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
F••
Asset manager (funds and pooled vehicles)San Francisco, CaliforniaCRD 156980SEC 801-73886websiteIAPD
Legal name F•• P•••••••• L••
Latest filing Mar 29, 2026
First filing on the tape Feb 14, 2012 · 21 filings
SEC status approved since Mar 30, 2012
RAUM
$4.1B
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
43
34 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
30
reported on Schedule D
History
21 filings and snapshots on the tape
RAUM$4.1B as of Mar 29, 2026
Mar 27, 2013$2.6B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 29, 2026
Mar 27, 20130 then
Employees (5.A)43 as of Mar 29, 2026
Mar 27, 201335 then
Private funds30 as of Mar 29, 2026
Mar 27, 201314 then
RAUM +14% over the last fiscal year+7.1% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 29, 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
- $137MderivedRAUM 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
- +14%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 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)
- 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$4.1B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 30reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $0 for 0 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
46 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| F•• C•••••• P••••••• V• L••• | Private Equity Fund | $966M | 47 | Mar 29, 2021 |
| F•• C•••••• P••••••• I•• L••• | Private Equity Fund | $418M | 55 | Mar 27, 2014 |
| F•• P••••••• F••• V• L••• | Private Equity Fund | $278M | 21 | Mar 29, 2021 |
| F•• P••••••• F••• I•• L••• | Private Equity Fund | $268M | 37 | Mar 27, 2014 |
| F•• P••••••• C•• L••• | Private Equity Fund | $206M | 15 | Mar 29, 2022 |
| F•• C•••••• P••••••• C•• L••• | Private Equity Fund | $202M | 47 | Mar 29, 2022 |
| F•• I••••••••• P••••••• V• L••• | Private Equity Fund | $160M | 94 | Mar 29, 2021 |
| F•• P••••••• F••• I• •••• L••• | Private Equity Fund | $131M | 6 | Mar 27, 2014 |
| F•• V• N•• C••••••••• F•••• L••• | Private Equity Fund | $94.9M | 18 | Mar 29, 2022 |
| F•• V• A••• C••••••••• F•••• L••• | Private Equity Fund | $60.6M | 10 | Mar 28, 2024 |
| F•• V• C•• C••••••••• F•••• L••• | Private Equity Fund | $58.8M | 5 | Mar 29, 2022 |
| F••••••• F•••••••• • L••• C•••••• P••••••• I• •••••••• L•••no longer reported | Private Equity Fund | $50.6M | 62 | Feb 14, 2012 |
| F•• V• A••• C••••••••• P••••••• F•••• L••• | Private Equity Fund | $29.5M | 6 | Mar 28, 2024 |
| F•• V• C••• H••••••• C••••••••• F•••• L••• | Private Equity Fund | $14.6M | 1 | Mar 29, 2022 |
| F•• P••••••• F••• I• ••••••• L••• | Private Equity Fund | $12.1M | 3 | Mar 30, 2015 |
| F•• I• C••••••••• F•••• L••• | Private Equity Fund | $11.2M | 7 | Mar 30, 2016 |
| F•• E•••••••• P••••••• V• L••• | Private Equity Fund | $10.4M | 24 | Mar 29, 2021 |
| F•• D••••••••• P••••••• I•• L••• | Private Equity Fund | $9.2M | 20 | Mar 27, 2014 |
| F•• C•••••• P••••••• I• •••• L•••no longer reported | Private Equity Fund | $8.6M | 40 | Feb 14, 2012 |
| F•• V• P•••• H••••• C••••••••• F•••• L••• | Private Equity Fund | $8.5M | 2 | Mar 30, 2023 |
| F•• I••••••••• P••••••• I•• L••• | Private Equity Fund | $8.3M | 35 | Mar 30, 2016 |
| F•• E•••••••• P••••••• I•• L••• | Private Equity Fund | $6.5M | 21 | Mar 30, 2016 |
| F•• V• A••••• C••••••••• F•••• L••• | Private Equity Fund | $5.3M | 2 | Mar 30, 2023 |
| F•• I• C••••••••• P••••••• F•••• L••• | Private Equity Fund | $4.8M | 2 | Mar 30, 2016 |
| F•• V• O•• C••••••••• F•••• L••• | Private Equity Fund | $4.4M | 2 | Mar 30, 2023 |
| F•• P••••••• F••• I• •••••••• L•••no longer reported | Private Equity Fund | $1.9M | 43 | Feb 14, 2012 |
| F•• E•••••••• P••••••• I• •••••••• L•••no longer reported | Private Equity Fund | $421,402 | 18 | Feb 14, 2012 |
| F•• P••••••• F••• I• •••• L•••no longer reported | Private Equity Fund | $414,433 | 36 | Feb 14, 2012 |
| F•• E•••••••• P••••••• I• •••• L•••no longer reported | Private Equity Fund | $281,047 | 17 | Feb 14, 2012 |
| F•• D••••••••• P••••••• I••• L••• | Private Equity Fund | $0 | 0 | Feb 14, 2012 |
| F•• C• I•••••• L••• | Private Equity Fund | $0 | 0 | Mar 29, 2017 |
| F•• C• F•••••• L••• | Private Equity Fund | $0 | 0 | Mar 29, 2022 |
| F•• E•••••••• P••••••• I••• L••• | Private Equity Fund | $0 | 0 | Feb 14, 2012 |
| F••••••• F•••••••• • L••• C•••••• P••••••• I•• L••• | Private Equity Fund | $0 | 0 | Feb 14, 2012 |
| F•• P••••••• F••• I••• L••• | Private Equity Fund | $0 | 0 | Feb 14, 2012 |
| F••••••• F•••••••• • L••• C•••••• P••••••• I••• L••• | Private Equity Fund | $0 | 0 | Feb 14, 2012 |
| F•• D••••••••• P••••••• I•• L••• | Private Equity Fund | $0 | 0 | Feb 14, 2012 |
| F•• E•••••••• P•••••••• L••• | Private Equity Fund | $0 | 0 | Feb 14, 2012 |
| F•• P••••••• F•••••• L••• | Private Equity Fund | $0 | 0 | Mar 29, 2022 |
| F••••••• F•••••••• • L••• C•••••• P•••••••• L••• | Private Equity Fund | $0 | 0 | Feb 14, 2012 |
Owners and control persons
Schedule A and B, latest filing
- D•••••• R••••• N•• · Senior Managing Membercontrolsince 07/2017 · owns less than 5%
- F••••••••• S••••••• C•••••• · Senior Managing Membercontrolsince 03/1998 · owns less than 5%
- H•••••• C••••••••• A••••• · Senior Managing Membercontrolsince 03/2016 · owns less than 5%
- L•••• G••••••• M•••••• · Senior Managing Membercontrolsince 03/2016 · owns less than 5%
- M••••• A••••• S•••••• · Senior Managing Membercontrolsince 03/2016 · owns less than 5%
- S••••••••• C••• A••••• · Senior Managing Membercontrolsince 03/2016 · owns less than 5%
- N••••••• P•••••••• A•• · Chief Financial Officer / Chief Compliance Officersince 03/2016 · owns less than 5%
Entity owners
- F•• P•••••••• L••• · Managing Memberdirect · owns 75% or more
- F•• P••••••• H•••••••• L•• · General Partnerindirect · owns F of F•• P•••••••• L•••
Related persons
Schedule D 7.A
- F•• G• C•• L•••pooled vehicle sponsorn
- F•• G• I•• L•••pooled vehicle sponsorn
- F•• G• V• L•••pooled vehicle sponsorn
- F•• G• V•• L•••pooled vehicle sponsorn
- F••••••• F•••••••• • L••• G• I•• L••pooled vehicle sponsorn
- F••••••• F•••••••• • L••• G• I••• L•pooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 28 to 30Mar 31, 2025 to Mar 29, 2026
- Advisory employees · 31 to 34Mar 31, 2025 to Mar 29, 2026
- Pooled vehicle clients · 28 to 30Mar 31, 2025 to Mar 29, 2026
- Employees · 40 to 43Mar 31, 2025 to Mar 29, 2026
- Private funds · 28 to 30Mar 31, 2025 to Mar 29, 2026
- Discretionary RAUM · $3.6B to $4.1BMar 31, 2025 to Mar 29, 2026
- Pooled vehicle RAUM · $3.6B to $4.1BMar 31, 2025 to Mar 29, 2026
- RAUM · $3.6B to $4.1BMar 31, 2025 to Mar 29, 2026
- Accounts · 23 to 28Mar 28, 2024 to Mar 31, 2025
- Advisory employees · 30 to 31Mar 28, 2024 to Mar 31, 2025
- Pooled vehicle clients · 23 to 28Mar 28, 2024 to Mar 31, 2025
- Employees · 39 to 40Mar 28, 2024 to Mar 31, 2025
- Financial planning clients · unset to Mar 28, 2024 to Mar 31, 2025
- Private funds · 34 to 28Mar 28, 2024 to Mar 31, 2025
- Discretionary RAUM · $3.0B to $3.6BMar 28, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $3.0B to $3.6BMar 28, 2024 to Mar 31, 2025
- RAUM · $3.0B to $3.6BMar 28, 2024 to Mar 31, 2025
- Accounts · 32 to 23Mar 30, 2023 to Mar 28, 2024
- Advisory employees · 27 to 30Mar 30, 2023 to Mar 28, 2024
- Pooled vehicle clients · 32 to 23Mar 30, 2023 to Mar 28, 2024
- Employees · 36 to 39Mar 30, 2023 to Mar 28, 2024
- Private funds · 38 to 34Mar 30, 2023 to Mar 28, 2024
- Discretionary RAUM · $3.3B to $3.0BMar 30, 2023 to Mar 28, 2024
- Pooled vehicle RAUM · $3.3B to $3.0BMar 30, 2023 to Mar 28, 2024
- RAUM · $3.3B to $3.0BMar 30, 2023 to Mar 28, 2024
- Accounts · 35 to 32Mar 29, 2022 to Mar 30, 2023
- Pooled vehicle clients · 35 to 32Mar 29, 2022 to Mar 30, 2023
- Employees · 37 to 36Mar 29, 2022 to Mar 30, 2023
- Private funds · 35 to 38Mar 29, 2022 to Mar 30, 2023
- Discretionary RAUM · $5.8B to $3.3BMar 29, 2022 to Mar 30, 2023
- Pooled vehicle RAUM · $5.8B to $3.3BMar 29, 2022 to Mar 30, 2023
- RAUM · $5.8B to $3.3BMar 29, 2022 to Mar 30, 2023
- Accounts · 28 to 35Sep 8, 2021 to Mar 29, 2022
- Advisory employees · 24 to 27Sep 8, 2021 to Mar 29, 2022
- Pooled vehicle clients · 28 to 35Sep 8, 2021 to Mar 29, 2022
- Employees · 35 to 37Sep 8, 2021 to Mar 29, 2022
- Private funds · 28 to 35Sep 8, 2021 to Mar 29, 2022
- Discretionary RAUM · $3.6B to $5.8BSep 8, 2021 to Mar 29, 2022
- Pooled vehicle RAUM · $3.6B to $5.8BSep 8, 2021 to Mar 29, 2022
- RAUM · $3.6B to $5.8BSep 8, 2021 to Mar 29, 2022
Signals
6 dated events
- Ffl reported RAUM $3.3B, down 43% from $5.8B (2022-03-29 to 2023-03-30)Mar 30, 2023 · RAUM change · derived
- Ffl reported RAUM $5.8B, up 63% from $3.6B (2021-09-08 to 2022-03-29)Mar 29, 2022 · RAUM change · derived
- Ffl reported RAUM $3.6B, down 27% from $4.9B (2020-03-27 to 2021-03-29)Mar 29, 2021 · RAUM change · derived
- Michael Tully Friedman (Senior Managing Member) no longer on Schedule A of Ffl (listed 2020-03-27, absent 2021-03-29)Mar 29, 2021 · Control person left · inference
- Ffl reported RAUM $4.9B, up 25% from $3.9B (2019-03-29 to 2020-03-27)Mar 27, 2020 · RAUM change · derived
- Ffl reported succeeding to the business of Another Adviser (Form ADV Item 4)Jan 23, 2017 · Succession (Item 4) · fact
Across DFX
shared identifiers only, never a name match
How to reach
public business contact points only, each with its source
- Firm profile
- LINKEDIN.COM/COMPANY/75110reportedpublic record, Form ADV, Sep 18, 2026
- Website
- w••.f•••••••••.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 415-402-2100reportedpublic record, Form ADV, Mar 29, 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