DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

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SEC-registered adviser

P•• A•••••• I••

Institutional managerChicago, IllinoisCRD 107269SEC 801-40783websiteIAPD
Legal name P•• A••••••• I•••
Latest filing May 29, 2026
First filing on the tape Mar 30, 2012 · 47 filings
SEC status approved since Feb 20, 1992
RAUM
$94B
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
0.0%
$1.5M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
217
117 advisory (5.B.1)
Offices
5
beyond the principal office
Private funds
11
reported on Schedule D
History
47 filings and snapshots on the tape
RAUM$94B as of May 29, 2026
Mar 30, 2012$82B then
HNW client RAUM$1.5M as of May 29, 2026
Mar 29, 2018$0 then
State-registered IARs (5.B.3)0 as of May 29, 2026
Apr 1, 20130 then
Employees (5.A)217 as of May 29, 2026
Apr 1, 2013193 then
Private funds11 as of May 29, 2026
Mar 30, 20129 then
RAUM +26% over the last fiscal year+9.4% a year over threeIARs 0 to 0offices 6 to 5
Practice profile
derived from the filing of May 29, 2026; every figure names its basis
Archetypes, each a printed rule
  • Institutional asset manager · institutional share (pensions, government, insurance, corporations, charities, banks, other advisers) at least 60 percent and private-client share under 20 percent
  • OCIO / institutional advisory · selection of other advisers (5.G.7) and institutional share at least 50 percent
RAUM per advisor
unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.5MderivedHNW RAUM over HNW clients
Average account
$1.4BderivedRAUM over accounts (5.F.2.f)
Discretionary
99%derivedof RAUM
Institutional
79%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived6 offices incl. principal (1.F.5)
RAUM growth, one year
+26%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
+0.0%derived
Compensation
percentage of assets, fixed fees, performance-based, otherreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companies, selection of other advisersreportedItem 5.G
Custody
$2.4B, 2 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • has custody of client cash or bank accounts (9.A.1.a)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
  • an independent public accountant performs a surprise examination (9.C.1)
  • marketing includes testimonials (5.L.1.c)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Insurance companies$74B79%
  • Pooled investment vehicles$12B13%
  • Other investment advisers$4.4B4.7%
  • Investment companies$3.4B3.7%
  • Pension and profit-sharing plans$52.5M0.1%
  • Corporations and businesses$32.2M0.0%
  • High-net-worth individuals$1.5M0.0%
Individual clients
0reported
HNW clients
1reported
Pension plan clients
1reported
Charitable clients
0reported
Accounts
67reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$2.4B for 2 clientsreported
Compensation
% of AUM, fixed, performancereported
Class basis
private_client_share=0.0 fund_share=0.21 institutional_share=0.79 related_bd=true related_bank=true bd_reps=8.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Private funds
      14 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      P•• A•••••• P•••••• E••••• F••• V•• L•Private Equity Fund$831M10Mar 28, 2019
      P•• A•••••• P•••••• E••••• F••• V••••• L•Private Equity Fund$589M2Mar 29, 2022
      P•• A•••••• P•••••• E••••• F••• V• L•Private Equity Fund$213M10Mar 29, 2017
      P•• A•••••• P•••••• E••••• F••• V••• L•Private Equity Fund$151M9Mar 28, 2024
      P•• A•••••• P•••••• E••••• F••• L•no longer reportedPrivate Equity Fund$107M2Mar 30, 2012
      P•• A•••••• P•••••• E••••• F••• I• L•Private Equity Fund$101M9Mar 30, 2012
      P•• A•••••• P•••••• E••••• F••• I•• L•Private Equity Fund$55.5M9Mar 30, 2012
      P•• A•••••• P•••••• E••••• F••• V• L•Private Equity Fund$29.7M9Mar 30, 2015
      P•• A•••••• P•••••• E••••• F••• I• L•no longer reportedPrivate Equity Fund$18.4M2Mar 30, 2012
      S••••• 2••••• L••no longer reportedOther Private Fund$17.4M5Mar 30, 2012
      P•• A•••••• H••• G•••• C•• I• L•••no longer reportedSecuritized Asset Fund$10.5M8Mar 30, 2012
      P•• A•••••• S••••••••• F•••••• C•• I• L•••Securitized Asset Fund$4.8M1Mar 30, 2012
      P•• G••••••• C••• L•••no longer reportedSecuritized Asset Fund$592,6721Mar 30, 2012
      O•• H•••••• F••• I• L••no longer reportedPrivate Equity Fund$369,25462Mar 30, 2012
      Owners and control persons
      Schedule A and B, latest filing
      • B•••••• T•••••• R•••••• · Senior Vice President, Chief Compliance Officercontrol
        since 08/2014 · owns less than 5%
      • C••••••• M•••• T• · Executive Vice President, Chief Operating Officer, General Counsel, Directorcontrol
        since 01/2021 · owns less than 5%
      • J•••••• O••••• · Executive Vice President, Chief Financial Officercontrol
        since 01/2021 · owns less than 5%
      • S••••• C••••• D••••• · Chairman Of The Board, President, Chief Executive Officer, Chief Investment Officer, Directorcontrol
        since 01/2021 · owns less than 5%
      • R•••••• D•••• S•••••••• · Director
        since 11/2023 · owns less than 5%
      • R•••• C••••••••• A•••• · Director
        since 11/2023 · owns less than 5%
      • R•••• A•••••• R••• · Director
        since 07/2016 · owns less than 5%
      Entity owners
      • P•• H•••••••• I••• · Sole Shareholder Of Applicant
        direct · owns 75% or more
      • J•••••• F•••••••• I••• · Sole Shareholder
        indirect · owns 75% or more of J•••••• H••••••• L•• · public reporting company
      • J•••••• H••••••• L•• · Sole Shareholder
        indirect · owns 75% or more of P•• H•••••••• I•••
      Related persons
      Schedule D 7.A
      • B••••• L••• I•••••••• C••••••
        real estaten
      • J•••••• N••••••• A•••• M••••••••• L••
        investment adviserbankpooled vehicle sponsornRAUM $246B
      • J•••••• N••••••• L••• •••••••• L••••••
        real estaten
      • J•••••• N••••••• L••• D••••••••• L••
        broker-dealern
      • J•••••• N••••••• L••• I•••••••• C••••••
        real estaten
      • J•••••• N••••••• L••• I•••••••• C•••••• O• N•• Y•••
        real estaten
      • P•• A•••••• C•••••• P••••••• I••• L••
        investment adviserpooled vehicle sponsory
      • P•• A•••••• C•••••• P••••••• I•• L••
        investment adviserpooled vehicle sponsory
      • P•• A•••••• C•••••• P••••••• V• L••
        investment adviserpooled vehicle sponsory
      • P•• A•••••• C•••••• P••••••• V•• L••
        investment adviserpooled vehicle sponsory
      • P•• A•••••• C•••••• P••••••• V••• L••
        investment adviserpooled vehicle sponsory
      • P•• A•••••• C•••••• P••••••• V•••• L••
        investment adviserpooled vehicle sponsorn
      • P•• L••• M••••••••• C•••••• 2• L••
        investment adviseryRAUM $2.7B
      • P•• P••••• C•••••• P•••••••• L••
        investment adviserpooled vehicle sponsory
      • S••••• R••••••••• C•••••• I•• I••
        real estaten
      • S••••• R••••••••• C•••••• L••
        real estaten
      Advisers that list P•• A•••••• I•• as a related person
      Offices
      Schedule D 1.F, the 25 largest
      • , 1 employees
      What changed
      consecutive filings, newest first
      • Other offices · 6 to 5
        Mar 29, 2026 to May 29, 2026
      • Accounts · 59 to 67
        Jan 14, 2026 to Mar 29, 2026
      • Advisory employees · 112 to 117
        Jan 14, 2026 to Mar 29, 2026
      • BD registered reps · 10 to 8
        Jan 14, 2026 to Mar 29, 2026
      • Corporate clients · 0 to 1
        Jan 14, 2026 to Mar 29, 2026
      • Pooled vehicle clients · 23 to 26
        Jan 14, 2026 to Mar 29, 2026
      • Assets in custody · $2.0B to $2.4B
        Jan 14, 2026 to Mar 29, 2026
      • Employees · 212 to 217
        Jan 14, 2026 to Mar 29, 2026
      • Private funds · 8 to 11
        Jan 14, 2026 to Mar 29, 2026
      • Discretionary RAUM · $74B to $93B
        Jan 14, 2026 to Mar 29, 2026
      • HNW RAUM · $874,700 to $1.5M
        Jan 14, 2026 to Mar 29, 2026
      • Non-discretionary RAUM · $481M to $846M
        Jan 14, 2026 to Mar 29, 2026
      • Pension RAUM · $53.4M to $52.5M
        Jan 14, 2026 to Mar 29, 2026
      • Pooled vehicle RAUM · $9.7B to $12B
        Jan 14, 2026 to Mar 29, 2026
      • RAUM · $74B to $94B
        Jan 14, 2026 to Mar 29, 2026
      • Financial planning clients · unset to
        Mar 31, 2025 to Jun 10, 2025
      • Accounts · 57 to 59
        Mar 28, 2024 to Mar 31, 2025
      • Advisory activities · 4 to 5
        Mar 28, 2024 to Mar 31, 2025
      • BD registered reps · 7 to 10
        Mar 28, 2024 to Mar 31, 2025
      • HNW clients · 0 to 1
        Mar 28, 2024 to Mar 31, 2025
      • Pooled vehicle clients · 19 to 23
        Mar 28, 2024 to Mar 31, 2025
      • Assets in custody · $2.4B to $2.0B
        Mar 28, 2024 to Mar 31, 2025
      • Employees · 209 to 212
        Mar 28, 2024 to Mar 31, 2025
      • Other offices · 5 to 6
        Mar 28, 2024 to Mar 31, 2025
      • Private funds · 7 to 8
        Mar 28, 2024 to Mar 31, 2025
      • Discretionary RAUM · $73B to $74B
        Mar 28, 2024 to Mar 31, 2025
      • HNW RAUM · $0 to $874,700
        Mar 28, 2024 to Mar 31, 2025
      • Non-discretionary RAUM · $530M to $481M
        Mar 28, 2024 to Mar 31, 2025
      • Pension RAUM · $116M to $53.4M
        Mar 28, 2024 to Mar 31, 2025
      • Pooled vehicle RAUM · $9.1B to $9.7B
        Mar 28, 2024 to Mar 31, 2025
      • RAUM · $73B to $74B
        Mar 28, 2024 to Mar 31, 2025
      • Accounts · 55 to 57
        Dec 8, 2023 to Mar 28, 2024
      • Assets in custody · $218M to $2.4B
        Dec 8, 2023 to Mar 28, 2024
      • Employees · 217 to 209
        Dec 8, 2023 to Mar 28, 2024
      • Other offices · 4 to 5
        Dec 8, 2023 to Mar 28, 2024
      • Discretionary RAUM · $71B to $73B
        Dec 8, 2023 to Mar 28, 2024
      • Non-discretionary RAUM · $588M to $530M
        Dec 8, 2023 to Mar 28, 2024
      • Pension RAUM · $89.0M to $116M
        Dec 8, 2023 to Mar 28, 2024
      • Pooled vehicle RAUM · $8.2B to $9.1B
        Dec 8, 2023 to Mar 28, 2024
      • RAUM · $72B to $73B
        Dec 8, 2023 to Mar 28, 2024
      Signals
      9 dated events
      • P•• A•••••• I•• reported RAUM $93.8B, up 26% from $74.5B (2026-01-14 to 2026-03-29)
        Mar 29, 2026 · RAUM change · derived
      • O••• B•••••• H••••• (Director) no longer on Schedule A of P•• A•••••• I•• (listed 2023-03-30, absent 2023-07-17)
        Jul 17, 2023 · Control person left · inference
      • Chadwick Paul Myers (Chairman Of The Board, Director) no longer on Schedule A of P•• A•••••• I•• (listed 2022-11-03, absent 2023-03-30)
        Mar 30, 2023 · Control person left · inference
      • P•• A•••••• I•• reported RAUM $79.3B, down 25% from $106.3B (2021-10-14 to 2022-03-29)
        Mar 29, 2022 · RAUM change · derived
      • Bernard Mark Mandich (President, Chief Executive Officer, Director) no longer on Schedule A of P•• A•••••• I•• (listed 2020-03-27, absent 2021-01-25)
        Jan 25, 2021 · Control person left · inference
      • Edward Thomas Barnicle (Executive Vice President, Chief Administrative Officer) no longer on Schedule A of P•• A•••••• I•• (listed 2020-03-27, absent 2021-01-25)
        Jan 25, 2021 · Control person left · inference
      • G•••• D••••••• (Executive Vice President, Chief Financial Officer) no longer on Schedule A of P•• A•••••• I•• (listed 2020-03-27, absent 2021-01-25)
        Jan 25, 2021 · Control person left · inference
      • O••••• J••••• (Executive Vice President, Chief Financial Officer) appeared on Schedule A of P•• A•••••• I••
        Jan 25, 2021 · Control person joined · fact
      • Gerard Anthony Balestrieri (Director, Chief Investment Officer) no longer on Schedule A of P•• A•••••• I•• (listed 2018-06-04, absent 2019-03-28)
        Mar 28, 2019 · Control person left · inference
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Firm profile
      linkedin.com/company/ppm-america-inc-reportedpublic record, Form ADV, Sep 18, 2026
      Website
      PPMA••••••.COMreportedpublic record, Form ADV, Sep 18, 2026
      Principal office phone
      312-634-2500reportedpublic record, Form ADV, May 29, 2026
      Provenance
      Form ADV
      SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
      Advisors
      IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
      Class
      Institutional managerderiveda rule over Items 5.D and 7.A
      RAUM per advisor
      n/aderivedfirm RAUM over the IAPD count; not a book size
      Loaded
      Sep 14, 2026