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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Former SEC-registered adviser

B••• H•••••• G••••• L•••

Former SEC-registered adviserGreenwich, ConnecticutCRD 154768SEC 801-72084IAPD
Latest filing Mar 13, 2020
First filing on the tape Mar 30, 2012 · 15 filings
RAUM
$2.2B
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
21
8 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
$1.6B gross assets
History
15 filings and snapshots on the tape
RAUM$2.2B as of Mar 13, 2020
Mar 30, 2012$1.3B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 13, 2020
Mar 30, 20120 then
Employees (5.A)21 as of Mar 13, 2020
Mar 28, 201318 then
Private funds3 as of Mar 13, 2020
Mar 30, 20123 then
RAUM -2.7% over the last fiscal year-18% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 13, 2020; 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
$147MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
27%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
-2.7%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
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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$1.6B73%
  • State and municipal entities$591M27%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
15reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
$0 for 4 clientsreported
Compensation
% of AUM, performancereported
Class basis
absent from the latest SEC rosterderived
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
      Every departureEvery arrival
      Private funds
      6 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      B••• H•••••• A••••• O•••••••• P••••••• M••••• F•••• L•Hedge Fund$880M24Mar 28, 2013
      B••• H•••••• S•••••••• V•••• P••••••• M••••• F•••• L•Hedge Fund$697M33Mar 30, 2012
      B••• H•••••• I••••••••• P••••••• M••••• F•••• L•••no longer reportedHedge Fund$383M7Mar 30, 2012
      A•••• H•••••• M••••• F•••• L•no longer reportedHedge Fund$38.6M3Mar 28, 2013
      B• S•••••• I••••••••• 1•• L•Hedge Fund$38.4M18Sep 6, 2017
      B••• H•••••• C•••••••• F•••• L•no longer reportedOther Private Fund$4.0M27Mar 30, 2012
      Owners and control persons
      Schedule A and B, latest filing
      • K•••• C••••••• S• · Chief Financial Officercontrol
        since 10/2018 · owns less than 5%
      • R••••••• R••••• · Chief Compliance Officer And General Counselcontrol
        since 07/2016 · owns less than 5%
      • R••••••• C••••••• S•••• · Ceo/Managing Membercontrol
        since 05/2004 · owns less than 5%
      • R••••••• C••••••• S•••• · Membercontrol
        since 05/2004 · owns 75% or more of B••• H•••••• H•••••••• L••
      • R••••••• C••••••• S•••• · Membercontrol
        since 05/2014 · owns 50% to 75% of B•• I• H••••• L••
      • R••••••• D••••••• Z•••• · Trusteecontrol
        since 11/2004 · owns F of R•••••• F••••• T••••
      Entity owners
      • B•• I• H••••• L•• · Limited Partner (Of B••• H•••••• G••••• L•••)
        direct · owns 75% or more
      • B••• H•••••• H•••••••• L•• · General Partner (Of B••• H•••••• G••••• L•••)
        direct · owns less than 5%
      • N• A••••••••• G• H••••••• L•• · Managing Member
        indirect · owns 75% or more of N• D••• G• H••••••• L••
      • N• A••••••••• H••••••• L•• · Managing Member
        indirect · owns 75% or more of N• A••••••••• G• H••••••• L••
      • N• D••• A••••••••• L• · General Partner
        indirect · owns F of D••• C•••••• P••••••• •• L•
      • N• D••• G• H••••••• L•• · General Partner
        indirect · owns F of N• D••• A••••••••• L•
      • N•••••••• B••••• G•••• · Managing Member
        indirect · owns 75% or more of N• A••••••••• H••••••• L••
      • R•••••• F••••• T•••• · Member
        indirect · owns 25% to 50% of B•• I• H••••• L••
      • D••• C•••••• P••••••• •• L• · Limited Partner (Of B••• H•••••• G••••• L•••)
        direct · owns 10% to 25%
      Related persons
      Schedule D 7.A
      • B• S•••••• I••••••••• 1• G•• L••
        pooled vehicle sponsorn
      • B••• H•••••• G•• L•••••
        bankpooled vehicle sponsorn
      • C•••••• S•••••• I••••••••• P••••••• G•• L••
        pooled vehicle sponsorn
      • C•••••• S•••••••• P••••••• G•• L•••••
        bankpooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Advisory employees · 10 to 8
        Mar 27, 2019 to Mar 13, 2020
      • Employees · 24 to 21
        Mar 27, 2019 to Mar 13, 2020
      • Discretionary RAUM · $2.3B to $2.2B
        Mar 27, 2019 to Mar 13, 2020
      • Pooled vehicle RAUM · $1.7B to $1.6B
        Mar 27, 2019 to Mar 13, 2020
      • RAUM · $2.3B to $2.2B
        Mar 27, 2019 to Mar 13, 2020
      • Accounts · 16 to 15
        Mar 13, 2018 to Mar 27, 2019
      • Pooled vehicle clients · 14 to 13
        Mar 13, 2018 to Mar 27, 2019
      • Private funds · 4 to 3
        Mar 13, 2018 to Mar 27, 2019
      • Discretionary RAUM · $3.6B to $2.3B
        Mar 13, 2018 to Mar 27, 2019
      • Pooled vehicle RAUM · $2.8B to $1.7B
        Mar 13, 2018 to Mar 27, 2019
      • RAUM · $3.6B to $2.3B
        Mar 13, 2018 to Mar 27, 2019
      • Accounts · 14 to 16
        Sep 6, 2017 to Mar 13, 2018
      • Advisory employees · 11 to 10
        Sep 6, 2017 to Mar 13, 2018
      • Charity clients · unset to 0.0
        Sep 6, 2017 to Mar 13, 2018
      • Corporate clients · unset to 0.0
        Sep 6, 2017 to Mar 13, 2018
      • HNW clients · unset to 0.0
        Sep 6, 2017 to Mar 13, 2018
      • Individual clients · unset to 0.0
        Sep 6, 2017 to Mar 13, 2018
      • Pension plan clients · unset to 0.0
        Sep 6, 2017 to Mar 13, 2018
      • Pooled vehicle clients · unset to 14.0
        Sep 6, 2017 to Mar 13, 2018
      • Other offices · unset to 0.0
        Sep 6, 2017 to Mar 13, 2018
      • Discretionary RAUM · $4.0B to $3.6B
        Sep 6, 2017 to Mar 13, 2018
      • Pooled vehicle RAUM · unset to 2780719337.0
        Sep 6, 2017 to Mar 13, 2018
      • RAUM · $4.0B to $3.6B
        Sep 6, 2017 to Mar 13, 2018
      • Private funds · 3 to 4
        Mar 21, 2017 to Sep 6, 2017
      • Advisory employees · 9 to 11
        Jul 28, 2016 to Mar 21, 2017
      • Employees · 23 to 24
        Jul 28, 2016 to Mar 21, 2017
      • Discretionary RAUM · $3.8B to $4.0B
        Jul 28, 2016 to Mar 21, 2017
      • RAUM · $3.8B to $4.0B
        Jul 28, 2016 to Mar 21, 2017
      • Related adviser · true to false
        Jul 28, 2016 to Mar 21, 2017
      • Accounts · 12 to 14
        Feb 3, 2015 to Mar 22, 2016
      • Advisory employees · 8 to 9
        Feb 3, 2015 to Mar 22, 2016
      • Assets in custody · $8.0M to $0
        Feb 3, 2015 to Mar 22, 2016
      • Employees · 21 to 23
        Feb 3, 2015 to Mar 22, 2016
      • Private funds · 4 to 3
        Feb 3, 2015 to Mar 22, 2016
      • Discretionary RAUM · $3.6B to $3.8B
        Feb 3, 2015 to Mar 22, 2016
      • RAUM · $3.6B to $3.8B
        Feb 3, 2015 to Mar 22, 2016
      • Accounts · 13 to 12
        Jun 5, 2014 to Feb 3, 2015
      • Assets in custody · $0 to $8.0M
        Jun 5, 2014 to Feb 3, 2015
      • Employees · 18 to 21
        Jun 5, 2014 to Feb 3, 2015
      • Discretionary RAUM · $2.2B to $3.6B
        Jun 5, 2014 to Feb 3, 2015
      Signals
      4 dated events
      • B••• H•••••• G••••• L••• reported RAUM $2.3B, down 37% from $3.6B (2018-03-13 to 2019-03-27)
        Mar 27, 2019 · RAUM change · derived
      • Patrick John Ernenwein (Chief Financial Officer) no longer on Schedule A of B••• H•••••• G••••• L••• (listed 2018-03-13, absent 2019-03-27)
        Mar 27, 2019 · Control person left · inference
      • (Nmn) Edwin Robbins (Trustee) no longer on Schedule A of B••• H•••••• G••••• L••• (listed 2018-03-13, absent 2019-03-27)
        Mar 27, 2019 · Control person left · inference
      • S Charles Kwon (Chief Financial Officer) appeared on Schedule A of B••• H•••••• G••••• L•••
        Mar 27, 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.
      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
      Former SEC-registered adviserderiveda 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