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•••••••• E••••• L•
Latest filing Apr 16, 2026
First filing on the tape Jun 27, 2018 · 21 filings
SEC status approved since Jul 27, 2018
RAUM
$7.1B
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
36
21 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
19
reported on Schedule D
History
21 filings and snapshots on the tape
RAUM$7.1B as of Apr 16, 2026
Mar 29, 2019$390M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Apr 16, 2026
Mar 29, 20190 then
Employees (5.A)36 as of Apr 16, 2026
Mar 29, 20197 then
Private funds19 as of Apr 16, 2026
Mar 29, 20193 then
RAUM +15% over the last fiscal year+28% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Apr 16, 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
- $308MderivedRAUM 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
- +15%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
- $6.2B, 23 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)
- 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$7.1B100%
- Individual clients
- 0reported
- HNW clients
- 0reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 23reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $6.2B for 23 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
20 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| B•••••••• N•••••• C••••••••• L• | Private Equity Fund | $627M | 48 | Mar 26, 2024 |
| B•••••••• G•••••• C••••••••• L••• | Private Equity Fund | $555M | 45 | Jul 16, 2019 |
| B•••••••• I• L• | Private Equity Fund | $358M | 71 | Jun 27, 2018 |
| B•••••••• I••• L• | Private Equity Fund | $271M | 9 | Jun 27, 2018 |
| B•••••••• I•••• L• | Private Equity Fund | $268M | 28 | Mar 26, 2021 |
| R•• A•••••• F••• L• | Private Equity Fund | $255M | 2 | Mar 30, 2023 |
| B•••••••• P•••••• C••••••••• L••• | Private Equity Fund | $251M | 17 | Mar 29, 2022 |
| B•••••••• I•• L• | Private Equity Fund | $212M | 68 | Mar 26, 2021 |
| B•••••••• F•••••• ••• C••••••••• L••• | Private Equity Fund | $127M | 2 | Mar 25, 2020 |
| B•••••••• W•••• C••••••••• L••• | Private Equity Fund | $111M | 18 | Mar 29, 2022 |
| B•••••••• W•••• C••••••••• L••• | Private Equity Fund | $104M | 12 | Mar 29, 2022 |
| B•••••••• T•••• C••••••••• L••• | Private Equity Fund | $86.7M | 6 | Mar 29, 2022 |
| B•••••••• W•••• C••••••••• L••• | Private Equity Fund | $81.4M | 1 | Mar 29, 2022 |
| B•••••••• F•••••• C••••••••• L••• | Private Equity Fund | $76.3M | 12 | Mar 25, 2020 |
| B•••••••• T•••• C••••••••• L••• | Private Equity Fund | $46.0M | 3 | Mar 29, 2022 |
| B•••••••• D••••• C••••••••• L••• | Private Equity Fund | $44.4M | 4 | Mar 30, 2023 |
| L•••• B••• H••••••• B• L• | Private Equity Fund | $34.5M | 45 | Jun 27, 2018 |
| B•••••••• F•••••• C••••••••• L••• | Private Equity Fund | $33.7M | 4 | Mar 25, 2020 |
| B•••••••• F•••••• •••• C••••••••• L••• | Private Equity Fund | $27.5M | 1 | Mar 25, 2020 |
| B•••••••• I•••• L• | Private Equity Fund | $8.2M | 2 | Mar 30, 2023 |
Owners and control persons
Schedule A and B, latest filing
- B•••• D•••••• M•••••• · Partner, And Co-Ceocontrolsince 10/2015 · owns 50% to 75%
- T•••• P••••• H•• C•••• · Chief Financial Officer, Chief Compliance Officer And Managing Directorcontrolsince 03/2024 · owns less than 5%
- W•••••• A•••• S••••• · Partner And Co-Ceocontrolsince 10/2015 · owns 50% to 75%
- B•••• D•••••• M•••••• · Membercontrolsince 10/2015 · owns 50% to 75% of B•••••••• E••••• L••
- W•••••• A•••• S••••• · Membercontrolsince 10/2015 · owns 50% to 75% of B•••••••• E••••• L••
Entity owners
- B•••••••• E••••• L•• · G•••••• Partnerdirect · owns less than 5%
Related persons
Schedule D 7.A
- B•••••••• D••••• C•••••••• G•• L•pooled vehicle sponsorn
- B•••••••• E••••• I• G•• L•pooled vehicle sponsorn
- B•••••••• E••••• I• G•• L•pooled vehicle sponsorn
- B•••••••• F•••••• C•••••••• G•• L•pooled vehicle sponsorn
- B•••••••• G•••••• C•••••••• G•• L•pooled vehicle sponsorn
- B•••••••• N•••••• C•••••••• G•• L•pooled vehicle sponsorn
- B•••••••• P•••••• C•••••••• G•• L•pooled vehicle sponsorn
- B•••••••• T•••• C•••••••• G•pooled vehicle sponsorn
- B•••••••• W•••• C•••••••• G•• L•pooled vehicle sponsorn
- L•••• B••• H••••••• B• G•••••• P•••••• L•pooled vehicle sponsorn
- R•• A•••••• F••• G• L•pooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 29 to 23Jan 20, 2026 to Mar 30, 2026
- Advisory employees · 24 to 21Jan 20, 2026 to Mar 30, 2026
- Pooled vehicle clients · 29 to 23Jan 20, 2026 to Mar 30, 2026
- Assets in custody · $5.3B to $6.2BJan 20, 2026 to Mar 30, 2026
- Employees · 40 to 36Jan 20, 2026 to Mar 30, 2026
- Private funds · 25 to 19Jan 20, 2026 to Mar 30, 2026
- Discretionary RAUM · $6.1B to $7.1BJan 20, 2026 to Mar 30, 2026
- Pooled vehicle RAUM · $6.1B to $7.1BJan 20, 2026 to Mar 30, 2026
- RAUM · $6.1B to $7.1BJan 20, 2026 to Mar 30, 2026
- Accounts · 20 to 29Apr 12, 2024 to Mar 28, 2025
- Advisory employees · 23 to 24Apr 12, 2024 to Mar 28, 2025
- Pooled vehicle clients · 20 to 29Apr 12, 2024 to Mar 28, 2025
- Assets in custody · $3.3B to $5.3BApr 12, 2024 to Mar 28, 2025
- Employees · 37 to 40Apr 12, 2024 to Mar 28, 2025
- Financial planning clients · unset to Apr 12, 2024 to Mar 28, 2025
- Private funds · 20 to 25Apr 12, 2024 to Mar 28, 2025
- Discretionary RAUM · $4.0B to $6.1BApr 12, 2024 to Mar 28, 2025
- Pooled vehicle RAUM · $4.0B to $6.1BApr 12, 2024 to Mar 28, 2025
- RAUM · $4.0B to $6.1BApr 12, 2024 to Mar 28, 2025
- Accounts · 19 to 20May 8, 2023 to Mar 26, 2024
- Advisory employees · 19 to 23May 8, 2023 to Mar 26, 2024
- Pooled vehicle clients · 19 to 20May 8, 2023 to Mar 26, 2024
- Assets in custody · $2.4B to $3.3BMay 8, 2023 to Mar 26, 2024
- Employees · 30 to 37May 8, 2023 to Mar 26, 2024
- Private funds · 19 to 20May 8, 2023 to Mar 26, 2024
- Discretionary RAUM · $3.4B to $4.0BMay 8, 2023 to Mar 26, 2024
- Pooled vehicle RAUM · $3.4B to $4.0BMay 8, 2023 to Mar 26, 2024
- RAUM · $3.4B to $4.0BMay 8, 2023 to Mar 26, 2024
- Accounts · 16 to 19Apr 28, 2022 to Mar 30, 2023
- Advisory employees · 18 to 19Apr 28, 2022 to Mar 30, 2023
- Pooled vehicle clients · 16 to 19Apr 28, 2022 to Mar 30, 2023
- Assets in custody · $1.3B to $2.4BApr 28, 2022 to Mar 30, 2023
- Employees · 26 to 30Apr 28, 2022 to Mar 30, 2023
- Private funds · 16 to 19Apr 28, 2022 to Mar 30, 2023
- Discretionary RAUM · $3.1B to $3.4BApr 28, 2022 to Mar 30, 2023
- Pooled vehicle RAUM · $3.1B to $3.4BApr 28, 2022 to Mar 30, 2023
- RAUM · $3.1B to $3.4BApr 28, 2022 to Mar 30, 2023
- Accounts · 10 to 16Aug 3, 2021 to Mar 29, 2022
- Advisory employees · 11 to 18Aug 3, 2021 to Mar 29, 2022
- Pooled vehicle clients · 10 to 16Aug 3, 2021 to Mar 29, 2022
Signals
10 dated events
- B•••••••• E••••• L• reported RAUM $6.1B, up 52% from $4.0B (2024-04-12 to 2025-03-28)Mar 28, 2025 · RAUM change · derived
- Hsu Chung Peter Tang (Chief Financial Officer, Chief Compliance Officer And Managing Director) appeared on Schedule A of B•••••••• E••••• L•Mar 26, 2024 · Control person joined · fact
- Ivan Nestor Olmo (Chief Financial Officer, Chief Compliance Officer) no longer on Schedule A of B•••••••• E••••• L• (listed 2022-04-28, absent 2023-03-30)Mar 30, 2023 · Control person left · inference
- B•••••••• E••••• L• reported RAUM $3.1B, up 90% from $1.6B (2021-08-03 to 2022-03-29)Mar 29, 2022 · RAUM change · derived
- B•••••••• E••••• L• reported RAUM $1.6B, up 59% from $1.0B (2020-05-13 to 2021-03-26)Mar 26, 2021 · RAUM change · derived
- Ivan Nestor Olmo (Chief Financial Officer, Chief Compliance Officer) appeared on Schedule A of B•••••••• E••••• L•Jul 16, 2019 · Control person joined · fact
- B•••••••• E••••• L• reported RAUM $863.3M, up 121% from $389.9M (2019-06-17 to 2019-07-16)Jul 16, 2019 · RAUM change · derived
- C•••••••• F•••••• R•••••• (Chief Compliance Officer) no longer on Schedule A of B•••••••• E••••• L• (listed 2019-03-29, absent 2019-06-17)Jun 17, 2019 · Control person left · inference
- B•••••••• E••••• L• reported RAUM $388.1M, up 50% from $258.5M (2018-06-27 to 2018-11-27)Nov 27, 2018 · RAUM change · derived
- B•••••••• E••••• L• filed its initial SEC registration (Form ADV)Jun 27, 2018 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- B•••••••• E••••• L• · Independent Sponsorsshared crd · capital_provider
- B•••••••• E••••• L• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/butterflyequityreportedpublic record, Form ADV, Sep 19, 2026
- Website
- w••.b•••.comreportedpublic record, Form ADV, Sep 19, 2026
- Principal office phone
- 310-409-4994reportedpublic record, Form ADV, Apr 16, 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