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.
SEC-registered adviser
K2/D&S Management Co., L.L.C.
Latest filing Sep 16, 2026
First filing on the tape Mar 30, 2012 · 88 filings
SEC status approved since Mar 11, 2003
RAUM
$6.5B
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
30
10 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
88 filings and snapshots on the tape
RAUM$6.5B as of Aug 27, 2026
Mar 30, 2012$10B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Aug 27, 2026
Apr 1, 20130 then
Employees (5.A)30 as of Aug 27, 2026
Apr 1, 2013115 then
Private funds29 as of Aug 27, 2026
Mar 30, 201242 then
RAUM -31% over the last fiscal year-14% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Sep 16, 2026; 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
- $90.8MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 34%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
- -31%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 vehicles, portfolio management for investment companies, selection of other advisers, otherreportedItem 5.G
- Custody
- yesreportedItem 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)
- has custody of client securities (9.A.1.b)
- 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 hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$3.6B55%
- Pension and profit-sharing plans$2.2B34%
- Investment companies$533M8.1%
- Corporations and businesses$151M2.3%
- Charitable organizations$32.1M0.5%
- State and municipal entities$2.1M0.0%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- 18reported
- Charitable clients
- 1reported
- Accounts
- 72reported
- Financial planning clients
- n/areported
- Wrap fee programs
- noreported
- Custody of client assets
- $0 for 0 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=0.63 institutional_share=0.34 related_bd=true related_bank=true bd_reps=2.0 bank_owner=falsederived
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
111 reported on Schedule D 7.B.(1)
All funds of K2/D&S Management Co., L.L.C.
Owners and control persons
Schedule A and B, latest filing
- Andrew Kandiew · Chief Operating Officercontrolsince 01/2024 · owns less than 5%
- Mangiulli Robin Ostlund · Chief Compliance Officersince 04/2024 · owns less than 5%
Entity owners
- K2 Advisors Holdings, LLC · 100% Ownerdirect · owns 75% or more
- Franklin Resources, Inc. · Parent Organization: 100%indirect · owns 75% or more of Franklin Templeton Institutional, LLC · public reporting company
- Franklin Templeton Institutional, LLC · 100% Ownerindirect · owns 75% or more of K2 Advisors Holdings, LLC
- K2 Advisors Holdings, LLC · 100% Ownerindirect · owns 75% or more of K2 Advisors Subsidiary Holdings, LLC
Related persons
Schedule D 7.A
- Benefit Street Partners Limitedinvestment adviserbanknRAUM $23B
- Bsp Ny LLCinvestment adviserbanknRAUM $14B
- Benefit Street Partners L.L.C.investment advisernRAUM $28B
- Brandywine Global Investment Management (Asia) Pte. Ltdinvestment advisern
- Brandywine Global Investment Management, LLCinvestment adviserbankpooled vehicle sponsornRAUM $65B
- Bsp Clo Management LLCinvestment advisernRAUM $12B
- Clarion Partners Emea Limitedbroker-dealern
- Clarion Partners Europe (U.K.) Limitedinvestment advisern
- Clarion Partners Europe Limitedinvestment advisern
- Clarion Partners Securities, LLCbroker-dealern
- Clarion Partnersinvestment advisernRAUM $74B
- Clearbridge Investments (North America) Pty Limitedinvestment advisernRAUM $2.2B
- Clearbridge Investments Limitedinvestment advisern
- Clearbridge Investments, LLCinvestment adviserbankpooled vehicle sponsornRAUM $185B
- Clearbridge Rare Infrastructure International Pty Limitedinvestment advisern
- Darby Asia Investors (Hk), Ltd.investment advisern
- Darby Asia Investors, Ltd.investment advisern
- Darby Asia Opportunities Fund III Management Co., Ltd.pooled vehicle sponsorn
- Darby Latin American Investors, Ltd.pooled vehicle sponsorn
- Darby Overseas Partners, L.P.investment adviserbanknRAUM $154M
- Fiduciary Trust Company Of Canadainvestment adviserbankn
- Fiduciary Trust International Limitedinvestment adviserbankn
- Fiduciary Trust International Of The Southbankn
- Fiduciary Trust International, LLCinvestment advisernRAUM $7.7B
- Franklin Advisers, Inc.investment adviserbanknRAUM $509B
- Franklin Advisory Services, LLCinvestment advisernRAUM $14B
- Franklin Bsp Capital Adviser LLCinvestment adviserbanknRAUM $4.2B
- Franklin Bsp Lending Adviser, L.L.C.investment advisernRAUM $3.0B
- Franklin Distributors, LLCbroker-dealern
- Franklin Mdp Gp, LLCpooled vehicle sponsorn
Advisers that list K2/D&S Management Co., L.L.C. as a related person
Offices
Schedule D 1.F, the 25 largest
- New York, NY9 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- high institutional concentrationStatic outlier · filing Sep 16, 2026institutional share of RAUM of 34% against a peer median of 0% (684 comparable advisers, 99.0th percentile, 11.6 robust deviations)peers: asset managers, $5B to $20B (684) · 99% percentile
- RAUM down 25 %Change between filings · filing Apr 20, 2026RAUM (Item 5.F) moved from $9,436,934,450 to $6,534,834,785 (-31.0%) between the annual amendments of 2025-03-07 and 2026-04-20; the peer median change was +13.0% (631 comparable advisers, 2.0th percentile of changes)peers: asset managers, $5B to $20B (631) · 2.2% percentile
What changed
consecutive filings, newest first
- Financial planning clients · to unsetAug 27, 2026 to Sep 16, 2026
- Private funds · 29 to unsetAug 27, 2026 to Sep 16, 2026
- Succession · false to unsetAug 27, 2026 to Sep 16, 2026
- Private funds · 28 to 29Apr 20, 2026 to Aug 27, 2026
- Private funds · 35 to 28Feb 26, 2026 to Apr 20, 2026
- Accounts · 76 to 72Oct 2, 2025 to Dec 23, 2025
- Advisory employees · 15 to 10Oct 2, 2025 to Dec 23, 2025
- BD registered reps · 3 to 2Oct 2, 2025 to Dec 23, 2025
- Pooled vehicle clients · 54 to 50Oct 2, 2025 to Dec 23, 2025
- Employees · 38 to 30Oct 2, 2025 to Dec 23, 2025
- Discretionary RAUM · $9.4B to $6.5BOct 2, 2025 to Dec 23, 2025
- Pension RAUM · $2.3B to $2.2BOct 2, 2025 to Dec 23, 2025
- Pooled vehicle RAUM · $6.4B to $3.6BOct 2, 2025 to Dec 23, 2025
- RAUM · $9.4B to $6.5BOct 2, 2025 to Dec 23, 2025
- Private funds · 34 to 35Jul 29, 2025 to Aug 29, 2025
- Financial planning clients · unset to Mar 7, 2025 to Jul 29, 2025
- Accounts · 73 to 76Aug 27, 2024 to Dec 20, 2024
- Advisory employees · 21 to 15Aug 27, 2024 to Dec 20, 2024
- BD registered reps · 4 to 3Aug 27, 2024 to Dec 20, 2024
- Pooled vehicle clients · 51 to 54Aug 27, 2024 to Dec 20, 2024
- Assets in custody · $1.7B to $0Aug 27, 2024 to Dec 20, 2024
- Employees · 55 to 38Aug 27, 2024 to Dec 20, 2024
- Private funds · 37 to 34Aug 27, 2024 to Dec 20, 2024
- Discretionary RAUM · $9.5B to $9.4BAug 27, 2024 to Dec 20, 2024
- Pension RAUM · $2.2B to $2.3BAug 27, 2024 to Dec 20, 2024
- Pooled vehicle RAUM · $6.4B to $6.4BAug 27, 2024 to Dec 20, 2024
- RAUM · $9.5B to $9.4BAug 27, 2024 to Dec 20, 2024
- Private funds · 35 to 37Jun 24, 2024 to Aug 27, 2024
- Private funds · 34 to 35May 8, 2024 to May 27, 2024
- Accounts · 76 to 73Aug 29, 2023 to Dec 20, 2023
- Advisory employees · 25 to 21Aug 29, 2023 to Dec 20, 2023
- BD registered reps · 5 to 4Aug 29, 2023 to Dec 20, 2023
- Pooled vehicle clients · 52 to 51Aug 29, 2023 to Dec 20, 2023
- Employees · 60 to 55Aug 29, 2023 to Dec 20, 2023
- Private funds · 37 to 34Aug 29, 2023 to Dec 20, 2023
- Discretionary RAUM · $10B to $9.5BAug 29, 2023 to Dec 20, 2023
- Pension RAUM · $2.3B to $2.2BAug 29, 2023 to Dec 20, 2023
- Pooled vehicle RAUM · $5.6B to $6.4BAug 29, 2023 to Dec 20, 2023
- RAUM · $10B to $9.5BAug 29, 2023 to Dec 20, 2023
- Private funds · 34 to 37Jan 3, 2023 to Feb 22, 2023
Signals
11 dated events
- K2/D&S Management Co., L.L.C. reported RAUM $6.5B, down 31% from $9.4B (2025-10-02 to 2025-12-23)Dec 23, 2025 · RAUM change · derived
- Andrew Kandiew (Chief Operating Officer) appeared on Schedule A of K2/D&S Management Co., L.L.C.Jan 8, 2024 · Control person joined · fact
- Roger Bryan Martoken (Managing Director, Chief Operating Officer) no longer on Schedule A of K2/D&S Management Co., L.L.C. (listed 2023-12-20, absent 2024-01-08)Jan 8, 2024 · Control person left · inference
- Roger Bryan Martoken (Managing Director, Chief Operating Officer) appeared on Schedule A of K2/D&S Management Co., L.L.C.Mar 8, 2023 · Control person joined · fact
- Joseph David Manlowe (Senior Managing Director, Chief Operating Officer) no longer on Schedule A of K2/D&S Management Co., L.L.C. (listed 2023-02-22, absent 2023-03-08)Mar 8, 2023 · Control person left · inference
- Joseph Shane Clifford (Senior Managing Director, Alternative Strategies) no longer on Schedule A of K2/D&S Management Co., L.L.C. (listed 2023-02-22, absent 2023-03-08)Mar 8, 2023 · Control person left · inference
- Joseph David Manlowe (Senior Managing Director, Chief Operating Officer) appeared on Schedule A of K2/D&S Management Co., L.L.C.Dec 22, 2020 · Control person joined · fact
- Joseph Shane Clifford (Senior Managing Director, Alternative Strategies) appeared on Schedule A of K2/D&S Management Co., L.L.C.Dec 22, 2020 · Control person joined · fact
- Sterling Madison Gulley (Executive Vice President - Alternative Strategies) no longer on Schedule A of K2/D&S Management Co., L.L.C. (listed 2020-11-17, absent 2020-12-22)Dec 22, 2020 · Control person left · inference
- Charles David Saunders (Director) no longer on Schedule A of K2/D&S Management Co., L.L.C. (listed 2019-02-20, absent 2019-04-10)Apr 10, 2019 · Control person left · inference
- Sterling Madison Gulley (Executive Vice President - Alternative Strategies) appeared on Schedule A of K2/D&S Management Co., L.L.C.Apr 10, 2019 · Control person joined · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Website
- K2ADVISORS.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 203-348-5252reportedpublic record, Form ADV, Sep 16, 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
- Asset manager (funds and pooled vehicles)deriveda 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