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Thrivent Investment Capital Advisors, LLC

● SEC registered since 2025CRD 338378SEC# 801-134357Minneapolis, MN
Export (members)
Ranks #512 of 6,004 private fund managers by regulatory AUM.
Reg. AUM
$22.78B
Fund GAV
$20.85B
Private funds
36
Employees
66
Accounts
47
Location
Minneapolis, MN

Thrivent Investment Capital Advisors, LLC assets under management

Thrivent Investment Capital Advisors, LLC operates as an SEC-registered investment adviser based in Minneapolis, MN. The firm has been registered since 2025. It reports $22.8 billion in regulatory assets under management and employs 66 people. Thrivent Investment Capital Advisors, LLC manages 36 private funds with combined gross assets of $20.9 billion, including Thrivent White Rose Fund XVI Fund of Funds LP. By regulatory assets, it ranks 512 of 6,004 private fund managers.

Thrivent Investment Capital Advisors, LLC private funds

36 funds · $20.85B GAV
FundTypeGross assetsMin.
Thrivent White Rose Fund XVI Fund of Funds LPPrivate Equity$2B$100K
Thrivent White Rose Fund XV Fund of Funds LPPrivate Equity$1.49B$100K
Thrivent White Rose Fund XIV Fund of Funds, L.P.Private Equity$1.43B$50K
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Thrivent Investment Capital Advisors, LLC owners & executives

8 reported
NameTitleOwnershipSince
Andrew Dylan Norgard ControlTreasurerUnder 5%2026
David Scott Royal ControlElected ManagerUnder 5%2026
Gregory Richard Anderson ControlElected Manager And PresidentUnder 5%2025
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Frequently asked questions

How much does Thrivent Investment Capital Advisors, LLC manage?

Thrivent Investment Capital Advisors, LLC reports $22.8 billion in regulatory assets under management on its Form ADV.

How many private funds does Thrivent Investment Capital Advisors, LLC manage?

Thrivent Investment Capital Advisors, LLC manages 36 private funds with combined gross assets of $20.9 billion.

How many employees does Thrivent Investment Capital Advisors, LLC have?

Thrivent Investment Capital Advisors, LLC reports 66 employees.

Where is Thrivent Investment Capital Advisors, LLC located?

Thrivent Investment Capital Advisors, LLC is based in Minneapolis, MN and has been SEC-registered since 2025.

Does Thrivent Investment Capital Advisors, LLC disclose fund performance?

Thrivent Investment Capital Advisors, LLC is not required to publicly disclose fund returns. Form ADV filings include assets, ownership, and service providers, shown above.

Contact & registration

Address901 Marquette Avenue, Suite 2500, Minneapolis, MN 55402-3211
Phone800-847-4836
Fax612-844-4307
Office hours8a.m.-5p.m.
SEC regionChicago Regional Office (CHRO)
CIK2103963
Discloses disciplinary historyNo

Regulatory AUM

$22.78B▲ 46%
Sep '25 — $15.58BOct '25 — $15.58BNov '25 — $15.58BDec '25 — $15.58BJan '26 — $15.58BFeb '26 — $15.58BMar '26 — $22.78BApr '26 — $22.78BMay '26 — $22.78BJun '26 — $22.78B
Sep '25Form ADV, monthlyJun '26

How this firm compares

Regulatory AUMTop 5%
Larger than 95% of 16,271 advisers
AUM vs fund managersTop 9%
Larger than 91% of 6,004 private-fund managers
Number of fundsTop 6%
More funds than 94% of fund managers
EmployeesTop 10%
More than 90% of 16,825 advisers

Assets under management

$22.78Bregulatory AUM
Discretionary $22.78B

Service providers