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
C•••••• C•••••• M••••••••• L••
Latest filing Mar 30, 2026
First filing on the tape Mar 29, 2012 · 18 filings
SEC status approved since May 21, 2004
RAUM
$1.4B
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
23
14 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
7
reported on Schedule D
History
18 filings and snapshots on the tape
RAUM$1.4B as of Mar 30, 2026
Mar 29, 2012$655M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 30, 2026
Mar 28, 20130 then
Employees (5.A)23 as of Mar 30, 2026
Mar 28, 201314 then
Private funds7 as of Mar 30, 2026
Mar 29, 20124 then
RAUM +0.6% over the last fiscal year+11% a year over threeIARs 0 to 0offices 1 to 2
Practice profile
derived from the filing of Mar 30, 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
- $132MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 1.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +0.6%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 pooled vehicles, 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)
- 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)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$1.4B99%
- Charitable organizations$19.9M1.4%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 11reported
- Financial planning clients
- 0reported
- 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=0.99 institutional_share=0.01 related_bd=false related_bank=false bd_reps=0.0derived
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
11 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| C•••••• M•••• P••••••• I•• L••• | Private Equity Fund | $456M | 141 | Mar 26, 2020 |
| C•••••• C••••• O••••••••• F••• I•• L••• | Private Equity Fund | $185M | 37 | Mar 28, 2019 |
| C•••••• M•••• R•••••• F•••• L••• | Private Equity Fund | $164M | 155 | Mar 28, 2019 |
| C•••••• M•••• P••••••• I••• L••• | Private Equity Fund | $155M | 37 | Mar 28, 2024 |
| C•••••• S•••••• S••••••••• M••••• F•••• L••• | Hedge Fund | $144M | 23 | Mar 29, 2012 |
| C•••••• N•••••• R•••••••• F••• I• L• | Private Equity Fund | $16.1M | 32 | Mar 31, 2023 |
| C•••••• L••• S•••• O••••••••• F•••• L•no longer reported | Hedge Fund | $9.3M | 10 | Mar 29, 2012 |
| C•••••• S•••• O••••••••• F•••• L•no longer reported | Hedge Fund | $6.9M | 3 | Mar 29, 2012 |
| C•••••• C••••• O••••••••• O••••••• M••••• F••• I••• L•no longer reported | Hedge Fund | $2.4M | 24 | Mar 28, 2014 |
| C•••••• C••••• O••••••••• O•••••• F••• I••• L•no longer reported | Private Equity Fund | $1.2M | 62 | Mar 28, 2014 |
| C•••••• C••••• O••••••••• F••• I•• L•no longer reported | Hedge Fund | $246,182 | 88 | Mar 29, 2012 |
Owners and control persons
Schedule A and B, latest filing
- M••••• T•••••• G••••• · President, Chief Operating Officer & Board Membercontrolsince 11/2007 · owns less than 5%
- P•••••• R••••••• C•••••• · Chief Manager, Member & Board Membercontrolsince 07/1998 · owns 75% or more
- S••••••••• R••••••• A•••••• · Chief Financial Officer And Chief Compliance Officercontrolsince 12/2022 · owns less than 5%
Related persons
Schedule D 7.A
No related person reported.
Offices
Schedule D 1.F, the 25 largest
- Nashville, TN6 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- custody status changedChange between filings · filing Mar 30, 2026custody of client assets (Item 9.A): no on the filing of 2025-10-14, yes on the filing of 2026-03-30peers: asset managers, $1B to $5B (1,506)
What changed
consecutive filings, newest first
- Accounts · 10 to 11Oct 14, 2025 to Mar 30, 2026
- Advisory employees · 10 to 14Oct 14, 2025 to Mar 30, 2026
- Pooled vehicle clients · 9 to 10Oct 14, 2025 to Mar 30, 2026
- Assets in custody · unset to 0.0Oct 14, 2025 to Mar 30, 2026
- Custody of client assets · false to trueOct 14, 2025 to Mar 30, 2026
- Employees · 19 to 23Oct 14, 2025 to Mar 30, 2026
- Other offices · 1 to 2Oct 14, 2025 to Mar 30, 2026
- Private funds · 6 to 7Oct 14, 2025 to Mar 30, 2026
- Discretionary RAUM · $1.4B to $1.4BOct 14, 2025 to Mar 30, 2026
- Pooled vehicle RAUM · $1.4B to $1.4BOct 14, 2025 to Mar 30, 2026
- RAUM · $1.4B to $1.4BOct 14, 2025 to Mar 30, 2026
- Related adviser · false to trueOct 14, 2025 to Mar 30, 2026
- Financial planning clients · 0 to 0Mar 31, 2025 to Oct 14, 2025
- Advisory employees · 11 to 10Mar 28, 2024 to Mar 31, 2025
- Employees · 21 to 19Mar 28, 2024 to Mar 31, 2025
- Discretionary RAUM · $1.1B to $1.4BMar 28, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $1.1B to $1.4BMar 28, 2024 to Mar 31, 2025
- RAUM · $1.1B to $1.4BMar 28, 2024 to Mar 31, 2025
- Accounts · 8 to 10Mar 31, 2023 to Mar 28, 2024
- Pooled vehicle clients · 7 to 9Mar 31, 2023 to Mar 28, 2024
- Employees · 19 to 21Mar 31, 2023 to Mar 28, 2024
- Private funds · 5 to 6Mar 31, 2023 to Mar 28, 2024
- Discretionary RAUM · $1.0B to $1.1BMar 31, 2023 to Mar 28, 2024
- Pooled vehicle RAUM · $1.0B to $1.1BMar 31, 2023 to Mar 28, 2024
- RAUM · $1.0B to $1.1BMar 31, 2023 to Mar 28, 2024
- Accounts · 9 to 8Dec 8, 2022 to Mar 31, 2023
- Advisory employees · 13 to 11Dec 8, 2022 to Mar 31, 2023
- Pooled vehicle clients · 8 to 7Dec 8, 2022 to Mar 31, 2023
- Employees · 16 to 19Dec 8, 2022 to Mar 31, 2023
- Private funds · 6 to 5Dec 8, 2022 to Mar 31, 2023
- Discretionary RAUM · $1.0B to $1.0BDec 8, 2022 to Mar 31, 2023
- Pooled vehicle RAUM · $1.0B to $1.0BDec 8, 2022 to Mar 31, 2023
- RAUM · $1.0B to $1.0BDec 8, 2022 to Mar 31, 2023
- Other offices · 0 to 1Mar 30, 2022 to Dec 8, 2022
- Advisory employees · 11 to 13Mar 29, 2021 to Mar 30, 2022
- BD registered reps · 1 to 0Mar 29, 2021 to Mar 30, 2022
- Financial planning clients · unset to 0Mar 29, 2021 to Mar 30, 2022
- State-registered IARs · 1 to 0Mar 29, 2021 to Mar 30, 2022
- Discretionary RAUM · $951M to $1.0BMar 29, 2021 to Mar 30, 2022
- Pooled vehicle RAUM · $948M to $1.0BMar 29, 2021 to Mar 30, 2022
Signals
6 dated events
- C•••••• C•••••• M••••••••• L•• reported RAUM $1.4B, up 26% from $1.1B (2024-03-28 to 2025-03-31)Mar 31, 2025 · RAUM change · derived
- Reeder Richard Horton (Chief Financial Officer And Chief Compliance Officer) no longer on Schedule A of C•••••• C•••••• M••••••••• L•• (listed 2022-03-30, absent 2022-12-08)Dec 8, 2022 · Control person left · inference
- Anthony Richard Schnuerer (Chief Financial Officer And Chief Compliance Officer) appeared on Schedule A of C•••••• C•••••• M••••••••• L••Dec 8, 2022 · Control person joined · fact
- Alan Mark Bourgeois (Senior Managing Director And Vice Chairman Of The Board) no longer on Schedule A of C•••••• C•••••• M••••••••• L•• (listed 2021-03-29, absent 2022-03-30)Mar 30, 2022 · Control person left · inference
- Alan Mark Bourgeois (Senior Managing Director And Vice Chairman Of The Board) appeared on Schedule A of C•••••• C•••••• M••••••••• L••Mar 29, 2021 · Control person joined · fact
- C•••••• C•••••• M••••••••• L•• reported RAUM $683.8M, up 36% from $502.7M (2018-03-30 to 2019-03-28)Mar 28, 2019 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
- C•••••• C•••••• M••••••••• L•• · Independent Sponsorsshared crd · capital_provider
- C•••••• C•••••• M••••••••• L•• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/courage-capital-management/aboutreportedpublic record, Form ADV, Sep 18, 2026
- Website
- couragemusicpartners.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 615-369-0110reportedpublic record, Form ADV, Mar 30, 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