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RIA / WealthRegistered adviserasset managerSEC registeredRAUM 100m 1b

NEXT MANAGEMENT ADVISORS, LLC

CRD 324644

NEW YORK, NY

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:e7262caa-de93-18bc-7bdc-827ebfda9113

Data as of Apr 21, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 9:53 PM UTC and rebuilt at most every 15 minutes.

Relationships: 4
Dated events: 1
On other graphs: 2
Observed: Jan 17, 2023 to Apr 21, 2026
11 observations

Across DFX

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

Private Equityidentity

Next Management Advisors, LLC

Private equity manager · shared crd

Independent Sponsorsidentity

Next Management Advisors, LLC

Capital provider to sponsors · shared crd

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=true bd_reps=0.0
Regulatory AUM: $353MItem 5.F on the latest filing (2026-04-21); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $353M
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: 5
Advisory employees: 5
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 3
Private funds: 3Schedule D 7.B(1)
SEC number: 801-129135
CRD: 324644
Filings on the tape: 11
First filed: Jan 17, 2023
Latest filed: Apr 21, 2026
Organised: Limited Liability Company, DE
Website: next-investors.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
NEXT INVESTORS II, LP	Private Equity Fund	$216M	Aug 6, 2024	116	Mar 22, 2024	reported	021-285927
NEXT INVESTORS, LLC	Private Equity Fund	$85.7M	Aug 6, 2024	27	Mar 22, 2024	reported	021-214257

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
FREUDENSTEIN, ALAN, HOWARD	Partner	D	yes	12/2022	Jan 17, 2023	Aug 6, 2024
GRIMALDI, GREGORY, MICHAEL	PARTNER AND CHIEF COMPLIANCE OFFICER	D	yes	12/2022	Jan 17, 2023	Aug 6, 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
NEXT ASSOCIATES II, LP	n/a	n/a	n/a	Y	yes	n/a
NEXT ASSOCIATES, LP	n/a	n/a	n/a	Y	yes	n/a
NEXT CO-INVESTORS, L.P.	n/a	n/a	n/a	Y	yes	n/a
NEXT I GP, LLC	n/a	n/a	n/a	Y	yes	n/a
NEXT II GP, LLC	n/a	n/a	n/a	Y	yes	n/a
NEXT INVESTMENT AGGREGATOR, L.P.	n/a	n/a	n/a	Y	yes	n/a
NEXT INVESTORS FEEDER, LLC	n/a	n/a	n/a	Y	yes	n/a
NEXT INVESTORS HOLDINGS, L.P.	n/a	n/a	n/a	Y	yes	n/a
NEXT INVESTORS II (AIV), LLC	n/a	n/a	n/a	Y	yes	n/a
NEXT INVESTORS USHG, LLC	n/a	n/a	n/a	Y	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 3 of 4

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Private funds	Fund GAV
2025	Apr 21, 2026	$353M	$353M	5	5	3	n/a
2024	Mar 27, 2025	$345M	$345M	5	5	2	n/a
2023	Mar 22, 2024	$286M	$286M	5	5	2	$286M

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	$353M	$345M	2.3%	n/a	n/a	5	5	0	0

Relationships

Advises (2)

→ NEXT INVESTORS, LLCPrivate fundPrivate Equity Fund, IA
Mar 22, 2024 to presentfactForm ADV
→ NEXT INVESTORS II, LPPrivate fundPrivate Equity Fund, IA
Mar 22, 2024 to presentfactForm ADV

Controls (2)

← FREUDENSTEIN, ALAN, HOWARDOwnerPARTNER, ownership code D, individual
Jan 17, 2023 to Aug 6, 2024factForm ADV
← GRIMALDI, GREGORY, MICHAELOwnerPARTNER AND CHIEF COMPLIANCE OFFICER, ownership code D, individual
Jan 17, 2023 to Aug 6, 2024factForm ADV

Dated events

Occurred
Jan 17, 2023
First Form ADV filing
Next Management Advisors, Llc filed its initial SEC registration (Form ADV)
Form ADVobserved 5 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:e7262caa-de93-18bc-7bdc-827ebfda9113
First observed: Jan 17, 2023
Last observed: Apr 21, 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.

NEXT MANAGEMENT ADVISORS, LLC

CRD 324644

NEW YORK, NY

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:e7262caa-de93-18bc-7bdc-827ebfda9113

Data as of Apr 21, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 9:53 PM UTC and rebuilt at most every 15 minutes.

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

NEXT INVESTORS II, LP

Private Equity Fund

$216M

Aug 6, 2024

116

Mar 22, 2024

reported

021-285927

NEXT INVESTORS, LLC

Private Equity Fund

$85.7M

Aug 6, 2024

Mar 22, 2024

reported

021-214257

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

FREUDENSTEIN, ALAN, HOWARD

Partner

yes

12/2022

Jan 17, 2023

Aug 6, 2024

GRIMALDI, GREGORY, MICHAEL

PARTNER AND CHIEF COMPLIANCE OFFICER

yes

12/2022

Jan 17, 2023

Aug 6, 2024

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

NEXT ASSOCIATES II, LP

n/a

yes

n/a

NEXT ASSOCIATES, LP

n/a

yes

n/a

NEXT CO-INVESTORS, L.P.

n/a

yes

n/a

NEXT I GP, LLC

n/a

yes

n/a

NEXT II GP, LLC

n/a

yes

n/a

NEXT INVESTMENT AGGREGATOR, L.P.

n/a

yes

n/a

NEXT INVESTORS FEEDER, LLC

n/a

yes

n/a

NEXT INVESTORS HOLDINGS, L.P.

n/a

yes

n/a

NEXT INVESTORS II (AIV), LLC

n/a

yes

n/a

NEXT INVESTORS USHG, LLC

n/a

yes

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Apr 21, 2026

$353M

n/a

2024

Mar 27, 2025

$345M

n/a

2023

Mar 22, 2024

$286M

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$353M

$345M

2.3%

n/a