Theorem Partners provides portfolio management for pooled vehicles and portfolio management for institutions. The firm advises 3 private funds.
Theorem Partners reports 3 clients. They include 3 pooled investment vehicles. Of its assets, 100.0% ($1.03B across 4 accounts) are managed with discretion. Of its clients, 50% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 100% | 99% |
| Charitable organizations | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 3 | $1.03B | 99.4% | $342M |
| Charitable organizations | Fewer than 5 | $6.6M | 0.6% | — |
| Total | 3 | $1.03B | 100% | — |
- Clients
- 3
- Regulatory AUM
- $1.03B
- AUM share
- 99.4%
- Avg. per client
- $342M
- Clients
- Fewer than 5
- Regulatory AUM
- $6.6M
- AUM share
- 0.6%
- Avg. per client
- —
Total
- Clients
- 3
- Regulatory AUM
- $1.03B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 50%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 3
Theorem Partners is paid through a percentage of assets under management and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
Theorem Technology, Inc. owns 75% or more of Theorem Partners and is in turn owned by Pagaya US Holding Company LLC (75% or more). Edward Mallon is CEO; the leadership team includes Chief Operating Officer Balasubramanian Panchanadeswaran, Chief Financial Officer Jonathan Dobres and Chief Compliance Officer Nicholas Wilson. It has 121 employees, 3 of them in advisory roles.
Leadership
- Edward MallonChief Executive Officer and Chief Investment Officer
- Jonathan DobresChief Financial Officer
- Balasubramanian PanchanadeswaranChief Operating Officer
- Nicholas WilsonChief Compliance Officer
- Eric WatsonChief Legal Officer
Staff
- 121 employees
- 3 in advisory functions
- Owns 75% or more of Theorem Partners LLC
Theorem Technology, Inc.
Control person · since December 2021
- Owns 75% or more of Theorem Technology, Inc.
Pagaya US Holding Company LLC
Control person · since October 2024
- Owns 75% or more of Pagaya US Holding Company LLC
Pagaya Technologies LTD.
Control person · since November 2021
Theorem Partners’ regulatory assets fell from $1.51B (April 2021) to $1.03B (October 2026); clients fell from 8 to 3 and employees rose from 31 to 121.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| October 2026 | $1.03B | 3 | 121 | 1 |
| May 2025 | $1.68B | 4 | 133 | 1 |
| May 2024 | $2.02B | 9 | 62 | 2 |
| July 2023 | $2.75B | 7 | 64 | 1 |
| February 2022 | $2.14B | 7 | 34 | 1 |
| April 2021 | $1.51B | 8 | 31 | 1 |
Besides its headquarters, Theorem Partners has 0 offices, with 1 listed address in New York.
New York · 1 listed address
- 335 Madison Avenue, 16th FL, New YorkHQ
Contact and registration details
- Legal name
- Theorem Partners LLC
- Headquarters
- 335 Madison Avenue, 16th FL, New York, NY 10017-4611
- Website
- Not reported
- Phone
- 646-214-8587
- SEC file
- 801-108607
- Structure
- Delaware LLC
- Fiscal year end
- December
Theorem Partners uses Inspira Financial Trust ($5.74M, 87%) and Wells Fargo & Company ($856K, 13%) as custodians for its separately managed accounts. Theorem Partners has custody of $1.03B in client assets for 3 clients.
- Inspira Financial TrustInspira Financial Trust, LLC · Oak Brook, IL · $5.74M87%
- Wells Fargo & CompanyWells Fargo & Company · San Francisco, CA · $856K13%
At year end, Theorem Partners’ separately managed accounts were largely in cash (20%).
What the accounts hold
- Cash20%
- Other80%
- Consumer lending80%
How many clients does Theorem Partners have?
Theorem Partners has 3 clients and manages $1.03 billion for them, as of October 2026. They include 3 pooled investment vehicles.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 1 October 2026
What services does Theorem Partners offer?
Theorem Partners 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 Theorem Partners use?
Theorem Partners’ separately managed account assets are held at Inspira Financial Trust, LLC (Oak Brook, IL), with $5.74M and Wells Fargo & Company (San Francisco, CA), with $856K. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 1 October 2026
How many financial advisors does Theorem Partners have?
Theorem Partners has 0 investment adviser representatives registered with state securities authorities, out of 121 employees, and 3 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 Theorem Partners invest in?
At the end of its last fiscal year, Theorem Partners’ separately managed accounts held 80% other and 20% cash and equivalents. The 80% other category is described as: Consumer Lending. It advises 3 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 Theorem Partners?
Theorem Partners is owned through a chain of holding companies by Pagaya Technologies LTD. Its direct owner is Theorem Technology, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 1 October 2026
How does Theorem Partners get paid?
Theorem Partners 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
How do I contact Theorem Partners?
Theorem Partners’ main office is at 335 Madison Avenue, 16th FL, New York, NY 10017-4611. Its phone number is 646-214-8587.