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Pathway Capital Management

SEC-registered adviser since 1997Irvine, CACRD 108016

$97.8B
AUM
120
Clients
See fees
Fee
88
Advisory staff

From Form ADV filed 30 June 2026 · data retrieved 15 October 2026SEC record

Pathway Capital Management is an investment adviser headquartered in Irvine, California, and registered with the SEC since 1997. Its clients include state or municipal government entities, pooled investment vehicles, and pension and profit-sharing plans.

Its services include portfolio management for individuals and small businesses, 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. Clearlake Capital Group, L.P. owns 75% or more of Pathway Capital Management.

Clients

Pathway Capital Management serves 120 clients, 103 of them pooled investment vehicles. The average client has about $815 million with the firm.

Regulatory assets by client type
  • Pooled investment vehicles103 clients44%
  • Pension and profit-sharing plans8 clients4%
  • State or municipal government entities7 clients50%
  • Insurance companies2 clients2%
Show client breakdown
Pooled investment vehicles
Clients
103
Regulatory AUM
$43,043,498,382
Share
44.0%
Avg. per client
$417.9M
Pension and profit-sharing plans
Clients
8
Regulatory AUM
$4,387,513,998
Share
4.5%
Avg. per client
$548.4M
State or municipal government entities
Clients
7
Regulatory AUM
$48,803,432,200
Share
49.9%
Avg. per client
$6.97B
Insurance companies
Clients
2
Regulatory AUM
$1,583,910,350
Share
1.6%
Avg. per client
$792.0M

Total

Clients
120
Regulatory AUM
$97,818,354,930
Share
100%
Avg. per client
$815.2M

What it does

Pathway Capital Management provides portfolio management for individuals and small businesses, 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.

Pathway Capital Management advises 103 private funds.

75.8% of assets ($74.17B across 111 accounts) are managed with discretion; $23.65B across 10 accounts are not. 21% 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%
    • Interests in private market partnerships and co-investments100%

Custodians

Pathway Capital Management has custody of $36.35B for 31 clients.

Managed account assets by custodian
  • All other custodians$97.82B100%

Ownership and leadership

Clearlake Capital Group, L.P. owns 75% or more of Pathway Capital Management.

Who owns the firm
Pathway Capital Management, LP· the adviser

  • Clearlake Capital Group, L.P.

    Control person · since June 2026

    Owns 75% or more of Pathway Capital Management, LP

Leadership

  • Ashok Tripathi
    Senior Vice President & General Counsel
  • Benjamin Brewster
    Chief Financial Officer - Corporate
  • Raquel Nicolas
    Chief Financial Officer - Fund Accounting & Operations
  • Stefanie Hochman
    Chief Compliance Officer

Staff

  • 248 employees
  • 88 in advisory functions
  • 5 soliciting firms

Reported holdings

Pathway Capital Management’s reported 13F holdings total $23.9M across 4 positions, and the ten largest make up 100.0% of it.

$23.9M
Reported 13F value
4
Positions
100.0%
In the 10 largest
+457.2%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Rubrik, Inc.. · CL A53.6%
  2. Robinhood Markets, Inc.. · Com CL A33.7%
  3. Servicetitan, Inc.. · Shs CL A11.2%
  4. Blend Labs, Inc.. · CL A1.5%

Together, the ten largest are 100.0% of reported value.

The 4 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 3 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $23.9M is not its $97.82B in regulatory assets and does not represent any individual client's portfolio.

Fees

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

Pathway 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, Pathway Capital Management has 4 offices, with 2 listed addresses across 2 states.

Listed office addresses by state

California · 1 listed address

  • 18575 Jamboree Road, 7th Floor, IrvineHQ

Registration details

Legal name
Pathway Capital Management, LP
Headquarters
18575 Jamboree Road, 7th Floor, Irvine, CA 92612
Phone
949-622-1000
Website
www.pathwaycapital.com
SEC file
801-54251
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 Pathway Capital Management have?

Pathway Capital Management has 120 clients and manages $97.8 billion for them, as of June 2026. They include 103 pooled investment vehicles, 8 pension and profit-sharing plans and 7 state or municipal government entities.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 June 2026

What services does Pathway Capital Management offer?

Pathway Capital Management provides portfolio management for individuals and small businesses, 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 Pathway Capital Management have?

Pathway Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 248 employees, and 88 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 Pathway Capital Management invest in?

At the end of its last fiscal year, Pathway Capital Management’s separately managed accounts held 100% interests in private market partnerships and co-investments. It advises 103 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 Pathway Capital Management?

Pathway Capital Management is owned through a chain of holding companies by Jose Feliciano, Behdad Eghbali and Clearlake Capital Parent Holdings, L.P. Its direct owner is Clearlake Capital Group, L.P. (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 30 June 2026

How does Pathway Capital Management get paid?

Pathway 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 30 June 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 108016.
  3. Form 13F-HR, filed 3 August 2026 for the quarter ended 30 June 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 Pathway Capital Management, LP 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.