DFX Intelligence

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L••••• S••• C•••••• P•••••••• L••

Buyout firmClassification probableLower middle marketSEC registered investment adviser· Austin, TXl•••••••••.com

Buyout firm, based in Austin, TX.

Composed from this firm's filed classification and location. It has no published description on record.

As of 2026-09-16 · identity and classification; each section below carries its own date

Regulatory AUM: $233M
PE fund assets: $524M
PE funds: 2
Investments held: Not established
Deals, last 12 months: Not established

Funds and vehicles Team (3)Transactions

As of 2026-09-16 · identity and classification; each section below carries its own date

Why this matters

This firm publishes its own acquisition criteria, so a fit test does not have to be inferred from past deals.
Sectors manufacturing,technology,financial_services,energy,infrastructure,real_estate
Also held on 2 other DFX graphs, so its behaviour can be read from more than one side.
Graphs 2
Reported $233M of regulatory assets at its last Form ADV filing.
2026-03-31
RAUM $233M

Classification

How this organization is classified, and on what basisBuyout firm · 3 in historyShow

Class: Buyout firmprobable, confidence 80%
Basis: own website statement
Size band: Lower middle marketdefined by: proxy: $0.52bn Private Equity Fund GAV on the Form ADV filed 2024-03-28

Classification history (3)

Sep 16, 2026
Buyout firm (probable, 80%, cls-pe-2)
own website statement
“••• Locked”
l•••••••••.com
Sep 16, 2026
Buyout firm (probable, 80%, cls-pe-2)
own website statement
“••• Locked”
l•••••••••.com
Sep 13, 2026
Buyout firm (confirmed, 85%, cls-pe-1)
R6: 7 of 7 distinct vehicles are sworn Private Equity Funds; 6 reported gross assets on a filing in 2022 or later

Regulatory footprint (Form ADV)

Adviser type: registered investment adviser
Form ADV filings: Oct 26, 2018 to Mar 31, 2026
RAUM: $233Mregulatory assets under management of the adviser; not dry powder, not a fund size
PE funds, latest filing: 2
PE fund GAV, latest filing: $524Mreported gross assets (Form ADV), not fund size
All private fund GAV: $233Mevery private fund type, latest filing
2024 PE fund GAV: $524Msum over funds typed Private Equity Fund with a 2024 or later as-of date
PE share of funds, lifetime: 100%
Fund type mix: filed 2024-03-28, latest gav Private Equity Fund $524M, latest counts Private Equity Fund 2, lifetime distinct Private Equity Fund 7
Employees: 10
Headquarters: Austin, TX
Office address: ••• Locked
Business phone: ••• Locked

Stated criteria beside observed behaviour

no observed deals yet

Stated by the firm

Sectors: manufacturing, technology, financial services, energy, infrastructure, real estate
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: not stated or not yet read

Observed from deals on record

Nothing observed yet. Behaviour is computed from transactions and portfolio relationships, which have not been collected for this firm.

Funds

7 on record

Fund	Vehicle	Vintage	Reported gross assets (Form ADV), not fund size	Form D sold	Lifecycle
P••• 1• E••••• H•••••••• L• ADV: Private Equity Fund	buyout or unlabelled	2024 first reported on Form ADV	$523M as of Mar 28, 2024	no Form D	Unknown
B••• G••••••• L• ADV: Private Equity Fund	buyout or unlabelled	unknown	$119M as of Mar 31, 2023	no Form D	Wound down
L••• M•••••••• L• ADV: Private Equity Fund	buyout or unlabelled	unknown	$94.5M as of Mar 31, 2023	no Form D	Wound down
B••• M•••••••• L• ADV: Private Equity Fund	buyout or unlabelled	unknown	$43.1M as of Mar 31, 2023	no Form D	Wound down
L••• R•••••• L• ADV: Private Equity Fund	buyout or unlabelled	unknown	$25.1M as of Mar 31, 2023	no Form D	Wound down
L••• K••• L• ADV: Private Equity Fund	buyout or unlabelled	unknown	$710,831 as of Mar 28, 2024	no Form D	Harvest
L••• M•••••• L• ADV: Private Equity Fund	buyout or unlabelled	unknown	$100 as of Mar 27, 2019	no Form D	Wound down

Team

3 current, 1 former

Partner (2)

P•••••• J•••• S•••••• · Member · since May 1, 2016 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
T••• B••••••• S•••••• · Member · since May 1, 2016 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

Platform (1)

R•••••• L•••••••• · Chief Compliance Officer · since Apr 1, 2022 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

1 former (kept with end dates)

D••••• M••••••• H••• · Vice President, Chief Compliance Officer · May 1, 2016 to Apr 30, 2021 Inference

Portfolio

0 relationships, 0 platforms, 0 add-ons

No portfolio relationship collected for this firm yet. They arrive from the firm’s portfolio page, deal announcements and filings.

Transactions

0 on record

No transaction naming this firm has been collected yet. The deal tape is read from SEC filings and cited announcements.

Placement agents, lenders, advisers and co-investors

0 relationships

No counterparty collected yet. These are counted from transactions that name both this firm and the other party, and from placement agents on this firm’s funds.

LP commitments

0 disclosed

No LP commitment collected yet. An LP edge needs a public disclosure with a quote, such as a pension plan’s report or an announcement naming the LP.

Events

1 most recent

Oct 26, 2018
••• Locked
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

Freshness96 · HIGH: as of: 2026-09-23items: [{"code":"DAYS_SINCE_NEWEST_EVIDENCE","points":0.9611111111111111,"evidence":"7 method: sum of component points, capped at 1.0
model score-pe-1
Research priority53 · ELEVATED: as of: 2026-09-23items: [{"code":"SCALE_BAND","points":0.2,"evidence":"LOWER_MIDDLE_MARKET"},{"code":"COmethod: sum of component points, capped at 1.0
model score-pe-1
Investment velocity0 · LOW: as of: 2026-09-23items: []method: sum of component points, capped at 1.0
missing: no dated transactions
model score-pe-1
Acquisition appetite25 · MODERATE: as of: 2026-09-23items: [{"code":"RECENT_FUND","points":0.2,"caution":"a recent fund is evidence of deplmethod: sum of component points, capped at 1.0
missing: no transactions on the graph for this firm yet
model score-pe-1
Profile completeness50 · ELEVATED: as of: 2026-09-23items: [{"code":"FIELDS_PRESENT","points":0.5,"evidence":["website","funds","team","parmethod: sum of component points, capped at 1.0
missing: description, portfolio, transactions, lenders, intermediaries, lps
model score-pe-1
Fund deployment activity0 · LOW: as of: 2026-09-23items: []method: 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: 6 days ago
Observations: 27
Sources: 3
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

L••••• S••• C•••••• P•••••••• L•• is the same institution as 2 records in Independent Sponsors and RIA and Wealth.

Independent Sponsors1RIA and Wealth1

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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