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RIA / WealthRegistered adviserformer SEC advisernot on rosterRAUM 1b 10b

FSIC III ADVISOR, LLC

CRD 169892

PHILADELPHIA, PA

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:6935fc8e-4997-67a2-1274-159bb08a3a09

Data as of Mar 22, 2018 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 6:50 AM UTC and rebuilt at most every 15 minutes.

Relationships: 31
Dated events: 1
On other graphs: 0
Observed: Dec 24, 2013 to Mar 22, 2018
11 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

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

Firm class: former SEC adviserderivedabsent from the latest SEC roster
Regulatory AUM: $3.8BItem 5.F on the latest filing (2018-03-22); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $3.8B
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: 171
Advisory employees: 10
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 1
SEC number: 801-79024
CRD: 169892
Filings on the tape: 11
First filed: Dec 24, 2013
Latest filed: Mar 22, 2018
Organised: Limited Liability Company, Delaware

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
ADELMAN, DAVID, J	MANAGING MEMBER OF THE GENERAL PARTNER	C	yes	03/2007	Dec 24, 2013	Mar 22, 2018
ADELMAN, DAVID, J	Member	D	yes	05/2007	Dec 24, 2013	Mar 22, 2018
ADELMAN, DAVID, J	Principal	Na	yes	10/2013	Dec 24, 2013	Mar 22, 2018
BROWNE, PHILIP	CHIEF FINANCIAL OFFICER	Na	yes	01/2014	Mar 22, 2018	Mar 22, 2018
DARCO CAPITAL, L.P.	MEMBER; CLASS A	Na	yes	10/2013	Mar 31, 2014	Mar 22, 2018
FORMAN, MICHAEL, CRAIG	MANAGING MEMBER	D	yes	05/2007	Dec 24, 2013	Mar 22, 2018
FORMAN, MICHAEL, CRAIG	CHIEF EXECUTIVE OFFICER	Na	yes	10/2013	Dec 24, 2013	Mar 22, 2018
FRANKLIN SQUARE HOLDINGS, L.P.	MEMBER, CLASS C	E	yes	10/2013	Dec 24, 2013	Mar 22, 2018
FRANKLIN SQUARE HOLDINGS, L.P., LLC	GENERAL PARTNER	F	yes	05/2007	Dec 24, 2013	Mar 22, 2018
SYPHERD, STEPHEN	CHIEF LEGAL OFFICER	Na	yes	01/2014	Mar 22, 2018	Mar 22, 2018
THE 2011 FORMAN INVESTMENT TRUST	MEMBER, CLASS A	B	yes	10/2013	Dec 24, 2013	Mar 22, 2018
DETWILER, ELIZABETH, C	SVP, CCO	Na	no	05/2015	May 22, 2015	Mar 22, 2018
HELLER, MICHAEL, JAY	Trustee	F	no	01/2012	Dec 24, 2013	Mar 22, 2018

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
FS/KKR ADVISOR, LLC	n/a	Asset manager	$16B	N	yes	n/a
FSIC II ADVISOR, LLC	n/a	Former SEC adviser	$5.1B	N	yes	n/a
FS INVESTMENT ADVISOR, LLC	n/a	Former SEC adviser	$4.3B	N	yes	n/a
FB INCOME ADVISOR, LLC	n/a	Former SEC adviser	$4.1B	N	yes	n/a
FS GLOBAL ADVISOR, LLC	n/a	Asset manager	$3.0B	N	yes	n/a
FS/EIG ADVISOR, LLC	n/a	Asset manager	$1.9B	N	yes	n/a
FS FUND ADVISOR, LLC	n/a	Asset manager	$1.6B	N	yes	n/a
FS CREDIT INCOME ADVISOR, LLC	n/a	Asset manager	$726M	N	yes	n/a
FSIC IV ADVISOR, LLC	n/a	Former SEC adviser	$376M	N	yes	n/a
FS ENERGY ADVISOR, LLC	n/a	Former SEC adviser	$46.0M	N	yes	n/a
FRANKLIN SQUARE HOLDINGS, L.P.	n/a	n/a	n/a	Y	yes	n/a
FS INVESTMENT SOLUTIONS, 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

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2017	Mar 22, 2018	$3.8B	$3.8B	171	10	0	n/a	n/a
2016	Mar 30, 2017	$3.7B	$3.7B	143	10	n/a	n/a	n/a
2015	Mar 30, 2016	$3.1B	$3.1B	156	15	n/a	n/a	n/a
2014	Mar 30, 2015	$1.0B	$1.0B	127	37	n/a	n/a	n/a
2013	Mar 31, 2014	$0	$0	89	26	n/a	n/a	n/a

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
2017	$3.8B	$3.7B	5.0%	$1.0B	55.5%	171	143	0	n/a

Relationships

Affiliated with (18)

→ FB INCOME ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FS INVESTMENT ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FSIC II ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FS GLOBAL ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FSIC IV ADVISOR, LLCRegistered adviserother investment adviser, common control
factForm ADV
→ FS ENERGY ADVISOR, LLCRegistered adviserother investment adviser, common control
factForm ADV
→ FS FUND ADVISOR, LLCRegistered adviserother investment adviser, common control
factForm ADV
→ FS CREDIT INCOME ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FS/KKR ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FS SPECIALTY LENDING ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
← FB INCOME ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
← FS INVESTMENT ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
← FSIC II ADVISOR, LLCRegistered adviserother investment adviser, common control
factForm ADV
← FSIC IV ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
← FS REIT ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
← FS ONEEQUITY MANAGER GP, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
← FS ONEEQUITY SLP, LPRegistered adviserother investment adviser, bank, common control
factForm ADV
← FSEP II ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV

Owns (2)

← DETWILER, ELIZABETH, COwnerSVP, CCO, ownership code NA, individual
May 22, 2015 to presentfactForm ADV
← HELLER, MICHAEL, JAYOwnerTRUSTEE, ownership code F, individual
Dec 24, 2013 to presentfactForm ADV

Controls (7)

← FORMAN, MICHAEL, CRAIGOwnerMANAGING MEMBER, ownership code D, individual
Dec 24, 2013 to presentfactForm ADV
← ADELMAN, DAVID, JOwnerMANAGING MEMBER OF THE GENERAL PARTNER, ownership code C, individual
Dec 24, 2013 to presentfactForm ADV
← BROWNE, PHILIPOwnerCHIEF FINANCIAL OFFICER, ownership code NA, individual
Mar 22, 2018 to presentfactForm ADV
← SYPHERD, STEPHENOwnerCHIEF LEGAL OFFICER, ownership code NA, individual
Mar 22, 2018 to presentfactForm ADV
← DARCO CAPITAL, L.P.OwnerMEMBER; CLASS A, ownership code NA, domestic entity
Mar 31, 2014 to presentfactForm ADV
← FRANKLIN SQUARE HOLDINGS, L.P.OwnerMEMBER, CLASS C, ownership code E, domestic entity
Dec 24, 2013 to presentfactForm ADV
← THE 2011 FORMAN INVESTMENT TRUSTOwnerMEMBER, CLASS A, ownership code B, domestic entity
Dec 24, 2013 to presentfactForm ADV

Dated events

Occurred
Dec 24, 2013
First Form ADV filing
Fsic Iii Advisor, Llc filed its initial SEC registration (Form ADV)
Form ADVobserved 5 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:6935fc8e-4997-67a2-1274-159bb08a3a09
First observed: Dec 24, 2013
Last observed: Mar 22, 2018 103 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.

FSIC III ADVISOR, LLC

CRD 169892

PHILADELPHIA, PA

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:6935fc8e-4997-67a2-1274-159bb08a3a09

Data as of Mar 22, 2018 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 6:50 AM UTC and rebuilt at most every 15 minutes.

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

ADELMAN, DAVID, J

MANAGING MEMBER OF THE GENERAL PARTNER

yes

03/2007

Dec 24, 2013

Mar 22, 2018

ADELMAN, DAVID, J

Member

yes

05/2007

Dec 24, 2013

Mar 22, 2018

ADELMAN, DAVID, J

Principal

yes

10/2013

Dec 24, 2013

Mar 22, 2018

BROWNE, PHILIP

CHIEF FINANCIAL OFFICER

yes

01/2014

Mar 22, 2018

DARCO CAPITAL, L.P.

MEMBER; CLASS A

yes

10/2013

Mar 31, 2014

Mar 22, 2018

FORMAN, MICHAEL, CRAIG

MANAGING MEMBER

yes

05/2007

Dec 24, 2013

Mar 22, 2018

FORMAN, MICHAEL, CRAIG

CHIEF EXECUTIVE OFFICER

yes

10/2013

Dec 24, 2013

Mar 22, 2018

FRANKLIN SQUARE HOLDINGS, L.P.

MEMBER, CLASS C

yes

10/2013

Dec 24, 2013

Mar 22, 2018

FRANKLIN SQUARE HOLDINGS, L.P., LLC

GENERAL PARTNER

yes

05/2007

Dec 24, 2013

Mar 22, 2018

SYPHERD, STEPHEN

CHIEF LEGAL OFFICER

yes

01/2014

Mar 22, 2018

THE 2011 FORMAN INVESTMENT TRUST

MEMBER, CLASS A

yes

10/2013

Dec 24, 2013

Mar 22, 2018

DETWILER, ELIZABETH, C

SVP, CCO

05/2015

May 22, 2015

Mar 22, 2018

HELLER, MICHAEL, JAY

Trustee

01/2012

Dec 24, 2013

Mar 22, 2018

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

FS/KKR ADVISOR, LLC

n/a

Asset manager

$16B

yes

n/a

FSIC II ADVISOR, LLC

n/a

Former SEC adviser

$5.1B

yes

n/a

FS INVESTMENT ADVISOR, LLC

n/a

Former SEC adviser

$4.3B

yes

n/a

FB INCOME ADVISOR, LLC

n/a

Former SEC adviser

$4.1B

yes

n/a

FS GLOBAL ADVISOR, LLC

n/a

Asset manager

$3.0B

yes

n/a

FS/EIG ADVISOR, LLC

n/a

Asset manager

$1.9B

yes

n/a

FS FUND ADVISOR, LLC

n/a

Asset manager

$1.6B

yes

n/a

FS CREDIT INCOME ADVISOR, LLC

n/a

Asset manager

$726M

yes

n/a

FSIC IV ADVISOR, LLC

n/a

Former SEC adviser

$376M

yes

n/a

FS ENERGY ADVISOR, LLC

n/a

Former SEC adviser

$46.0M

yes

n/a

FRANKLIN SQUARE HOLDINGS, L.P.

n/a

yes

n/a

FS INVESTMENT SOLUTIONS, LLC

n/a

yes

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2017

Mar 22, 2018

$3.8B

171

n/a

2016

Mar 30, 2017

$3.7B

143

n/a

2015

Mar 30, 2016

$3.1B

156

n/a

2014

Mar 30, 2015

$1.0B

127

n/a

2013

Mar 31, 2014

n/a

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2017

$3.8B

$3.7B

5.0%

$1.0B

55.5%

171

143

n/a