCOUVER, Canada Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor BDO CAYMAN LTD WEST BAY, GRAND CAYMAN, Cayman Islands
Custodian DOGWOOD STATE BANK RALEIGH, North Carolina, United States Related to adviser: No
Custodian FIRST CITIZENS BANCSHARES, INC RALEIGH, North Carolina, United States Related to adviser: No
Marketer STIFEL, NICOLAUS & COMPANY, INCORPORATED STAMFORD, Connecticut, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

BDO CAYMAN LTD
PCAOB 2162

DOGWOOD STATE BANK
LEI 549300D3SGJ9UCUF2779

FIRST CITIZENS BANCSHARES, INC
LEI 549300N3Z00ZHE2XC526

STIFEL, NICOLAUS & COMPANY, INCORPORATED
CRD 793 · SEC 801-10746

Fund details & source
Fund ID
805-6354131046
Reported beneficial owners
30
Minimum commitment
$5M
Form D file number
021-271239

Form ADV 2132626 · Sep 15, 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.

QHP MILKY WAY SPV, L.P.Private Equity Fund · Last reported Sep 15, 2026$364MGross asset value

Form D fundraising filings

QHP Milky Way SPV, L.P.

Fund administrator PINNACLE FUND SERVICES, LTD. VANCOUVER, Canada Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor BDO CAYMAN LTD RALEIGH, North Carolina, United States
Custodian DOGWOOD STATE BANK RALEIGH, North Carolina, United States Related to adviser: No
Custodian FIRST CITIZENS BANCSHARES, INC RALEIGH, North Carolina, 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

BDO CAYMAN LTD
PCAOB 2162

DOGWOOD STATE BANK
LEI 549300D3SGJ9UCUF2779

FIRST CITIZENS BANCSHARES, INC
LEI 549300N3Z00ZHE2XC526

Fund details & source
Fund ID
805-7918306180
Reported beneficial owners
21
Minimum commitment
$50K
Form D file number
021-457342

Form ADV 2132626 · Sep 15, 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.

QHP PRIVATE EQUITY FUND III - A, L.P.Private Equity Fund · Last reported Sep 15, 2026$254MGross asset value

Form D fundraising filings

QHP Private Equity Fund III-A, L.P.

Fund administrator PINNACLE FUND SERVICES, LTD. VANCOUVER, Canada Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor BDO USA, P.C. RALEIGH, North Carolina, United States
Custodian FIRST CITIZENS BANCSHARES, INC. RALEIGH, North Carolina, United States Related to adviser: No
Marketer STIFEL, NICOLAUS & COMPANY, INCORPORATED STAMFORD, Connecticut, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

BDO USA, P.C.
PCAOB 243

FIRST CITIZENS BANCSHARES, INC.
LEI 549300N3Z00ZHE2XC526

STIFEL, NICOLAUS & COMPANY, INCORPORATED
CRD 793 · SEC 801-10746

Fund details & source
Fund ID
805-9100246866
Reported beneficial owners
22
Minimum commitment
$5M
Form D file number
021-532370

Form ADV 2132626 · Sep 15, 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: Sep 15, 2026. View historical filings

Reported services

Pooled investment vehicle management

Compensation

Percentage of assets

Principal office

4000 CENTER AT NORTH HILLS STREET, STE. 1000
RALEIGH, NC, 27609, United States

CRD 311710

Filing source

Form ADV 2132626 · Sep 15, 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.