Water Asset Management, LLC is an SEC-registered investment adviser based in New York, NY that reports managing 3 hedge funds on Form ADV. It reports $780.9 million in regulatory assets under management. Its private funds, of all types, hold $777.4 million in gross assets.
- Regulatory assets under management
- $780.9 millionForm ADV Item 5.F
- Gross assets of private funds
- $777.4 millionAll private fund types, Form ADV
- Hedge funds managed
- 313 private funds in total
- Employees
- 16Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 151508
- Latest Form ADV
- 05/04/2026Disciplinary disclosures: none reported
Private funds reported on Form ADV (7)
Fund
Gross assets
Minimum
Owners
Adviser
Water Property Investor LP
Delaware, United StatesPrivate equity fund
Gross assets$226M
Minimum$1.0M
Owners70
AdviserWater Asset Management, LLC
Water Property Investor II LP
Delaware, United StatesPrivate equity fund
Gross assets$162M
Minimum$1.0M
Owners49
AdviserWater Asset Management, LLC
U.S. Water and Land Investment, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$77.0M
Minimum$1.0M
Owners80
AdviserWater Asset Management, LLC
WAM Global Water Equity, LP
Delaware, United StatesPrivate fund
Gross assets$30.6M
Minimum$1.0M
Owners31
AdviserWater Asset Management, LLC
Water Property Investors, LLC
Delaware, United StatesPrivate equity fund
Gross assets$25.9M
Minimum$1.0M
Owners28
AdviserWater Asset Management, LLC
TRF Master Fund (Cayman) LP
Cayman IslandsHedge fund
Gross assets$19.6M
Minimum$1.0M
Owners3
AdviserWater Asset Management, LLC
Water Property Investor III LP
Delaware, United StatesPrivate equity fund
Gross assets$11.4M
Minimum$1.0M
Owners8
AdviserWater Asset Management, LLC
As reported in the adviser's Form ADV filed Apr 26, 2024. Funds also listed from Form D are shown above.
Fund vehicles: feeder funds and single-deal vehicles (3)
Fund
Gross assets
Minimum
Owners
Adviser
WPI Emporia Coinvestment Fund LP
Delaware, United StatesPrivate equity fund
Gross assets$101M
Minimum$1.0M
Owners81
AdviserWater Asset Management, LLC
TRF LLC
Delaware, United StatesHedge fund
Gross assets$13.4M
Minimum$1.0M
Owners32
AdviserWater Asset Management, LLC
TRF Feeder Fund (Cayman), LP
Cayman IslandsHedge fund
Gross assets$8.3M
Minimum$1.0M
Owners8
AdviserWater Asset Management, LLC
Feeder funds invest through a master fund; single-deal vehicles (SPVs, co-investments, series) hold one investment.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. AltMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures