PlusTick's current regulatory AUM provides scale context but requires careful interpretation. Adviser-profile data dated March 26, 2026 reports approximately $280.8 million of assets under management and roughly $250.2 million in private-fund gross asset value. The 2026 Form D separately reports $144.626 million sold historically through PlusTick Partners (QP), LP. These figures answer different questions. Regulatory AUM approximates assets currently managed under Form ADV definitions; gross private-fund assets measure gross asset value of reported fund holdings; cumulative Form D sales measure subscriptions reported in an exempt securities offering. None should be casually substituted for another.
REPUTATION, SERVICE PROVIDERS, RISKS AND FINAL ASSESSMENT
PlusTick's regulatory footprint significantly reduces basic identity uncertainty. Its domain plustickpartners.com is live and describes the firm consistently with regulatory records. PlusTick Management has SEC investment-adviser registration, a stable CRD/SEC number and an independently searchable IAPD record. The private fund is directly disclosed in Form ADV, and its GP is identified both in Form ADV and repeated Form D filings. More than ten years of filings establish a much longer operating record than the newly organized 2026 vehicles appearing elsewhere in the private-fund market.
That stronger regulatory transparency does not eliminate investment risk. A concentrated event-driven manager can experience substantial drawdowns if anticipated catalysts fail, distressed assets deteriorate further or market liquidity disappears. Credit investments introduce default, recovery and restructuring uncertainty; high-yield securities can become highly illiquid during periods of stress; equities in financially or operationally challenged companies can lose most of their value. Flexible mandates also increase manager discretion because the portfolio's security mix can change materially over time.
Liquidity deserves particular attention. Event-driven portfolios sometimes hold publicly traded securities, but that does not mean fund interests themselves are liquid. Partnership documents can impose lockups, redemption notice periods, investor-level gates, fund-level gates, side pockets or suspension provisions. In stressed markets, securities that appeared liquid can also become difficult to exit without significant discounts. Prospective investors should therefore review both underlying asset liquidity and LP redemption rights.
Valuation is another important issue. Exchange-traded positions have observable market prices, whereas distressed claims, private investments, restricted securities or complex credit instruments may require manager or third-party fair-value estimates. Investors should establish how frequently NAV is calculated, when securities can be marked using models rather than quoted prices, who reviews those marks and how valuation disagreements are resolved.
Fee economics also require the full offering documentation. The 2026 Form D states that the Investment Manager receives customary management fees but reports $0 under Item 16 because the filing does not quantify those fees there. Form ADV confirms that PlusTick receives asset-based and performance-based compensation. Investors should therefore obtain the exact management-fee percentage, incentive allocation, hurdle rate if any, high-water mark, expense allocation, organizational expenses and whether any portfolio-company or transaction fees offset management fees.
Operational diligence should include the administrator, auditor, prime broker/custodian, legal counsel and tax preparer. Form ADV private-fund schedules can provide service-provider information beyond the basic Form D, but the investor should verify the current service providers for the exact vehicle and year rather than relying on historical records. The master-feeder structure also means offshore and domestic vehicles may use overlapping but not necessarily identical providers.
From a reputation perspective, the SEC adviser summary reviewed for this article does not display a disciplinary history for PlusTick Management. That is a relevant regulatory fact but should be interpreted narrowly. It does not mean no commercial dispute, employee matter, portfolio-company litigation or investor disagreement has ever occurred. A complete institutional due-diligence process would additionally examine federal and Virginia court records, FINRA records where relevant, bankruptcy databases, manager employment histories and audited financial statements.
The final assessment is therefore materially stronger than for a newly launched fund whose manager cannot be connected to a regulatory record. PlusTick Partners has operated through a documented private-fund structure since 2014; PlusTick Management became an SEC-registered investment adviser in 2018; the same GP/manager framework appears consistently across Form D and Form ADV; the official website matches the regulatory address and investment-business identity; and the September 18, 2026 filing reports $144.626 million sold to 93 investors. These are substantial independent indicators of an established U.S. alternative-investment operation.
The key diligence issue has therefore moved from identity verification to investment economics. Prospective investors should request current audited financial statements, monthly or annual net performance, maximum drawdown, volatility, gross and net exposures, top-position concentration, historical realized-versus-unrealized attribution, leverage, liquidity buckets, redemption terms, management and incentive fees, administrator information and details of the offshore feeder. Performance should be reviewed after all fees and compared across complete market cycles rather than selected profitable trades.
PlusTick's SEC registration should also be described accurately. PlusTick Management LLC is an SEC-registered investment adviser. PLUSTICK PARTNERS (QP), LP itself is a private pooled investment vehicle relying on exemptions from public securities registration and investment-company registration. SEC registration of the adviser does not mean the SEC approves the fund, its strategy, its portfolio holdings or future returns.
SEC SNAPSHOT
REVIEWED BRAND: PlusTick Partners
PRIVATE FUND: PLUSTICK PARTNERS (QP), LP
PRIVATE FUND ID: 805-4473314749
YEAR ORGANIZED: 2014
ORIGINAL FORM D: December 9, 2014
LATEST IDENTIFIED FORM D/A: September 18, 2026
EXEMPTION: Regulation D Rule 506(b)
LATEST REPORTED AMOUNT SOLD: $144,626,137
LATEST REPORTED INVESTORS: 93
SALES COMMISSIONS: $0 reported
FINDER FEES: $0 reported
INVESTMENT MANAGER: PlusTick Management LLC
FORM D SIGNER: Adrian Keevil
CURRENT FUND ADDRESS: 200 6th Street NE Charlottesville, Virginia 22902
CONTACT: [[email protected]](mailto:[email protected])
PlusTick Management LLC
SEC REGISTRATION: Registered Investment Adviser
SEC NUMBER: 801-114385
SEC REGISTRATION EFFECTIVE: December 6, 2018
FORMER STATUS: SEC / Virginia Exempt Reporting Adviser status withdrawn November 5, 2018
PRINCIPAL OFFICE: 200 6th Street NE Charlottesville, Virginia 22902
2026 REPORTED REGULATORY AUM: Approximately $280.8 million
2026 REPORTED PRIVATE FUND GROSS ASSET VALUE: Approximately $250.2 million
REPORTED ADVISORY ACCOUNTS: 3
REPORTED EMPLOYEES: 4
ADVISORY ACTIVITIES: Portfolio management for pooled investment vehicles
COMPENSATION: Asset-based fees Performance-based fees
KEY PEOPLE IDENTIFIED IN PUBLIC / REGULATORY SOURCES:
Thomas Johns Hill Managing Partner
Adrian Ambrose Clement Keevil Partner
Mary Boyce Diehl Chief Compliance Officer
Additional publicly identified employee: Matt Hill
FIRM FOUNDED: 2012 according to public company profile
INVESTMENT STYLE: Opportunistic Event-driven Concentrated Absolute-return oriented
PERMITTED / PUBLICLY DESCRIBED ASSET AREAS: Equity Credit High Yield Distressed / dislocated situations Operational or financial inflection points
INVESTMENT THEMES: Overlooked assets Misunderstood businesses Industries undergoing significant change Maximum-pessimism situations Financial distress Operational distress Catalyst / inflection-point opportunities
FUND STRUCTURE:
PLUSTICK PARTNERS (QP), LP Master / principal private fund
PLUSTICK OFFSHORE FUND, LTD. Identified in Form ADV as feeder fund
GENERAL PARTNER: PlusTick Partners (GP) LLC
INVESTMENT MANAGER: PlusTick Management LLC
REGULATORY PENETRATION:
Official website — CONFIRMED SEC Form D history — CONFIRMED 2014 initial Form D — CONFIRMED 2026 Form D/A — CONFIRMED More than decade of filing history — CONFIRMED General Partner — CONFIRMED Investment Manager — CONFIRMED SEC Registered Investment Adviser — CONFIRMED CRD / SEC adviser numbers — CONFIRMED Private Fund ID — CONFIRMED Master-feeder structure — CONFIRMED Current Charlottesville address — CONFIRMED Investment strategy — PUBLICLY DISCLOSED Regulatory AUM — CONFIRMED THROUGH ADVISER DATA Current reported Form D investors — 93 Latest cumulative reported sales — $144.626M
IMPORTANT DATA DISTINCTION:
$144.626M = Cumulative amount reported sold in the PlusTick Partners (QP), LP Form D offering as of September 18, 2026.
Approximately $280.8M = Adviser-level regulatory assets under management reported for PlusTick Management.
Approximately $250.2M = Private-fund gross asset value reported in adviser data.
These figures measure different things and should not be presented interchangeably.
CORE DILIGENCE QUESTIONS:
What is current NAV of PlusTick Partners (QP), LP What portion of the $144.6M cumulative subscriptions remains invested What have annual net returns been since inception What is cumulative net return What is the worst calendar year What is maximum drawdown How long did historical drawdowns take to recover What percentage of NAV is held in the largest five positions What is the current equity / credit / high-yield split What percentage is distressed What leverage is permitted What are gross and net exposures Are derivatives used How are illiquid securities valued Who independently reviews valuation Who is the current administrator Who is the current auditor Who serves as prime broker/custodian What are management fees What is the performance allocation Is there a high-water mark Is there a hurdle rate What fund expenses are passed to LPs What is the lockup What redemption frequency applies What notice period is required Are gates permitted Can side pockets be created How does the Offshore Fund feed into the master fund Are domestic and offshore net returns identical after expenses What percentage of the portfolio can be held in private or restricted securities How are conflicts involving the GP and manager handled
CORE RISKS:
Concentrated portfolio Security-selection risk Event/catalyst failure Distressed-company risk Credit default risk High-yield volatility Equity drawdowns Illiquid securities Valuation subjectivity Leverage risk Redemption restrictions Side-pocket / gate risk Manager discretion Key-person concentration Performance-fee incentives Master-feeder complexity Tax and offshore-structure considerations Historical capital raised does not guarantee current NAV SEC adviser registration does not guarantee investment performance
INDEPENDENT CONCLUSION:
PlusTick Partners has one of the stronger independently verifiable regulatory profiles among the private funds reviewed by FilingDossier.
The evidence is unusually layered:
A private partnership founded in 2014. More than a decade of recurring Form D amendments. A separately identifiable general partner. A separately identifiable investment manager. An SEC-registered investment adviser. A current Form ADV. A disclosed master-feeder structure. An established Charlottesville office. An active official domain. Named investment professionals. A defined event-driven strategy. Approximately $280.8 million of adviser-level regulatory AUM. And a September 18, 2026 Form D/A reporting $144,626,137 sold to 93 investors.
Those facts materially reduce questions about basic institutional identity.
They do not answer the more important investment question:
How has the strategy actually performed after fees and through adverse market cycles
For PlusTick, serious diligence should therefore focus less on verifying whether the organization exists and more on portfolio quality, concentration, historical drawdowns, valuation, leverage, liquidity, fee economics and audited net performance.
The regulatory distinction must remain clear:
PlusTick Management LLC is an SEC-registered investment adviser.
PLUSTICK PARTNERS (QP), LP is a privately offered pooled investment fund.
Neither the adviser's SEC registration nor the fund's Form D constitutes SEC approval, endorsement of the strategy, verification of performance, or a guarantee against loss.
PRIMARY EVIDENCE REVIEWED:
U.S. SEC EDGAR PLUSTICK PARTNERS (QP), LP Original Form D CIK 0001627234 December 9, 2014
U.S. SEC / Form D PLUSTICK PARTNERS (QP), LP Form D/A September 18, 2026 Reported Amount Sold: $144,626,137 Reported Investors: 93
SEC Investment Adviser Public Disclosure PlusTick Management LLC CRD 173707 SEC 801-114385
PlusTick Management LLC Form ADV Private Fund Reporting Schedule PLUSTICK PARTNERS (QP), LP Private Fund ID 805-4473314749
PlusTick official website plustickpartners.com
PlusTick public company profile Investment strategy and personnel descriptions