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

N••••••• C•••••• L•

Former SEC-registered adviserNew York, New YorkCRD 226660SEC 801-99366IAPD
Latest filing Aug 30, 2019
First filing on the tape May 29, 2015 · 16 filings
RAUM
$148M
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
6
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
16 filings and snapshots on the tape
RAUM$361M as of Mar 15, 2019
Mar 24, 2016$196M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 15, 2019
Mar 24, 20160 then
Employees (5.A)9 as of Mar 15, 2019
Mar 24, 20169 then
Private funds1 as of Mar 15, 2019
Mar 24, 20161 then
RAUM -62% over the last fiscal year-9.0% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Aug 30, 2019; 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
$73.8MderivedRAUM 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
-7.9%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
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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$148M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
2reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
noreported
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
      N••••••• C•••••• M••••• F••• L•Hedge Fund$207M51May 29, 2015
      Owners and control persons
      Schedule A and B, latest filing
      • M••••• D•••••• N•• · Chief Executive Officercontrol
        since 03/2015 · owns 75% or more
      • M•••••••• R••• · Portfolio Managercontrol
        since 03/2018 · owns less than 5%
      • S•••••• T••••••• P•••• · Chief Financial Officer / Chief Compliance Officercontrol
        since 06/2015 · owns less than 5%
      • M••••• D•••••• N•• · Membercontrol
        since 03/2015 · owns 75% or more of N••••••• C•••••• G• L••
      Entity owners
      • N••••••• C•••••• G• L•• · General Partner
        direct · owns less than 5%
      Related persons
      Schedule D 7.A
      No related person reported.
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 5 to 2
        Apr 16, 2019 to Aug 29, 2019
      • Advisory employees · 5 to 4
        Apr 16, 2019 to Aug 29, 2019
      • Pooled vehicle clients · 5 to 2
        Apr 16, 2019 to Aug 29, 2019
      • Assets in custody · 206529490.0 to unset
        Apr 16, 2019 to Aug 29, 2019
      • Custody of client assets · true to false
        Apr 16, 2019 to Aug 29, 2019
      • Employees · 9 to 6
        Apr 16, 2019 to Aug 29, 2019
      • Private funds · 1 to unset
        Apr 16, 2019 to Aug 29, 2019
      • Discretionary RAUM · $361M to $148M
        Apr 16, 2019 to Aug 29, 2019
      • Pooled vehicle RAUM · $361M to $148M
        Apr 16, 2019 to Aug 29, 2019
      • RAUM · $361M to $148M
        Apr 16, 2019 to Aug 29, 2019
      • Pooled vehicle clients · 4 to 5
        Mar 15, 2019 to Apr 16, 2019
      • Pooled vehicle RAUM · $316M to $361M
        Mar 15, 2019 to Apr 16, 2019
      • Accounts · 4 to 5
        Mar 29, 2018 to Mar 15, 2019
      • Advisory employees · 6 to 5
        Mar 29, 2018 to Mar 15, 2019
      • Assets in custody · $338M to $207M
        Mar 29, 2018 to Mar 15, 2019
      • Employees · 10 to 9
        Mar 29, 2018 to Mar 15, 2019
      • Discretionary RAUM · $392M to $361M
        Mar 29, 2018 to Mar 15, 2019
      • Pooled vehicle RAUM · $392M to $316M
        Mar 29, 2018 to Mar 15, 2019
      • RAUM · $392M to $361M
        Mar 29, 2018 to Mar 15, 2019
      • Advisory employees · 5 to 6
        Jul 28, 2017 to Mar 29, 2018
      • Pooled vehicle clients · unset to 4.0
        Jul 28, 2017 to Mar 29, 2018
      • Assets in custody · $0 to $338M
        Jul 28, 2017 to Mar 29, 2018
      • Employees · 9 to 10
        Jul 28, 2017 to Mar 29, 2018
      • Other offices · unset to 0.0
        Jul 28, 2017 to Mar 29, 2018
      • Discretionary RAUM · $338M to $392M
        Jul 28, 2017 to Mar 29, 2018
      • Pooled vehicle RAUM · unset to 392012631.0
        Jul 28, 2017 to Mar 29, 2018
      • RAUM · $338M to $392M
        Jul 28, 2017 to Mar 29, 2018
      • Accounts · 3 to 4
        Mar 30, 2017 to Jul 28, 2017
      • Assets in custody · $290M to $0
        Mar 30, 2017 to Jul 28, 2017
      • Discretionary RAUM · $290M to $338M
        Mar 30, 2017 to Jul 28, 2017
      • RAUM · $290M to $338M
        Mar 30, 2017 to Jul 28, 2017
      • Related bank · false to true
        Mar 30, 2017 to Jul 28, 2017
      • Assets in custody · $196M to $290M
        Apr 5, 2016 to Mar 30, 2017
      • Discretionary RAUM · $196M to $290M
        Apr 5, 2016 to Mar 30, 2017
      • RAUM · $196M to $290M
        Apr 5, 2016 to Mar 30, 2017
      • Advisory employees · 2 to 5
        Oct 7, 2015 to Mar 24, 2016
      • Assets in custody · $150M to $196M
        Oct 7, 2015 to Mar 24, 2016
      • Employees · 7 to 9
        Oct 7, 2015 to Mar 24, 2016
      • Discretionary RAUM · $164M to $196M
        Oct 7, 2015 to Mar 24, 2016
      • RAUM · $164M to $196M
        Oct 7, 2015 to Mar 24, 2016
      Signals
      4 dated events
      • Nmn Ori Hershkovitz (Chief Investment Officer) no longer on Schedule A of N••••••• C•••••• L• (listed 2019-04-16, absent 2019-08-29)
        Aug 29, 2019 · Control person left · inference
      • N••••••• C•••••• L• reported RAUM $147.6M, down 59% from $360.9M (2019-04-16 to 2019-08-29)
        Aug 29, 2019 · RAUM change · derived
      • Rael Mazansky (Co-Portfolio Manager) appeared on Schedule A of N••••••• C•••••• L•
        Mar 15, 2019 · Control person joined · fact
      • N••••••• C•••••• L• filed its initial SEC registration (Form ADV)
        May 29, 2015 · 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.
      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