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
L•••• A•••••••• L•
Latest filing Mar 27, 2026
First filing on the tape Dec 15, 2011 · 37 filings
SEC status approved since Jul 29, 2010
RAUM
$789M
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
9 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
8
reported on Schedule D
History
37 filings and snapshots on the tape
RAUM$789M as of Mar 27, 2026
Mar 29, 2012$21.8M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 27, 2026
Mar 29, 20120 then
Employees (5.A)12 as of Mar 27, 2026
Apr 1, 20133 then
Private funds8 as of Mar 27, 2026
Mar 29, 20124 then
RAUM -12% over the last fiscal year+6.2% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 27, 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
- $98.7MderivedRAUM 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
- -12%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
- $693M, 8 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)
- 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$789M100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 8reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $693M for 8 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)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| L•••• M•••••••• O••••••••• F••• I• L• | Private Equity Fund | $410M | 380 | Mar 26, 2021 |
| L•••• M•••••••• O••••••••• F••• I•• L• | Private Equity Fund | $153M | 225 | Aug 30, 2018 |
| L•••• M•••••••• O••••••••• F••• V• L• | Private Equity Fund | $112M | 298 | Jun 6, 2023 |
| L•••• C••••••• M•••••••• O••••••••• F••• I•• L• | Private Equity Fund | $39.1M | 2 | Mar 30, 2022 |
| L•••• S•••••• O••••••••• F••• L•no longer reported | Private Equity Fund | $33.1M | 10 | Mar 27, 2020 |
| L•••• M•••••••• O••••••••• F••• I• L•no longer reported | Private Equity Fund | $26.0M | 142 | Jul 23, 2015 |
| L•••• C••••••• M•••••••• O••••••••• F••• I• L• | Private Equity Fund | $21.6M | 2 | Mar 27, 2020 |
| N••••••••• P•••••••• F•••••• T•••• I•no longer reported | Securitized Asset Fund | $16.4M | 8 | Mar 30, 2012 |
| L•••• A••••• F••• I• L•no longer reported | Private Equity Fund | $15.5M | 3 | Apr 28, 2015 |
| L•••• C••••••• M•••••••• O••••••••• F••• I• L• | Private Equity Fund | $13.4M | 2 | Mar 26, 2024 |
| L•••• C••••••• M•••••••• O••••••••• F••• L• | Private Equity Fund | $10.6M | 2 | Mar 27, 2018 |
| L•••• M•••••••• O••••••••• F••• L•no longer reported | Private Equity Fund | $3.1M | 75 | Apr 1, 2013 |
| L•••• O••••••••• F••• I••• L•no longer reported | Private Equity Fund | $2.4M | 8 | Mar 29, 2012 |
| L•••• A••••• F••• I• L•no longer reported | Private Equity Fund | $1.5M | 2 | Apr 1, 2013 |
| L•••• O••••••••• F••• I•• L•no longer reported | Private Equity Fund | $915,006 | 13 | Mar 29, 2012 |
| L•••• O••••••••• F••• I•• L•no longer reported | Private Equity Fund | $42,325 | 5 | Mar 29, 2012 |
| L•••• O••••••••• F••• I• L•no longer reported | Private Equity Fund | $27,264 | 5 | Mar 29, 2012 |
Owners and control persons
Schedule A and B, latest filing
- H••••• K•••••••• R••• · Limited Partner, Manager Of Gpcontrolsince 12/2009 · owns 75% or more
- C•••••• F••••• R••• · Chief Financial Officersince 04/2015 · owns less than 5%
- T••••••• B•••••• · Limited Partnersince 12/2013 · owns 10% to 25%
Entity owners
- L•••••••• L•• · General Partnerdirect · owns less than 5%
- M•••••• I•• · General Partnerindirect · owns F of M•• A•••••••• L•
- M•• F•••••••• L• · Limited Partnerindirect · owns 50% to 75% of M•• A•••••••• L•
- M•• P••••••••• L• · Limited Partnerindirect · owns 25% to 50% of M•• A•••••••• L•
- M•• A•••••••• L• · Limited Partnerdirect · owns 10% to 25%
Related persons
Schedule D 7.A
- L•••••••• L••pooled vehicle sponsory
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Advisory employees · 7 to 9Oct 16, 2025 to Mar 27, 2026
- Assets in custody · $827M to $693MOct 16, 2025 to Mar 27, 2026
- Employees · 10 to 12Oct 16, 2025 to Mar 27, 2026
- Discretionary RAUM · $827M to $789MOct 16, 2025 to Mar 27, 2026
- Pooled vehicle RAUM · $827M to $789MOct 16, 2025 to Mar 27, 2026
- RAUM · $827M to $789MOct 16, 2025 to Mar 27, 2026
- Accounts · 7 to 8Mar 28, 2025 to Oct 16, 2025
- Pooled vehicle clients · 7 to 8Mar 28, 2025 to Oct 16, 2025
- Assets in custody · $896M to $827MMar 28, 2025 to Oct 16, 2025
- Private funds · 7 to 8Mar 28, 2025 to Oct 16, 2025
- Discretionary RAUM · $896M to $827MMar 28, 2025 to Oct 16, 2025
- Pooled vehicle RAUM · $896M to $827MMar 28, 2025 to Oct 16, 2025
- RAUM · $896M to $827MMar 28, 2025 to Oct 16, 2025
- Assets in custody · $1.0B to $896MMar 26, 2024 to Mar 28, 2025
- Financial planning clients · unset to Mar 26, 2024 to Mar 28, 2025
- Discretionary RAUM · $1.0B to $896MMar 26, 2024 to Mar 28, 2025
- Pooled vehicle RAUM · $1.0B to $896MMar 26, 2024 to Mar 28, 2025
- RAUM · $1.0B to $896MMar 26, 2024 to Mar 28, 2025
- Accounts · 6 to 7Jun 6, 2023 to Mar 26, 2024
- Pooled vehicle clients · 6 to 7Jun 6, 2023 to Mar 26, 2024
- Assets in custody · $610M to $1.0BJun 6, 2023 to Mar 26, 2024
- Private funds · 6 to 7Jun 6, 2023 to Mar 26, 2024
- Discretionary RAUM · $970M to $1.0BJun 6, 2023 to Mar 26, 2024
- Pooled vehicle RAUM · $970M to $1.0BJun 6, 2023 to Mar 26, 2024
- RAUM · $970M to $1.0BJun 6, 2023 to Mar 26, 2024
- Accounts · 5 to 6Mar 24, 2023 to Jun 6, 2023
- Pooled vehicle clients · 5 to 6Mar 24, 2023 to Jun 6, 2023
- Assets in custody · $659M to $610MMar 24, 2023 to Jun 6, 2023
- Other offices · 1 to 0Mar 24, 2023 to Jun 6, 2023
- Private funds · 5 to 6Mar 24, 2023 to Jun 6, 2023
- Discretionary RAUM · $659M to $970MMar 24, 2023 to Jun 6, 2023
- Pooled vehicle RAUM · $659M to $970MMar 24, 2023 to Jun 6, 2023
- RAUM · $659M to $970MMar 24, 2023 to Jun 6, 2023
- Assets in custody · $683M to $659MJan 5, 2023 to Mar 24, 2023
- Discretionary RAUM · $683M to $659MJan 5, 2023 to Mar 24, 2023
- Pooled vehicle RAUM · $683M to $659MJan 5, 2023 to Mar 24, 2023
- RAUM · $683M to $659MJan 5, 2023 to Mar 24, 2023
- HQ city · LARKSPUR to DENVERMar 30, 2022 to Jan 5, 2023
- HQ state · CA to COMar 30, 2022 to Jan 5, 2023
- Accounts · 7 to 5Jun 9, 2021 to Mar 30, 2022
Signals
3 dated events
- L•••• A•••••••• L• reported RAUM $970.2M, up 47% from $659.4M (2023-03-24 to 2023-06-06)Jun 6, 2023 · RAUM change · derived
- L•••• A•••••••• L• reported RAUM $832.8M, up 58% from $526.8M (2020-03-27 to 2021-03-26)Mar 26, 2021 · RAUM change · derived
- L•••• A•••••••• L• reported RAUM $586.1M, up 114% from $274.0M (2018-07-02 to 2018-08-30)Aug 30, 2018 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
- L•••• A•••••••• L• · Independent Sponsorsshared crd · capital_provider
- L•••• A•••••••• L• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/lapis-advisers-lpreportedpublic record, Form ADV, Sep 18, 2026
- Website
- L••••ADVISERS.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 415-376-6280reportedpublic record, Form ADV, Mar 27, 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