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Former SEC-registered adviser

K••••• A•••• M••••••••• L•••

Former SEC-registered adviserChicago, IllinoisCRD 155498SEC 801-72357IAPD
Latest filing Mar 11, 2025
First filing on the tape Mar 22, 2012 · 16 filings
SEC status approved since Jun 1, 2011
RAUM
$578M
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
5
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
1
reported on Schedule D
History
16 filings and snapshots on the tape
RAUM$578M as of Mar 11, 2025
Mar 22, 2012$213M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 11, 2025
Mar 22, 20120 then
Employees (5.A)5 as of Mar 11, 2025
Mar 19, 20133 then
Private funds1 as of Mar 11, 2025
Mar 22, 20121 then
RAUM -1.1% over the last fiscal year-7.9% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 11, 2025; 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
$116MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
26%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
-1.1%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
$122M, 1 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$415M72%
  • Charitable organizations$149M26%
  • Corporations and businesses$13.7M2.4%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
2reported
Accounts
5reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$122M for 1 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
      1 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      A••••• C•••••• L•Hedge Fund$121M17Mar 22, 2012
      Owners and control persons
      Schedule A and B, latest filing
      • B••••• B••••• W•••••• · Chief Financial Officer; Chief Compliance Officercontrol
        since 01/2009 · owns less than 5%
      • K•••••• P••••• A•••••• · Managing Membercontrol
        since 01/2003 · owns 75% or more
      • G••••••••• R•••••• L••••••• · Membercontrol
        since 07/2002 · owns 25% to 50% of G••••• A•••••••• L••
      • G••••••••• J•••• M•••••• · Membercontrol
        since 07/2002 · owns 25% to 50% of G••••• A•••••••• L••
      Entity owners
      • G••••• A•••••••• L•• · Non-Managing Member
        direct · owns 25% to 50%
      Related persons
      Schedule D 7.A
      • A••••••• C•••••• M••••••••• L••
        investment adviserpooled vehicle sponsory
      Advisers that list K••••• A•••• M••••••••• L••• as a related person
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Assets in custody · $121M to $122M
        Aug 28, 2024 to Mar 11, 2025
      • Financial planning clients · unset to
        Aug 28, 2024 to Mar 11, 2025
      • Discretionary RAUM · $584M to $578M
        Aug 28, 2024 to Mar 11, 2025
      • Pooled vehicle RAUM · $398M to $415M
        Aug 28, 2024 to Mar 11, 2025
      • RAUM · $584M to $578M
        Aug 28, 2024 to Mar 11, 2025
      • Accounts · 6 to 5
        Mar 21, 2023 to Mar 18, 2024
      • Charity clients · 3 to 2
        Mar 21, 2023 to Mar 18, 2024
      • Assets in custody · $121M to $121M
        Mar 21, 2023 to Mar 18, 2024
      • Discretionary RAUM · $554M to $584M
        Mar 21, 2023 to Mar 18, 2024
      • Pooled vehicle RAUM · $359M to $398M
        Mar 21, 2023 to Mar 18, 2024
      • RAUM · $554M to $584M
        Mar 21, 2023 to Mar 18, 2024
      • Related adviser · false to true
        Mar 21, 2023 to Mar 18, 2024
      • Accounts · 8 to 6
        Mar 18, 2022 to Mar 21, 2023
      • Advisory employees · 5 to 4
        Mar 18, 2022 to Mar 21, 2023
      • Charity clients · 5 to 3
        Mar 18, 2022 to Mar 21, 2023
      • Assets in custody · $172M to $121M
        Mar 18, 2022 to Mar 21, 2023
      • Employees · 6 to 5
        Mar 18, 2022 to Mar 21, 2023
      • Discretionary RAUM · $741M to $554M
        Mar 18, 2022 to Mar 21, 2023
      • Pooled vehicle RAUM · $464M to $359M
        Mar 18, 2022 to Mar 21, 2023
      • RAUM · $741M to $554M
        Mar 18, 2022 to Mar 21, 2023
      • Accounts · 10 to 8
        Mar 25, 2021 to Mar 18, 2022
      • Pooled vehicle clients · 4 to 2
        Mar 25, 2021 to Mar 18, 2022
      • Assets in custody · $165M to $172M
        Mar 25, 2021 to Mar 18, 2022
      • Discretionary RAUM · $746M to $741M
        Mar 25, 2021 to Mar 18, 2022
      • Pooled vehicle RAUM · $471M to $464M
        Mar 25, 2021 to Mar 18, 2022
      • RAUM · $746M to $741M
        Mar 25, 2021 to Mar 18, 2022
      • Accounts · 11 to 10
        Mar 30, 2020 to Mar 25, 2021
      • Pooled vehicle clients · 5 to 4
        Mar 30, 2020 to Mar 25, 2021
      • Assets in custody · $233M to $165M
        Mar 30, 2020 to Mar 25, 2021
      • Discretionary RAUM · $869M to $746M
        Mar 30, 2020 to Mar 25, 2021
      • Pooled vehicle RAUM · $631M to $471M
        Mar 30, 2020 to Mar 25, 2021
      • RAUM · $869M to $746M
        Mar 30, 2020 to Mar 25, 2021
      • Accounts · 10 to 11
        Mar 22, 2019 to Mar 30, 2020
      • Charity clients · 4 to 5
        Mar 22, 2019 to Mar 30, 2020
      • Assets in custody · $263M to $233M
        Mar 22, 2019 to Mar 30, 2020
      • Other offices · 1 to 0
        Mar 22, 2019 to Mar 30, 2020
      • Discretionary RAUM · $782M to $869M
        Mar 22, 2019 to Mar 30, 2020
      • Pooled vehicle RAUM · $612M to $631M
        Mar 22, 2019 to Mar 30, 2020
      • RAUM · $782M to $869M
        Mar 22, 2019 to Mar 30, 2020
      • Accounts · 9 to 10
        Mar 22, 2018 to Mar 22, 2019
      Signals
      3 dated events
      • K••••• A•••• M••••••••• L••• no longer on the SEC adviser roster (last listed 2026-03-02, RAUM $578.1M)
        Apr 1, 2026 · Left the SEC roster · derived
      • K••••• A•••• M••••••••• L••• reported RAUM $553.9M, down 25% from $740.5M (2022-03-18 to 2023-03-21)
        Mar 21, 2023 · RAUM change · derived
      • K••••• A•••• M••••••••• L••• reported RAUM $909.5M, up 30% from $702.2M (2017-03-24 to 2018-03-22)
        Mar 22, 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.
      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