DFX Intelligence

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C•••••• S••••• C•••••• P•••••••• I•••

Buyout firmClassification confirmedLower middle marketSEC registered investment adviser· Towson, MDc•••.com

••• Locked

As of 2026-09-23 · identity and classification; each section below carries its own date

Regulatory AUM: $663M
PE fund assets: $663M
PE funds: 13
Investments held: 0 of 2
Deals, last 12 months: Not established

Funds and vehicles Team (6)Transactions

As of 2026-09-23 · identity and classification; each section below carries its own date

Why this matters

Filed a Form D this month, which usually means a vehicle is in market.
2026-09-15
Latest Form D Sep 15, 2026
Also held on 3 other DFX graphs, so its behaviour can be read from more than one side.
Graphs 3
0 lenders and 3 placement agents appear beside this firm on the record.
Placement agents 3

Classification

How this organization is classified, and on what basisBuyout firm · 2 in historyShow

Class: Buyout firmconfirmed, confidence 85%
Basis: R6: 20 of 21 distinct vehicles are sworn Private Equity Funds; 19 reported gross assets on a filing in 2022 or later
Size band: Lower middle marketdefined by: proxy: $0.66bn Private Equity Fund GAV on the Form ADV filed 2026-03-27
Strategies: PRIVATE CREDIT

Classification history (2)

Sep 23, 2026
Buyout firm (confirmed, 85%, cls-pe-2)
R6: 20 of 21 distinct vehicles are sworn Private Equity Funds; 19 reported gross assets on a filing in 2022 or later
Sep 13, 2026
Buyout firm (confirmed, 85%, cls-pe-1)
R6: 18 of 19 distinct vehicles are sworn Private Equity Funds; 17 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 Mar 27, 2026
RAUM: $663Mregulatory assets under management of the adviser; not dry powder, not a fund size
PE funds, latest filing: 13
PE fund GAV, latest filing: $663Mreported gross assets (Form ADV), not fund size
All private fund GAV: $663Mevery private fund type, latest filing
2024 PE fund GAV: $668Msum over funds typed Private Equity Fund with a 2024 or later as-of date
PE share of funds, lifetime: 95%
Fund type mix: filed 2026-03-27, latest gav Private Equity Fund $663M, latest counts Private Equity Fund 13, lifetime distinct Other Private Fund 1, Private Equity Fund 20
Employees: 20
Headquarters: Towson, MD
Office address: ••• Locked
Business phone: ••• Locked

Stated criteria beside observed behaviour

2 observed deals

Stated by the firm

Sectors: not stated or not yet read
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

roles: unknown 2
period: to unknown, from unknown, undated holdings 2, dated observations 0
window: last unknown, first unknown
control: unknown 2
companies: 2
geography
investments: 2
seller kinds
transactions: 0
cadence by year
platform add on: add ons 0, platforms 0, add ons per platform unknown
sector known for: 0
disclosed value usd: n 0
sector distribution
holding period years: n 0
repeat counterparties
subsector distribution

2 companies on the graph (0 transactions); no dated observations

Funds

25 on record

Fund	Vehicle	Vintage	Reported gross assets (Form ADV), not fund size	GAV by year	Form D sold	Lifecycle
N•••••• I•••••••• L••	buyout or unlabelled	2026 Form D first sale	unknown	no reporting	$39.3M	Fundraising
F•• S••••••• I•• L••	buyout or unlabelled	2026 Form D first sale	unknown	no reporting	$20.6M	Fundraising
F•• S•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2025 Form D first sale	$8.0M as of Mar 27, 2026		$6.5M	Unknown
F•• I•••••••• L••	buyout or unlabelled	2025 Form D first sale	unknown	no reporting	$8.2M	Fundraising
T•• S••••••• I•• L•• ADV: Private Equity Fund	buyout or unlabelled	2022 first reported on Form ADV	$63.8M as of Mar 27, 2026		no Form D	Active deployment
A••• I•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2022 Form D first sale	$20.2M as of Mar 27, 2026		$11.0M	Active deployment
T• I•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2022 Form D first sale	$5.5M as of Mar 27, 2026		$5.0M	Active deployment
P•• I•• L••• ADV: Private Equity Fund	buyout or unlabelled	2021 first reported on Form ADV	$114M as of Mar 27, 2026		no Form D	Mature
M•• I•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2021 Form D first sale	$51.3M as of Mar 27, 2026		$34.8M	Active deployment
U•• O• I•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2021 first reported on Form ADV	$2.6M as of Nov 15, 2024		no Form D	Unknown
U•• I•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2021 first reported on Form ADV	$2.5M as of Nov 15, 2024		no Form D	Unknown
T•• S••••••• I•• L••	buyout or unlabelled	2021 Form D first sale	unknown	no reporting	$31.9M	Fundraising
T•• S•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2019 first reported on Form ADV	$51.2M as of Mar 27, 2026		no Form D	Unknown
H• I••••••• ••••••••• L•• ADV: Private Equity Fund	Feeder or parallel	2019 first reported on Form ADV	$1.4M as of Mar 27, 2026		no Form D	Harvest
T•• I•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2018 first reported on Form ADV	$198M as of Mar 27, 2026		no Form D	Unknown
H••• S•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2018 first reported on Form ADV	$66.5M as of Mar 27, 2026		no Form D	Unknown
H• I•••••••• L•• ADV: Private Equity Fund	buyout or unlabelled	2018 first reported on Form ADV	$406,871 as of Mar 27, 2026		no Form D	Harvest
A••••••••• P•••••••• L••• ADV: Private Equity Fund	buyout or unlabelled	2015 first reported on Form ADV	$44.0M as of Mar 27, 2026		no Form D	Mature
P•••••• I••••••••• • T•••••• P•••••••• L••• ADV: Private Equity Fund	buyout or unlabelled	2015 first reported on Form ADV	$2.5M as of Mar 30, 2022		no Form D	Wound down
P•• I••• L• ADV: Private Equity Fund	buyout or unlabelled	unknown	$39.3M as of Mar 27, 2026		no Form D	Unknown
L••• M•••• S••• M•••••••• F•••• L••• ADV: Other Private Fund	Credit fund	unknown	$31.6M as of Mar 29, 2016		no Form D	Wound down
L••• M•••• M•••••••• F•••• L••• ADV: Private Equity Fund	Credit fund	unknown	$9.8M as of Mar 26, 2019		no Form D	Wound down
C•••••• S••••• C•••••• P••••••• I••• L••• ADV: Private Equity Fund	Buyout fund	unknown	$2.5M as of Mar 30, 2022		no Form D	Wound down
L••• M•••• C•••••• P••••••• I•••• L••• ADV: Private Equity Fund	Buyout fund	unknown	$320,000 as of Dec 8, 2023		no Form D	Wound down
L••• M•••• C•••••• P••••••• I•••• L••• ADV: Private Equity Fund	Buyout fund	unknown	$60,000 as of Dec 8, 2023		no Form D	Wound down

Team

6 current, 5 former

Managing partner (1)

J••••• M••••••• D••••• H••• · President, Director · since Jan 1, 2004 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

Vice president (1)

A••••• L•••• J••• · Vice President, Secretary And Treasurer, Director · since Dec 1, 2014 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

Platform (4)

B•••• P••• G••••• · Vice President, Assistant Secretary, Director · since Aug 1, 2015 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
C••••• A•• S••••• · Chief Financial Officer · since Jul 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
M•••••• J••• B•••• · Vice President, Assistant Treasurer, Director · since Aug 1, 2015 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
P•••• P• G••••••• · Chief Compliance Officer · since Nov 1, 2023 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)

5 former (kept with end dates)

B•••• T••••• M•••••• · President, Director · Jan 1, 2004 to Nov 17, 2014 Inference
D•••• M•••••• S••••• · Chief Compliance Officer · Mar 1, 2023 to Dec 8, 2023 Inference
J••• S••••••••• · Chief Compliance Officer · Jul 1, 2021 to Mar 31, 2023 Inference
S•••• P•••• C•••••• · Chief Compliance Officer, Chief Financial Officer · Jan 1, 2016 to Jul 27, 2021 Inference
T••••• W•••••• C••••• · Chief Compliance Officer, Chief Financial Officer · May 1, 2011 to Mar 29, 2016 Inference

Portfolio

2 relationships, 0 platforms, 0 add-ons

Company	Role	Status	Invested	Held	Partner	Source
C••••••••• C••••••	Role unknown	unknown	unknown	unknown	unknown	Fact Investment organization websites (team, portfolio, strategy, criteria, news)
P•••••• C••••••	Role unknown	unknown	unknown	unknown	unknown	Fact Investment organization websites (team, portfolio, strategy, criteria, news)

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

3 relationships

Placement agents (3)

P••••••• F•••• G••••• L•• 1 shared · one time · last Jan 1, 2012
D••••• I••••••••• f•• S•••••• 1 shared · one time · last Jan 1, 2021
C•• C•••••• M••••••• L•• 1 shared · one time · last Jan 1, 2021

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

Feb 14, 2012
••• 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

Freshness100 · HIGH: as of: 2026-09-23items: [{"code":"DAYS_SINCE_NEWEST_EVIDENCE","points":1,"evidence":"0 days"}]method: sum of component points, capped at 1.0
model score-pe-1
Research priority47 · MODERATE: 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 appetite20 · LOW: 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 completeness67 · ELEVATED: as of: 2026-09-23items: [{"code":"FIELDS_PRESENT","points":0.6666666666666666,"evidence":["website","desmethod: sum of component points, capped at 1.0
missing: transactions, stated criteria, lenders, lps
model score-pe-1
Fund deployment activity100 · HIGH: as of: 2026-09-23items: [{"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: 40
Sources: 4
Open research tasks: 1

Reading this profile

Across the graphs

C•••••• S••••• C•••••• P•••••••• I••• is the same institution as 3 records in Independent Sponsors, RIA and Wealth and Private Credit.

Independent Sponsors1RIA and Wealth1Private Credit1

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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