Norcap Investment Management, L.P.
- Regulatory AUM
- $351M
- Discretionary
- $351M
- Clients
- 5
- Avg AUM / client
- $70.1M
- Accounts
- 5
- Employees
- 8
AUM over time
Reported AUM from Form ADV filings, plotted by filing date · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 5 | $351M | 100.0% |
Private funds (5)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $204M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Norcap Diversified Premium Fund, L.P. master | Hedge Fund | Delaware | $125M | 70 |
| Norcap Premium Plus Fund, L.P. master | Hedge Fund | Delaware | $46.8M | 49 |
| Govplus Fund Ai, L.P. master | Hedge Fund | Delaware | $31.0M | 61 |
| Series A: Norcap Real Estate Securities Fund master | Hedge Fund | Delaware | $2.0M | 4 |
| Norcap Securities Fund, L.P. | Hedge Fund | Delaware | $0 | 0 |
People (4)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Norcom, David, Russell | Limited Partner | Sep 2004 (22y) | 25% – 50% | |
| Walters, James, Bolton | Chairman, Chief Executive Officer, Chief Compliance Officer | Sep 2020 (6y) | Less than 5% | |
| Tananbaum, Kenneth, Lewis | Secretary; Portfolio Manager | Dec 2022 (4y) | Less than 5% | |
| Walters, Robert, Leonard | Executive Vice President | Dec 2022 (4y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Bag Securities, L.L.C. | Limited Partner | Sep 2020 | A | 50% – 75% |
| Norcap Advisors, Llc | General Partner | Sep 2004 | A | Less than 5% |
| Bag Securities, L.L.C. | Manager And Member | Sep 2020 | B | ≈ 0% – 3.75% via Norcap Advisors, Llc |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Bag Securities, L.L.C.: 50% – 75% of Norcap Advisors, Llc × 0% – 5% direct ≈ 0% – 3.75% 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 (5, $204M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Norcap Diversified Premium Fund, L.P. | Hedge Fund | $125M | $1.0M | 70 |
| Norcap Premium Plus Fund, L.P. | Hedge Fund | $46.8M | $500K | 49 |
| Govplus Fund Ai, L.P. | Hedge Fund | $31.0M | $250K | 61 |
| Series A: Norcap Real Estate Securities Fund | Hedge Fund | $2.0M | $500K | 4 |
| Norcap Securities Fund, L.P. | Hedge Fund | $0 | $500K | 0 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 2.19 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
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports it does not have 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: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗