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
W•••• S••••• H••••••••• P•••••••• L••
Latest filing Mar 30, 2026
First filing on the tape Jan 11, 2012 · 24 filings
SEC status approved since Mar 29, 2012
RAUM
$7.5B
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
42
38 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
16
reported on Schedule D
History
24 filings and snapshots on the tape
RAUM$7.5B as of Mar 30, 2026
Mar 28, 2013$1.8B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 30, 2026
Mar 28, 20130 then
Employees (5.A)42 as of Mar 30, 2026
Mar 28, 201322 then
Private funds16 as of Mar 30, 2026
Mar 28, 20134 then
RAUM -0.7% over the last fiscal year+5.2% a year over threeIARs 0 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
- $468MderivedRAUM 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
- -0.7%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-based, otherreportedItem 5.E
- Advisory activities
- portfolio management for pooled vehicles, otherreportedItem 5.G
- Custody
- $3.8M, 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
- 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)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$7.5B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 16reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $3.8M for 1 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 |
|---|---|---|---|---|
| P•••••• W•••• F•••• L••• | Private Equity Fund | $2.0B | 165 | Mar 31, 2022 |
| W•••• S••••• H••••••••• P••••••• I•• L••• | Private Equity Fund | $1.1B | 64 | Mar 30, 2018 |
| W•••• S••••• H••••••••• P••••••• V• L••• | Private Equity Fund | $956M | 73 | Mar 31, 2023 |
| W•••• S••••• O•••• F•••• L••• | Private Equity Fund | $730M | 56 | Mar 31, 2022 |
| W•••• S••••• O•••• F••• P•••••••• L••• | Private Equity Fund | $501M | 27 | Mar 31, 2022 |
| W•••• S••••• H••••••••• P••••••• I••• L••• | Private Equity Fund | $465M | 72 | Mar 28, 2013 |
| W•••• S••••• H••••••••• P••••••• V• P•••••••• L••• | Private Equity Fund | $423M | 31 | Mar 31, 2023 |
| W•••• S••••• H••••••••• P••••••• I• S• L••• | Private Equity Fund | $351M | 41 | Mar 30, 2020 |
| W•••• S••••• H••••••••• P••••••• I• A•• P•••••••• L••• | Private Equity Fund | $294M | 13 | Mar 31, 2021 |
| W••• I• A•• C•••••• L••• | Private Equity Fund | $266M | 64 | Mar 31, 2021 |
| W•••• S••••• H••••••••• P••••••• I• S• P•••••••• L••• | Private Equity Fund | $156M | 15 | Mar 30, 2020 |
| W•••• S••••• H••••••••• P••••••• I•• L••• | Private Equity Fund | $71.0M | 63 | Jan 11, 2012 |
| W••• I• A•• P••••••• C•••••• L••• | Private Equity Fund | $69.6M | 13 | Mar 31, 2021 |
| W• A•••••••• C•••••••• P•••••••• L•• | Private Equity Fund | $2.9M | 44 | Jan 11, 2012 |
| W•••• S••••• H••••••••• P•••••••• L••• | Private Equity Fund | $2.4M | 58 | Jan 11, 2012 |
| W••• I• A••• L•••no longer reported | Private Equity Fund | $0 | 63 | Sep 17, 2014 |
| W••• I•• A••• L••• | Private Equity Fund | $0 | 72 | Mar 30, 2020 |
Owners and control persons
Schedule A and B, latest filing
- D••••• T••••••• A•••• · Managing Membercontrolsince 05/2005 · owns 75% or more
- H••••• K•••• A••• · Chief Financial Officercontrolsince 07/2021 · owns less than 5%
- H•••••• J••••••• V•••••• · Member / Chief Compliance Officer / Chief Administrative Officercontrolsince 07/2005 · owns less than 5%
Related persons
Schedule D 7.A
- P•••••• W•••• M••••••••• L•••pooled vehicle sponsory
- P•••••• W•••• P•••••••• L•••pooled vehicle sponsory
- W•••• S••••• H••••••••• M••••••••• I•• L•••pooled vehicle sponsory
- W•••• S••••• H••••••••• M••••••••• I••• L•••pooled vehicle sponsory
- W•••• S••••• H••••••••• M••••••••• I• S• L•••pooled vehicle sponsory
- W•••• S••••• H••••••••• M••••••••• V• L•••pooled vehicle sponsory
- W•••• S••••• H••••••••• M••••••••• L•••pooled vehicle sponsory
- W•••• S••••• O•••• M••••••••• L•••pooled vehicle sponsory
- W••••••••• H••••••••• M••••••••• I•• L•••pooled vehicle sponsory
- W••• I•• A••• L•••pooled vehicle sponsory
- W••• I• A•• C•••••• L•••pooled vehicle sponsorn
Advisers that list W•••• S••••• H••••••••• P•••••••• L•• as a related person
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Advisory employees · 36 to 38Mar 25, 2025 to Mar 30, 2026
- Assets in custody · $3.4M to $3.8MMar 25, 2025 to Mar 30, 2026
- Employees · 40 to 42Mar 25, 2025 to Mar 30, 2026
- Discretionary RAUM · $7.5B to $7.5BMar 25, 2025 to Mar 30, 2026
- Pooled vehicle RAUM · $7.5B to $7.5BMar 25, 2025 to Mar 30, 2026
- RAUM · $7.5B to $7.5BMar 25, 2025 to Mar 30, 2026
- Advisory employees · 26 to 36Jul 2, 2024 to Mar 25, 2025
- Advisory activities · 1 to 2Jul 2, 2024 to Mar 25, 2025
- Assets in custody · $7.4B to $3.4MJul 2, 2024 to Mar 25, 2025
- Employees · 39 to 40Jul 2, 2024 to Mar 25, 2025
- Financial planning clients · unset to Jul 2, 2024 to Mar 25, 2025
- Discretionary RAUM · $7.4B to $7.5BJul 2, 2024 to Mar 25, 2025
- Pooled vehicle RAUM · $7.4B to $7.5BJul 2, 2024 to Mar 25, 2025
- RAUM · $7.4B to $7.5BJul 2, 2024 to Mar 25, 2025
- Assets in custody · $6.4B to $7.4BMar 31, 2023 to Mar 29, 2024
- Employees · 40 to 39Mar 31, 2023 to Mar 29, 2024
- Discretionary RAUM · $6.4B to $7.4BMar 31, 2023 to Mar 29, 2024
- Pooled vehicle RAUM · $6.4B to $7.4BMar 31, 2023 to Mar 29, 2024
- RAUM · $6.4B to $7.4BMar 31, 2023 to Mar 29, 2024
- Accounts · 15 to 16Mar 31, 2022 to Mar 31, 2023
- Pooled vehicle clients · 15 to 16Mar 31, 2022 to Mar 31, 2023
- Assets in custody · $5.0B to $6.4BMar 31, 2022 to Mar 31, 2023
- Employees · 34 to 40Mar 31, 2022 to Mar 31, 2023
- Private funds · 15 to 16Mar 31, 2022 to Mar 31, 2023
- Discretionary RAUM · $5.0B to $6.4BMar 31, 2022 to Mar 31, 2023
- Pooled vehicle RAUM · $5.0B to $6.4BMar 31, 2022 to Mar 31, 2023
- RAUM · $5.0B to $6.4BMar 31, 2022 to Mar 31, 2023
- Accounts · 12 to 15May 28, 2021 to Mar 31, 2022
- Advisory employees · 20 to 26May 28, 2021 to Mar 31, 2022
- Pooled vehicle clients · 12 to 15May 28, 2021 to Mar 31, 2022
- Assets in custody · $2.4B to $5.0BMay 28, 2021 to Mar 31, 2022
- Employees · 32 to 34May 28, 2021 to Mar 31, 2022
- Private funds · 12 to 15May 28, 2021 to Mar 31, 2022
- Discretionary RAUM · $2.4B to $5.0BMay 28, 2021 to Mar 31, 2022
- Pooled vehicle RAUM · $2.4B to $5.0BMay 28, 2021 to Mar 31, 2022
- RAUM · $2.4B to $5.0BMay 28, 2021 to Mar 31, 2022
- Accounts · 9 to 12Mar 30, 2020 to Mar 31, 2021
- Pooled vehicle clients · 9 to 12Mar 30, 2020 to Mar 31, 2021
- Assets in custody · $1.9B to $2.4BMar 30, 2020 to Mar 31, 2021
- Private funds · 9 to 12Mar 30, 2020 to Mar 31, 2021
Signals
5 dated events
- W•••• S••••• H••••••••• P•••••••• L•• reported RAUM $6.4B, up 29% from $5.0B (2022-03-31 to 2023-03-31)Mar 31, 2023 · RAUM change · derived
- W•••• S••••• H••••••••• P•••••••• L•• reported RAUM $5.0B, up 111% from $2.4B (2021-05-28 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- W•••• S••••• H••••••••• P•••••••• L•• reported RAUM $2.4B, up 26% from $1.9B (2020-03-30 to 2021-03-31)Mar 31, 2021 · RAUM change · derived
- Grover James Connelly (Managing Member) no longer on Schedule A of W•••• S••••• H••••••••• P•••••••• L•• (listed 2018-03-30, absent 2019-03-29)Mar 29, 2019 · Control person left · inference
- W•••• S••••• H••••••••• P•••••••• L•• reported RAUM $2.3B, up 78% from $1.3B (2017-03-31 to 2018-03-30)Mar 30, 2018 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
- W•••• S••••• H••••••••• P•••••••• L•• · Independent Sponsorsshared crd · capital_provider
- W•••• S••••• H••••••••• P•••••••• L•• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/water-street-healthcare-partners-llcreportedpublic record, Form ADV, Sep 18, 2026
- Website
- waterstreet.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 312-506-2900reportedpublic 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