Investment adviser · CRD 113358

WATER ISLAND CAPITAL, LLC

Investment adviser filing (IA)

WATER ISLAND CAPITAL,LLC

NEW YORK, NY, United States · Form ADV filed Mar 30, 2026

Regulatory AUM: $1.22B
Client accounts: 7
Employees: 26
Advisory professionals: 7

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
Investment companies	6	$1,190,555,526	97.7%
Pooled investment vehicles	1	$27,747,261	2.3%

Filing source

Form ADV 2049066 · Mar 30, 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.

WATER ISLAND MERGER ARBITRAGE INSTITUTIONAL COMMINGLED MASTER FUND, LPHedge Fund · Last reported Mar 29, 2022$141MGross asset value

Feeder funds

WATER ISLAND MERGER ARBITRAGE INSTITUTIONAL COMMINGLED FUND, LP

Fund administrator STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor EISNERAMPER NEW YORK, New York, United States

Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No

Prime broker MORGAN STANLEY & CO. LLC 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

EISNERAMPER
PCAOB 274

MORGAN STANLEY & CO. LLC
SEC 8-15869

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Fund details & source

Fund ID: 805-2959939521
Reported beneficial owners: 5
Minimum commitment: $50M
Form D file number: 021-306298

Form ADV 1606756 · Mar 29, 2022 · 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.

WATER ISLAND MERGER ARBITRAGE INSTITUTIONAL COMMINGLED FUND, LPOther Private Fund · Last reported Nov 26, 2019$116MGross asset value

Form D fundraising filings

Water Island Merger Arbitrage Institutional Commingled Fund, LP

Fund administrator STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor EISNER AMPER NEW YORK, New York, United States

Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No

Prime broker MORGAN STANLEY & CO. LLC 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

EISNER AMPER
PCAOB 274

MORGAN STANLEY & CO. LLC
SEC 8-15869

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Fund details & source

Fund ID: 805-1059321991
Reported beneficial owners: 3
Minimum commitment: $50M
Form D file number: 021-306298

Form ADV 1358578 · Nov 26, 2019 · 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.

WATER ISLAND EVENT-DRIVEN FUND, LLCHedge Fund · Last reported Mar 27, 2020$6.95MGross asset value

Form D fundraising filings

Water Island Event-Driven Fund, LLC

Fund administrator SEI INVESTMENTS COMPANY OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor WARREN AVERETT ATLANTA, Georgia, United States

Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No

Prime broker MORGAN STANLEY & CO. LLC 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

WARREN AVERETT
PCAOB 2226

MORGAN STANLEY & CO. LLC
SEC 8-15869

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Fund details & source

Fund ID: 805-1872852231
Reported beneficial owners: 7
Minimum commitment: $1M
Form D file number: 021-360958

Form ADV 1386961 · Mar 27, 2020 · 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.

WATER ISLAND LEVARB FUND, LPHedge Fund · Last reported Mar 30, 2023$2.44MGross asset value

Form D fundraising filings

Water Island LevArb Fund, LP

Fund administrator SEI GLOBAL SERVICES, INC. OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor WARREN AVERETT ATLANTA, Georgia, United States

Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No

Prime broker MORGAN STANLEY & CO. LLC 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

WARREN AVERETT
PCAOB 2226

MORGAN STANLEY & CO. LLC
SEC 8-15869

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Fund details & source

Fund ID: 805-1270304054
Reported beneficial owners: 3
Minimum commitment: $250K
Form D file number: 021-298418

Form ADV 1710563 · Mar 30, 2023 · 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.

WATER ISLAND GLOBAL MASTER, LPHedge Fund · Last reported Mar 29, 2018$318KGross asset value

Fund administrator SEI INVESTMENTS COMPANY OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor BDO NEW YORK, New York, United States

Custodian GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No

Prime broker GOLDMAN SACHS & CO. LLC 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

BDO
PCAOB 243

GOLDMAN SACHS & CO. LLC
SEC 8-129

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 8-129

Fund details & source

Fund ID: 805-3561402595
Reported beneficial owners: 1
Minimum commitment: $1M

Form ADV 1200160 · Mar 29, 2018 · 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 30, 2026. View historical filings

Reported services

Investment company portfolio management · Pooled investment vehicle management

Compensation

Percentage of assets · Performance-based

Principal office

104 5TH AVENUE, 9TH FLOOR
NEW YORK, NY, 10011-6901, United States

CRD 113358

Filing source

Form ADV 2049066 · Mar 30, 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.