SEC-registered firm
Registration does not mean the SEC approves or recommends the firm, and it does not imply a certain level of skill or training.
NB Alternatives Advisers LLC
Dallas, TX
CRD 149822
Firm filing updated March 27, 2026 ·
- $160.2BAssets
- 379Clients
- 224Advisory staff
- 379Accounts
Fees and minimums
All fee types on the form
- Percentage of assets under managementYes
- Fixed feesYes
- Performance-based feesYes
- Hourly chargesNo
- Subscription fees (for a newsletter or periodical)No
- CommissionsNo
- OtherNo
Who the firm serves
- Pooled vehicles192
- Insurance companies61
- Pension and profit sharing plans48
- Banks28
- Investment companies16
- and 6 more34
See the client table
| Client type | Approximate number of clients | Assets |
|---|---|---|
| High net worth individuals | 2 | $544.2 million |
| Banking or thrift institutions | 28 | $11.9 billion |
| Investment companies | 16 | $4.2 billion |
| Pooled investment vehicles (other than investment companies and business development companies) | 192 | $89.1 billion |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 48 | $22.9 billion |
| Charitable organizations | 4 | $491.4 million |
| State or municipal government entities (including government pension plans) | 9 | $7.9 billion |
| Other investment advisors | 4 | $466.0 million |
| Insurance companies | 61 | $20.0 billion |
| Sovereign wealth funds and foreign official institutions | 9 | $1.4 billion |
| Corporations or other businesses not listed above | 6 | $1.4 billion |
What the client labels mean
Here, "individuals" includes trusts, estates, and IRAs of individuals. A "high net worth individual" is a qualified client or qualified purchaser.
Services
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
See all 5 services
- Selection of other advisors (including private fund managers)
- Educational seminars/workshops
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisors (including private fund managers)
- Educational seminars/workshops
Assets and accounts
- Regulatory assets$160.2 billion
- Accounts379
- Discretionary$141.7 billion · 336 accounts
- Non-discretionary$18.6 billion · 43 accounts
People
- Employees417
- Advisory staff224
- Broker-dealer reps169
- Licensed insurance agents0
- Planning clients0
Registration details
- SEC-registered investment advisor. CRD 149822, SEC file 801-70009.
- Registered with the SEC as an investment advisor (status date on record: March 31, 2009).
Is NB Alternatives Advisers LLC a fiduciary?
Short answer: NB Alternatives Advisers LLC is registered with the SEC as an investment advisor.
More detail
Some of its people may also act in other roles, such as for a broker-dealer or as insurance agents, where different rules apply. Details below.
The SEC put it this way in 2019: 'Under federal law, an investment adviser is a fiduciary.'
Some of the firm's people may also act for a broker-dealer: 169 staff are broker-dealer representatives and the firm has a related broker-dealer. When someone acts for a broker-dealer, a different SEC standard, Regulation Best Interest, applies to their recommendations. Ask which role they are acting in.
The firm has a related insurance company or agency.
The firm's Form CRS explains its services, fees and conflicts in plain language: Form CRS.
About this data
Informational only. Advisable Finance is not an investment advisor, does not give investment advice, and does not endorse any advisor.