Arsenal Capital Management Lp
- Regulatory AUM
- $9.7B
- Discretionary
- $9.7B
- Clients
- 27
- Avg AUM / client
- $360M
- Accounts
- 27
- Employees
- 91
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) | 27 | $9.7B | 100.0% |
Private funds (24)
View all →Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $10.6B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Arsenal Capital Partners Vi B Lp | Private Equity Fund | Delaware | $2.3B | 71 |
| Arsenal Capital Partners Vi Lp | Private Equity Fund | Delaware | $1.7B | 74 |
| Arsenal Capital Partners V Lp | Private Equity Fund | Delaware | $1.6B | 83 |
| Arsenal Capital Partners V B Lp | Private Equity Fund | Delaware | $1.2B | 38 |
| Arsenal Capital Partners Iv Lp | Private Equity Fund | Delaware | $895M | 57 |
| Arsenal Capital Partners Iv B Lp | Private Equity Fund | Delaware | $662M | 30 |
| Arsenal Capital Partners Growth B Lp | Private Equity Fund | Delaware | $568M | 47 |
| Arsenal Capital Partners Growth Lp | Private Equity Fund | Delaware | $421M | 70 |
| Arsenal Revolution Plastics Co Invest 2 Lp | Private Equity Fund | Delaware | $200M | 7 |
| Acp Wcg Co Invest 1 2020 Llc | Private Equity Fund | Delaware | $182M | 13 |
| Arsenal Revolution Plastics Co Invest 1 Lp | Private Equity Fund | Delaware | $130M | 5 |
| Arsenal Capital Partners Iii Lp | Private Equity Fund | Delaware | $128M | 55 |
| Arsenal Io Co Invest 1 Lp | Private Equity Fund | Delaware | $115M | 13 |
| Arsenal Capital Partners Iii B Lp | Private Equity Fund | Delaware | $102M | 37 |
| Acp Wcg Co Invest 2 2020 Lp | Private Equity Fund | Delaware | $95.1M | 7 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| 3 M Employee Retirement Income Plan 3 M Company | 2024 |
People (3)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Mullen, Terrence, Maxwell | Co Chief Investment Officer | Oct 2000 (26y) | 50% – 75% | |
| Kovach, Jeffrey, Brian | Co Chief Investment Officer | Jan 2004 (23y) | ≈ 0% – 3.75% via Arsenal Capital Group Llc | |
| Scrudato, Frank | Chief Financial Officer & Chief Compliance Officer Of Registrant And Relying Advisers | Feb 2014 (13y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Arsenal Capital Group Llc | General Partner, Arsenal Capital Management Lp | May 2001 | A | Less than 5% |
| Terrence M. Mullen Revocable Trust | Member | Sep 2023 | B | ≈ 0% – 3.75% via Arsenal Capital Group Llc |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Kovach, Jeffrey, Brian: 50% – 75% of Arsenal Capital Group Llc × 0% – 5% direct ≈ 0% – 3.75% of the firm
- Terrence M. Mullen Revocable Trust: 50% – 75% of Arsenal Capital Group 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 (24, $10.6B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Arsenal Capital Partners Vi B Lp | Private Equity Fund | $2.3B | $10.0M | 71 |
| Arsenal Capital Partners Vi Lp | Private Equity Fund | $1.7B | $10.0M | 74 |
| Arsenal Capital Partners V Lp | Private Equity Fund | $1.6B | $10.0M | 83 |
| Arsenal Capital Partners V B Lp | Private Equity Fund | $1.2B | $10.0M | 38 |
| Arsenal Capital Partners Iv Lp | Private Equity Fund | $895M | $10.0M | 57 |
| Arsenal Capital Partners Iv B Lp | Private Equity Fund | $662M | $10.0M | 30 |
| Arsenal Capital Partners Growth B Lp | Private Equity Fund | $568M | $10.0M | 47 |
| Arsenal Capital Partners Growth Lp | Private Equity Fund | $421M | $10.0M | 70 |
| Arsenal Revolution Plastics Co Invest 2 Lp | Private Equity Fund | $200M | $0 | 7 |
| Acp Wcg Co Invest 1 2020 Llc | Private Equity Fund | $182M | $0 | 13 |
| Arsenal Revolution Plastics Co Invest 1 Lp | Private Equity Fund | $130M | $0 | 5 |
| Arsenal Capital Partners Iii Lp | Private Equity Fund | $128M | $10.0M | 55 |
| Arsenal Io Co Invest 1 Lp | Private Equity Fund | $115M | $0 | 13 |
| Arsenal Capital Partners Iii B Lp | Private Equity Fund | $102M | $10.0M | 37 |
| Acp Wcg Co Invest 2 2020 Lp | Private Equity Fund | $95.1M | $0 | 7 |
| Arsenal Capital Partners Vi Executive Lp | Private Equity Fund | $65.5M | $0 | 46 |
| Acp Wcg Co Invest 3 2020 Lp | Private Equity Fund | $50.0M | $0 | 8 |
| Acp Wcg Co Invest 4 2020 Lp | Private Equity Fund | $44.2M | $0 | 7 |
| Arsenal Io Co Invest 2 Lp | Private Equity Fund | $40.4M | $0 | 13 |
| Arsenal Io Co Invest 3 Lp | Private Equity Fund | $28.9M | $0 | 3 |
| Arsenal Value Demonstration Co Invest 2 Lp | Private Equity Fund | $26.3M | $0 | 4 |
| Acp Biospecimen Holdings, Llc | Private Equity Fund | $20.7M | $0 | 8 |
| Arsenal Value Demonstration Co Invest 1 Lp | Private Equity Fund | $18.4M | $0 | 4 |
| Arsenal Capital Partners Growth Executive Lp | Private Equity Fund | $15.0M | $0 | 24 |
From Form ADV Section 7.B private fund reporting.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| 3 M Employee Retirement Income Plan | 3 M Company | 6,472 | $8.9B | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 6.67 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
- • MANAGEMENT AGREEMENTS WITH PORTFOLIO COMPANIES.
Services
- • Portfolio management for pooled investment vehicles
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: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗