Permanens Capital provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, and selecting other managers. Financial planning was provided to 26–50 clients last fiscal year. The firm advises 10 private funds.
Permanens Capital reports 65 clients. They include 39 high-net-worth individuals, 11 pooled investment vehicles and 9 charitable organizations. Of its assets, 44.8% ($1.8B across 51 accounts) are managed with discretion; $2.22B across 14 accounts are not. Of its clients, 4% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| High-net-worth individuals | 60% | 72% |
| Pooled investment vehicles | 17% | <1% |
| Pension and profit-sharing plans | 3% | <1% |
| Charitable organizations | 14% | 16% |
| Other | 6% | 11% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 39 | $2.89B | 71.9% | $74.1M |
| Pooled investment vehicles | 11 | $27.6M | 0.7% | $2.51M |
| Pension and profit-sharing plans | Fewer than 5 | $22.4M | 0.6% | $11.2M |
| Charitable organizations | 9 | $633M | 15.7% | $70.3M |
| Other | Fewer than 5 | $445M | 11.1% | $111M |
| Total | 65 | $4.02B | 100% | — |
- Clients
- 39
- Regulatory AUM
- $2.89B
- AUM share
- 71.9%
- Avg. per client
- $74.1M
- Clients
- 11
- Regulatory AUM
- $27.6M
- AUM share
- 0.7%
- Avg. per client
- $2.51M
- Clients
- Fewer than 5
- Regulatory AUM
- $22.4M
- AUM share
- 0.6%
- Avg. per client
- $11.2M
- Clients
- 9
- Regulatory AUM
- $633M
- AUM share
- 15.7%
- Avg. per client
- $70.3M
- Clients
- Fewer than 5
- Regulatory AUM
- $445M
- AUM share
- 11.1%
- Avg. per client
- $111M
Total
- Clients
- 65
- Regulatory AUM
- $4.02B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 4%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 10
- Financial planning clients last fiscal year
- 26–50
Permanens Capital charges 0.50%–1.00% a year for its Separate Account Management. The fee is billed in advance and is negotiable.
Fee details and sources
John Regan owns 50% to 75% of Permanens Capital. The leadership team of Permanens Capital includes Chief Investment Officer John Regan, Chief Financial Officer August Politano and Chief Compliance Officer Casey Earnest. It has 17 employees, 6 of them in advisory roles.
Leadership
- August PolitanoChief Financial Officer
- Casey EarnestChief Compliance Officer and Director of Operations
- John ReganChief Investment Officer and General Partner
- Joseph SteinbergLimited Partner
Investment adviser representatives
4 representatives listed in the SEC register as of 9 October 2026.
- Connor Carew
- Alexander Robert Goldfarb
- Olivia Faith May
- John James Regan
Staff
- 17 employees
- 6 in advisory functions
- 4 state-registered reps
- 1 soliciting firm
- Owns 50% to 75% of Permanens Capital L.P.
John Regan
Control person · since May 2011
- Owns 25% to 50% of Permanens Capital L.P.
Joseph Steinberg
Control person · since May 2011
Permanens Capital’s regulatory assets grew from $3.73B (July 2021) to $4.02B (September 2026); clients fell from 81 to 65 and employees rose from 15 to 17.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $4.02B | 65 | 17 | 3 |
| July 2025 | $4.93B | 46 | 16 | 3 |
| March 2024 | $4.46B | 43 | 16 | 2 |
| July 2023 | $4.19B | 47 | 16 | 2 |
| March 2022 | $4.47B | 44 | 15 | 2 |
| July 2021 | $3.73B | 81 | 15 | 2 |
Besides its headquarters, Permanens Capital has 2 offices, with 3 listed addresses in California, New York and South Carolina.
California · 1 listed address
- 312 South Cedros Avenue, Solana Beach
New York · 1 listed address
- 410 Park Avenue, New York
South Carolina · 1 listed address
- 10 Gillon Street, CharlestonHQ
Other business names
Permanens Capital has reported 1 other business name to the SEC.
- Permcap Investment Office
Contact and registration details
- Legal name
- Permanens Capital L.P.
- Headquarters
- 10 Gillon Street, Charleston, SC 29401
- Website
- permcap.com
- Phone
- 843-882-7950
- @permanens-capital-lp
- SEC file
- 801-72416
- Structure
- Delaware limited partnership
- Fiscal year end
- December
Permanens Capital uses Charles Schwab ($918M, 63%) and Pershing ($538M, 37%) as custodians for its separately managed accounts. Permanens Capital has custody of $79.9M in client assets for 9 clients.
- Charles SchwabCharles Schwab & Co., Inc. · New York, NY · $918M63%
- PershingPershing LLC · Jersey City, NJ · $538M37%
At year end, Permanens Capital’s separately managed accounts were mostly in stocks (57%) and funds (37%). Its reported 13F holdings for the quarter ended 30 June 2026 total $972M across 100 positions; the largest are SPDR Series Trust (16.8%), Vanguard Index Fds (16.3%) and Vanguard Index Fds (7.3%).
What the accounts hold
- Stocks57%
- Funds37%
- Pooled vehicles27%
- Registered funds10%
- Bonds3%
- Investment grade corporate bonds2%
- State and local bonds1%
- Cash3%
Reported 13F holdings
- $972M
- Reported 13F value
- 100
- Positions
- 67.6%
- In the 10 largest
- +25.3%
- Value vs. prior quarter
- SPDR Series Trust · ST Str Blo 1 ETF16.8%
- Vanguard Index Fds · Value ETF16.3%
- Vanguard Index Fds · Growth ETF7.3%
- iShares Gold TR · iShares New6.7%
- Blackrock ETF Trust II · Isha Secu IN ETF5.7%
- Invesco Exchange Traded FD T · S&P500 Eql Wgt4.3%
- J P Morgan Exchange Traded F · Beta Euro ET NE3.0%
- Lazard Active ETF TR · Japanese Equity2.6%
- Schwab Strategic TR · 5 10yr Corp. BD2.6%
- Pershing Square USA Ltd · Com Shs2.3%
Together, the ten largest are 67.6% of reported value.
How many clients does Permanens Capital have?
Permanens Capital has 65 clients and manages $4.02 billion for them, as of September 2026. They include 39 high-net-worth individuals, 11 pooled investment vehicles and 9 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 11 September 2026
What services does Permanens Capital offer?
Permanens Capital provides financial planning, 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 much does Permanens Capital charge?
Permanens Capital charges 0.50%–1.00% a year for its Separate Account Management. The fee is billed in advance and is negotiable.
Source: PERMANENS CAPITAL L.P. FORM ADV PART 2A, filed 7 August 2026
Which custodians does Permanens Capital use?
Permanens Capital’s separately managed account assets are held at Charles Schwab & Co., Inc. (New York, NY), with $918M and Pershing LLC (Jersey City, NJ), with $538M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 11 September 2026
How many financial advisors does Permanens Capital have?
Permanens Capital has 4 investment adviser representatives registered with state securities authorities, out of 17 employees, and 6 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 Permanens Capital invest in?
At the end of its last fiscal year, Permanens Capital’s separately managed accounts held 57% exchange-traded equities, 27% pooled vehicles (private funds and similar), 10% registered funds (mutual funds, ETFs, BDCs), 3% cash and equivalents, 2% investment grade corporate bonds and 1% state and local bonds. It advises 10 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 Permanens Capital?
Permanens Capital’s direct owners are John Regan (50% to 75%) and Joseph Steinberg (25% to 50%).
Source: Form ADV Part 1A, Schedules A and B, filed 11 September 2026
How does Permanens Capital get paid?
Permanens Capital 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
Is Permanens Capital registered with the SEC?
Yes, Permanens Capital has been registered with the SEC as an investment adviser since 13 June 2011. Its CRD number is 157476 and its SEC file number is 801-72416.
Source: Form ADV Part 1A, Item 1, filed 11 September 2026; IAPD firm record
How do I contact Permanens Capital?
Permanens Capital’s main office is at 10 Gillon Street, Charleston, SC 29401. Its phone number is 843-882-7950. Its website is permcap.com.