Pentwater Capital Management Lp
- Regulatory AUM
- $19.3B
- Discretionary
- $19.3B
- Clients
- 23
- Avg AUM / client
- $838M
- Accounts
- 23
- Employees
- 45
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 21 | $18.2B | 94.4% |
| Corporations and other businesses | 2 | $1.1B | 5.62% |
Private funds (8)
Reported in Form ADV Section 7.B.(1), filing of Sep 2024 · $7.3B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Pentwater Merger Arbitrage Master Fund Ltd master | Hedge Fund | Cayman Islands | $3.3B | 84 |
| Pwcm Master Fund Ltd master | Hedge Fund | Cayman Islands | $1.6B | 61 |
| Oceana Master Fund Ltd master | Hedge Fund | Cayman Islands | $1.2B | 1 |
| Pentwater Equity Opportunities Master Fund Ltd. master | Hedge Fund | Cayman Islands | $953M | 7 |
| Pentwater Credit Master Fund Ltd. master | Hedge Fund | Cayman Islands | $190M | 7 |
| Pentwater Unconstrained Master Fund Ltd. master | Hedge Fund | Cayman Islands | $98.4M | 1 |
| Pentwater Metric Merger Arbitrage Fund Lp | Hedge Fund | Cayman Islands | $1.6M | 1 |
| Pentwater Thanksgiving Fund Lp | Hedge Fund | Cayman Islands | $746K | 1 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| The Citigroup Pension Plan Citigroup Inc. | 2024 |
People (6)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Halbower, Matthew, Charles | Chief Executive Officer | Jan 2007 (20y) | ≈ 0% – 5% via Halbower Holdings Inc. | |
| Zirin, David, Morris | Chief Operating Officer | Apr 2007 (19y) | Less than 5% | |
| Halbower, Julie, Schulz | Trustee | Jul 2007 (19y) | GP / trustee / elected manager of Halbower Legacy Trust (indirect) | |
| Halbower, Susan, Lee | Trustee | Jul 2007 (19y) | GP / trustee / elected manager of Halbower Legacy Trust (indirect) | |
| Tavakolian, Hooman, David | Chief Compliance Officer | Aug 2022 (4y) | Less than 5% | |
| Kalleekal, Joyce | Chief Financial Officer | Jun 2023 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Pentwater Partners Lp | Limited Partner | Aug 2024 | A | 75% or more |
| Halbower Holdings Inc. | General Partner | Jul 2007 | A | Less than 5% |
| Halbower Legacy Trust | Limited Partner | Aug 2024 | B | ≈ 18.75% – 50% via Pentwater Partners Lp |
| Halbower Holdings Inc. | General Partner | Aug 2024 | B | GP / trustee / elected manager of Pentwater Partners Lp (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Halbower, Matthew, Charles: 75% – 100% of Halbower Holdings Inc. × 0% – 5% direct ≈ 0% – 5% of the firm
- Halbower Legacy Trust: 25% – 50% of Pentwater Partners Lp × 75% – 100% direct ≈ 18.75% – 50% 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 (8, $7.3B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Pentwater Merger Arbitrage Master Fund Ltd | Hedge Fund | $3.3B | $100K | 84 |
| Pwcm Master Fund Ltd | Hedge Fund | $1.6B | $100K | 61 |
| Oceana Master Fund Ltd | Hedge Fund | $1.2B | $100K | 1 |
| Pentwater Equity Opportunities Master Fund Ltd. | Hedge Fund | $953M | $100K | 7 |
| Pentwater Credit Master Fund Ltd. | Hedge Fund | $190M | $100K | 7 |
| Pentwater Unconstrained Master Fund Ltd. | Hedge Fund | $98.4M | $100K | 1 |
| Pentwater Metric Merger Arbitrage Fund Lp | Hedge Fund | $1.6M | $100K | 1 |
| Pentwater Thanksgiving Fund Lp | Hedge Fund | $746K | $100K | 1 |
From Form ADV Section 7.B private fund reporting.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| The Citigroup Pension Plan | Citigroup Inc. | 14,217 | $10.0B | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 4.47 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
This firm answered "yes" to a disciplinary item on its latest filing. Detailed disclosure pages for this filing have not been imported yet — see the source filing below.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- UBS $1.1B (6% of AUM) Mar 2026
- Citigroup Global Markets Inc. $633M (3% of AUM) Mar 2026
- Bofa Securities, Inc. $251M (1% of AUM) Mar 2026
- Goldman Sachs $180M (1% of AUM) Mar 2026
- Credit Suisse Securities (Usa) Llc $144M (1% of AUM) Dec 2021
- Mufg Alternative Fund Services (Cayman) Ltd $49.4M (1% of AUM) Jun 2023
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗