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Ra Capital Management

SEC-registered adviser since 2012Boston, MACRD 160174

$16.4B
AUM
13
Clients
See fees
Fee
95
Advisory staff

From Form ADV filed 31 March 2026 · data retrieved 15 October 2026SEC record

Ra Capital Management is an investment adviser headquartered in Boston, Massachusetts, and registered with the SEC since 2012. Its clients include pooled investment vehicles and corporations and other businesses.

Its services include portfolio management for pooled vehicles and portfolio management for institutions. Fee arrangements include a percentage of assets under management and performance-based fees. Peter Kolchinsky Revocable Trust owns 50% to 75% of Ra Capital Management.

Clients

Ra Capital Management serves 13 clients, 12 of them pooled investment vehicles. The average client has about $1.26 billion with the firm.

Regulatory assets by client type
  • Pooled investment vehicles12 clients100%
  • Corporations and other businesses1 clients0%
Show client breakdown
Pooled investment vehicles
Clients
12
Regulatory AUM
$16,339,781,065
Share
99.6%
Avg. per client
$1.36B
Corporations and other businesses
Clients
1
Regulatory AUM
$62,150,320
Share
0.4%
Avg. per client
$62.2M

Total

Clients
13
Regulatory AUM
$16,401,931,385
Share
100%
Avg. per client
$1.26B

What it does

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

Ra Capital Management provided financial planning to 0 clients last fiscal year and advises 6 private funds.

100.0% of assets ($16.40B across 13 accounts) are managed with discretion. 46% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks89%
    • Non-exchange-traded equities45%
    • Exchange-traded equities44%
  • Bonds1%
  • Cash10%

Custodians

Ra Capital Management’s client accounts are held mainly at Fidelity, with 0% of managed assets. Ra Capital Management has custody of client assets.

Managed account assets by custodian
  • OtherFidelity, All other custodians100%

Ownership and leadership

Peter Kolchinsky Revocable Trust owns 50% to 75% of Ra Capital Management.

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

  • Peter Kolchinsky Revocable Trust

    Control person · since October 2019

    Owns 50% to 75% of Ra Capital Management, LP

  • Richard Aldrich

    since October 2019

    Owns 10% to 25% of Ra Capital Management, LP

  • Rajeev M. Shah Family Revocable Trust

    Control person · since October 2019

    Owns 10% to 25% of Ra Capital Management, LP

Leadership

  • Michael Saulnier
    Chief Financial Officer
  • Eric Rose
    Chief Compliance Officer
  • Richard Aldrich
    Partner
  • Peter Kolchinsky
    Portfolio Manager
  • Craig Randall
    General Counsel
  • Robert Sanders
    Chief Information Officer
  • Rajeev Shah
    Portfolio Manager

Staff

  • 185 employees
  • 95 in advisory functions

Reported holdings

Ra Capital Management’s reported 13F holdings total $11.51B across 84 positions, and the ten largest make up 60.4% of it.

$11.51B
Reported 13F value
84
Positions
60.4%
In the 10 largest
+21.9%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Ascendis Pharma A/s23.8%
  2. Parabilis Medicines Inc.6.9%
  3. Rhythm Pharmaceuticals Inc.6.4%
  4. Vaxcyte Inc.5.8%
  5. Sionna Therapeutics Inc.3.8%
  6. Tyra Biosciences Inc.3.4%
  7. Edgewise Therapeutics Inc.3.0%
  8. Newamsterdam Pharma CO NV2.8%
  9. Hemab Therapeutics Holdings2.5%
  10. Septerna Inc.2.0%

Together, the ten largest are 60.4% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $11.51B is not its $16.40B in regulatory assets and does not represent any individual client's portfolio.

Fees

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

Ra 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, Ra Capital Management has 2 offices, with 3 listed addresses across 3 states.

Listed office addresses by state

Massachusetts · 1 listed address

  • 200 Berkeley Street, 18th Floor, BostonHQ

Registration details

Legal name
Ra Capital Management, LP
Headquarters
200 Berkeley Street, 18th Floor, Boston, MA 02116
Phone
617-778-2500
Website
www.racap.com
SEC file
801-73980
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 Ra Capital Management have?

Ra Capital Management has 13 clients and manages $16.4 billion for them, as of March 2026. They include 12 pooled investment vehicles and 1 corporations and other businesses.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026

What services does Ra Capital Management offer?

Ra Capital Management 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

Which custodians does Ra Capital Management use?

Ra Capital Management’s separately managed account assets are held at National Financial Services LLC (Boston, MA), with $18,553,555. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026

How many financial advisors does Ra Capital Management have?

Ra Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 185 employees, and 95 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 Ra Capital Management invest in?

At the end of its last fiscal year, Ra Capital Management’s separately managed accounts held 45% non-exchange-traded equities, 44% exchange-traded equities, 10% cash and equivalents and 1% high-yield corporate bonds. It advises 6 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 Ra Capital Management?

Ra Capital Management’s direct owners are Richard Aldrich (10% to 25%), Peter Kolchinsky Revocable Trust (50% to 75%) and Rajeev M. Shah Family Revocable Trust (10% to 25%).

Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026

How does Ra Capital Management get paid?

Ra Capital Management 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

Sources

  1. Form ADV Part 1A, amendment filed 31 March 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 160174.
  3. Form 13F-HR, filed 14 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 Ra 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.