Data / Investment advisers / Private funds / Minnesota
Investment advisers in Minnesota that manage private funds: 75 firms
75 investment advisers with a main office in Minnesota report 541 private funds in Form ADV item 7.B.(1), in the SEC's file of November 2, 2026. The adviser with the most is AB Carval Investors, LP.
SpecStream is the live web data engine for teams and agents. It reads the SEC's Form ADV files every month, and this page is that reading, keyed on the CRD number. Ask for the advisers you track by state, city, size, client type or private funds, and new registrations and filings arrive in your sheet, CRM, Slack or agent as the SEC publishes them.
- 75Advisers
- 541Private funds
- 17Exempt reporting advisers
- $408 billionGross assets of private funds
- November 2, 2026File date
Advisers by private funds
Ranked by the number of private funds the adviser reports in Form ADV item 7.B.(1). Each row links to the firm page where it has one, and to its SEC record.
| Adviser | City | State | Private funds | Hedge | Private equity | Venture capital | Real estate | Fund gross assets | AUM | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| AB Carval Investors, LP | Minneapolis | MN | 64 | 64 | Not listed | Not listed | Not listed | $11.39 billion | $18.44 billion | adviserinfo.sec.gov |
| Castlelake, L.P. | Minneapolis | MN | 46 | 3 | 35 | Not listed | Not listed | $35.07 billion | $35.29 billion | adviserinfo.sec.gov |
| Thrivent Private Investments | Minneapolis | MN | 36 | Not listed | 36 | Not listed | Not listed | $20.85 billion | $22.78 billion | adviserinfo.sec.gov |
| Proterra Investment Partners LP | Minneapolis | MN | 27 | Not listed | 27 | Not listed | Not listed | $2.89 billion | $3.71 billion | adviserinfo.sec.gov |
| Truehelm, LLC | Bloomington | MN | 19 | Not listed | 19 | Not listed | Not listed | $1.28 billion | $1.28 billion | adviserinfo.sec.gov |
| Sit Fixed Income Advisors II, LLC | Minneapolis | MN | 18 | 14 | Not listed | Not listed | Not listed | $910.2 million | $14.97 billion | adviserinfo.sec.gov |
| Rally Ventures Management, LLC | Minneapolis | MN | 18 | Not listed | Not listed | 18 | Not listed | $712 million | Not listed | adviserinfo.sec.gov |
| Carval Clo Management LLC | Minneapolis | MN | 17 | Not listed | Not listed | Not listed | Not listed | $7.30 billion | $7.30 billion | adviserinfo.sec.gov |
| Arthur Ventures | Minneapolis | MN | 17 | Not listed | 2 | 15 | Not listed | $2.56 billion | $2.56 billion | adviserinfo.sec.gov |
| Yukon Partners Management, L.L.C. | Minneapolis | MN | 17 | Not listed | 17 | Not listed | Not listed | $1.67 billion | $1.75 billion | adviserinfo.sec.gov |
| North Sky Capital, LLC | Wayzata | MN | 15 | Not listed | 1 | 7 | Not listed | $1.11 billion | $986.1 million | adviserinfo.sec.gov |
| RBC Global Asset Management (U.S.) Inc. | Minneapolis | MN | 14 | 5 | Not listed | Not listed | Not listed | $7.51 billion | $104.49 billion | adviserinfo.sec.gov |
| Norwest Capital Advisors, LLC | Minneapolis | MN | 12 | Not listed | 12 | Not listed | Not listed | $3.00 billion | $3.84 billion | adviserinfo.sec.gov |
| Shoreview Industries V, LLC | Minneapolis | MN | 11 | Not listed | 11 | Not listed | Not listed | $1.17 billion | $1.17 billion | adviserinfo.sec.gov |
| Whitebox Advisors LLC | Minneapolis | MN | 10 | 5 | Not listed | Not listed | Not listed | $15.74 billion | $15.74 billion | adviserinfo.sec.gov |
| Okabena Investment Services Inc | Minneapolis | MN | 10 | 10 | Not listed | Not listed | Not listed | $1.44 billion | $2.12 billion | adviserinfo.sec.gov |
| Deepwater Asset Management, LLC | Minneapolis | MN | 10 | 2 | Not listed | 8 | Not listed | $314.2 million | $566.5 million | adviserinfo.sec.gov |
| Sightline Partners LLC | Bloomington | MN | 9 | Not listed | 9 | Not listed | Not listed | $642.8 million | $642.8 million | adviserinfo.sec.gov |
| Clearwater Management Co., Inc. | St Paul | MN | 8 | 2 | 6 | Not listed | Not listed | $781.3 million | $4.68 billion | adviserinfo.sec.gov |
| Rice Park Capital | Plymouth | MN | 7 | 4 | 1 | 2 | Not listed | $1.60 billion | $1.37 billion | adviserinfo.sec.gov |
| Northern Lakes Capital, L.P. | Minneapolis | MN | 7 | Not listed | 7 | Not listed | Not listed | $575.4 million | $575.4 million | adviserinfo.sec.gov |
| McGinty Road Partners, LP | Minnetonka | MN | 7 | Not listed | 7 | Not listed | Not listed | $470.6 million | $646 million | adviserinfo.sec.gov |
| Sit Investment Associates, Inc | Minneapolis | MN | 7 | Not listed | Not listed | Not listed | 1 | $234.6 million | $3.54 billion | adviserinfo.sec.gov |
| O'Brien-Staley Partners | Edina | MN | 6 | Not listed | Not listed | Not listed | Not listed | $1.43 billion | $1.43 billion | adviserinfo.sec.gov |
| Northstar Capital | Minneapolis | MN | 6 | Not listed | 6 | Not listed | Not listed | $763.4 million | $1.02 billion | adviserinfo.sec.gov |
| Merced Capital, L.P. | Minnetonka | MN | 6 | 1 | 3 | Not listed | 2 | $251.2 million | $251.2 million | adviserinfo.sec.gov |
| PSC Capital Partners LLC | Minneapolis | MN | 6 | Not listed | 6 | Not listed | Not listed | $240.8 million | $240.8 million | adviserinfo.sec.gov |
| Great North Ventures | Maple Grove | MN | 6 | Not listed | Not listed | 6 | Not listed | $76 million | Not listed | adviserinfo.sec.gov |
| Walleye Capital LLC | Wayzata | MN | 5 | 5 | Not listed | Not listed | Not listed | $53.34 billion | $52.11 billion | adviserinfo.sec.gov |
| Hunter Street Partners, LP | Wayzata | MN | 4 | Not listed | 1 | Not listed | Not listed | $277.7 million | $313 million | adviserinfo.sec.gov |
| Spell Capital Partners, LLC | Minneapolis | MN | 4 | Not listed | 4 | Not listed | Not listed | $157.7 million | Not listed | adviserinfo.sec.gov |
| Split Rock Partners, LLC | Eden Prairie | MN | 4 | Not listed | Not listed | 4 | Not listed | $87.2 million | Not listed | adviserinfo.sec.gov |
| Everstream Energy Capital Advisers, LLC | Wayzata | MN | 4 | Not listed | 4 | Not listed | Not listed | $75.2 million | Not listed | adviserinfo.sec.gov |
| Northern Pacific Group, L.P. | Minneapolis | MN | 4 | Not listed | 4 | Not listed | Not listed | $41.6 million | $58.6 million | adviserinfo.sec.gov |
| Granite Partners | St. Cloud | MN | 3 | Not listed | 3 | Not listed | Not listed | $1.89 billion | $1.89 billion | adviserinfo.sec.gov |
| Disciplined Growth Investors Inc | Minneapolis | MN | 3 | 2 | Not listed | Not listed | Not listed | $1.04 billion | $5.48 billion | adviserinfo.sec.gov |
| Vensana Capital Management, LLC | Edina | MN | 3 | Not listed | Not listed | 3 | Not listed | $984.1 million | Not listed | adviserinfo.sec.gov |
| First Light Asset Management, LLC | Edina | MN | 3 | 3 | Not listed | Not listed | Not listed | $975.2 million | $1.41 billion | adviserinfo.sec.gov |
| Goldner Hawn | Minneapolis | MN | 3 | Not listed | 3 | Not listed | Not listed | $898.9 million | $898.9 million | adviserinfo.sec.gov |
| Onward Investors | Minnetonka | MN | 3 | Not listed | Not listed | Not listed | 3 | $841.5 million | Not listed | adviserinfo.sec.gov |
| Winslow Capital Management LLC | Minneapolis | MN | 3 | Not listed | Not listed | 3 | Not listed | $519.3 million | $28.66 billion | adviserinfo.sec.gov |
| Stillwater Asset Management, LLC | Stillwater | MN | 3 | Not listed | 3 | Not listed | Not listed | $461.5 million | $701.4 million | adviserinfo.sec.gov |
| Galliard Capital Management | Minneapolis | MN | 3 | Not listed | Not listed | Not listed | Not listed | $429.8 million | $80.27 billion | adviserinfo.sec.gov |
| Pathfinder 360 Managementco, LLC | Minnetonka | MN | 3 | Not listed | 3 | Not listed | Not listed | $343.8 million | $343.8 million | adviserinfo.sec.gov |
| Mill City Capital, L.P. | Minneapolis | MN | 3 | Not listed | 3 | Not listed | Not listed | $67.2 million | Not listed | adviserinfo.sec.gov |
| Stone Arch Capital, LLC | Minneapolis | MN | 3 | Not listed | 3 | Not listed | Not listed | $64.2 million | Not listed | adviserinfo.sec.gov |
| Paralign Capital Investment Advisors, LLC | Minneapolis | MN | 3 | Not listed | 3 | Not listed | Not listed | $44.7 million | Not listed | adviserinfo.sec.gov |
| BCCM Advisors, LLC | Minneapolis | MN | 3 | 3 | Not listed | Not listed | Not listed | $39 million | Not listed | adviserinfo.sec.gov |
| Northern Pacific Growth Investment Advisors, LLC | Minneapolis | MN | 3 | Not listed | 3 | Not listed | Not listed | $16.9 million | $58.6 million | adviserinfo.sec.gov |
| Pine River Capital Management L.P. | Minnetonka | MN | 2 | 2 | Not listed | Not listed | Not listed | $5.96 billion | $46.87 billion | adviserinfo.sec.gov |
| Excelsior Renewable Energy Management Company LP | Excelsior | MN | 2 | Not listed | 2 | Not listed | Not listed | $1.61 billion | $1.51 billion | adviserinfo.sec.gov |
| Punch & Associates Investment Management, Inc. | Edina | MN | 2 | 2 | Not listed | Not listed | Not listed | $386.5 million | $2.03 billion | adviserinfo.sec.gov |
| Solpacific, LLC | Duluth | MN | 2 | Not listed | Not listed | Not listed | Not listed | $154 million | $154 million | adviserinfo.sec.gov |
| Farnam Street Capital, Inc. | Minneapolis | MN | 2 | 2 | Not listed | Not listed | Not listed | $148.6 million | Not listed | adviserinfo.sec.gov |
| Brass Ring Capital, Inc. | Minnetonka | MN | 2 | Not listed | 1 | Not listed | Not listed | $132.7 million | Not listed | adviserinfo.sec.gov |
| Mairs & Power | St. Paul | MN | 2 | Not listed | Not listed | 2 | Not listed | $59.3 million | $12.14 billion | adviserinfo.sec.gov |
| Imperative Management LLC | Stillwater | MN | 2 | Not listed | Not listed | 2 | Not listed | $29.6 million | Not listed | adviserinfo.sec.gov |
| Wayzata Investment Partners LLC | Wayzata | MN | 2 | 2 | Not listed | Not listed | Not listed | $9.4 million | $9.4 million | adviserinfo.sec.gov |
| Garda Capital Partners | Wayzata | MN | 1 | 1 | Not listed | Not listed | Not listed | $207.10 billion | $207.10 billion | adviserinfo.sec.gov |
| U.S. Bancorp Asset Management, Inc. | Minneapolis | MN | 1 | Not listed | Not listed | Not listed | Not listed | $5.09 billion | $427.48 billion | adviserinfo.sec.gov |
| Estuary Capital Management LP | Wayzata | MN | 1 | 1 | Not listed | Not listed | Not listed | $853.9 million | $853.9 million | adviserinfo.sec.gov |
| DGV Solutions LP | Minnetonka | MN | 1 | Not listed | Not listed | Not listed | Not listed | $547.6 million | $944.4 million | adviserinfo.sec.gov |
| India Capital LLC | Minneapolis | MN | 1 | 1 | Not listed | Not listed | Not listed | $365.3 million | $365.3 million | adviserinfo.sec.gov |
| Piper Heartland Healthcare Capital, LLC | Minneapolis | MN | 1 | Not listed | 1 | Not listed | Not listed | $211.5 million | $218.3 million | adviserinfo.sec.gov |
| Speece Thorson Capital Group Inc | Minnetonka | MN | 1 | 1 | Not listed | Not listed | Not listed | $126 million | $469 million | adviserinfo.sec.gov |
| Thrivent Financial for Lutherans | Minneapolis | MN | 1 | Not listed | Not listed | Not listed | Not listed | $104.9 million | $128.73 billion | adviserinfo.sec.gov |
| Tonka Capital Partners, LLC | Minnetonka | MN | 1 | Not listed | 1 | Not listed | Not listed | $71.6 million | $139.8 million | adviserinfo.sec.gov |
| Lakeside Capital Management, Parallel, LLC | Minneapolis | MN | 1 | Not listed | Not listed | Not listed | Not listed | $47.3 million | Not listed | adviserinfo.sec.gov |
| Leuthold Weeden Capital Management | Minneapolis | MN | 1 | 1 | Not listed | Not listed | Not listed | $41.6 million | $1.17 billion | adviserinfo.sec.gov |
| Brown Venture Group LLC | Saint Paul | MN | 1 | Not listed | Not listed | 1 | Not listed | $35.9 million | Not listed | adviserinfo.sec.gov |
| Asa Managed Account Managers LLC | Minneapolis | MN | 1 | Not listed | Not listed | Not listed | Not listed | $25.2 million | $1.12 billion | adviserinfo.sec.gov |
| White Pine Capital LLC | Bloomington | MN | 1 | 1 | Not listed | Not listed | Not listed | $11.9 million | $430.6 million | adviserinfo.sec.gov |
| Gener8tor Equity Management, LLC | Plymouth | MN | 1 | Not listed | Not listed | Not listed | Not listed | $11 million | Not listed | adviserinfo.sec.gov |
| Intelligent Alpha LLC | Minneapolis | MN | 1 | 1 | Not listed | Not listed | Not listed | $5.3 million | $27 million | adviserinfo.sec.gov |
| Northrock Partners, LLC | Minneapolis | MN | 1 | Not listed | Not listed | Not listed | Not listed | $74,913 | $12.19 billion | adviserinfo.sec.gov |
Also on SpecStream
Updated November 7, 2026. Read from the SEC's Form ADV data files for investment advisers. Public data published by the US Securities and Exchange Commission (US government work). Advisers report these values themselves in Form ADV, and neither the SEC nor the states approve or guarantee them. AUM is regulatory assets under management as the adviser reported it in Form ADV item 5.F, which can differ from the AUM a firm quotes elsewhere. Exempt reporting advisers do not report AUM. Office address, phone and website are the adviser's main office as filed; a firm that files its main office as a private residence shows no street address or phone. An Item 11 disclosure is a reported event, not a finding about the firm today. Details for each firm are on the SEC's Investment Adviser Public Disclosure site. This page uses SEC data and is not endorsed or certified by the SEC. Free to reuse with credit to SpecStream under CC BY 4.0. Spot a wrong value? Write to [email protected] with the link to this page.