RA CAPITAL MANAGEMENT, LP: Investment Adviser Form ADV Filing

How this adviser has changed

Annual filings

Regulatory assets under management

Up to five fiscal years, using the latest annual update available at the selected filing date. Asset changes can reflect acquisitions, client flows, and valuations; they are not investment returns.

Annual adviser history and sources
Fiscal year	Regulatory AUM	Employees	Filed
2021	$10,147,001,376	113	Mar 31, 2022
2022	$9,650,336,033	122	Mar 31, 2023
2023	$11,323,065,361	130	Mar 29, 2024
2024	$12,629,842,282	160	Mar 31, 2025
2025	$16,401,931,385	185	Mar 31, 2026

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
Pooled investment vehicles	12	$16,339,781,065	99.6%
Corporations & businesses	Fewer than 5	$62,150,320	0.4%

Filing source

Form ADV 2086721 · Mar 31, 2026 · Item 5.D

Reported by RA CAPITAL MANAGEMENT, LP (CRD 160174).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Private funds & service providers

1 selected fund records

Largest reported gross asset value first; unreported values last. Gross asset value is fund-level disclosure, distinct from adviser AUM and Form D fundraising. Master and feeder funds may overlap.

View all funds in this filing

RA CAPITAL PLANETARY HEALTH FUND, LPVenture Capital Fund · Master$118MGross asset value

Form D fundraising filings

View filings for the issuers linked by this fund’s reported Form D file numbers.

Fund administrator SS&C TECHNOLOGIES, INC. WINDSOR, Connecticut, United States Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor KPMG BOSTON, Massachusetts, United States Other funds reporting this name →

Custodian NATIONAL FINANCIAL SERVICES LLC BOSTON, Massachusetts, United States Related to adviser: No Other funds reporting this name →

Prime broker NATIONAL FINANCIAL SERVICES LLC BOSTON, Massachusetts, United States Other funds reporting this name →

Provider details

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

KPMG
PCAOB 185

NATIONAL FINANCIAL SERVICES LLC
SEC 8-26740

NATIONAL FINANCIAL SERVICES LLC
CRD 13041 · SEC 8-26740

Fund details & source

Fund ID: 805-9699979294
Reported beneficial owners: 32
Minimum commitment: $0
Form D file number: 021-492107
Form D file number: 021-492108

Form ADV 2086721 · Mar 31, 2026 · Schedule D 7.B.(1)

Reported by RA CAPITAL MANAGEMENT, LP (CRD 160174).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Services & filing details

Showing values from the selected filing. Latest observed filing does not establish current registration status.

What changed?

Since Aug 27, 2025 · previous imported filing

Regulatory AUM$12,629,842,282 → $16,401,931,385
Client accounts11 → 13
Employees160 → 185

Filing source

Form ADV 2086721 · Mar 31, 2026 · Items 1 & 5

Reported by RA CAPITAL MANAGEMENT, LP (CRD 160174).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Management of assets

Discretionary: $16.4B
Non-discretionary: $0

Reported services

Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

200 BERKELEY STREET, 18TH FLOOR
BOSTON, MA, 02116, United States

CRD 160174

Filing source

Form ADV 2086721 · Mar 31, 2026 · Items 1 & 5

Reported by RA CAPITAL MANAGEMENT, LP (CRD 160174).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.