# CARMEL MANAGEMENT III, LLC

CARMEL MANAGEMENT III, LLC of SAN FRANCISCO, CA is an SEC-registered investment adviser.

## Registration

- CRD: 160892
- Type: SEC-registered investment adviser
- SEC file number: 801-74214
- Location: 1000 SANSOME STREET, FIRST FLOOR, SAN FRANCISCO, CA, 94111
- Phone: 415-273-2900
- Latest filing: 2026-03-31
- Regulatory AUM: $8.0B
- Discretionary AUM: $8.0B
- Clients: 164
- Accounts: 8

## Business model

- Compensation: % of AUM, Performance
- Clients served: Investment cos

## Officers, owners & control persons (25)

| Name | Role | Location |
| --- | --- | --- |
| [DONALD P CAMPBELL](https://search.stillhousedata.com/person/119171) | SENIOR MANAGING PARTNER & CHIEF OPERATING OFFICER | PLYMOUTH MEETING, PA |
| [Ron David Zeff](https://search.stillhousedata.com/person/207922) | EXECUTIVE COMMITTEE CHAIR, MANAGING MEMBER & CHIEF EXECUTIVE OFFICER; MANAGER | San Francisco, CA |
| [Matthew Todd Golden](https://search.stillhousedata.com/person/207924) | EXECUTIVE  COMMITTEE MEMBER, GENERAL COUNSEL, MANAGING PARTNER & CHIEF COMPLIANCE OFFICER | San Francisco, CA |
| [Michael Gregg Halper](https://search.stillhousedata.com/person/715004) | VICE CHAIR OF EXECUTIVE COMMITTEE | — |
| [Elizabeth Tennican](https://search.stillhousedata.com/person/715005) | EXECUTIVE COMMITTEE SECRETARY, MANAGING PARTNER & HEAD OF INVESTOR RELATIONS | — |
| [Phillip Marshall Owens](https://search.stillhousedata.com/person/715006) | EXECUTIVE COMMITTEE MEMBER, MANAGING PARTNER & CHIEF FINANCIAL OFFICER | — |
| [Bryan Carlisle Crane](https://search.stillhousedata.com/person/715007) | EXECUTIVE COMMITTEE MEMBER, MANAGING PARTNER & CHIEF INVESTMENT OFFICER | — |
| [WILLIAMS BRUCE JOHN](https://search.stillhousedata.com/person/736197) | MANAGING PARTNER, INVESTOR RELATIONS | — |
| [MCWHORTER DAVID ROBERT](https://search.stillhousedata.com/person/781262) | MANAGING PARTNER | — |
| [SANDS ANDREW ISAAC](https://search.stillhousedata.com/person/818603) | MANAGING PARTNER, CHIEF REAL ESTATE OFFICER; MANAGING PARTNER, HEAD OF ASSET MANAGEMENT & PORTFOLIO STRATEGY | — |
| [ZEFF RON DAVID](https://search.stillhousedata.com/person/820374) | EXECUTIVE COMMITTEE CHAIR, MANAGING MEMBER & CHIEF EXECUTIVE OFFICER; EXECUTIVE COMMITTEE CHAIR, MANAGING MEMBER, MANAGING PARTNER & CEO; MANAGER (+2 more) | — |
| [SMITH BRIAN JEFFERY](https://search.stillhousedata.com/person/820375) | CCO; CHIEF COMPLIANCE OFFICER | — |
| [BEDA CHRISTOPHER JOHN](https://search.stillhousedata.com/person/820376) | SENIOR MANAGING PARTNER & CHIEF INVESTMENT OFFICER | — |
| [MARKUS DENNIS WILLIAM](https://search.stillhousedata.com/person/820377) | EXECUTIVE COMMITTEE MEMBER, SENIOR MANAGING PARTNER; EXECUTIVE COMMITTEE MEMBER, SENIOR MANAGING PARTNER & CHIEF FINANCIAL OFFICER; MANAGING PARTNER AND CFO (+3 more) | — |
| [LAHORGUE MICHAEL AARON](https://search.stillhousedata.com/person/820378) | PRESIDENT; SENIOR MANAGING PARTNER & PRESIDENT | — |
| [BARTON QUINN RALPH](https://search.stillhousedata.com/person/823793) | MANAGING PARTNER | — |
| [CAMPBELL DONALD DOUGLAS](https://search.stillhousedata.com/person/823794) | SENIOR MANAGING PARTNER; SENIOR MANAGING PARTNER & CHIEF OPERATING OFFICER | — |
| [SHUMAN BRIAN HOWARD](https://search.stillhousedata.com/person/825999) | MANAGING PARTNER & CHIEF FINANCIAL OFFICER | — |
| [GOLDEN MATTHEW TODD](https://search.stillhousedata.com/person/830002) | EXECUTIVE  COMMITTEE MEMBER, GENERAL COUNSEL, MANAGING PARTNER & CHIEF COMPLIANCE OFFICER; EXECUTIVE  COMMITTEE MEMBER, GENERAL COUNSEL, PARTNER, CHIEF COMPLIANCE OFFICER; GENERAL COUNSEL, PARTNER (+1 more) | — |
| [BEDA CHIRS](https://search.stillhousedata.com/person/831171) | SENIOR MANAGING PARTNER & CHIEF INVESTMENT OFFICER | — |
| [GARIBALDI DANIEL GREGORY](https://search.stillhousedata.com/person/836792) | MANAGING PARTNER, DEVELOPMENT; MANAGING PARTNER, DEVELOPMENT & CONSTRUCTION | — |
| [CRANE BRYAN CARLISLE](https://search.stillhousedata.com/person/855924) | CHIEF INVESTMENT OFFICER; MANAGING PARTNER & CHIEF INVESTMENT OFFICER | — |
| [TENNICAN ELIZABETH](https://search.stillhousedata.com/person/870290) | EXECUTIVE COMMITTEE MEMBER, MANAGING PARTNER & HEAD OF INVESTOR RELATIONS; EXECUTIVE COMMITTEE MEMBER, MANAGING PARTNER, HEAD OF INVESTOR RELATIONS | — |
| [HALPER MICHAEL GREGG](https://search.stillhousedata.com/person/870291) | VICE CHAIR OF EXECUTIVE COMMITTEE | — |
| [OWENS PHILLIP MARSHALL](https://search.stillhousedata.com/person/875617) | MANAGING PARTNER & CHIEF FINANCIAL OFFICER | — |


## Private funds (8)

| Fund | Type | Formed | Owners | GAV | Min investment |
| --- | --- | --- | --- | --- | --- |
| CARMEL PARTNERS INVESTMENT FUND VIII, L.P. | Real Estate Fund | Delaware | 100 | $2.1B | $5.0M |
| CARMEL PARTNERS INVESTMENT FUND VII, LP | Real Estate Fund | Delaware | 111 | $1.6B | $5.0M |
| CARMEL PARTNERS INVESTMENT FUND VI, LP | Real Estate Fund | Delaware | 81 | $1.2B | $5.0M |
| CARMEL PARTNERS INVESTMENT FUND IX, L.P. | Real Estate Fund | Delaware | 56 | $1.1B | $5.0M |
| CARMEL PARTNERS INVESTMENT FUND V, LP | Real Estate Fund | Delaware | 166 | $1.1B | $5.0M |
| CP VIII WESTLAKE JV, LP | Real Estate Fund | Delaware | 15 | $495.0M | $5.0M |
| CP VIII CO-INVESTMENT JV, LP | Real Estate Fund | Delaware | 4 | $424.7M | $5.0M |
| CARMEL PARTNERS INVESTMENT FUND III, LP | Real Estate Fund | Delaware | 56 | — | $5.0M |


## Branch offices (10)

| City | State | Employees | Phone |
| --- | --- | --- | --- |
| SANTA MONICA | CA | 2 | 424-291-8604 |
| NEW YORK | NY | 2 | 212-355-0795 |
| SANTA MONICA | CA | 2 | 424-291-8604 |
| NEW YORK | NY | 2 | 212-355-0795 |
| SEATTLE | WA | 1 | 4152732900 |
| WASHINGTON | DC | 1 | 202-683-9295 |
| SEATTLE | WA | 1 | 4152732900 |
| DENVER | CO | 1 | 303-759-5123 |
| DENVER | CO | 1 | 303-759-5123 |
| WASHINGTON | DC | 1 | 202-683-9295 |


## Fund service providers (1)

- administrator: CBRE — 5 funds

## Related pages

- Form ADV Part 2 brochure: https://search.stillhousedata.com/firm/160892/brochure
- Similar advisers: https://search.stillhousedata.com/firm/160892/similar
- Related entities: https://search.stillhousedata.com/firm/160892/related
- SEC IAPD (source of record): https://adviserinfo.sec.gov/firm/summary/160892

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Source: public SEC Form ADV data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.