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
K••••••• M••••••••• L••
Latest filing Mar 30, 2026
First filing on the tape Mar 29, 2012 · 28 filings
SEC status approved since Jul 2, 2010
RAUM
$993M
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
15
7 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
4
reported on Schedule D
History
28 filings and snapshots on the tape
RAUM$993M as of Mar 30, 2026
Mar 29, 2012$244M then
HNW client RAUM$3.3M as of Mar 20, 2019
Mar 23, 2018$4.1M then
State-registered IARs (5.B.3)0 as of Mar 30, 2026
Mar 29, 20120 then
Employees (5.A)15 as of Mar 30, 2026
Mar 28, 20138 then
Private funds4 as of Mar 30, 2026
Mar 29, 20123 then
RAUM +149% over the last fiscal year-20% a year over threeIARs 0 to 0offices 1 to 0
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
- $165MderivedRAUM 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
- unknownderived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +149%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 individuals, portfolio management for businesses and institutions, portfolio management for pooled vehiclesreportedItem 5.G
- Custody
- $383M, 4 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
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Other investment advisers$610M61%
- Pooled investment vehicles$383M39%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 6reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $383M for 4 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=true 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
10 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| K••••••• F••• I• •••• L•• | Hedge Fund | $243M | 47 | Mar 29, 2012 |
| K••••••• I••••••••• O••••••••• F••• I•• L•• | Other Private Fund | $236M | 68 | Mar 25, 2014 |
| K••••••• I••••••••• I•••••• F•••• L•• | Other Private Fund | $144M | 26 | Mar 23, 2018 |
| K••••••• F••• I•• L•• | Hedge Fund | $107M | 35 | Mar 29, 2012 |
| K••••••• F••• I••• L•• | Hedge Fund | $98.8M | 1 | Mar 28, 2013 |
| K••••••• E••••••• M•••••• F•••• L•• | Other Private Fund | $25.2M | 19 | Mar 20, 2019 |
| K••••••• I••••••••• M•••••• F•••• L••no longer reported | Other Private Fund | $24.8M | 6 | Mar 31, 2015 |
| K••••••• T••••••••• V•••••• I• L•• | Other Private Fund | $23.0M | 24 | Mar 24, 2022 |
| I••••••••• S••••• P•••••••• L•no longer reported | Hedge Fund | $15.3M | 46 | Mar 29, 2012 |
| K••••••• I••••••••• I•••••• M••••• F••• L•••no longer reported | Hedge Fund | $14.5M | 1 | Mar 31, 2015 |
Owners and control persons
Schedule A and B, latest filing
- C•••• L•••• · Chief Operating Officercontrolsince 09/2009 · owns less than 5%
- H••••••••• M•••••• P••• · Principalcontrolsince 09/2003 · owns less than 5%
- Z•••••••• P•••• · Principalcontrolsince 09/2003 · owns less than 5%
- H••••••••• M•••••• P••• · Co-Chief Executive Officercontrolsince 09/2018 · owns 25% to 50% of K••••••• H•••••••• I•••
- Z•••••••• P•••• · Co-Chief Executive Officercontrolsince 09/2018 · owns 50% to 75% of K••••••• H•••••••• I•••
- K••• J••• · Chief Compliance Officersince 02/2022 · owns less than 5%
- S•••• S•••••• · Chief Financial Officersince 06/2016 · owns less than 5%
Entity owners
- K••••••• H•••••••• I••• · Ownerdirect · owns 75% or more
Related persons
Schedule D 7.A
No related person reported.
Offices
Schedule D 1.F, the 25 largest
- Tiburon, CA1 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- institutional asset share shiftChange between filings · filing Mar 30, 2026institutional share of RAUM moved from 0.0% to 61.0% between the annual amendments of 2025-03-27 and 2026-03-30peers: asset managers, $500M to $1B (784)
- RAUM up 50 %Change between filings · filing Mar 30, 2026RAUM (Item 5.F) moved from $398,897,138 to $992,507,069 (+149.0%) between the annual amendments of 2025-03-27 and 2026-03-30; the peer median change was +8.0% (673 comparable advisers, 97.0th percentile of changes)peers: asset managers, $500M to $1B (673) · 97% percentile
What changed
consecutive filings, newest first
- Accounts · 7 to 6Mar 27, 2025 to Mar 30, 2026
- Advisory employees · 8 to 7Mar 27, 2025 to Mar 30, 2026
- Pooled vehicle clients · 7 to 5Mar 27, 2025 to Mar 30, 2026
- Assets in custody · $399M to $383MMar 27, 2025 to Mar 30, 2026
- Employees · 19 to 15Mar 27, 2025 to Mar 30, 2026
- Other offices · 1 to 0Mar 27, 2025 to Mar 30, 2026
- Private funds · 5 to 4Mar 27, 2025 to Mar 30, 2026
- Discretionary RAUM · $399M to $993MMar 27, 2025 to Mar 30, 2026
- Pooled vehicle RAUM · $399M to $383MMar 27, 2025 to Mar 30, 2026
- RAUM · $399M to $993MMar 27, 2025 to Mar 30, 2026
- Accounts · 11 to 7Jan 22, 2025 to Mar 27, 2025
- Advisory employees · 9 to 8Jan 22, 2025 to Mar 27, 2025
- Pooled vehicle clients · 11 to 7Jan 22, 2025 to Mar 27, 2025
- Assets in custody · $877M to $399MJan 22, 2025 to Mar 27, 2025
- Employees · 23 to 19Jan 22, 2025 to Mar 27, 2025
- Financial planning clients · 0 to 0Jan 22, 2025 to Mar 27, 2025
- Private funds · 7 to 5Jan 22, 2025 to Mar 27, 2025
- Discretionary RAUM · $877M to $399MJan 22, 2025 to Mar 27, 2025
- Pooled vehicle RAUM · $877M to $399MJan 22, 2025 to Mar 27, 2025
- RAUM · $877M to $399MJan 22, 2025 to Mar 27, 2025
- Accounts · 17 to 11Mar 27, 2023 to Mar 25, 2024
- Advisory employees · 11 to 9Mar 27, 2023 to Mar 25, 2024
- Pooled vehicle clients · 13 to 11Mar 27, 2023 to Mar 25, 2024
- Assets in custody · $1.5B to $877MMar 27, 2023 to Mar 25, 2024
- Employees · 26 to 23Mar 27, 2023 to Mar 25, 2024
- Private funds · 8 to 7Mar 27, 2023 to Mar 25, 2024
- Discretionary RAUM · $1.9B to $877MMar 27, 2023 to Mar 25, 2024
- Pooled vehicle RAUM · $1.5B to $877MMar 27, 2023 to Mar 25, 2024
- RAUM · $1.9B to $877MMar 27, 2023 to Mar 25, 2024
- Accounts · 22 to 17Apr 22, 2022 to Mar 27, 2023
- Advisory employees · 16 to 11Apr 22, 2022 to Mar 27, 2023
- Pooled vehicle clients · 15 to 13Apr 22, 2022 to Mar 27, 2023
- Assets in custody · $4.3B to $1.5BApr 22, 2022 to Mar 27, 2023
- Employees · 32 to 26Apr 22, 2022 to Mar 27, 2023
- Financial planning clients · unset to 0Apr 22, 2022 to Mar 27, 2023
- Discretionary RAUM · $5.2B to $1.9BApr 22, 2022 to Mar 27, 2023
- Pooled vehicle RAUM · $4.6B to $1.5BApr 22, 2022 to Mar 27, 2023
- RAUM · $5.2B to $1.9BApr 22, 2022 to Mar 27, 2023
- Accounts · 21 to 22Feb 4, 2022 to Mar 24, 2022
- Advisory employees · 18 to 16Feb 4, 2022 to Mar 24, 2022
Signals
5 dated events
- K••••••• M••••••••• L•• reported RAUM $992.5M, up 149% from $398.9M (2025-03-27 to 2026-03-30)Mar 30, 2026 · RAUM change · derived
- K••••••• M••••••••• L•• reported RAUM $398.9M, down 54% from $876.7M (2025-01-22 to 2025-03-27)Mar 27, 2025 · RAUM change · derived
- K••••••• M••••••••• L•• reported RAUM $876.7M, down 54% from $1.9B (2023-03-27 to 2024-03-25)Mar 25, 2024 · RAUM change · derived
- K••••••• M••••••••• L•• reported RAUM $1.9B, down 63% from $5.2B (2022-04-22 to 2023-03-27)Mar 27, 2023 · RAUM change · derived
- K••••••• M••••••••• L•• reported RAUM $4.5B, up 70% from $2.7B (2017-03-28 to 2018-03-23)Mar 23, 2018 · RAUM change · derived
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
- K•••••••FUND.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 312-546-4260reportedpublic 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