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First Trust Capital Management

SEC-registered adviser since 2022Chicago, ILCRD 317825

$12.7B
AUM
40
Clients
See fees
Fee
24
Advisory staff

From Form ADV filed 19 August 2026 · data retrieved 15 October 2026SEC record

First Trust Capital Management is an investment adviser headquartered in Chicago, Illinois, and registered with the SEC since 2022. Its clients include investment companies and pooled investment vehicles.

Its services include portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. Fee arrangements include a percentage of assets under management, fixed fees and performance-based fees. First Trust Capital Solutions L.P. owns 75% or more of First Trust Capital Management.

Clients

First Trust Capital Management serves 40 clients, 25 of them investment companies. The average client has about $316 million with the firm.

Regulatory assets by client type
  • Investment companies25 clients61%
  • Pooled investment vehicles15 clients39%
Show client breakdown
Investment companies
Clients
25
Regulatory AUM
$7,724,812,789
Share
61.0%
Avg. per client
$309.0M
Pooled investment vehicles
Clients
15
Regulatory AUM
$4,933,176,700
Share
39.0%
Avg. per client
$328.9M

Total

Clients
40
Regulatory AUM
$12,657,989,489
Share
100%
Avg. per client
$316.4M

What it does

First Trust Capital Management provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. It is paid through a percentage of assets, fixed fees and performance-based fees.

First Trust Capital Management advises 15 private funds.

92.3% of assets ($11.69B across 23 accounts) are managed with discretion; $968.4M across 17 accounts are not. 3% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

Custodians

First Trust Capital Management has custody of $3.89B for 15 clients.

Managed account assets by custodian
  • All other custodians$12.66B100%

Ownership and leadership

First Trust Capital Solutions L.P. owns 75% or more of First Trust Capital Management.

Who owns the firm
First Trust Capital Management L.P.· the adviser

  • First Trust Capital Solutions L.P.

    Control person · since November 2021

    Owns 75% or more of First Trust Capital Management L.P.

Leadership

  • Thomas Reckley
    President
  • Chad Eisenberg
    Chief Operating Officer
  • Charles Winek
    Public Funds - Chief Operating Officer
  • Jennifer Kenny
    Chief Compliance Officer
  • Marc Bassewitz
    General Counsel
  • Yadira Guzman
    CFO
  • Michael Peck
    CEO/Co-CIO

Staff

  • 62 employees
  • 24 in advisory functions
  • 1 state-registered rep
  • 1 broker-dealer rep

Reported holdings

First Trust Capital Management’s reported 13F holdings total $1.90B across 182 positions, and the ten largest make up 42.2% of it.

$1.90B
Reported 13F value
182
Positions
42.2%
In the 10 largest
—
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Chart Inds Inc. · Equity6.9%
  2. Hologic Inc. · Equity5.3%
  3. Sealed Air Corp. New · Equity5.2%
  4. Masimo Corp. · Equity4.5%
  5. Electronic Arts Inc. · Equity4.3%
  6. Tri Pointe Homes Inc. · Equity3.9%
  7. National Storage Affiliates · Equity3.6%
  8. Air Lease Corp. · Equity3.3%
  9. Clearwater Analytics Hldgs I · Equity2.7%
  10. Terns Pharmaceuticals Inc. · Equity2.5%

Together, the ten largest are 42.2% of reported value.

The 50 largest positions and quarterly changesQuarter ended 31 March 2026 · filed 14 May 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $1.90B is not its $12.66B in regulatory assets and does not represent any individual client's portfolio.

Fees

First Trust Capital Management is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees.

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

Offices and registrations

Besides its headquarters, First Trust Capital Management has 1 office, with 2 listed addresses across 2 states.

Listed office addresses by state

Illinois · 1 listed address

  • 225 W. Wacker Drive, Suite 2160, ChicagoHQ

Other business names

First Trust Capital Management has reported 2 other business names to the SEC.

  • First Trust Alternative Investment Research
  • First Trust Innovative Technologies L.P. (relying Adviser)

Registration details

Legal name
First Trust Capital Management L.P.
Headquarters
225 W. Wacker Drive, Suite 2160, Chicago, IL 60606
Phone
773-828-6700
Website
www.FirstTrustCapital.com
SEC file
801-122924
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 First Trust Capital Management have?

First Trust Capital Management has 40 clients and manages $12.7 billion for them, as of August 2026. They include 25 investment companies and 15 pooled investment vehicles.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 19 August 2026

What services does First Trust Capital Management offer?

First Trust Capital Management provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers.

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

How many financial advisors does First Trust Capital Management have?

First Trust Capital Management has 1 investment adviser representatives registered with state securities authorities, out of 62 employees, and 24 perform investment advisory functions. 1 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

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

Who owns First Trust Capital Management?

First Trust Capital Management is owned through a trust by James Bowen, David Sternberg, Michael Peck and Chad Eisenberg. Its direct owner is First Trust Capital Solutions L.P. (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 19 August 2026

How does First Trust Capital Management get paid?

First Trust Capital Management is paid through a percentage of assets under management, fixed fees 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

Sources

  1. Form ADV Part 1A, amendment filed 19 August 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 317825.
  3. Form 13F-HR, filed 14 May 2026 for the quarter ended 31 March 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with First Trust Capital Management L.P. and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.