Fpa Real Estate Advisers Group, Llc
- Regulatory AUM
- $8.0B
- Discretionary
- $8.0B
- Clients
- 33
- Avg AUM / client
- $242M
- Accounts
- 33
- Employees
- 110
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) | 33 | $8.0B | 100.0% |
Private funds (9)
Reported in Form ADV Section 7.B.(1), filing of Sep 2024 · $603M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Fpa Core Plus Feeder Fund Iv, Lp feeder | Real Estate Fund | Delaware | $259M | 114 |
| Fpa Investor Holdco Viii, Llc | Real Estate Fund | Delaware | $134M | 95 |
| Fpa Investor Holdco Vii, Llc | Real Estate Fund | Delaware | $97.6M | 84 |
| Fpa Investor Holdco Vi, Llc | Real Estate Fund | Delaware | $29.9M | 96 |
| Fpacp Investor Holdco Vi, Llc | Real Estate Fund | Delaware | $25.9M | 5 |
| Fpacp Investor Holdco V, Llc | Real Estate Fund | Delaware | $22.9M | 17 |
| Fpacp Investor Holdco Iv, Llc | Real Estate Fund | Delaware | $21.9M | 31 |
| Fpacp Investor Holdco Iii, Llc | Real Estate Fund | Delaware | $12.5M | 8 |
| Fpa Investor Holdco Iv, Llc | Real Estate Fund | Delaware | $79.8K | 50 |
People (5)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Fowler, Gregory, Arthur | Trustee | Apr 1995 (31y) | Less than 5% | |
| Clark, Joseph, Anthony | Chief Financial Officer (Cfo) | Mar 2017 (9y) | Less than 5% | |
| Earl, Michael, Bruce | Elected Manager/Chairman | Mar 2017 (9y) | Less than 5% | |
| Sanders, Michelle, Cowden | Controller | Mar 2017 (9y) | Less than 5% | |
| Malone, Kathleen, Kuzmen | Chief Compliance Officer | May 2023 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Gregory A. Fowler Living Trust Gregory A. Fowler, Trustee | Member | Mar 2017 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
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 (9, $603M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Fpa Core Plus Feeder Fund Iv, Lp | Real Estate Fund | $259M | $250K | 114 |
| Fpa Investor Holdco Viii, Llc | Real Estate Fund | $134M | $10.0K | 95 |
| Fpa Investor Holdco Vii, Llc | Real Estate Fund | $97.6M | $10.0K | 84 |
| Fpa Investor Holdco Vi, Llc | Real Estate Fund | $29.9M | $10.0K | 96 |
| Fpacp Investor Holdco Vi, Llc | Real Estate Fund | $25.9M | $10.0K | 5 |
| Fpacp Investor Holdco V, Llc | Real Estate Fund | $22.9M | $10.0K | 17 |
| Fpacp Investor Holdco Iv, Llc | Real Estate Fund | $21.9M | $10.0K | 31 |
| Fpacp Investor Holdco Iii, Llc | Real Estate Fund | $12.5M | $10.0K | 8 |
| Fpa Investor Holdco Iv, Llc | Real Estate Fund | $79.8K | $10.0K | 50 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 2.97 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Allegations: THE SEC ALLEGED THAT FPA REAG FAILED TO HAVE AUDITS PERFORMED OF CERTAIN FUNDS AND TIMELY DISTRIBUTE THE AUDITS TO INVESTORS IN VIOLATION OF THE CUSTODY RULE AND TO IMPLEMENT POLICIES AND PROCEDURES DESIGNED TO PREVENT SUCH VIOLATIONS. FURTHER, THE SEC ALLEGED THAT FPA REAG DID NOT IMPLEMENT EXISTING POLICIES AND PROCEDURES TO REVIEW, ON AN ANNUAL BASIS, THE FEES CHARGED BY AFFILIATES FOR PROPERTY MANAGEMENT AND CONSTRUCTION SERVICES. Status: Final Sanction Detail: $300,000 PAID ON AUGUST 21, 2024. Summary: FPA REAG WAS ORDERED TO PAY $300,000 IN PENALTIES. FPA REAG PAID THAT AMOUNT ON AUGUST 21, 2024.
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Performance-based fees
- • Other fees
- • PERCENTAGE OF COMMITTED OR INVESTED CAPITAL
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) ↗