Pathlight Capital Lp
- Regulatory AUM
- $3.5B
- Discretionary
- $3.5B
- Clients
- 14
- Avg AUM / client
- $251M
- Accounts
- 14
- Employees
- 30
AUM over time
Annual snapshots from Form ADV filings · as of Mar 30, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 13 | $3.5B | 100.0% |
| Other | 1 | $1 | 0.0% |
Private funds (7)
Reported in Form ADV Section 7.B.(1), filing of Nov 2024 · $2.2B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Pathlight Capital Fund Ii Lp | Private Equity Fund | Delaware | $1.1B | 79 |
| Pathlight Capital Fund Iii Lp | Private Equity Fund | Delaware | $443M | 36 |
| Pathlight Capital Fund I Lp | Private Equity Fund | Delaware | $361M | 45 |
| Pathlight Capital Evergreen Fund Lp master | Private Equity Fund | Delaware | $204M | 13 |
| Pathlight Capital Master Fund Ii, Lp master | Private Equity Fund | Cayman Islands | $72.4M | 13 |
| Pathlight Capital Master Fund I, Lp master | Private Equity Fund | Cayman Islands | $24.5M | 11 |
| Pathlight Capital Co Invest Lp | Private Equity Fund | Delaware | $23.6M | 4 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Nextera Energy, Inc. Employee Pension Plan Nextera Energy, Inc. | 2024 | |
| The Southern Company Pension Plan Southern Company Services, Inc. | 2024 |
People (5)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Hendricks, Katherine, Appleton | Managing Director | Nov 2017 (9y) | 5% – 10% | |
| Platt, Daniel, Thomas | Chief Executive Officer | Nov 2017 (9y) | 50% – 75% | |
| Twomey, Mark, Daniel | Managing Director | Nov 2017 (9y) | 5% – 10% | |
| Migliero, Steven, Anthony | Chief Operating Officer | Aug 2020 (6y) | 5% – 10% | |
| Quirk, Michael, William | Chief Financial Officer / Chief Compliance Officer | Apr 2022 (4y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Aacp Pl Spv Llc | Limited Partner | Jul 2021 | A | 10% – 25% |
| Pathlight Gp Llc | General Partner Of Pathlight Capital Lp | Nov 2017 | A | Less than 5% |
| Azimut Alternative Capital Partners | Member | Jul 2021 | B | ≈ 7.5% – 25% via Aacp Pl Spv Llc |
| Az Us Holdings Llc | Member | Jul 2021 | B | ≈ 5.63% – 25% via Azimut Alternative Capital Partners |
| Azimut Uk Holdings Ltd | Member | Jul 2021 | B | ≈ 4.22% – 25% via Az Us Holdings Llc |
| Azimut Holdings Spa | Member | Jul 2021 | B | ≈ 3.16% – 25% via Azimut Uk Holdings Ltd |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Azimut Alternative Capital Partners: 75% – 100% of Aacp Pl Spv Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Az Us Holdings Llc: 75% – 100% of Azimut Alternative Capital Partners × 75% – 100% of Aacp Pl Spv Llc × 10% – 25% direct ≈ 5.63% – 25% of the firm
- Azimut Uk Holdings Ltd: 75% – 100% of Az Us Holdings Llc × 75% – 100% of Azimut Alternative Capital Partners × 75% – 100% of Aacp Pl Spv Llc × 10% – 25% direct ≈ 4.22% – 25% of the firm
- Azimut Holdings Spa: 75% – 100% of Azimut Uk Holdings Ltd × 75% – 100% of Az Us Holdings Llc × 75% – 100% of Azimut Alternative Capital Partners × 75% – 100% of Aacp Pl Spv Llc × 10% – 25% direct ≈ 3.16% – 25% 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 (7, $2.2B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Pathlight Capital Fund Ii Lp | Private Equity Fund | $1.1B | $5.0M | 79 |
| Pathlight Capital Fund Iii Lp | Private Equity Fund | $443M | $0 | 36 |
| Pathlight Capital Fund I Lp | Private Equity Fund | $361M | $0 | 45 |
| Pathlight Capital Evergreen Fund Lp | Private Equity Fund | $204M | $0 | 13 |
| Pathlight Capital Master Fund Ii, Lp | Private Equity Fund | $72.4M | $0 | 13 |
| Pathlight Capital Master Fund I, Lp | Private Equity Fund | $24.5M | $0 | 11 |
| Pathlight Capital Co Invest Lp | Private Equity Fund | $23.6M | $0 | 4 |
From Form ADV Section 7.B private fund reporting.
Retirement plans served (2)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Nextera Energy, Inc. Employee Pension Plan | Nextera Energy, Inc. | 15,485 | $5.3B | 01/01/2024 |
| The Southern Company Pension Plan | Southern Company Services, Inc. | 26,369 | $15.3B | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/30/2026 | 2.82 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
- • Performance-based fees
- • Other fees
- • TRANSACTION BASED FEES
Services
- • Portfolio management for pooled investment vehicles
Custody
Reported custodians
- J.P. Morgan $9.9M (0% of AUM) Mar 2025
- BNY Mellon $7.3M (0% of AUM) Sep 2022
- First Republic Bank $2.1M (0% of AUM) Nov 2023
- Wells Fargo $1.2M (0% of AUM) Sep 2022
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 30, 2026.
View current Form ADV (SEC/IAPD) ↗