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

B•••••••••

Asset manager (funds and pooled vehicles)Chicago, IllinoisCRD 167311SEC 801-78091websiteIAPD
Legal name B••••••••• I••••••••• L•
Latest filing Jul 29, 2026
First filing on the tape May 15, 2013 · 21 filings
SEC status approved since May 24, 2013
RAUM
$4.5B
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
10
10 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
4
reported on Schedule D
History
21 filings and snapshots on the tape
RAUM$4.5B as of Jul 29, 2026
Mar 18, 2014$353M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Jul 29, 2026
Mar 18, 20140 then
Employees (5.A)10 as of Jul 29, 2026
Mar 18, 20147 then
Private funds4 as of Jul 29, 2026
Mar 18, 20141 then
RAUM -22% over the last fiscal year-6.0% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Jul 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
$636MderivedRAUM 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
-22%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
  • 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$4.5B100%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
7reported
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=true 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
      5 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      W••••••••• M••••• F••• L•Hedge Fund$4.6B76Mar 8, 2018
      B••••••••• M••••• F••• L•Hedge Fund$1.3B114May 15, 2013
      B••••••••• D••••••••• F••• L•no longer reportedHedge Fund$202M17Mar 8, 2022
      W••••••••• F••• L•no longer reportedHedge Fund$11.2M4Mar 30, 2015
      B••••••••• R••••••• F••• L•Hedge Fund$00Aug 15, 2024
      Owners and control persons
      Schedule A and B, latest filing
      • H•••• T••••••• M••• · President; Limited Partnercontrol
        since 02/2013 · owns 50% to 75%
      • L•••••• E•••••• J••• · Chief Financial Officer And Chief Compliance Officercontrol
        since 02/2013 · owns less than 5%
      • M•••••• E•••••• M•••••• · Partner; Limited Partnercontrol
        since 02/2013 · owns 10% to 25%
      • H•••• T••••••• M••• · Sole Membercontrol
        since 01/2013 · owns 75% or more of B••••••••• G•• L••
      • D••••• L••••• J••• · Partner; Limited Partner
        since 01/2018 · owns 5% to 10%
      • G••••• A••••••••• S••• · Partner; Limited Partner
        since 01/2021 · owns 5% to 10%
      • R•••••• A••••••••• R••••• · Partner; Limited Partner
        since 03/2013 · owns 5% to 10%
      • Z••• J••• N•• · Partner; Limited Partner
        since 01/2017 · owns 5% to 10%
      Entity owners
      • B••••••••• G•• L•• · General Partner
        direct · owns less than 5%
      Related persons
      Schedule D 7.A
      • B••••••••• F••• G• L••
        bankpooled vehicle sponsorn
      • B••••••••• R••••••• F••• G•
        bankpooled vehicle sponsorn
      • W••••••••• F••• G• L••
        bankpooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Private funds · 2 to 4
        Mar 30, 2026 to Jul 29, 2026
      • Accounts · 8 to 7
        Mar 11, 2025 to Mar 30, 2026
      • Advisory employees · 13 to 10
        Mar 11, 2025 to Mar 30, 2026
      • Pooled vehicle clients · 3 to 2
        Mar 11, 2025 to Mar 30, 2026
      • Employees · 13 to 10
        Mar 11, 2025 to Mar 30, 2026
      • Private funds · 3 to 2
        Mar 11, 2025 to Mar 30, 2026
      • Discretionary RAUM · $5.7B to $4.5B
        Mar 11, 2025 to Mar 30, 2026
      • Pooled vehicle RAUM · $5.7B to $4.5B
        Mar 11, 2025 to Mar 30, 2026
      • RAUM · $5.7B to $4.5B
        Mar 11, 2025 to Mar 30, 2026
      • Accounts · 7 to 8
        Aug 15, 2024 to Mar 11, 2025
      • Pooled vehicle clients · 2 to 3
        Aug 15, 2024 to Mar 11, 2025
      • Financial planning clients · unset to
        Aug 15, 2024 to Mar 11, 2025
      • Discretionary RAUM · $5.9B to $5.7B
        Aug 15, 2024 to Mar 11, 2025
      • Pooled vehicle RAUM · $5.9B to $5.7B
        Aug 15, 2024 to Mar 11, 2025
      • RAUM · $5.9B to $5.7B
        Aug 15, 2024 to Mar 11, 2025
      • Private funds · 2 to 3
        Mar 4, 2024 to Aug 15, 2024
      • Accounts · 8 to 7
        Feb 27, 2023 to Mar 4, 2024
      • Advisory employees · 11 to 13
        Feb 27, 2023 to Mar 4, 2024
      • Pooled vehicle clients · 3 to 2
        Feb 27, 2023 to Mar 4, 2024
      • Employees · 11 to 13
        Feb 27, 2023 to Mar 4, 2024
      • Private funds · 3 to 2
        Feb 27, 2023 to Mar 4, 2024
      • Discretionary RAUM · $5.4B to $5.9B
        Feb 27, 2023 to Mar 4, 2024
      • Pooled vehicle RAUM · $5.4B to $5.9B
        Feb 27, 2023 to Mar 4, 2024
      • RAUM · $5.4B to $5.9B
        Feb 27, 2023 to Mar 4, 2024
      • Advisory employees · 10 to 11
        Mar 8, 2022 to Feb 27, 2023
      • Employees · 10 to 11
        Mar 8, 2022 to Feb 27, 2023
      • Discretionary RAUM · $6.7B to $5.4B
        Mar 8, 2022 to Feb 27, 2023
      • Pooled vehicle RAUM · $6.7B to $5.4B
        Mar 8, 2022 to Feb 27, 2023
      • RAUM · $6.7B to $5.4B
        Mar 8, 2022 to Feb 27, 2023
      • Accounts · 7 to 8
        Aug 3, 2021 to Mar 8, 2022
      • Advisory employees · 9 to 10
        Aug 3, 2021 to Mar 8, 2022
      • Pooled vehicle clients · 2 to 3
        Aug 3, 2021 to Mar 8, 2022
      • Employees · 9 to 10
        Aug 3, 2021 to Mar 8, 2022
      • Private funds · 2 to 3
        Aug 3, 2021 to Mar 8, 2022
      • Discretionary RAUM · $5.3B to $6.7B
        Aug 3, 2021 to Mar 8, 2022
      • Pooled vehicle RAUM · $5.3B to $6.7B
        Aug 3, 2021 to Mar 8, 2022
      • RAUM · $5.3B to $6.7B
        Aug 3, 2021 to Mar 8, 2022
      • Discretionary RAUM · $3.3B to $5.3B
        Feb 26, 2020 to Mar 2, 2021
      • Pooled vehicle RAUM · $3.3B to $5.3B
        Feb 26, 2020 to Mar 2, 2021
      • RAUM · $3.3B to $5.3B
        Feb 26, 2020 to Mar 2, 2021
      Signals
      6 dated events
      • Bluespruce reported RAUM $6.7B, up 26% from $5.3B (2021-08-03 to 2022-03-08)
        Mar 8, 2022 · RAUM change · derived
      • Bluespruce reported RAUM $5.3B, up 62% from $3.3B (2020-02-26 to 2021-03-02)
        Mar 2, 2021 · RAUM change · derived
      • Bluespruce reported RAUM $3.3B, up 77% from $1.9B (2019-03-26 to 2020-02-26)
        Feb 26, 2020 · RAUM change · derived
      • Bluespruce reported RAUM $1.9B, up 165% from $703.3M (2018-03-08 to 2019-03-26)
        Mar 26, 2019 · RAUM change · derived
      • Bluespruce reported RAUM $703.3M, up 37% from $515.0M (2017-03-28 to 2018-03-08)
        Mar 8, 2018 · RAUM change · derived
      • Bluespruce filed its initial SEC registration (Form ADV)
        May 15, 2013 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      No identifier-backed link to the venture, private equity, family office or sponsor graphs.
      How to reach
      public business contact points only, each with its source
      Firm profile
      linkedin.com/company/bluespruce-investmentsreportedpublic record, Form ADV, Sep 18, 2026
      Website
      b•••••••••.comreportedpublic record, Form ADV, Sep 18, 2026
      Principal office phone
      312-533-3800reportedpublic record, Form ADV, Jul 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