DFX Intelligence

Private Equity Intelligence

Firms, funds, people, portfolio companies and transactions from sworn filings and cited announcements, kept as a graph with a date and a source on every edge. Reported gross assets are never fund size, regulatory AUM is never dry powder, and a deal value prints only when someone disclosed it.

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Firms / N••••• P•••••••• L••

N••••• P•••••••• L••

Buyout firm · probableUpper middle marketProvidence, RIn•••••.comSEC registered investment adviser

Classification

Class: Buyout firmprobable, confidence 80%
Basis: own website statement
Size band: Upper middle marketdefined by: proxy: $7.97bn Private Equity Fund GAV on the Form ADV filed 2024-11-27

Classification history (2)

Sep 13, 2026
Buyout firm (probable, 80%, cls-pe-1)
own website statement
“Since our founding, we believe that N•••••’s success as a middle-market private equity firm has been grounded in long-term, trust-based relationships with management teams, executives, and investors.”
n•••••.com
Sep 13, 2026
Buyout firm (confirmed, 85%, cls-pe-1)
R6: 31 of 31 distinct vehicles are sworn Private Equity Funds; 25 reported gross assets on a filing in 2022 or later

Regulatory footprint (Form ADV)

Adviser type: registered investment adviser
Form ADV filings: Feb 14, 2012 to Nov 27, 2024
RAUM: $7.8Bregulatory assets under management of the adviser; not dry powder, not a fund size
PE funds, latest filing: 20
PE fund GAV, latest filing: $8.0Breported gross assets (Form ADV), not fund size
All private fund GAV: $8.0Bevery private fund type, latest filing
2024 PE fund GAV: $8.0Bsum over funds typed Private Equity Fund with a 2024 or later as-of date
PE share of funds, lifetime: 100%
Fund type mix: filed 2024-11-27, latest gav Private Equity Fund $8.0B, latest counts Private Equity Fund 20, lifetime distinct Private Equity Fund 31
Employees: 70
Headquarters: Providence, RI
Office address: 50 KENNEDY PLAZA, 17TH FLOOR, Providence, RI, 02903-2393
Business phone: 401-278-6770

Stated criteria beside observed behaviour

5 observed deals

Stated by the firm

Sectors: industrials, healthcare, life sciences, technology, education
Geography: not stated or not yet read
Revenue: not stated or not yet read
EBITDA: not stated or not yet read
Enterprise value: not stated or not yet read
Equity check: not stated or not yet read
Control: not stated or not yet read
Thesis: Through in-house theme development and comprehensive sector mapping, we seek to make each investment from a highly informed vantage point, grounded in a strong understanding of industry dynamics, business models, and key executive talent.

Observed from deals on record

roles: unknown 4, platform 1
period: to 2025-12-10, from 2025-12-10, undated holdings 4, dated observations 2
window: last 2025-12-10, first 2025-12-10
control: control 1, unknown 4
companies: 5
geography
investments: 5
seller kinds: sponsor 1
transactions: 2
cadence by year: 2025 other deals 1
platform add on: add ons 0, platforms 1, add ons per platform unknown
sector known for: 3
disclosed value usd: n 0
sector distribution: count 2, share 0.4, value healthcare services, examples PANTHERx Rare, SenderraRx, count 1, share 0.2, value business services, examples Darien Group
holding period years: n 0
repeat counterparties
subsector distribution: count 2, share 0.4, value other ambulatory, examples PANTHERx Rare, SenderraRx, count 1, share 0.2, value advertising marketing, examples Darien Group

5 companies on the graph (2 transactions); most in healthcare services (2); 1 platforms and 0 add-ons; observed 2025 to 2025

Funds

31 on record

Fund	Vehicle	Vintage	Reported gross assets (Form ADV), not fund size	Form D sold	Lifecycle
N••••• F••• 5•• L••• ADV: Private Equity Fund	buyout or unlabelled	2024 first reported on Form ADV	$141M as of Nov 27, 2024	no Form D	Unknown
N••••• P••••••• A••••••••• F•••• L••• ADV: Private Equity Fund	buyout or unlabelled	2023 first reported on Form ADV	$448,796 as of Nov 27, 2024	no Form D	Early deployment
N••••• P••••••• X• L••• ADV: Private Equity Fund	buyout or unlabelled	2022 first reported on Form ADV	$2.0B as of Nov 27, 2024	no Form D	Early deployment
N••••• P••••••• X••• L••• ADV: Private Equity Fund	Feeder or parallel	2022 first reported on Form ADV	$1.6B as of Nov 27, 2024	no Form D	Unknown
N••••• P••••••• ••••• L••• ADV: Private Equity Fund	buyout or unlabelled	2022 first reported on Form ADV	$251M as of Nov 27, 2024	no Form D	Early deployment
I•• S••••••• A••••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2022 first reported on Form ADV	$127M as of Nov 27, 2024	no Form D	Unknown
N••••• C••••••••• C••••••••• L••• ADV: Private Equity Fund	Co-investment vehicle	2021 first reported on Form ADV	$658M as of Nov 27, 2024	no Form D	Unknown
N••••• P••••••• I•• L••• ADV: Private Equity Fund	buyout or unlabelled	2019 first reported on Form ADV	$1.2B as of Nov 27, 2024	no Form D	Unknown
N••••• P••••••• I•••• L••• ADV: Private Equity Fund	Feeder or parallel	2019 first reported on Form ADV	$676M as of Nov 27, 2024	no Form D	Unknown
E•••••• C••••••••• L•• ADV: Private Equity Fund	Co-investment vehicle	2018 first reported on Form ADV	$450,941 as of Mar 30, 2022	no Form D	Wound down
N••••• P••••••• V•••• L••• ADV: Private Equity Fund	buyout or unlabelled	2016 first reported on Form ADV	$640M as of Nov 27, 2024	no Form D	Unknown
N••••• P••••••• V•••••• L••• ADV: Private Equity Fund	Feeder or parallel	2016 first reported on Form ADV	$238M as of Nov 27, 2024	no Form D	Unknown
F•• L•• ADV: Private Equity Fund	Fund of funds	2014 first reported on Form ADV	$735,509 as of Nov 27, 2024	no Form D	Mature
N••••• P••••••• V• A•• N•••• L••• ADV: Private Equity Fund	Feeder or parallel	unknown	$148M as of Mar 31, 2015	no Form D	Wound down
N••••• P••••••• V• L••• ADV: Private Equity Fund	buyout or unlabelled	unknown	$132M as of Nov 27, 2024	no Form D	Harvest
N••••• P••••••• V••• L••• ADV: Private Equity Fund	buyout or unlabelled	unknown	$127M as of Nov 27, 2024	no Form D	Successor fundraising
N••••• P••••••• V••••• L••• ADV: Private Equity Fund	Feeder or parallel	unknown	$85.6M as of Nov 27, 2024	no Form D	Harvest
N••••• P••••••• V•• L••• ADV: Private Equity Fund	buyout or unlabelled	unknown	$65.6M as of Nov 27, 2024	no Form D	Harvest
N••••• P••••••• V••• A•• N•••• L••• ADV: Private Equity Fund	Feeder or parallel	unknown	$52.2M as of Mar 31, 2015	no Form D	Wound down
N••••• P••••••• V•••• L••• ADV: Private Equity Fund	Feeder or parallel	unknown	$22.8M as of Nov 27, 2024	no Form D	Harvest
C••••••• P••••••• I•• L••• ADV: Private Equity Fund	buyout or unlabelled	unknown	$10.2M as of Mar 31, 2015	no Form D	Wound down
F•••• E••••• P••••••• V••• L••• ADV: Private Equity Fund	Fund of funds	unknown	$9.8M as of Nov 27, 2024	no Form D	Successor fundraising
F•••• E••••• P••••••• V•• L••• ADV: Private Equity Fund	Buyout fund	unknown	$3.9M as of Mar 30, 2023	no Form D	Wound down
C••••••• P••••••• I••• L••• ADV: Private Equity Fund	buyout or unlabelled	unknown	$401,964 as of Mar 30, 2023	no Form D	Wound down
C••••••• F••• P•••••••• L••• ADV: Private Equity Fund	Fund of funds	unknown	$361,973 as of Mar 30, 2023	no Form D	Wound down
K•••••• P•••• P••••••• V•• L••• ADV: Private Equity Fund	buyout or unlabelled	unknown	$307,064 as of Nov 27, 2024	no Form D	Mature
K•••••• P•••• P••••••• I•• L•• ADV: Private Equity Fund	buyout or unlabelled	unknown	$170,548 as of Mar 31, 2015	no Form D	Wound down
P•• N••••• C••••••••• H••••••• L•• ADV: Private Equity Fund	Co-investment vehicle	unknown	$152,945 as of Sep 11, 2018	no Form D	Wound down
K•••••• P•••• P••••••• I••• L•• ADV: Private Equity Fund	buyout or unlabelled	unknown	$116,772 as of Nov 27, 2024	no Form D	Harvest
F•••• E••••• P••••••• V• L••• ADV: Private Equity Fund	Buyout fund	unknown	$44,596 as of Jan 6, 2015	no Form D	Wound down
K•••••• P•••• P••••••• ADV: Private Equity Fund	buyout or unlabelled	unknown	$7,433 as of Mar 30, 2023	no Form D	Wound down

Team

14 current, 6 former

Partner (9)

B•••••• V•••••• B••••••• · Managing Director · since Jun 1, 2000 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
C•••• P••••• · a Managing Director · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
C••••••••• A•••• P••••• · Managing Director · since Nov 1, 2014 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
C••••••••• F• C•••• · Member · since Dec 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
C••••••••• J•••• C••••• · Member · since Dec 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
H•••• Y•••••• G•••• · Managing Director · since Jun 1, 2000 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
K•••• F••••• · Managing Director · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
M••• C•••• P••••••• · Managing Director · since Mar 1, 2020 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
S•••• F••••••••• H••••••• · Member · since Dec 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

Principal (1)

J•• A••••••• · Principal · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)

Platform (4)

A•••• M••••• B•••• P••••••• · Managing Director, Chief Operating Officer · since Jan 1, 2024 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
I• M••••••• · N••••• is always looking for talented, culturally aligned people to join our firm or support our portfolio companies. · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
J••• L• M••••• · Chief Financial Officer · since Aug 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
S••••••• J• M•••• · Chief Compliance Officer · since Aug 1, 2024 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

6 former (kept with end dates)

B•••••• B•••• W••••••• · Managing Director · Jan 1, 2006 to Feb 25, 2014 Inference
D•••••• C•••••• H••• · Managing Director · Sep 1, 2008 to Sep 11, 2018 Inference
J•••• M••••• L••••• · Managing Director · Apr 1, 2010 to Jan 6, 2015 Inference
C•••••• R••• B•••••••• · Chief Compliance Officer · Jan 1, 2015 to Aug 8, 2024 Inference
C•••••• L•••• B•••••• · Chief Financial Officer · Jun 1, 2000 to May 9, 2014 Inference
M•••••• W•••••• J•• · Chief Compliance Officer · Jun 1, 2000 to Jan 6, 2015 Inference

Portfolio

5 relationships, 1 platforms, 0 add-ons

Company	Role	Status	Invested	Held	Partner	Source
S•••••••••	Role unknown	active	Dec 10, 2025 transaction announcement	10 months	K•••• F••••• (confirmed)	Fact Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
D••••• G••••	Role unknown	active	unknown	unknown	unknown	Fact Investment organization websites (team, portfolio, strategy, criteria, news)
P•••••••	Role unknown	exited exited Jul 13, 2026	unknown	unknown	unknown	Fact Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
P••••••• R•••	Role unknown	exited exited Jul 13, 2026	unknown	unknown	unknown	Fact Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
S•••••••	Platform	active	unknown	unknown	C•••• P••••• (confirmed)	Fact Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)

Transactions

4 on record

Date	Type	Target	This firm’s role	Source
Jul 13, 2026	Exit to a strategic buyer	P••••••• R•••	Seller (confirmed)	prnewswire.com
Jul 13, 2026	Exit to a strategic buyer	P•••••••	Seller (confirmed)	warburgpincus.com
Dec 10, 2025	Growth investment	S•••••••••	Sponsor (confirmed)	prnewswire.com
date unknown	Sponsor to sponsor	S•••••••	Sponsor (confirmed)	arsenalcapital.com

Placement agents, lenders, advisers and co-investors

5 relationships

Placement agents (2)

M•••••• C•••••• A•••••••• L•• 6 shared · very strong · last Jan 1, 2019
C••••• S••••• P•••• S••••••••• S••••••• •••• L•• 3 shared · strong · last Jan 1, 2012

Financial advisers (1)

C••••• F••••••••• 1 shared · one time · last Dec 10, 2025

Legal advisers (2)

W••• • S•••••• 1 shared · one time · last Dec 10, 2025
B•••• • S••• 1 shared · one time · last Dec 10, 2025

LP commitments

7 disclosed

C••••••••• S•••• T•••••••• R••••••••• S••••• in N••••• P••••••• V• L••• $200M calstrs.com
A••••• P•••••••• F••• C••••••••• in N••••• P••••••• V•••• L••• $12.4M apfc.org
A••••• P•••••••• F••• C••••••••• in N••••• P••••••• I•• L••• $15.0M apfc.org
A••••• P•••••••• F••• C••••••••• in N••••• P••••••• X• L••• $20.0M apfc.org
A••••• P•••••••• F••• C••••••••• $20.0M apfc.org
L•• A•••••• C••• E••••••••• R••••••••• S••••• in N••••• P••••••• V• L••• amount not disclosed lacers.org
L•• A•••••• C••• E••••••••• R••••••••• S••••• in C••••••• P••••••• I•• L••• $8.8M lacers.org

Events

6 most recent

Jul 13, 2026
warburg pincus led investor group agrees to acquire controlling interest in p••••••• r•••
ExitFactP•••••••Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
Jul 13, 2026
Warburg Pincus-Led Investor Group Agrees to Acquire Controlling Interest in P•••••••® R•••
ExitFactP••••••• R•••Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
Apr 30, 2026
N••••• P•••••••• L••: Private Equity Funds on Form ADV 20 (2024 extract) -> 18 (roster 2026-09-01)
Pe fund count changedFactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Dec 31, 2025
A••••• P•••••••• F••• C••••••••• reports N••••• Partners XI LP: $20,000,000 committed, vintage 2025
Lp commitment disclosedFactA••••• P•••••••• F••• C•••••••••Public pension private-markets disclosures, read through the venture lane's LP report tape
Dec 10, 2025
S••••••••• Announces Strategic Growth Investment from N••••• Partners
Growth investmentFactS•••••••••Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
Feb 14, 2012
N••••• P•••••••• L•• first filed Form ADV in the extract (IA)
First Form ADV filingFactSEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

Scores and what they are made of

Freshness100 · HIGH: as of: 2026-09-21items: [{"code":"DAYS_SINCE_NEWEST_EVIDENCE","points":1,"evidence":"0 days"}]method: sum of component points, capped at 1.0
model score-pe-1
Research priority66 · ELEVATED: as of: 2026-09-21items: [{"code":"SCALE_BAND","points":0.35,"evidence":"UPPER_MIDDLE_MARKET"},{"code":"Cmethod: sum of component points, capped at 1.0
model score-pe-1
Investment velocity3 · LOW: as of: 2026-09-21items: [{"code":"TRANSACTIONS_PER_YEAR_36M","points":0.03333333333333333,"evidence":"1 method: sum of component points, capped at 1.0
model score-pe-1
Acquisition appetite25 · MODERATE: as of: 2026-09-21items: [{"code":"RECENT_FUND","points":0.2,"caution":"a recent fund is evidence of deplmethod: sum of component points, capped at 1.0
model score-pe-1
Profile completeness83 · HIGH: as of: 2026-09-21items: [{"code":"FIELDS_PRESENT","points":0.8333333333333334,"evidence":["website","funmethod: sum of component points, capped at 1.0
missing: description, lenders
model score-pe-1
Fund deployment activity100 · HIGH: as of: 2026-09-21items: [{"code":"FUNDS_DEPLOYING","points":0.7,"caution":"deployment state is read frommethod: sum of component points, capped at 1.0
model score-pe-1

Across DFX

Independent Sponsor Intelligence (matched on shared crd)

Record

First observed: Sep 13, 2026
Last observed: today
Observations: 54
Sources: 4
Open research tasks: 1

Reading this profile

Reported gross assets are what an adviser told the SEC a fund held on a date. They are not the fund’s size and not dry powder. RAUM is a regulatory measure of the adviser, not capital available to invest.

A section that says nothing has been collected means exactly that: the graph has not read that kind of record for this firm yet.

Across the graphs

N••••• P•••••••• L•• is the same institution as 3 records in Independent Sponsors, RIA and Wealth and Allocators.

Independent Sponsors1RIA and Wealth1Allocators1

Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.

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