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Private equityFirmbuyoutlower middle market

Stillwater Asset Management, LLC

Private Equity

Stillwater, MN

This is the graph view. The full profile, with its team, deals and sources, is on Private Equity.Open the full profile →

Search this name across graphsid dfx:pe:c178d528-7f3b-48cc-8f89-cada3e055b27

Data as of Sep 16, 2026 (this record's last observation) from federal regulator filings, firm and issuer disclosures. Page built Sep 19, 2026, 4:16 PM UTC and rebuilt at most every 15 minutes.

Relationships: 21
Dated events: 6
On other graphs: 3
Observed: Sep 13, 2026 to Sep 16, 2026
27 observations

Across DFX

same identity by shared identifier, citation, or a bridge measured by hand

Venture Capitalidentity

Stillwater Asset Management, LLC

Venture manager · shared crd

Independent Sponsorsidentity

Stillwater Asset Management, LLC

Capital provider to sponsors · shared crd

RIA / Wealth Managementidentity

STILLWATER ASSET MANAGEMENT, LLC

Registered adviser · shared crd

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Funds: 3
PE funds: 3
Vintages: 2020 to 2021
PE GAV, 2024 filing: $519Mgross asset value on Form ADV; never dry powder
Regulatory AUM: $525M
Investments: 0
Active investments: 0
Size band: LOWER MIDDLE MARKETderivedproxy: $0.52bn Private Equity Fund GAV on the Form ADV filed 2024-07-10
Latest ADV filing: Jul 10, 2024
Employees (ADV): 8
Website: stillwaterasset.com

Funds

Fund	Vintage	Lifecycle	ADV type	Form D sold	GAV
Liftbridge Commercial Fund 2, LP	2021	Unknown	Private Equity Fund	n/a	$476M
Liftbridge Senior Living Holdings, LP	2020	Harvest	Private Equity Fund	n/a	$20.3M
Liftbridge Commercial Fund 1, LP	n/a	Harvest	Private Equity Fund	n/a	$22.6M

Relationships

Employs (16)

→ Laci SchwartzPersonCommercial Credit Specialist
factThe subject's own site
→ Jessica BerglundPersonInt Audit & Loan Operations Specialist
factThe subject's own site
→ Laurel CunninghamPersonAccounting Manager
factThe subject's own site
→ Lena Michelle MotzPersonSole Member
Nov 1, 2016 to presentfactForm ADV, The subject's own site
→ Amy HalversonPersonCfo
factThe subject's own site
→ Raemi GubrudPersonPresident, Willow River LLC
factThe subject's own site
→ Kurt MuellerPersonVice President
factThe subject's own site
→ Mary GonzagaPersonAssociate
factThe subject's own site
→ Madeline MotzPersonAssociate
factThe subject's own site
→ Ben HindererPersonAcct & Financial Reporting Manager
factThe subject's own site
→ Brooke BacklundPersonInvestor Relations Analyst
factThe subject's own site
→ Matt BentsonPersonVice President
factThe subject's own site
→ Kenzie HuberPersonVice President
factThe subject's own site
→ Kayley GehrelsPersonCommercial Loan Workout Analyst
factThe subject's own site
→ Nicholas Richard OlsonPersonChief Financial Officer/Chief Compliance Officer
Jan 1, 2024 to presentfactForm ADV
→ Richard Andrew BucklandPersonChief Compliance Officer And Chief Operating Officer
Apr 1, 2017 to Jul 10, 2024inferenceForm ADV

Manages (3)

→ Liftbridge Commercial Fund 1, LPFundPrivate Equity Fund
Jun 1, 2018 to presentfactForm ADV
→ Liftbridge Senior Living Holdings, LPFundPrivate Equity Fund
Mar 24, 2020 to presentfactForm ADV
→ Liftbridge Commercial Fund 2, LPFundPrivate Equity Fund
Mar 4, 2021 to presentfactForm ADV

Owns (1)

← M3&g Investments, LLCFirmMember
Mar 1, 2017 to presentfactForm ADV

Dated events

3 bookkeeping events (roster, classification and holdings changes) folded below

Occurred
Jul 10, 2024
Person left
Richard Andrew Buckland (Chief Compliance Officer And Chief Operating Officer) no longer on Schedule A of Stillwater Asset Management, LLC
Form ADVobserved 5 days ago
Occurred
Jan 1, 2024
Person joined
Nicholas Richard Olson joined Schedule A of Stillwater Asset Management, LLC as Chief Financial Officer
Form ADVobserved 5 days ago
Occurred
Jun 1, 2018
Adviser first adv filing
Stillwater Asset Management, LLC first filed Form ADV in the extract (ERA)
Form ADVobserved 5 days ago

Show 3 bookkeeping events

Occurred
Mar 4, 2021
Liftbridge Commercial Fund 2, LP first reported on Form ADV by Stillwater Asset Management, LLC (Private Equity Fund), GAV $159,935,520
Occurred
Mar 24, 2020
Liftbridge Senior Living Holdings, LP first reported on Form ADV by Stillwater Asset Management, LLC (Private Equity Fund), GAV $30,150,000
Occurred
Jun 1, 2018
Liftbridge Commercial Fund 1, LP first reported on Form ADV by Stillwater Asset Management, LLC (Private Equity Fund)

Who to call

the organisation, the role and the published line, with the filing or website that published it; revealed to signed-in accounts

The firm's published line

Revealable: 1 business phone (Form ADV), 1 office address (Form ADV), 1 website (Form ADV) · as of 2026-09-13

Also named here, with no published line of their own (reach them through the firm): Laci Schwartz (Commercial Credit Specialist), Jessica Berglund (Int Audit & Loan Operations Specialist), Laurel Cunningham (Accounting Manager), Lena Michelle Motz (Sole Member), Amy Halverson (CFO), Raemi Gubrud (President, Willow River LLC), Kurt Mueller (Vice President), Mary Gonzaga (Associate), Madeline Motz (Associate), Ben Hinderer (Acct & Financial Reporting Manager), Brooke Backlund (Investor Relations Analyst), Matt Bentson (Vice President).

Who to call is the organisation, the person's role and the line they published themselves: a business phone, office address, website or profile link from Form ADV, Form 13F or their own website, with that source named on every value. The counts above are what a reveal returns; a personal email is rarely published, so most reveals are the firm's line. Never data bought from a provider, never anything personal. Reveals by plan

Provenance

Graph: Private Equity
Canonical id: dfx:pe:c178d528-7f3b-48cc-8f89-cada3e055b27
First observed: Sep 13, 2026
Last observed: Sep 16, 2026 2 days ago
Source families: Federal regulator filings, Firm and issuer disclosures
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

Stillwater Asset Management, LLC

Private Equity

Stillwater, MN

This is the graph view. The full profile, with its team, deals and sources, is on Private Equity.Open the full profile →

Search this name across graphsid dfx:pe:c178d528-7f3b-48cc-8f89-cada3e055b27

Data as of Sep 16, 2026 (this record's last observation) from federal regulator filings, firm and issuer disclosures. Page built Sep 19, 2026, 4:16 PM UTC and rebuilt at most every 15 minutes.

Fund

Vintage

Lifecycle

ADV type

Form D sold

GAV

LPs

Liftbridge Commercial Fund 2, LP

2021

Unknown

Private Equity Fund

n/a

$476M

Liftbridge Senior Living Holdings, LP

2020

Harvest

Private Equity Fund

n/a

$20.3M

Liftbridge Commercial Fund 1, LP

n/a

Harvest

Private Equity Fund

n/a

$22.6M