Acore Capital: AUM & Ownership

Clients

Acore Capital serves 29 clients, 17 of them pooled investment vehicles. The average client has about $630 million with the firm.

Regulatory assets by client type

Pooled investment vehicles17 clients29%
Insurance companies11 clients71%
Other investment advisers1 clients0%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Pooled investment vehicles	17	$5,216,395,125	28.5%	$306.8M
Other investment advisers	1	$28,521,764	0.2%	$28.5M
Insurance companies	11	$13,027,028,732	71.3%	$1.18B
Total	29	$18,271,945,621	100%	$630.1M

Pooled investment vehicles

Clients: 17
Regulatory AUM: $5,216,395,125
Share: 28.5%
Avg. per client: $306.8M

Other investment advisers

Clients: 1
Regulatory AUM: $28,521,764
Share: 0.2%
Avg. per client: $28.5M

Insurance companies

Clients: 11
Regulatory AUM: $13,027,028,732
Share: 71.3%
Avg. per client: $1.18B

Total

Clients: 29
Regulatory AUM: $18,271,945,621
Share: 100%
Avg. per client: $630.1M

What it does

Acore Capital provides portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.

Acore Capital provided financial planning to 0 clients last fiscal year and advises 11 private funds.

43.8% of assets ($8.01B across 19 accounts) are managed with discretion; $10.26B across 10 accounts are not. 10% of clients are outside the U.S., and 1 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Other100%
- Commercial real estate loans and securites and other commerical real estate investments100%

Custodians

Acore Capital has custody of $5.22B for 17 clients.

Managed account assets by custodian

All other custodians$18.27B100%

Ownership and leadership

Delphi Financial Group, Inc. owns 75% or more of Acore Capital.

Who owns the firm

Acore Capital, LP· the adviser

Delphi Financial Group, Inc.
Control person · since February 2026
Owns 75% or more of Acore Capital, LP
- Tokio Marine & Nichido Fire Insurance Company
  Control person · since February 2026
  Owns 75% or more of Delphi Financial Group, Inc.
  - Tokio Marine Holdings Inc
    Control person · since February 2026
    Owns 75% or more of Tokio Marine & Nichido Fire Insurance Company
Boyd Fellows
Control person · since April 2015
Owns 5% to 10% of Acore Capital, LP
Warren Dehaan
Control person · since April 2015
Owns 5% to 10% of Acore Capital, LP

Leadership

Michael Wilkinson
Chief Financial Officer
David Kurzweil
Chief Compliance Officer
Warren Dehaan
CEO and Managing Partner
Boyd Fellows
COO and Managing Partner
Lawrence Taylor
General Counsel
Christopher Tokarski
Managing Partner
Perry Ward
Managing Partner

Staff

121 employees
70 in advisory functions

Fees

Acore Capital is paid through a percentage of assets under management and performance-based fees.

Acore Capital’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Acore Capital has 4 offices, with 5 listed addresses across 4 states.

Listed office addresses by state

New York · 1 listed address

1177 Avenue of the Americas, Suite 0200, New YorkHQ

Registration details

Legal name: Acore Capital, LP
Headquarters: 1177 Avenue of the Americas, Suite 0200, New York, NY 10036
Phone: 212-235-1280
Website: www.acorecapital.com
SEC file: 801-95178
Structure: Delaware limited partnership
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Acore Capital have?

Acore Capital has 29 clients and manages $18.3 billion for them, as of April 2026. They include 17 pooled investment vehicles, 11 insurance companies and 1 other investment advisers.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 13 April 2026

What services does Acore Capital offer?

Acore Capital provides portfolio management for pooled vehicles and portfolio management for institutions.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

How many financial advisors does Acore Capital have?

Acore Capital has 0 investment adviser representatives registered with state securities authorities, out of 121 employees, and 70 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Acore Capital invest in?

At the end of its last fiscal year, Acore Capital’s separately managed accounts held 100% commercial real estate loans and securites and other commerical real estate investments. It advises 11 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Acore Capital?

Acore Capital is owned through a chain of holding companies by Tokio Marine Holdings Inc. Its direct owners are Boyd Fellows (5% to 10%), Warren Dehaan (5% to 10%) and Delphi Financial Group, Inc. (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 13 April 2026

How does Acore Capital get paid?

Acore Capital is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file