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RIA / WealthRegistered adviserasset managerSEC registeredRAUM 100m 1b

AFC MANAGEMENT, LLC

CRD 311281

WEST PALM BEACH, FL

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:18dee79a-4b19-035d-0448-89681a4322b9

Data as of Mar 31, 2026 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 5:29 AM UTC and rebuilt at most every 15 minutes.

Relationships: 13
Dated events: 8
On other graphs: 1
Observed: Mar 31, 2021 to Mar 31, 2026
11 observations

Across DFX

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

Real Estate Fundsidentity

AFC Management, LLC

Real estate fund manager · shared crd

Private Creditcandidate

AFC MANAGEMENT, LLC

Credit provider · name unique adv

Facts

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

Firm class: asset managerderivedprivate_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0
Regulatory AUM: $276MItem 5.F on the latest filing (2026-03-31); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $276M
Private client RAUM: $0derivedItem 5.D individuals plus high net worth individuals
Private client share: 0%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 0
Employees: 32
Advisory employees: 11
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 1
Custody, client assets: $38.6M
SEC number: 801-121055
CRD: 311281
Filings on the tape: 11
First filed: Mar 31, 2021
Latest filed: Mar 31, 2026
Organised: Limited Liability Company, DE
Website: advancedflowercapital.com

Private funds

Schedule D 7.B(1); gross asset value as reported, never fund size; reporting ends 2024-12-31

Fund	Type	Reported GAV	As of	Owners	First reported	Status	Form D file
AFC GAMMA INC	Real Estate Fund	$76.8M	Oct 9, 2020	25	Oct 9, 2020	dropped	021-374262
AFC WAREHOUSE HOLDING, LLC	Other Private Fund	$613,671	Mar 29, 2024	25	Oct 9, 2020	reported	021-374270

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
CASTLEGROUND HOLDINGS, LLC	Owner	E	yes	01/2020	Mar 30, 2023	Mar 29, 2024
FRIEDMAN, ROBYN, ELYSA	President	Na	yes	08/2020	Mar 31, 2021	Mar 29, 2024
Hetzel, Brandon	CHIEF FINANCIAL OFFICER & TREASURER	Na	yes	04/2023	Apr 26, 2023	Mar 29, 2024
KATZ, GABRIEL, AARON	CHIEF LEGAL OFFICER, CHIEF COMPLIANCE OFFICER AND SECRETARY	Na	yes	01/2021	Mar 31, 2021	Mar 29, 2024
TANNENBAUM, LEONARD, MARK	Owner	E	yes	01/2020	Mar 31, 2021	Mar 29, 2024
TANNENBAUM, LEONARD, MARK	MANAGER AND CHIEF EXECUTIVE OFFICER	Na	yes	08/2020	Mar 31, 2021	Mar 29, 2024
NEVILLE, DANIEL, J	AUTHORIZED SIGNATORY	Na	no	11/2023	Mar 29, 2024	Mar 29, 2024

Affiliates (Item 7.A)

as filed on Item 7.A; a related person with a CRD on the graph links to its own page

Related person	Type	Class on the graph	Its RAUM	Control	Common control	State
SRT GROUP LLC	n/a	Asset manager	$206M	N	yes	n/a
AFC INSTITUTIONAL FUND HOLDINGS LLC	n/a	n/a	n/a	N	yes	n/a
AFC INSTITUTIONAL FUND MANAGER LLC	n/a	n/a	n/a	N	yes	n/a

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line; showing 5 of 7

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Mar 31, 2026	$276M	$276M	32	11	0	n/a	n/a
2024	Mar 28, 2025	$402M	$402M	6	6	0	n/a	n/a
2023	Mar 29, 2024	$467M	$467M	20	8	0	1	$613,671
2022	Mar 30, 2023	$533M	$533M	20	10	2	1	$13.3M
2021	Mar 31, 2022	$496M	$496M	25	10	2	1	$30.0M

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2025	$276M	$402M	-31.4%	$533M	-19.7%	32	6	0	0

Relationships

Affiliated with (4)

← SRT GROUP LLCRegistered adviserother investment adviser, common control
factForm ADV
→ SRT GROUP LLCRegistered adviserother investment adviser, common control
factForm ADV
← SUNRISE MANAGER LLCRegistered adviserother investment adviser, common control
factForm ADV
← AFC ADVISOR LLCRegistered adviserother investment adviser, pooled vehicle sponsor, common control
factForm ADV

Advises (2)

→ AFC WAREHOUSE HOLDING, LLCPrivate fundOther Private Fund, IA
Oct 9, 2020 to presentfactForm ADV
→ AFC GAMMA INCPrivate fundReal Estate Fund, ERA, no longer reported
Oct 9, 2020 to Oct 9, 2020factForm ADV

Controls (5)

← TANNENBAUM, LEONARD, MARKOwnerOWNER, ownership code E, individual
Mar 31, 2021 to Mar 29, 2024factForm ADV
← FRIEDMAN, ROBYN, ELYSAOwnerPRESIDENT, ownership code NA, individual
Mar 31, 2021 to Mar 29, 2024factForm ADV
← KATZ, GABRIEL, AARONOwnerCHIEF LEGAL OFFICER, CHIEF COMPLIANCE OFFICER AND SECRETARY, ownership code NA, individual
Mar 31, 2021 to Mar 29, 2024factForm ADV
← Hetzel, BrandonOwnerCHIEF FINANCIAL OFFICER & TREASURER, ownership code NA, individual
Apr 26, 2023 to Mar 29, 2024factForm ADV
← CASTLEGROUND HOLDINGS, LLCOwnerOWNER, ownership code E, domestic entity
Mar 30, 2023 to Mar 29, 2024factForm ADV

Owns (1)

← NEVILLE, DANIEL, JOwnerAUTHORIZED SIGNATORY, ownership code NA, individual
Mar 29, 2024 to Mar 29, 2024factForm ADV

Dated events

Occurred
Mar 31, 2026
Regulatory AUM changed
Afc Management, Llc reported RAUM $275.8M, down 31% from $402.1M (2026-01-28 to 2026-03-31)
Form ADVobserved 6 days ago
$-126M
Occurred
Oct 12, 2023
Control person left
Gilbert Jonathan Kalikow (Head Of Real Estate) no longer on Schedule A of Afc Management, Llc (listed 2023-04-26, absent 2023-10-12)
Form ADVobserved 6 days ago
Occurred
Apr 26, 2023
Control person left
Heath Brett Kaufman (Chief Financial Officer & Treasurer) no longer on Schedule A of Afc Management, Llc (listed 2023-03-30, absent 2023-04-26)
Form ADVobserved 6 days ago
Occurred
Apr 26, 2023
Control person joined
Brandon Hetzel (Chief Financial Officer & Treasurer) appeared on Schedule A of Afc Management, Llc
Form ADVobserved 6 days ago
Occurred
Mar 31, 2022
Regulatory AUM changed
Afc Management, Llc reported RAUM $495.7M, up 361% from $107.5M (2022-02-03 to 2022-03-31)
Form ADVobserved 6 days ago
$388M
Occurred
Feb 3, 2022
Control person joined
Heath Brett Kaufman (Chief Financial Officer & Treasurer) appeared on Schedule A of Afc Management, Llc
Form ADVobserved 6 days ago
Occurred
Feb 3, 2022
Control person left
Napoleon Thomas Geoffroy (Chief Financial Officer) no longer on Schedule A of Afc Management, Llc (listed 2021-03-31, absent 2022-02-03)
Form ADVobserved 6 days ago
Occurred
Mar 31, 2021
First Form ADV filing
Afc Management Llc filed its initial SEC registration (Form ADV)
Form ADVobserved 6 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:18dee79a-4b19-035d-0448-89681a4322b9
First observed: Mar 31, 2021
Last observed: Mar 31, 2026 5 months ago
Source families: Federal regulator filings
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.

AFC MANAGEMENT, LLC

CRD 311281

WEST PALM BEACH, FL

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:18dee79a-4b19-035d-0448-89681a4322b9

Data as of Mar 31, 2026 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 5:29 AM UTC and rebuilt at most every 15 minutes.

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

AFC GAMMA INC

Real Estate Fund

$76.8M

Oct 9, 2020

dropped

021-374262

AFC WAREHOUSE HOLDING, LLC

Other Private Fund

$613,671

Mar 29, 2024

Oct 9, 2020

reported

021-374270

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

CASTLEGROUND HOLDINGS, LLC

Owner

yes

01/2020

Mar 30, 2023

Mar 29, 2024

FRIEDMAN, ROBYN, ELYSA

President

yes

08/2020

Mar 31, 2021

Mar 29, 2024

Hetzel, Brandon

CHIEF FINANCIAL OFFICER & TREASURER

yes

04/2023

Apr 26, 2023

Mar 29, 2024

KATZ, GABRIEL, AARON

CHIEF LEGAL OFFICER, CHIEF COMPLIANCE OFFICER AND SECRETARY

yes

01/2021

Mar 31, 2021

Mar 29, 2024

TANNENBAUM, LEONARD, MARK

Owner

yes

01/2020

Mar 31, 2021

Mar 29, 2024

TANNENBAUM, LEONARD, MARK

MANAGER AND CHIEF EXECUTIVE OFFICER

yes

08/2020

Mar 31, 2021

Mar 29, 2024

NEVILLE, DANIEL, J

AUTHORIZED SIGNATORY

11/2023

Mar 29, 2024

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

SRT GROUP LLC

n/a

Asset manager

$206M

yes

n/a

AFC INSTITUTIONAL FUND HOLDINGS LLC

n/a

yes

n/a

AFC INSTITUTIONAL FUND MANAGER LLC

n/a

yes

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Mar 31, 2026

$276M

n/a

2024

Mar 28, 2025

$402M

n/a

2023

Mar 29, 2024

$467M

$613,671

2022

Mar 30, 2023

$533M

$13.3M

2021

Mar 31, 2022

$496M

$30.0M

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$276M

$402M

-31.4%

$533M

-19.7%