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••••• C••••••• L••

Asset manager (funds and pooled vehicles)West Conshohocken, PennsylvaniaCRD 138436SEC 801-65996websiteIAPD
Latest filing Mar 26, 2026
First filing on the tape Mar 30, 2012 · 21 filings
SEC status approved since Jan 27, 2006
RAUM
$491M
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
6
3 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
3
reported on Schedule D
History
21 filings and snapshots on the tape
RAUM$491M as of Mar 26, 2026
Mar 30, 2012$1.1B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 26, 2026
Mar 30, 20120 then
Employees (5.A)6 as of Mar 26, 2026
Mar 27, 201310 then
Private funds3 as of Mar 26, 2026
Mar 30, 201213 then
RAUM -11% over the last fiscal year-2.4% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 26, 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
$164MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%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
-11%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, selection of other advisersreportedItem 5.G
Custody
$491M, 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)
  • 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$491M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
3reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$491M for 3 clientsreported
Compensation
% of AUM, performancereported
Class basis
private_client_share=0.0 fund_share=1.0 institutional_share=0.0 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
      17 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      P••••• C•••••• F•••• L•••Hedge Fund$161M55Mar 30, 2012
      P••••• C•••••• E••••••••• F•••• L•••Hedge Fund$155M24Mar 30, 2012
      P••••• C•••••• T••••••• L•••Hedge Fund$145M19Mar 30, 2012
      P••••• C•••••• I••••••••• F•••• L•••Hedge Fund$81.0M46Mar 30, 2012
      P••••• C•••••• E••••• F•••• L•••no longer reportedHedge Fund$16.7M11Mar 30, 2012
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• A•Private Equity Fund$1.2M4Mar 30, 2012
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• H•Private Equity Fund$1.0M3Mar 30, 2012
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• I•Private Equity Fund$496,5835Mar 27, 2013
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• J•Private Equity Fund$353,0752Mar 30, 2020
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• J•Private Equity Fund$295,5577Mar 30, 2020
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• G•Private Equity Fund$142,7219Mar 30, 2012
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• J•Private Equity Fund$66,7173Mar 30, 2020
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• B•no longer reportedPrivate Equity Fund$29,37810Mar 30, 2012
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• F•no longer reportedPrivate Equity Fund$20,96425Mar 30, 2012
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• B•no longer reportedPrivate Equity Fund$10,1775Mar 30, 2012
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• D•Private Equity Fund$05Mar 30, 2012
      P••••• C•••••• P•••••• E••••• F•••• L••• • S••••• C•Real Estate Fund$04Mar 30, 2012
      Owners and control persons
      Schedule A and B, latest filing
      • B••••••• J••••• T••••• · Vice President And Chief Operating Officercontrol
        since 07/2014 · owns less than 5%
      • B••••••••• J•••• C•••••• · Partnercontrol
        since 06/2005 · owns 25% to 50%
      • D•••••• B••••• C••••••••• · Chief Compliance Officercontrol
        since 03/2023 · owns less than 5%
      • R•••••• C•••••••• J••• · Partnercontrol
        since 09/2022 · owns 10% to 25%
      • W•••••• R••••••• B•••• · Partnercontrol
        since 07/2002 · owns 25% to 50%
      Related persons
      Schedule D 7.A
      • P••••• C•••••• G•• L•••
        pooled vehicle sponsory
      Offices
      Schedule D 1.F, the 25 largest
      • New York, NY2 employees
      ADV anomalies
      1 against comparable advisers; where to look, not conclusions
      • custody status changedChange between filings · filing Mar 26, 2026
        custody of client assets (Item 9.A): no on the filing of 2025-03-28, yes on the filing of 2026-03-26
        peers: asset managers, $100M to $500M (1,568)
      What changed
      consecutive filings, newest first
      • Accounts · 6 to 3
        Mar 28, 2025 to Mar 26, 2026
      • Advisory employees · 4 to 3
        Mar 28, 2025 to Mar 26, 2026
      • Pooled vehicle clients · 6 to 3
        Mar 28, 2025 to Mar 26, 2026
      • Assets in custody · unset to 491129928.0
        Mar 28, 2025 to Mar 26, 2026
      • Custody of client assets · false to true
        Mar 28, 2025 to Mar 26, 2026
      • Private funds · 13 to 3
        Mar 28, 2025 to Mar 26, 2026
      • Discretionary RAUM · $551M to $491M
        Mar 28, 2025 to Mar 26, 2026
      • Pooled vehicle RAUM · $551M to $491M
        Mar 28, 2025 to Mar 26, 2026
      • RAUM · $551M to $491M
        Mar 28, 2025 to Mar 26, 2026
      • Financial planning clients · unset to
        Mar 28, 2024 to Mar 28, 2025
      • Discretionary RAUM · $546M to $551M
        Mar 28, 2024 to Mar 28, 2025
      • Pooled vehicle RAUM · $546M to $551M
        Mar 28, 2024 to Mar 28, 2025
      • RAUM · $546M to $551M
        Mar 28, 2024 to Mar 28, 2025
      • Advisory employees · 1 to 4
        Mar 31, 2023 to Mar 28, 2024
      • Employees · 3 to 6
        Mar 31, 2023 to Mar 28, 2024
      • Discretionary RAUM · $528M to $546M
        Mar 31, 2023 to Mar 28, 2024
      • Pooled vehicle RAUM · $528M to $546M
        Mar 31, 2023 to Mar 28, 2024
      • RAUM · $528M to $546M
        Mar 31, 2023 to Mar 28, 2024
      • Other offices · 0 to 1
        Oct 6, 2022 to Mar 31, 2023
      • Discretionary RAUM · $686M to $528M
        Oct 6, 2022 to Mar 31, 2023
      • Pooled vehicle RAUM · $686M to $528M
        Oct 6, 2022 to Mar 31, 2023
      • RAUM · $686M to $528M
        Oct 6, 2022 to Mar 31, 2023
      • Discretionary RAUM · $537M to $686M
        Mar 31, 2021 to Mar 31, 2022
      • Pooled vehicle RAUM · $537M to $686M
        Mar 31, 2021 to Mar 31, 2022
      • RAUM · $537M to $686M
        Mar 31, 2021 to Mar 31, 2022
      • Employees · 4 to 3
        Mar 30, 2020 to Mar 31, 2021
      • Discretionary RAUM · $506M to $537M
        Mar 30, 2020 to Mar 31, 2021
      • Pooled vehicle RAUM · $506M to $537M
        Mar 30, 2020 to Mar 31, 2021
      • RAUM · $506M to $537M
        Mar 30, 2020 to Mar 31, 2021
      • Private funds · 10 to 13
        Mar 29, 2019 to Mar 30, 2020
      • Discretionary RAUM · $382M to $506M
        Mar 29, 2019 to Mar 30, 2020
      • Pooled vehicle RAUM · $382M to $506M
        Mar 29, 2019 to Mar 30, 2020
      • RAUM · $382M to $506M
        Mar 29, 2019 to Mar 30, 2020
      • Discretionary RAUM · $412M to $382M
        Mar 29, 2018 to Mar 29, 2019
      • Pooled vehicle RAUM · $412M to $382M
        Mar 29, 2018 to Mar 29, 2019
      • RAUM · $412M to $382M
        Mar 29, 2018 to Mar 29, 2019
      • Accounts · 7 to 6
        Mar 31, 2017 to Mar 29, 2018
      • Pooled vehicle clients · unset to 6.0
        Mar 31, 2017 to Mar 29, 2018
      • Other offices · unset to 0.0
        Mar 31, 2017 to Mar 29, 2018
      • Private funds · 11 to 10
        Mar 31, 2017 to Mar 29, 2018
      Signals
      5 dated events
      • Christopher Peter Morse (Partner) no longer on Schedule A of P••••• C••••••• L•• (listed 2022-10-06, absent 2023-03-31)
        Mar 31, 2023 · Control person left · inference
      • Christopher Brian Dillon (Chief Compliance Officer) appeared on Schedule A of P••••• C••••••• L••
        Mar 31, 2023 · Control person joined · fact
      • J••• C••••••• R••••• (Partner) appeared on Schedule A of P••••• C••••••• L••
        Oct 6, 2022 · Control person joined · fact
      • P••••• C••••••• L•• reported RAUM $685.5M, up 28% from $537.1M (2021-03-31 to 2022-03-31)
        Mar 31, 2022 · RAUM change · derived
      • P••••• C••••••• L•• reported RAUM $506.0M, up 32% from $382.3M (2019-03-29 to 2020-03-30)
        Mar 30, 2020 · RAUM change · derived
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Website
      P•••••CAP.COMreportedpublic record, Form ADV, Sep 19, 2026
      Principal office phone
      610-941-5000reportedpublic record, Form ADV, Mar 26, 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
      Across the graphs

      P••••• C••••••• L•• is the same institution as 1 record in Real Estate Funds.

      Real Estate Funds1

      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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