Cambridge Associates, Llc
SEC-registered
Endowment & Foundation Advisor · Mega ($100B+)
CRD 104942
· SEC file 801-14255
· Boston, MA
· WWW.LINKEDIN.COM
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ADV data as of Apr 29, 2026
- Regulatory AUM
- $327B
- Discretionary
- $107B
- Clients
- 604
- Avg AUM / client
- $541M
- Accounts
- 604
- Employees
- 1,116
AUM over time
$62.4B
$327B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Apr 29, 2026
Asset allocation (SMA assets by investment type)
as of Apr 29, 2026
Pooled investment vehicles
$180B
55%
Registered investment companies (funds/ETFs)
$52.3B
16%
Exchange-traded equities
$32.7B
10%
Other
$29.4B
9%
Cash & equivalents
$13.1B
4%
State & local bonds
$6.5B
2%
Investment-grade corporate bonds
$6.5B
2%
US government & agency bonds
$3.3B
1%
Share of SMA assets by investment vehicle type, as filed in Form ADV Item 5.K. Dollar figures are percentages applied to total regulatory AUM.
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| High net worth individuals | 213 | $87.1B | 26.7% |
| Pooled investment vehicles (non-investment companies) | 27 | $729M | 0.22% |
| Pension and profit sharing plans | 34 | $34.1B | 10.4% |
| Charitable organizations | 306 | $186B | 56.9% |
| State or municipal government entities | 5 | $7.2B | 2.19% |
| Corporations and other businesses | 3 | $1.9B | 0.58% |
| Other | 16 | $9.8B | 2.98% |
Private funds (77)
View all →Reported in Form ADV Section 7.B.(1), filing of Dec 2024 · $13.9B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Ca 2596 | Other Private Fund | Georgia | $1.0B | 3 |
| Fission And Fusion, Lp | Other Private Fund | Delaware | $980M | 2 |
| Rwf Fund, Lp | Other Private Fund | Delaware | $850M | 2 |
| Uaf Fund, Lp Pe Class Series | Other Private Fund | Delaware | $722M | 2 |
| Cn Investment Fund I Lp | Other Private Fund | Delaware | $645M | 2 |
| Ca 1344 | Other Private Fund | Delaware | $619M | 11 |
| Ca 2271 | Other Private Fund | California | $575M | 4 |
| Pwf Fund, Lp | Other Private Fund | Delaware | $554M | 2 |
| The Ignatius Fund, Llc | Other Private Fund | Delaware | $542M | 2 |
| Ca 2799 J | Other Private Fund | Missouri | $482M | 1 |
| University Of Alaska Foundation Consolidated Endowment Fund, L.P. | Other Private Fund | Delaware | $470M | 2 |
| Uncg Endowment Partners, L.P. | Other Private Fund | Delaware | $391M | 2 |
| Ca 1481 | Other Private Fund | Delaware | $384M | 18 |
| Mercury Fund Ii, Lp | Other Private Fund | Delaware | $370M | 2 |
| Owu Fund, Lp | Other Private Fund | Delaware | $291M | 2 |
Nonprofit clients
Charities that reported this firm as a top-paid contractor (investment services) on Form 990.
| Charity | Location | Period |
|---|---|---|
| Thrivent Charitable Impact & Investing EIN 411802412 | Minneapolis, MN | 12/31/2024 |
| Sealy & Smith Foundation EIN 741109652 | Galveston, TX | 12/31/2024 |
| The Reach Healthcare Foundation EIN 200337230 | Overland Park, KS | 12/31/2024 |
| Childrens Healthcare Of Atlanta Inc EIN 582367819 | Brookhaven, GA | 12/31/2024 |
| Oregon Community Foundation EIN 237315673 | Portland, OR | 12/31/2024 |
| Permanent Endowment Fund Of The Moody Memorial First United Method EIN 760680471 | Galveston, TX | 12/31/2024 |
| Exeter Health Resources EIN 020222126 | Exeter, NH | 09/30/2024 |
| Indianapolis Symphony Orchestra Fou Ndation Inc EIN 351812636 | Indianapolis, IN | 08/31/2024 |
| Buena Vista University EIN 420680404 | Storm Lake, IA | 06/30/2024 |
| Mccallie School Inc EIN 620475837 | Chattanooga, TN | 06/30/2024 |
| College Of The Atlantic EIN 237032625 | Bar Harbor, ME | 06/30/2024 |
| Montana Community Foundation Inc EIN 810450150 | Helena, MT | 06/30/2024 |
| Texas State University Development Foundation EIN 741982979 | San Marcos, TX | 06/30/2024 |
| Kalamazoo College EIN 381358014 | Kalamazoo, MI | 06/30/2024 |
| Orange County Community Foundation EIN 330378778 | Irvine, CA | 06/30/2024 |
| St Bernards School Inc EIN 131255270 | New York, NY | 06/30/2024 |
| Gulf Coast Community Foundation Inc EIN 591052433 | Venice, FL | 06/30/2024 |
| Vivian Beaumont Theater Inc EIN 133004747 | New York, NY | 06/30/2024 |
| Dallas Museum Of Art EIN 750808774 | Dallas, TX | 06/30/2024 |
| The American University Of Greece Foundation EIN 841217703 | Boston, MA | 06/30/2024 |
| Hollins University Corporation EIN 540506314 | Roanoke, VA | 06/30/2024 |
| Kansas University Endowment Assoc EIN 480547734 | Lawrence, KS | 06/30/2024 |
| William & Mary Foundation EIN 540734117 | Williamsburg, VA | 06/30/2024 |
| Connecticut College EIN 060646587 | New London, CT | 06/30/2024 |
| University Of Nevada Reno Foundation EIN 942781749 | Reno, NV | 06/30/2024 |
| Loomis Institute EIN 060653119 | Windsor, CT | 06/30/2024 |
| Two River Theatre Company EIN 521857757 | Red Bank, NJ | 06/30/2024 |
| Saint Francis Foundation EIN 942597514 | San Francisco, CA | 06/30/2024 |
| Florida State University Foundation Inc EIN 596152180 | Tallahassee, FL | 06/30/2024 |
| Museum Of Fine Arts EIN 042103607 | Boston, MA | 06/30/2024 |
| Philadelphia Museum Of Art EIN 231365388 | Philadelphia, PA | 06/30/2024 |
| Roxbury Latin School Inc EIN 042104857 | West Roxbury, MA | 06/30/2024 |
| The Episcopal School Of Dallas Permanent Endowment Trust EIN 752205213 | Dallas, TX | 06/30/2024 |
| Scripps College EIN 951664123 | Claremont, CA | 06/30/2024 |
| Auditory Learning Foundation EIN 043652601 | San Antonio, TX | 05/31/2024 |
| Jeremy And Hannelore Grantham Environmental Trust EIN 203959397 | Boston, MA | 12/31/2023 |
| Sunflower Foundation Health Care For Kansans EIN 481241590 | Topeka, KS | 06/30/2023 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
People (13)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Bettencourt Meyers, Francoise | Shareholder | Sep 1996 (30y) | ≈ 1.41% – 7.5% via Tethys Sas | |
| Bailey, James, Nathan | Manager | Jun 2000 (26y) | ≈ 7.5% – 25% via Cambridge Associates Corp | |
| Hanna, Sean, F | Chief Compliance Officer | Aug 2015 (11y) | Less than 5% | |
| Druley, David, Ryan | Chief Executive Officer And Manager | Jul 2016 (10y) | Less than 5% | |
| Zoltowski, Scott, Michael | Chief Legal Officer | Jun 2017 (9y) | Less than 5% | |
| Cai, Xinyi | Shareholder | Nov 2017 (9y) | ≈ 2.11% – 10% via Zodiac Elements Limited | |
| Coirbay, Xavier, Paul Francois | Manager | Sep 2018 (8y) | Less than 5% | |
| Macaskill, Bridget, Ann | Chair And Manager | Sep 2018 (8y) | Less than 5% | |
| Boone, Pamela, J | Chief Financial Officer And Manager | Jun 2022 (4y) | Less than 5% | |
| Rhoades, Matthew | Manager | Sep 2022 (4y) | Less than 5% | |
| Davidson, Samantha, Schutte | President And Manager | Jul 2023 (3y) | Less than 5% | |
| Shadrin, Dmitri | Chief Operating Officer | Feb 2024 (3y) | Less than 5% | |
| Gottesman, Yoav | Manager | Oct 2024 (2y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Cambridge Associates Corp | Member | Dec 2012 | A | 10% – 25% |
| Sofina Us Llc | Member | Aug 2018 | A | 10% – 25% |
| Cambridge Associates Partners Lp | Partnership Holding Vehicle | Jan 2019 | A | 10% – 25% |
| Ca Participation Venture Limited | Member | Jun 2000 | A | 5% – 10% |
| Platanus Holding Llc | Member | Oct 2018 | A | 5% – 10% |
| Tethys Invest Corp | Member | Oct 2018 | A | 5% – 10% |
| The "J" Fund Of The E&A Settlement | Shareholder | Jun 2000 | B | ≈ 3.75% – 10% via Ca Participation Venture Limited |
| Sofina Sa | Member | May 2018 | B | ≈ 7.5% – 25% via Sofina Us Llc |
| Tethys Invest Sas | Shareholder | Oct 2018 | B | ≈ 3.75% – 10% via Tethys Invest Corp |
| Tethys Sas | Shareholder | Dec 2015 | B | ≈ 2.81% – 10% via Tethys Invest Sas |
| Wu Capital Limited | Member | Nov 2017 | B | ≈ 3.75% – 10% via Platanus Holding Llc |
| Zodiac Elements Limited | Shareholder | Nov 2017 | B | ≈ 2.81% – 10% via Wu Capital Limited |
| Green, Helen Foster | Trustee | Nov 2001 | B | GP / trustee / elected manager of The "J" Fund Of The E&A Settlement (indirect) |
| Hudson, Kelvin Mark | Trustee | Nov 2001 | B | GP / trustee / elected manager of The "J" Fund Of The E&A Settlement (indirect) |
| Saffery Champness Trust Corporation | Trustee | Dec 2012 | B | GP / trustee / elected manager of The "J" Fund Of The E&A Settlement (indirect) |
| Cambridge Associates Partners Gp Llc | General Partner | Jan 2019 | B | GP / trustee / elected manager of Cambridge Associates Partners Lp (indirect) |
Undisclosed: 0% – 55% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Bettencourt Meyers, Francoise: 50% – 75% of Tethys Sas × 75% – 100% of Tethys Invest Sas × 75% – 100% of Tethys Invest Corp × 5% – 10% direct ≈ 1.41% – 7.5% of the firm
- Bailey, James, Nathan: 75% – 100% of Cambridge Associates Corp × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Cai, Xinyi: 75% – 100% of Zodiac Elements Limited × 75% – 100% of Wu Capital Limited × 75% – 100% of Platanus Holding Llc × 5% – 10% direct ≈ 2.11% – 10% of the firm
- The "J" Fund Of The E&A Settlement: 75% – 100% of Ca Participation Venture Limited × 5% – 10% direct ≈ 3.75% – 10% of the firm
- Sofina Sa: 75% – 100% of Sofina Us Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Tethys Invest Sas: 75% – 100% of Tethys Invest Corp × 5% – 10% direct ≈ 3.75% – 10% of the firm
- Tethys Sas: 75% – 100% of Tethys Invest Sas × 75% – 100% of Tethys Invest Corp × 5% – 10% direct ≈ 2.81% – 10% of the firm
- Wu Capital Limited: 75% – 100% of Platanus Holding Llc × 5% – 10% direct ≈ 3.75% – 10% of the firm
- Zodiac Elements Limited: 75% – 100% of Wu Capital Limited × 75% – 100% of Platanus Holding Llc × 5% – 10% direct ≈ 2.81% – 10% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (77, $13.9B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Ca 2596 | Other Private Fund | $1.0B | $0 | 3 |
| Fission And Fusion, Lp | Other Private Fund | $980M | $0 | 2 |
| Rwf Fund, Lp | Other Private Fund | $850M | $0 | 2 |
| Uaf Fund, Lp Pe Class Series | Other Private Fund | $722M | $0 | 2 |
| Cn Investment Fund I Lp | Other Private Fund | $645M | $0 | 2 |
| Ca 1344 | Other Private Fund | $619M | $1.0M | 11 |
| Ca 2271 | Other Private Fund | $575M | $0 | 4 |
| Pwf Fund, Lp | Other Private Fund | $554M | $0 | 2 |
| The Ignatius Fund, Llc | Other Private Fund | $542M | $0 | 2 |
| Ca 2799 J | Other Private Fund | $482M | $0 | 1 |
| University Of Alaska Foundation Consolidated Endowment Fund, L.P. | Other Private Fund | $470M | $0 | 2 |
| Uncg Endowment Partners, L.P. | Other Private Fund | $391M | $0 | 2 |
| Ca 1481 | Other Private Fund | $384M | $0 | 18 |
| Mercury Fund Ii, Lp | Other Private Fund | $370M | $0 | 2 |
| Owu Fund, Lp | Other Private Fund | $291M | $0 | 2 |
| Sherwood Sif, Lp | Other Private Fund | $273M | $0 | 1 |
| Ca 1101 | Other Private Fund | $273M | $0 | 8 |
| Uaf Fund, Lp Hf Class Series | Other Private Fund | $253M | $0 | 2 |
| Pace University Fund, L.P. | Other Private Fund | $243M | $0 | 2 |
| Citw Fund, Lp | Other Private Fund | $232M | $0 | 1 |
| Ca 2583 | Other Private Fund | $225M | $0 | 3 |
| Pga Sif, L.P. | Other Private Fund | $216M | $0 | 2 |
| St. Luke's Foundation Sif, Lp | Other Private Fund | $197M | $0 | 2 |
| Ca Resources Fund (U.S. Tax Exempt) L.P. Series Kps Special Situations Fund V (A) | Other Private Fund | $195M | $0 | 51 |
| The Fletcher Jones Foundation Fund, Lp | Other Private Fund | $166M | $0 | 2 |
Top 25 of 77 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Retirement plans served (45)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Pension Plan For The Office Employees Of The New York Philharmonic Symphony Society Of Ny, Inc. | The Philharmonic Symphony Society Of New York, Inc. | 16 | $18.3M | 09/01/2024 |
| Medianews Group Pension Plan | Medianews Group, Inc. | 188 | $444M | 09/01/2024 |
| The New York Philharmonic Orchestra Pension Plan | The Philharmonic Symphony Society Of New York, Inc. | 95 | $65.2M | 09/01/2024 |
| Pension Plan Of The Pacific Northwest Laboratories Battelle Memorial Institute | Battelle Memorial Institute | 5,379 | $1.9B | 07/01/2024 |
| Equity League Pension Trust Fund | Board Of Trustees Of The Equity League Pension Trust Fund | 22,180 | $2.4B | 06/01/2024 |
| The National Football League Club Employees Pension Plan | Multiple Employers | 4,544 | $2.2B | 04/01/2024 |
| Nfl Game Officials' Pension Plan | National Football League | 39 | $107M | 04/01/2024 |
| Nfl Pension Plan | National Football League | 1,600 | $544M | 04/01/2024 |
| Enbridge Gas Ohio Union Pension Plan | Enbridge Employee Services, Inc. | 973 | $471M | 03/07/2024 |
| The National Football League Capital Accumulation Plan | Indianapolis Colts, Inc. | 263 | $71.9M | 01/01/2024 |
| Loyola University Employees' Retirement Plan | Loyola University Of Chicago Attn Benefits Department | 797 | $154M | 01/01/2024 |
| The National Football League Capital Accumulation Plan | Buffalo Bills, Llc | 298 | $91.1M | 01/01/2024 |
| Enbridge Employee Services, Inc. Employees' Pension Plan | Enbridge Employee Services, Inc. | 5,354 | $1.1B | 01/01/2024 |
| Directors Guild Of America Producer Pension Plan Supplemental Benefit Plan | Board Of Trustees, Directors Guild Of America | 22,976 | $2.3B | 01/01/2024 |
| Directors Guild Of America Producer Pension Plan Basic Benefit Plan | Board Of Trustees, Directors Guild Of America | 7,905 | $2.5B | 01/01/2024 |
| Retirement Plan For Employees Of Woods Hole Oceanographic Institution | Woods Hole Oceanographic Institution | 263 | $193M | 01/01/2024 |
| The National Football League Capital Accumulation Plan | Chargers Football Company | 277 | $53.4M | 01/01/2024 |
| The National Football League Capital Accumulation Plan | National Football League | 2,051 | $254M | 01/01/2024 |
| The National Football League Capital Accumulation Plan | National Football League | 143 | $99.4M | 01/01/2024 |
| Sidley Austin Llp Retirement Plan For Partners | Sidley Austin Llp | 573 | $435M | 01/01/2024 |
| Sidley Austin Llp Cash Balance Retirement Plan For Partners | Sidley Austin Llp | 581 | $606M | 01/01/2024 |
| Sidley Austin Llp Retirement Plan | Sidley Austin Llp | 1,304 | $349M | 01/01/2024 |
| Main Line Health, Inc. Retirement Income Plan | Main Line Health, Inc. | 10,364 | $1.6B | 01/01/2024 |
| Allegheny Technologies Incorporated Pension Plan | Ati Inc. | 1,108 | $280M | 01/01/2024 |
| Hawaii Pacific Health Retirement Plan | Hawaii Pacific Health | 5,817 | $430M | 01/01/2024 |
Top 25 of 45 plans by assets.
From Form 5500 service-provider disclosures.
Foundations & charities (37)
| Organization | Type | Assets | As of |
|---|---|---|---|
| Thrivent Charitable Impact & Investing | Public charity | $940M | 12/31/2024 |
| Sealy & Smith Foundation | Public charity | $2.3B | 12/31/2024 |
| The Reach Healthcare Foundation | Public charity | $153M | 12/31/2024 |
| Childrens Healthcare Of Atlanta Inc | Public charity | $9.7B | 12/31/2024 |
| Oregon Community Foundation | Public charity | $3.3B | 12/31/2024 |
| Permanent Endowment Fund Of The Moody Memorial First United Method | Public charity | $412M | 12/31/2024 |
| Exeter Health Resources | Public charity | $298M | 09/30/2024 |
| Indianapolis Symphony Orchestra Fou Ndation Inc | Public charity | $121M | 08/31/2024 |
| Buena Vista University | Public charity | $250M | 06/30/2024 |
| Mccallie School Inc | Public charity | $285M | 06/30/2024 |
| College Of The Atlantic | Public charity | $150M | 06/30/2024 |
| Montana Community Foundation Inc | Public charity | $189M | 06/30/2024 |
| Texas State University Development Foundation | Public charity | $130M | 06/30/2024 |
| Kalamazoo College | Public charity | $450M | 06/30/2024 |
| Orange County Community Foundation | Public charity | $688M | 06/30/2024 |
| St Bernards School Inc | Public charity | $160M | 06/30/2024 |
| Gulf Coast Community Foundation Inc | Public charity | $483M | 06/30/2024 |
| Vivian Beaumont Theater Inc | Public charity | $169M | 06/30/2024 |
| Dallas Museum Of Art | Public charity | $319M | 06/30/2024 |
| The American University Of Greece Foundation | Public charity | $267M | 06/30/2024 |
| Hollins University Corporation | Public charity | $388M | 06/30/2024 |
| Kansas University Endowment Assoc | Public charity | $3.2B | 06/30/2024 |
| William & Mary Foundation | Public charity | $1.3B | 06/30/2024 |
| Connecticut College | Public charity | $755M | 06/30/2024 |
| University Of Nevada Reno Foundation | Public charity | $531M | 06/30/2024 |
Top 25 of 37 organizations by assets.
From IRS Form 990 investment-management-fee disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 04/29/2026 | 17.9 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Hourly charges
- • Subscription fees
- • Fixed fees
- • Performance-based fees
- • Other fees
- • PERCENT OF ASSETS INVESTED
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
- • Selection of other advisers
- • Publication of periodicals or newsletters
- • Educational seminars/workshops
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Apr 29, 2026.
View current Form ADV (SEC/IAPD) ↗