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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Former SEC-registered adviser

H••••••• C•••••• M••••••••• L•••

Former SEC-registered adviserDallas, TexasCRD 110126SEC 801-54874websiteIAPD
Latest filing Mar 29, 2024
First filing on the tape Mar 29, 2012 · 52 filings
SEC status approved since Sep 12, 1997
RAUM
$127M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
12
6 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
4
$196M gross assets
History
52 filings and snapshots on the tape
RAUM$127M as of Mar 29, 2024
Mar 29, 2012$20B then
HNW client RAUM$0 as of Mar 29, 2024
Mar 30, 2018$0 then
State-registered IARs (5.B.3)0 as of Mar 29, 2024
Apr 1, 20134 then
Employees (5.A)12 as of Mar 29, 2024
Apr 1, 2013114 then
Private funds4 as of Mar 29, 2024
Mar 29, 20129 then
RAUM -57% over the last fiscal year-58% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 29, 2024; every figure names its basis
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
unknownderivedHNW RAUM over HNW clients
Average account
$5.5MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
1.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived2 offices incl. principal (1.F.5)
RAUM growth, one year
-57%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, performance-basedreportedItem 5.E
Advisory activities
portfolio management for businesses and institutions, portfolio management for pooled vehiclesreportedItem 5.G
Custody
$33.5M, 3 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)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$124M98%
  • State and municipal entities$2.3M1.8%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
23reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
$33.5M for 3 clientsreported
Compensation
% of AUM, performancereported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Joined, latest
none on the tape
    Every departureEvery arrival
    Private funds
    17 reported on Schedule D 7.B.(1)
    FundTypeGross assetsOwnersFirst reported
    H••••••• C••••• O••••••••• C••• L••no longer reportedSecuritized Asset Fund$1.0B2May 14, 2012
    A••• C•• 2••••• L•••no longer reportedSecuritized Asset Fund$348M1Mar 30, 2018
    C••••••••• D•• F•••• L•no longer reportedOther Private Fund$334M4May 14, 2012
    S••••••••• H••••••••• P•••••• E••••• F•••Private Equity Fund$95.0M7Mar 30, 2018
    H••••••• C•• F••••••• L•••no longer reportedSecuritized Asset Fund$82.1M9Apr 20, 2017
    H••••••• S••••• E••••• M••••• F•••• L•••no longer reportedHedge Fund$64.4M5Mar 29, 2012
    H••••••• C•• O••••••••• M••••• F•••• L•••no longer reportedHedge Fund$49.5M5Mar 29, 2012
    H••••••• M•••• S••••••• C••••• F•••• L•••Hedge Fund$48.9M3Mar 29, 2012
    H••••••• D•••••• I••••• M••••• F•••• L•••no longer reportedHedge Fund$48.4M9Mar 31, 2014
    H••••••• A•••••••• R••••••• O••••••••• M••••• F•••• L•••no longer reportedHedge Fund$31.2M31Mar 30, 2018
    H••••••• R••••••••• C•••••• P••••••• M•••••• L•Private Equity Fund$28.5M6Mar 29, 2012
    H••••••• R••••••••• C•••••• P•••••••• L•••Private Equity Fund$23.3M5Mar 29, 2012
    H••••••• P••••••••• M••••• F•••• L•••no longer reportedHedge Fund$22.5M2Mar 30, 2017
    H••••••• C••••• S••••••••• M••••• F•••• L•••no longer reportedHedge Fund$21.6M119Mar 29, 2012
    H••••••• O••••••• P•••••••• L•••no longer reportedHedge Fund$11.6M1Mar 29, 2012
    H••••••• G••••• P••••••• L•••no longer reportedHedge Fund$7.0M2Mar 30, 2017
    H••••••• E••••• F•••• F•••• L•••no longer reportedHedge Fund$4.0M3Mar 29, 2012
    Owners and control persons
    Schedule A and B, latest filing
    • K•••• D••••• K•••• · Chief Financial Officer And Chief Operating Officercontrol
      since 02/2021 · owns less than 5%
    • S••••• J••••• P•••••• · Chief Executive Officer And Chief Restructuring Officercontrol
      since 03/2020 · owns less than 5%
    • S••••• J••••• P•••••• · C••••••• Trusteecontrol
      since 08/2021 · owns F of H••••••• C••••••• T••••
    • S••••••• T•••••• J••••• · Chief Compliance Officer And General Counsel
      since 10/2011 · owns less than 5%
    Entity owners
    • H•••• G• L•• · General Partner
      direct · owns less than 5%
    • H••••••• C••••••• T•••• · Sole L•••••• Partner
      direct · owns 75% or more
    • H••••••• C••••••• T•••• · Managing Member
      indirect · owns 75% or more of H•••• G• L••
    Related persons
    Schedule D 7.A
    • H••••••• C•••••• M••••••••• K•••• L••••••
      pooled vehicle sponsorn
    • H••••••• M•••• S••••••• C••••• F••• G•• L•••
      pooled vehicle sponsorn
    • H••••••• R••••••••• C•••••• P••••••• G•• L••
      pooled vehicle sponsorn
    Advisers that list H••••••• C•••••• M••••••••• L••• as a related person
    Offices
    Schedule D 1.F, the 25 largest
    • Seoul, Korea, South4 employees
    What changed
    consecutive filings, newest first
    • Accounts · 25 to 23
      Apr 25, 2023 to Mar 29, 2024
    • Pooled vehicle clients · 24 to 22
      Apr 25, 2023 to Mar 29, 2024
    • Assets in custody · $101M to $33.5M
      Apr 25, 2023 to Mar 29, 2024
    • Discretionary RAUM · $297M to $127M
      Apr 25, 2023 to Mar 29, 2024
    • Pooled vehicle RAUM · $272M to $124M
      Apr 25, 2023 to Mar 29, 2024
    • RAUM · $297M to $127M
      Apr 25, 2023 to Mar 29, 2024
    • Assets in custody · $359M to $101M
      Jun 13, 2022 to Mar 31, 2023
    • Discretionary RAUM · $1.3B to $297M
      Jun 13, 2022 to Mar 31, 2023
    • Pooled vehicle RAUM · $1.2B to $272M
      Jun 13, 2022 to Mar 31, 2023
    • RAUM · $1.3B to $297M
      Jun 13, 2022 to Mar 31, 2023
    • Accounts · 29 to 25
      Aug 24, 2021 to Apr 4, 2022
    • Advisory employees · 5 to 6
      Aug 24, 2021 to Apr 4, 2022
    • Pooled vehicle clients · 27 to 24
      Aug 24, 2021 to Apr 4, 2022
    • Assets in custody · $304M to $359M
      Aug 24, 2021 to Apr 4, 2022
    • Employees · 13 to 12
      Aug 24, 2021 to Apr 4, 2022
    • Discretionary RAUM · $1.7B to $1.3B
      Aug 24, 2021 to Apr 4, 2022
    • Pooled vehicle RAUM · $1.6B to $1.2B
      Aug 24, 2021 to Apr 4, 2022
    • RAUM · $1.7B to $1.3B
      Aug 24, 2021 to Apr 4, 2022
    • Related bank · true to false
      Aug 24, 2021 to Apr 4, 2022
    • Accounts · 36 to 29
      Mar 18, 2021 to Mar 30, 2021
    • Advisory employees · 16 to 5
      Mar 18, 2021 to Mar 30, 2021
    • BD registered reps · 4 to 0
      Mar 18, 2021 to Mar 30, 2021
    • Charity clients · 1 to 0
      Mar 18, 2021 to Mar 30, 2021
    • Pooled vehicle clients · 32 to 27
      Mar 18, 2021 to Mar 30, 2021
    • Assets in custody · $322M to $304M
      Mar 18, 2021 to Mar 30, 2021
    • Employees · 91 to 13
      Mar 18, 2021 to Mar 30, 2021
    • Private funds · 5 to 4
      Mar 18, 2021 to Mar 30, 2021
    • Discretionary RAUM · $2.2B to $1.7B
      Mar 18, 2021 to Mar 30, 2021
    • Non-discretionary RAUM · $976M to $0
      Mar 18, 2021 to Mar 30, 2021
    • Pooled vehicle RAUM · $2.2B to $1.6B
      Mar 18, 2021 to Mar 30, 2021
    • RAUM · $3.2B to $1.7B
      Mar 18, 2021 to Mar 30, 2021
    • Related broker-dealer · true to false
      Mar 18, 2021 to Mar 30, 2021
    • Private funds · 7 to 5
      Oct 29, 2020 to Mar 18, 2021
    • Accounts · 39 to 36
      Aug 14, 2020 to Oct 29, 2020
    • Advisory employees · 22 to 16
      Aug 14, 2020 to Oct 29, 2020
    • Pooled vehicle clients · 34 to 32
      Aug 14, 2020 to Oct 29, 2020
    • Assets in custody · $641M to $322M
      Aug 14, 2020 to Oct 29, 2020
    • Employees · 98 to 91
      Aug 14, 2020 to Oct 29, 2020
    • State-registered IARs · 1 to 0
      Aug 14, 2020 to Oct 29, 2020
    • Other offices · 2 to 1
      Aug 14, 2020 to Oct 29, 2020
    Signals
    18 dated events
    • H••••••• C•••••• M••••••••• L••• no longer on the SEC adviser roster (last listed 2025-02-03, RAUM $126.7M)
      Mar 6, 2025 · Left the SEC roster · derived
    • H••••••• C•••••• M••••••••• L••• reported RAUM $126.7M, down 57% from $296.9M (2023-04-25 to 2024-03-29)
      Mar 29, 2024 · RAUM change · derived
    • H••••••• C•••••• M••••••••• L••• reported RAUM $296.9M, down 77% from $1.3B (2022-06-13 to 2023-03-31)
      Mar 31, 2023 · RAUM change · derived
    • Nathan L••••••• T••••••• (Trustee) no longer on Schedule A of H••••••• C•••••• M••••••••• L••• (listed 2021-03-30, absent 2021-08-24)
      Aug 24, 2021 · Control person left · inference
    • Marie Nancy Dondero (Trustee) no longer on Schedule A of H••••••• C•••••• M••••••••• L••• (listed 2021-03-30, absent 2021-08-24)
      Aug 24, 2021 · Control person left · inference
    • William John Honis (Trustee) no longer on Schedule A of H••••••• C•••••• M••••••••• L••• (listed 2021-03-30, absent 2021-08-24)
      Aug 24, 2021 · Control person left · inference
    • Stephen John Dubel (Director) no longer on Schedule A of H••••••• C•••••• M••••••••• L••• (listed 2021-03-30, absent 2021-08-24)
      Aug 24, 2021 · Control person left · inference
    • F••••• R•••••• N•••• (Director) no longer on Schedule A of H••••••• C•••••• M••••••••• L••• (listed 2021-03-30, absent 2021-08-24)
      Aug 24, 2021 · Control person left · inference
    • H••••••• C•••••• M••••••••• L••• reported RAUM $1.7B, down 47% from $3.2B (2021-03-18 to 2021-03-30)
      Mar 30, 2021 · RAUM change · derived
    • Byron Scott Ellington (Chief Legal Officer, General Counsel And Secretary) no longer on Schedule A of H••••••• C•••••• M••••••••• L••• (listed 2021-03-18, absent 2021-03-30)
      Mar 30, 2021 · Control person left · inference
    • George Frank Waterhouse (Treasurer) no longer on Schedule A of H••••••• C•••••• M••••••••• L••• (listed 2021-03-18, absent 2021-03-30)
      Mar 30, 2021 · Control person left · inference
    • K•••• D•••• K••• (Chief Financial Officer And Chief Operating Officer) appeared on Schedule A of H••••••• C•••••• M••••••••• L•••
      Mar 30, 2021 · Control person joined · fact
    • H••••••• C•••••• M••••••••• L••• reported RAUM $3.2B, down 30% from $4.6B (2020-08-14 to 2020-10-29)
      Oct 29, 2020 · RAUM change · derived
    • P•••••• J•••• S•••• (Director) appeared on Schedule A of H••••••• C•••••• M••••••••• L•••
      Mar 30, 2020 · Control person joined · fact
    • Stephen John Dubel (Director) appeared on Schedule A of H••••••• C•••••• M••••••••• L•••
      Mar 30, 2020 · Control person joined · fact
    • F••••• R•••••• N•••• (Director) appeared on Schedule A of H••••••• C•••••• M••••••••• L•••
      Mar 30, 2020 · Control person joined · fact
    • Blackwell Lee Parker (Assistant Secretary) no longer on Schedule A of H••••••• C•••••• M••••••••• L••• (listed 2020-01-21, absent 2020-03-30)
      Mar 30, 2020 · Control person left · inference
    • H••••••• C•••••• M••••••••• L••• reported RAUM $5.5B, down 34% from $8.3B (2018-10-17 to 2019-03-29)
      Mar 29, 2019 · RAUM change · derived
    Across DFX
    shared identifiers only, never a name match
    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
    Former SEC-registered adviserderiveda 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