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Data Factory

RIA / WealthRegistered adviserother adviserSEC registeredRAUM 10b 100b

PORTFOLIO ADVISORS LLC

CRD 105981

DARIEN, CT

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Search this name across graphsid dfx:ria:cdab1f0e-07ae-25e4-432f-cd620574ac26

Data as of Mar 27, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 12:38 AM UTC and rebuilt at most every 15 minutes.

Relationships: 161
Dated events: 24
On other graphs: 5
Observed: Mar 30, 2012 to Mar 27, 2026
22 observations

Across DFX

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

Private Equityidentity

Portfolio Advisors LLC

Private equity manager · cited, shared crd

Independent Sponsorsidentity

Portfolio Advisors LLC

Capital provider to sponsors · cited, shared crd

Allocatorsidentity

Portfolio Advisors LLC

Manager with allocator commitments · cited, shared crd

Private Creditidentity

PORTFOLIO ADVISORS LLC

Private credit manager · cited, shared crd

Real Estate Fundsidentity

Portfolio Advisors LLC

Real estate fund manager · cited, shared crd

Facts

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

Firm class: other adviserderivedprivate_client_share=0.0 fund_share=0.55 institutional_share=0.45 related_bd=true related_bank=true bd_reps=0.0
Regulatory AUM: $48BItem 5.F on the latest filing (2026-03-27); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $30B
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: 164
Advisory employees: 83
Offices: 8Schedule D 1.F, beyond the principal office
Accounts: 123
Private funds: 92Schedule D 7.B(1)
SEC number: 801-46369
CRD: 105981
Filings on the tape: 22
First filed: Mar 30, 2012
Latest filed: Mar 27, 2026
Organised: Limited Liability Company, CT
Website: futurestandard.com

Private funds

Schedule D 7.B(1); gross asset value as reported, never fund size; reporting ends 2024-12-31; showing 25 of 125

Fund	Type	Reported GAV	As of	Owners	First reported	Status	Form D file
PA-EP FUND, L.P.	Private Equity Fund	$5.4B	Mar 29, 2024	2	Mar 30, 2012	reported	n/a
PORTFOLIO ADVISORS SECONDARY FUND IV, LP	Private Equity Fund	$2.7B	Mar 29, 2024	398	Mar 30, 2020	reported	021-358020
PA DIRECT CREDIT OPPORTUNITIES FUND III, LP	Private Equity Fund	$1.1B	Mar 29, 2024	204	Mar 29, 2019	reported	021-330987
PORTFOLIO ADVISORS SECONDARY FUND III, L.P.	Private Equity Fund	$1.1B	Mar 29, 2024	296	Mar 30, 2016	reported	021-249665
PA BLUE FUND, L.P.	Private Equity Fund	$869M	Mar 29, 2024	2	Mar 30, 2016	reported	021-255401
PA PALACE FUND, LP	Private Equity Fund	$700M	Mar 29, 2024	2	Mar 30, 2020	reported	021-348288
PORTFOLIO ADVISORS PRIVATE EQUITY FUND IX (OFFSHORE), L.P.	Private Equity Fund	$624M	Mar 29, 2024	39	Mar 31, 2017	reported	021-270547
PORTFOLIO ADVISORS PRIVATE EQUITY FUND VIII (OFFSHORE), L.P.	Private Equity Fund	$526M	Mar 29, 2024	89	Mar 30, 2016	reported	021-193938
PORTFOLIO ADVISORS PRIVATE EQUITY FUND X, LP	Private Equity Fund	$496M	Mar 29, 2024	102	Mar 29, 2019	reported	021-316415
MVP PRIVATE MARKETS FUND, L.P.	Private Equity Fund	$452M	Mar 31, 2022	41	Mar 31, 2022	dropped	021-398847
PA CO-INVESTMENT FUND IV, LP	Private Equity Fund	$391M	Mar 29, 2024	38	Mar 30, 2020	reported	021-358014
PORTFOLIO ADVISORS PRIVATE EQUITY FUND 2022, L.P.	Private Equity Fund	$388M	Mar 29, 2024	698	Mar 31, 2023	reported	021-441527
PORTFOLIO ADVISORS PRIVATE EQUITY FUND XI, LP	Private Equity Fund	$365M	Mar 29, 2024	111	Mar 31, 2022	reported	021-394050
PA DIRECT CREDIT OPPORTUNITIES FUND II, L.P.	Private Equity Fund	$358M	Mar 29, 2024	252	Mar 30, 2015	reported	021-292880
PA DIRECT CREDIT OPPORTUNITIES FUND II (OFFSHORE), L.P.	Private Equity Fund	$298M	Mar 29, 2019	84	Mar 30, 2015	dropped	021-193933
PORTFOLIO ADVISORS REAL ESTATE FUND VII, L.P.	Real Estate Fund	$295M	Mar 29, 2024	13	Mar 29, 2019	reported	021-303739
PORTFOLIO ADVISORS REAL ESTATE FUND VIII, L.P.	Real Estate Fund	$291M	Mar 29, 2024	35	Mar 31, 2022	reported	021-390129
PORTFOLIO ADVISORS CREDIT STRATEGIES FUND, L.P.	Other Private Fund	$265M	Mar 29, 2024	103	Mar 28, 2013	reported	021-193933
PORTFOLIO ADVISORS PRIVATE EQUITY FUND VII (OFFSHORE), L.P.	Private Equity Fund	$257M	Mar 29, 2024	60	Mar 30, 2012	reported	021-163608
PORTFOLIO ADVISORS PRIVATE EQUITY FUND 2017, L.P	Private Equity Fund	$249M	Mar 29, 2024	266	Mar 30, 2018	reported	021-303733
PA CO-INVESTMENT FUND III, LP	Private Equity Fund	$235M	Mar 29, 2024	32	Mar 31, 2017	reported	021-292880
PORTFOLIO ADVISORS PRIVATE EQUITY FUND VII, L.P.	Private Equity Fund	$184M	Mar 29, 2024	99	Mar 30, 2012	reported	021-157829
PORTFOLIO ADVISORS PRIVATE EQUITY FUND VI (OFFSHORE), L.P.	Private Equity Fund	$178M	Mar 29, 2024	47	Mar 30, 2012	reported	021-127438
PORTFOLIO ADVISORS PRIVATE EQUITY FUND VIII, L.P.	Private Equity Fund	$174M	Mar 29, 2024	61	Mar 28, 2013	reported	021-193937
PA CO-INVESTMENT FUND V, LP	Private Equity Fund	$172M	Mar 29, 2024	8	Mar 31, 2023	reported	021-455946

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, JASON	Member	D	yes	05/2007	Jul 31, 2023	Mar 29, 2024
CAMPBELL, ELIZABETH, MERRITT	MEMBER OF MANAGEMENT COMMITTEE	Na	yes	01/2018	Mar 29, 2019	Mar 29, 2024
CLEMENS, ADAM, GERARD	MEMBER OF MANAGEMENT COMMITTEE	Na	yes	02/2010	Mar 30, 2012	Mar 29, 2024
DWYER, DANIEL, FRANCIS	CHIEF COMPLIANCE OFFICER	Na	yes	01/2014	Mar 28, 2013	Mar 29, 2024
EISENBERG, JESSE, SEVIN	GENERAL COUNSEL	Na	yes	01/2014	Mar 30, 2012	Mar 29, 2024
FB CAPITAL MANAGEMENT, LLC	GENERAL PARTNER	F	yes	01/2013	Jul 31, 2023	Mar 29, 2024
FB CAPITAL PARTNERS, L.P.	Member	C	yes	06/2023	Jul 31, 2023	Mar 29, 2024
FORMAN, MICHAEL, CRAIG	MANAGING MEMBER	D	yes	05/2007	Jul 31, 2023	Mar 29, 2024
FORMAN, MICHAEL, CRAIG	SOLE MEMBER	E	yes	02/2007	Jul 31, 2023	Mar 29, 2024
FORMAN, MICHAEL, CRAIG	LIMITED PARTNER	E	yes	08/2005	Jul 31, 2023	Mar 29, 2024
FRANKLIN SQUARE HOLDINGS GP, LLC	GENERAL PARTNER	F	yes	05/2007	Jul 31, 2023	Mar 29, 2024
FRANKLIN SQUARE HOLDINGS, L.P.	Member	E	yes	06/2023	Jul 31, 2023	Mar 29, 2024
FSH NCI AGGREGATOR, LLC	LIMITED PARTNER	C	yes	06/2023	Jul 31, 2023	Mar 29, 2024
HIGBEE, SCOTT, DAVID	MEMBER OF MANAGEMENT COMMITTEE	Na	yes	09/2020	Mar 31, 2021	Mar 29, 2024
LINDBERG, BROOKS, ANTHONY	MEMBER OF MANAGEMENT COMMITTEE	Na	yes	05/2020	Mar 31, 2021	Mar 29, 2024
SLOAN, STEPHEN, COULAM	MEMBER OF MANAGEMENT COMMITTEE	Na	yes	10/2020	Mar 31, 2021	Mar 29, 2024
THE 2011 FORMAN INVESTMENT TRUST	Member	C	yes	06/2023	Jul 31, 2023	Mar 29, 2024
HELLER, MICHAEL, JAY	Trustee	F	no	01/2012	Jul 31, 2023	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; showing 40 of 72

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
FS REAL ESTATE ADVISOR, LLC	n/a	Asset manager	$9.1B	N	yes	n/a
FS GLOBAL ADVISOR, LLC	n/a	Asset manager	$3.0B	N	yes	n/a
FS STRUCTURED PRODUCTS ADVISOR, LLC	n/a	Asset manager	$2.2B	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
CHIRON INVESTMENT MANAGEMENT, LLC	n/a	Former SEC adviser	$440M	N	yes	n/a
FS TACTICAL ADVISOR, LLC	n/a	Asset manager	$279M	N	yes	n/a
ASIA SELECT MANAGEMENT LIMITED	n/a	n/a	n/a	N	no	n/a
FS INVESTMENT SOLUTIONS, LLC	n/a	n/a	n/a	N	yes	n/a
LIBERTY RE GP, LLC	n/a	n/a	n/a	Y	no	n/a
PA BLUE GP, LLC	n/a	n/a	n/a	Y	no	n/a
PA GPS GP, LLC	n/a	n/a	n/a	N	yes	n/a
PA MAC GP, LLC	n/a	n/a	n/a	Y	no	n/a
PA MAC LUX GP, S.A R.L.	n/a	n/a	n/a	Y	yes	n/a
PA PALACE, GP, LLC	n/a	n/a	n/a	Y	no	n/a
PA PASF GP, LLC	n/a	n/a	n/a	Y	no	n/a
PA SAFFRON GP, LLC	n/a	n/a	n/a	Y	yes	n/a
PA VERITAS GP, LLC	n/a	n/a	n/a	Y	no	n/a
PA-EP GP, LLC	n/a	n/a	n/a	Y	no	n/a
PA-HAM GP, LLC	n/a	n/a	n/a	Y	no	n/a
PAAF IV GP, LLC	n/a	n/a	n/a	Y	no	n/a
PAAF V GP, LLC	n/a	n/a	n/a	Y	no	n/a
PAAF VI GP, LLC	n/a	n/a	n/a	Y	no	n/a
PAAF VII GP, LLC	n/a	n/a	n/a	Y	no	n/a
PACSF (GP), LLC	n/a	n/a	n/a	Y	no	n/a
PADCOF II (GP), LLC	n/a	n/a	n/a	Y	no	n/a
PADCOF III (GP), LLC	n/a	n/a	n/a	Y	no	n/a
PAF 6/05, LLC	n/a	n/a	n/a	Y	no	n/a
PAGIF GP, LLC	n/a	n/a	n/a	Y	no	n/a
PAILS GP, LLC	n/a	n/a	n/a	N	yes	n/a
PAPEF IX, (GP) LLC	n/a	n/a	n/a	Y	no	n/a
PAPEF V (GP), LLC	n/a	n/a	n/a	Y	no	n/a
PAPEF VI (GP), LLC	n/a	n/a	n/a	Y	no	n/a
PAPEF VII (GP), LLC	n/a	n/a	n/a	Y	no	n/a
PAPEF VIII (GP), LLC	n/a	n/a	n/a	Y	no	n/a
PAPEF X, (GP) LLC	n/a	n/a	n/a	Y	no	n/a
PAPEF XI GP, LLC	n/a	n/a	n/a	N	yes	n/a
PAREF III (GP), LLC	n/a	n/a	n/a	Y	no	n/a

Offices

Schedule D 1.F offices beyond the principal office; street addresses are not published

City	State	Country	Employees	Also broker-dealer
Dallas	TX	United States	6	no
Zurich	n/a	Switzerland	6	no
Singapore	n/a	Singapore	3	no
London	n/a	United Kingdom	2	no
Atlanta	Ga	United States	1	no
Farmington	Ut	United States	1	no
HONG KONG	n/a	Hong Kong	1	no

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
2025	Mar 27, 2026	$48B	$30B	164	83	8	92	n/a
2024	Mar 31, 2025	$45B	$28B	157	84	7	92	n/a
2023	Mar 29, 2024	$42B	$27B	158	82	7	89	$21B
2022	Mar 31, 2023	$41B	$27B	140	78	7	86	$21B
2021	Mar 31, 2022	$38B	$34B	126	77	8	86	$22B
2020	Mar 31, 2021	$31B	$27B	118	72	5	73	$18B
2019	Mar 30, 2020	$27B	$24B	107	67	6	76	$16B
2018	Mar 29, 2019	$24B	$22B	100	65	5	71	$14B
2017	Mar 30, 2018	$23B	$19B	99	50	7	73	$12B
2016	Mar 31, 2017	$37B	$14B	91	50	n/a	68	$12B
2015	Mar 30, 2016	$36B	$14B	84	50	n/a	63	$16B
2014	Mar 30, 2015	$34B	$14B	82	52	n/a	51	$11B
2013	Mar 31, 2014	$36B	$13B	77	51	n/a	47	$10B
2012	Mar 28, 2013	$33B	$9.6B	82	47	n/a	39	$7.8B
2011	Mar 30, 2012	$31B	$9.7B	n/a	n/a	n/a	29	$8.9B

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	$48B	$45B	7.1%	$41B	5.4%	164	157	8	7

Relationships

showing 80 of 161

Affiliated with (18)

← FS GLOBAL ADVISOR, LLCRegistered adviserother investment adviser, pooled vehicle sponsor, common control
factForm ADV
← FS CREDIT INCOME ADVISOR, LLCRegistered adviserother investment adviser, pooled vehicle sponsor, common control
factForm ADV
← FS SPECIALTY LENDING ADVISOR, LLCRegistered adviserother investment adviser, pooled vehicle sponsor, common control
factForm ADV
← FS TACTICAL ADVISOR, LLCRegistered adviserother investment adviser, pooled vehicle sponsor, common control
factForm ADV
← FS REIT ADVISOR, LLCRegistered adviserother investment adviser, pooled vehicle sponsor, common control
factForm ADV
← FS/KKR ADVISOR, LLCRegistered adviserother investment adviser, pooled vehicle sponsor
factForm ADV
→ FS GLOBAL ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ CHIRON INVESTMENT MANAGEMENT, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FS FUND ADVISOR, LLCRegistered adviserother investment adviser, bank, 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
→ FS TACTICAL ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FS STRUCTURED PRODUCTS ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FS REIT ADVISOR, LLCRegistered adviserother investment adviser, common control
factForm ADV
← FS STRUCTURED PRODUCTS ADVISOR, LLCRegistered adviserother investment adviser, pooled vehicle sponsor, common control
factForm ADV
← FS FUND ADVISOR, LLCRegistered adviserother investment adviser, pooled vehicle sponsor, common control
factForm ADV
← CHIRON INVESTMENT MANAGEMENT, LLCRegistered adviserother investment adviser, pooled vehicle sponsor, common control
factForm ADV

Advises (62)

→ PA MAC FUND, L.P. - LANDING SERIESPrivate fundPrivate Equity Fund, IA
Mar 31, 2022 to presentfactForm ADV
→ PORTFOLIO ADVISORS PRIVATE EQUITY FUND IV, L.P.Private fundPrivate Equity Fund, IA
Mar 30, 2012 to presentfactForm ADV
→ PORTFOLIO ADVISORS PRIVATE EQUITY FUND VIII, L.P.Private fundPrivate Equity Fund, IA
Mar 28, 2013 to presentfactForm ADV
→ PORTFOLIO ADVISORS PRIVATE EQUITY FUND 2017, L.PPrivate fundPrivate Equity Fund, IA
Mar 30, 2018 to presentfactForm ADV
→ PA-HAM ASIA INVESTMENT VEHICLE, L.P.Private fundPrivate Equity Fund, IA
Mar 30, 2018 to presentfactForm ADV
→ PA BLUE FUND, L.P.Private fundPrivate Equity Fund, IA
Mar 30, 2016 to presentfactForm ADV
→ PORTFOLIO ADVISORS PRIVATE EQUITY FUND 2015 (OFFSHORE), L.P.Private fundPrivate Equity Fund, IA
Mar 28, 2013 to presentfactForm ADV
→ PORTFOLIO ADVISORS PRIVATE EQUITY FUND IX, L.P.Private fundPrivate Equity Fund, IA
Mar 31, 2017 to presentfactForm ADV
→ PA MAC FUND, L.P. - AIS EQUITY SERIESPrivate fundPrivate Equity Fund, IA
Mar 30, 2020 to presentfactForm ADV
→ PA VERITAS PE FUND, L.P.Private fundPrivate Equity Fund, IA
Mar 31, 2014 to presentfactForm ADV
→ PA MAC FUND, L.P. - BEYOND TRUST SERIESPrivate fundPrivate Equity Fund, IA
Mar 31, 2022 to presentfactForm ADV
→ PORTFOLIO ADVISORS ASIA FUND VI, L.P.Private fundPrivate Equity Fund, IA
Mar 29, 2019 to presentfactForm ADV
→ PORTFOLIO ADVISORS PRIVATE EQUITY FUND XI, LPPrivate fundPrivate Equity Fund, IA
Mar 31, 2022 to presentfactForm ADV
→ PORTFOLIO ADVISORS PRIVATE EQUITY FUND VI, L.P.Private fundPrivate Equity Fund, IA
Mar 30, 2012 to presentfactForm ADV
→ PA MASTER ACCESS FUND, SCSP, SICAV-RAIFPrivate fundPrivate Equity Fund, IA
Mar 31, 2023 to presentfactForm ADV
→ PA MAC FUND, L.P. - AIS DEBT SERIESPrivate fundPrivate Equity Fund, IA
Mar 30, 2020 to presentfactForm ADV
→ PA MAC FUND (OFFSHORE), L.P.Private fundPrivate Equity Fund, IA
Mar 31, 2022 to presentfactForm ADV
→ PA MAC FUND, L.P. - WILDFLOWER SERIESPrivate fundPrivate Equity Fund, IA
Mar 31, 2022 to presentfactForm ADV
→ PA MAC FUND, L.P. - RAM SERIESPrivate fundPrivate Equity Fund, IA
Mar 30, 2020 to presentfactForm ADV
→ PA GROWTH & INCOME FUND, L.P.Private fundOther Private Fund, IA
Mar 30, 2018 to presentfactForm ADV
→ PORTFOLIO ADVISORS SECONDARY FUND III, L.P.Private fundPrivate Equity Fund, IA
Mar 30, 2016 to presentfactForm ADV
→ PA MAC FUND, L.P. - DYNASTY SERIESPrivate fundPrivate Equity Fund, IA
Mar 30, 2020 to presentfactForm ADV
→ BAIN CAPITAL X PA FUND, L.P.Private fundPrivate Equity Fund, IA
Mar 30, 2012 to presentfactForm ADV
→ PA CO-INVESTMENT FUND V, LPPrivate fundPrivate Equity Fund, IA
Mar 31, 2023 to presentfactForm ADV
→ PORTFOLIO ADVISORS PRIVATE EQUITY FUND X, LPPrivate fundPrivate Equity Fund, IA
Mar 29, 2019 to presentfactForm ADV
→ PORTFOLIO ADVISORS PRIVATE EQUITY FUND 2022 (OFFSHORE), L.P.Private fundPrivate Equity Fund, IA
Mar 31, 2023 to presentfactForm ADV
→ PORTFOLIO ADVISORS REAL ESTATE FUND VI, L.P.Private fundReal Estate Fund, IA
Mar 30, 2016 to presentfactForm ADV
→ PA MAC FUND, L.P. - BANCA MARCH SERIESPrivate fundPrivate Equity Fund, IA
Mar 31, 2023 to presentfactForm ADV
→ PA VERITAS RE FUND, L.P.Private fundPrivate Equity Fund, IA
Mar 31, 2014 to presentfactForm ADV
→ PA CO-INVESTMENT FUND III, LPPrivate fundPrivate Equity Fund, IA
Mar 31, 2017 to presentfactForm ADV
and 32 more

Dated events

Occurred
Jul 31, 2023
Control person left
Potter Brian Murphy (Managing Director) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Joseph William Indelicato (Managing Director) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Alger Todd Hughes (Managing Director) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Mark Kenneth Wisdom (Managing Director) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Friedrich Nicolas Von Der Schulenburg (Managing Director) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Jeffrey Hugh Perloff (Managing Director) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Virginia Christine Crotty (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Elaine Susan Delong (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Hogge Louise Murphy (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Potter Blake Murphy (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Joan Patricia Indelicato (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Christopher Daniel Iamiceli (Chief Financial Officer-Funds) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Marie Lauren Johnson (Chief Financial Officer - Corporate) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Nmn Melinda Higbee (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Giles David Higbee (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Thomas Benjamin Higbee (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Kaye Evelyn Higbee (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Scott Jacob Higbee (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Steven Samuel Higbee (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person left
Gwen Jana Lindberg (Trustee) no longer on Schedule A of Portfolio Advisors Llc (listed 2023-03-31, absent 2023-07-31)
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person joined
Craig Michael Forman (Managing Member) appeared on Schedule A of Portfolio Advisors Llc
Form ADVobserved 4 days ago
Occurred
Jul 31, 2023
Control person joined
Jason David Adelman (Member) appeared on Schedule A of Portfolio Advisors Llc
Form ADVobserved 4 days ago
Occurred
Mar 29, 2019
Control person joined
Lauren Johnson (Chief Financial Officer - Corporate) appeared on Schedule A of Portfolio Advisors Llc
Form ADVobserved 4 days ago
Occurred
Mar 30, 2018
Regulatory AUM changed
Portfolio Advisors Llc reported RAUM $23.5B, down 37% from $37.1B (2017-03-31 to 2018-03-30)
Form ADVobserved 4 days ago
$-13.6B

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:cdab1f0e-07ae-25e4-432f-cd620574ac26
First observed: Mar 30, 2012
Last observed: Mar 27, 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.

PORTFOLIO ADVISORS LLC

CRD 105981

DARIEN, CT

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Data as of Mar 27, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 12:38 AM UTC and rebuilt at most every 15 minutes.

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

PA-EP FUND, L.P.

Private Equity Fund

$5.4B

Mar 29, 2024

Mar 30, 2012

reported

n/a

PORTFOLIO ADVISORS SECONDARY FUND IV, LP

Private Equity Fund

$2.7B

Mar 29, 2024

398

Mar 30, 2020

reported

021-358020

PA DIRECT CREDIT OPPORTUNITIES FUND III, LP

Private Equity Fund

$1.1B

Mar 29, 2024

204

Mar 29, 2019

reported

021-330987

PORTFOLIO ADVISORS SECONDARY FUND III, L.P.

Private Equity Fund

$1.1B

Mar 29, 2024

296

Mar 30, 2016

reported

021-249665

PA BLUE FUND, L.P.

Private Equity Fund

$869M

Mar 29, 2024

Mar 30, 2016

reported

021-255401

PA PALACE FUND, LP

Private Equity Fund

$700M

Mar 29, 2024

Mar 30, 2020

reported

021-348288

PORTFOLIO ADVISORS PRIVATE EQUITY FUND IX (OFFSHORE), L.P.

Private Equity Fund

$624M

Mar 29, 2024

Mar 31, 2017

reported

021-270547

PORTFOLIO ADVISORS PRIVATE EQUITY FUND VIII (OFFSHORE), L.P.

Private Equity Fund

$526M

Mar 29, 2024

Mar 30, 2016

reported

021-193938

PORTFOLIO ADVISORS PRIVATE EQUITY FUND X, LP

Private Equity Fund

$496M

Mar 29, 2024

102

Mar 29, 2019

reported

021-316415

MVP PRIVATE MARKETS FUND, L.P.

Private Equity Fund

$452M

Mar 31, 2022

dropped

021-398847

PA CO-INVESTMENT FUND IV, LP

Private Equity Fund

$391M

Mar 29, 2024

Mar 30, 2020

reported

021-358014

PORTFOLIO ADVISORS PRIVATE EQUITY FUND 2022, L.P.

Private Equity Fund

$388M

Mar 29, 2024

698

Mar 31, 2023

reported

021-441527

PORTFOLIO ADVISORS PRIVATE EQUITY FUND XI, LP

Private Equity Fund

$365M

Mar 29, 2024

111

Mar 31, 2022

reported

021-394050

PA DIRECT CREDIT OPPORTUNITIES FUND II, L.P.

Private Equity Fund

$358M

Mar 29, 2024

252

Mar 30, 2015

reported

021-292880

PA DIRECT CREDIT OPPORTUNITIES FUND II (OFFSHORE), L.P.

Private Equity Fund

$298M

Mar 29, 2019

Mar 30, 2015

dropped

021-193933

PORTFOLIO ADVISORS REAL ESTATE FUND VII, L.P.

Real Estate Fund

$295M

Mar 29, 2024

Mar 29, 2019

reported

021-303739

PORTFOLIO ADVISORS REAL ESTATE FUND VIII, L.P.

Real Estate Fund

$291M

Mar 29, 2024

Mar 31, 2022

reported

021-390129

PORTFOLIO ADVISORS CREDIT STRATEGIES FUND, L.P.

Other Private Fund

$265M

Mar 29, 2024

103

Mar 28, 2013

reported

021-193933

PORTFOLIO ADVISORS PRIVATE EQUITY FUND VII (OFFSHORE), L.P.

Private Equity Fund

$257M

Mar 29, 2024

Mar 30, 2012

reported

021-163608

PORTFOLIO ADVISORS PRIVATE EQUITY FUND 2017, L.P

Private Equity Fund

$249M

Mar 29, 2024

266

Mar 30, 2018

reported

021-303733

PA CO-INVESTMENT FUND III, LP

Private Equity Fund

$235M

Mar 29, 2024

Mar 31, 2017

reported

021-292880

PORTFOLIO ADVISORS PRIVATE EQUITY FUND VII, L.P.

Private Equity Fund

$184M

Mar 29, 2024

Mar 30, 2012

reported

021-157829

PORTFOLIO ADVISORS PRIVATE EQUITY FUND VI (OFFSHORE), L.P.

Private Equity Fund

$178M

Mar 29, 2024

Mar 30, 2012

reported

021-127438

PORTFOLIO ADVISORS PRIVATE EQUITY FUND VIII, L.P.

Private Equity Fund

$174M

Mar 29, 2024

Mar 28, 2013

reported

021-193937

PA CO-INVESTMENT FUND V, LP

Private Equity Fund

$172M

Mar 29, 2024

Mar 31, 2023

reported

021-455946

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

ADELMAN, DAVID, JASON

Member

yes

05/2007

Jul 31, 2023

Mar 29, 2024

CAMPBELL, ELIZABETH, MERRITT

MEMBER OF MANAGEMENT COMMITTEE

yes

01/2018

Mar 29, 2019

Mar 29, 2024

CLEMENS, ADAM, GERARD

MEMBER OF MANAGEMENT COMMITTEE

yes

02/2010

Mar 30, 2012

Mar 29, 2024

DWYER, DANIEL, FRANCIS

CHIEF COMPLIANCE OFFICER

yes

01/2014

Mar 28, 2013

Mar 29, 2024

EISENBERG, JESSE, SEVIN

GENERAL COUNSEL

yes

01/2014

Mar 30, 2012

Mar 29, 2024

FB CAPITAL MANAGEMENT, LLC

GENERAL PARTNER

yes

01/2013

Jul 31, 2023

Mar 29, 2024

FB CAPITAL PARTNERS, L.P.

Member

yes

06/2023

Jul 31, 2023

Mar 29, 2024

FORMAN, MICHAEL, CRAIG

MANAGING MEMBER

yes

05/2007

Jul 31, 2023

Mar 29, 2024

FORMAN, MICHAEL, CRAIG

SOLE MEMBER

yes

02/2007

Jul 31, 2023

Mar 29, 2024

FORMAN, MICHAEL, CRAIG

LIMITED PARTNER

yes

08/2005

Jul 31, 2023

Mar 29, 2024

FRANKLIN SQUARE HOLDINGS GP, LLC

GENERAL PARTNER

yes

05/2007

Jul 31, 2023

Mar 29, 2024

FRANKLIN SQUARE HOLDINGS, L.P.

Member

yes

06/2023

Jul 31, 2023

Mar 29, 2024

FSH NCI AGGREGATOR, LLC

LIMITED PARTNER

yes

06/2023

Jul 31, 2023

Mar 29, 2024

HIGBEE, SCOTT, DAVID

MEMBER OF MANAGEMENT COMMITTEE

yes

09/2020

Mar 31, 2021

Mar 29, 2024

LINDBERG, BROOKS, ANTHONY

MEMBER OF MANAGEMENT COMMITTEE

yes

05/2020

Mar 31, 2021

Mar 29, 2024

SLOAN, STEPHEN, COULAM

MEMBER OF MANAGEMENT COMMITTEE

yes

10/2020

Mar 31, 2021

Mar 29, 2024

THE 2011 FORMAN INVESTMENT TRUST

Member

yes

06/2023

Jul 31, 2023

Mar 29, 2024

HELLER, MICHAEL, JAY

Trustee

01/2012

Jul 31, 2023

Mar 29, 2024

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

FS REAL ESTATE ADVISOR, LLC

n/a

Asset manager

$9.1B

yes

n/a

FS GLOBAL ADVISOR, LLC

n/a

Asset manager

$3.0B

yes

n/a

FS STRUCTURED PRODUCTS ADVISOR, LLC

n/a

Asset manager

$2.2B

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

CHIRON INVESTMENT MANAGEMENT, LLC

n/a

Former SEC adviser

$440M

yes

n/a

FS TACTICAL ADVISOR, LLC

n/a

Asset manager

$279M

yes

n/a

ASIA SELECT MANAGEMENT LIMITED

n/a

FS INVESTMENT SOLUTIONS, LLC

n/a

yes

n/a

LIBERTY RE GP, LLC

n/a

PA BLUE GP, LLC

n/a

PA GPS GP, LLC

n/a

yes

n/a

PA MAC GP, LLC

n/a

PA MAC LUX GP, S.A R.L.

n/a

yes

n/a

PA PALACE, GP, LLC

n/a

PA PASF GP, LLC

n/a

PA SAFFRON GP, LLC

n/a

yes

n/a

PA VERITAS GP, LLC

n/a

PA-EP GP, LLC

n/a

PA-HAM GP, LLC

n/a

PAAF IV GP, LLC

n/a

PAAF V GP, LLC

n/a

PAAF VI GP, LLC

n/a

PAAF VII GP, LLC

n/a

PACSF (GP), LLC

n/a

PADCOF II (GP), LLC

n/a

PADCOF III (GP), LLC

n/a

PAF 6/05, LLC

n/a

PAGIF GP, LLC

n/a

PAILS GP, LLC

n/a

yes

n/a

PAPEF IX, (GP) LLC

n/a

PAPEF V (GP), LLC

n/a

PAPEF VI (GP), LLC

n/a

PAPEF VII (GP), LLC

n/a

PAPEF VIII (GP), LLC

n/a

PAPEF X, (GP) LLC

n/a

PAPEF XI GP, LLC

n/a

yes

n/a

PAREF III (GP), LLC

n/a

City

State

Country

Employees

Also broker-dealer

Dallas

United States

Zurich

n/a

Switzerland

Singapore

n/a

Singapore

London

n/a

United Kingdom

Atlanta

United States

Farmington

United States

HONG KONG

n/a

Hong Kong

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Mar 27, 2026

$48B

$30B

164

n/a

2024

Mar 31, 2025

$45B

$28B

157

n/a

2023

Mar 29, 2024

$42B

$27B

158

$21B

2022

Mar 31, 2023

$41B

$27B

140

$21B

2021

Mar 31, 2022

$38B

$34B

126

$22B

2020

Mar 31, 2021

$31B

$27B

118

$18B

2019

Mar 30, 2020

$27B

$24B

107

$16B

2018

Mar 29, 2019

$24B

$22B

100

$14B

2017

Mar 30, 2018

$23B

$19B

$12B

2016

Mar 31, 2017

$37B

$14B

n/a

$12B

2015

Mar 30, 2016

$36B

$14B

n/a

$16B

2014

Mar 30, 2015

$34B

$14B

n/a

$11B

2013

Mar 31, 2014

$36B

$13B

n/a

$10B

2012

Mar 28, 2013

$33B

$9.6B

n/a

$7.8B

2011

Mar 30, 2012

$31B

$9.7B

n/a

$8.9B

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$48B

$45B

7.1%

$41B

5.4%

164

157