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

A•••••••• R••• E••••• C••••••• L•

Former SEC-registered adviserNew York, New YorkCRD 285525SEC 801-108658websiteIAPD
Latest filing Oct 9, 2025
First filing on the tape Nov 7, 2016 · 16 filings
SEC status approved since Nov 21, 2016
RAUM
$326M
reported, Item 5.F
Discretionary
0.0%
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
2
1 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$326M as of Oct 9, 2025
Mar 24, 2017$103M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Oct 9, 2025
Mar 24, 20170 then
Employees (5.A)2 as of Oct 9, 2025
Mar 24, 201715 then
Private funds: 1
RAUM +451% over the last fiscal year+123% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Oct 9, 2025; 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
$23.3MderivedRAUM over accounts (5.F.2.f)
Discretionary
0.0%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
+451%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
otherreportedItem 5.E
Advisory activities
portfolio management for businesses and institutionsreportedItem 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)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Other investment advisers$290M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
14reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
n/areported
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
      A•••••••• R••• E••••• C••••••• L•no longer reportedReal Estate Fund$11.4M2Mar 5, 2020
      Owners and control persons
      Schedule A and B, latest filing
      • R••••• R••••• S•••••• · Chief Executive Officer, Chief Investment Officer And Chief Compliance Officercontrol
        since 07/2016 · owns less than 5%
      • T••••••••• A••••••• B•••• · Chairmancontrol
        since 07/2016 · owns less than 5%
      • F••••••• Z•••• L••• · Sole Membercontrol
        since 08/2016 · owns 75% or more of Z• S•••••• O•• L••
      • M•••• N••• N•• · Sole Membercontrol
        since 08/2016 · owns 75% or more of N• S•••••• T•• L••
      • R••••• R••••• S•••••• · Sole Member And Ownercontrol
        since 08/2016 · owns 75% or more of A•••••••• E••••••• A••••••••• G•• I•••
      • R••••• R••••• S•••••• · Sole Member And Ownercontrol
        since 08/2016 · owns 75% or more of R••••••• L••
      • T••••••••• A••••••• B•••• · Sole Membercontrol
        since 08/2016 · owns 75% or more of T• C•••••• G•••• L••
      Entity owners
      • A•••••••• R••• E••••• C•••••• G• L•• · General Partner
        direct · owns 10% to 25%
      • A•••••••• E••••••• A••••••••• G•• I••• · General Partner
        indirect · owns F of A•••••••• E••••••• A••••••••• L•
      • N• S•••••• T•• L•• · Member
        indirect · owns 25% to 50% of T•• V•••••• G•••• L••
      • R••••••• L•• · Partner
        indirect · owns 75% or more of A•••••••• E••••••• A••••••••• L•
      • S•••••• C•••••• M••••••••• G•••• L•• · Managing Member
        indirect · owns 75% or more of V•••••• A•••••••• H••••••• L••
      • T• C•••••• G•••• L•• · Member
        indirect · owns 25% to 50% of T•• V•••••• G•••• L••
      • T•• V•••••• G•••• L•• · Managing Member
        indirect · owns 75% or more of S•••••• C•••••• M••••••••• G•••• L••
      • V•••••• A•••••••• H••••••• L•• · Managing Member
        indirect · owns 75% or more of A•••••••• R••• E••••• C•••••• G• L••
      • Z• S•••••• O•• L•• · Member
        indirect · owns 25% to 50% of T•• V•••••• G•••• L••
      • A•••••••• E••••••• A••••••••• L• · Limited Partner
        direct · owns 75% or more
      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 · 3 to 14
        Nov 12, 2024 to Mar 28, 2025
      • Financial planning clients · unset to
        Nov 12, 2024 to Mar 28, 2025
      • Non-discretionary RAUM · $59.1M to $326M
        Nov 12, 2024 to Mar 28, 2025
      • RAUM · $59.1M to $326M
        Nov 12, 2024 to Mar 28, 2025
      • Accounts · 2 to 3
        Mar 31, 2023 to Mar 28, 2024
      • Non-discretionary RAUM · $29.4M to $59.1M
        Mar 31, 2023 to Mar 28, 2024
      • RAUM · $29.4M to $59.1M
        Mar 31, 2023 to Mar 28, 2024
      • Related adviser · true to false
        Mar 31, 2023 to Mar 28, 2024
      • Accounts · 1 to 2
        Mar 10, 2021 to Mar 24, 2022
      • Advisory employees · 3 to 1
        Mar 10, 2021 to Mar 24, 2022
      • Employees · 3 to 2
        Mar 10, 2021 to Mar 24, 2022
      • Non-discretionary RAUM · $1.3B to $29.4M
        Mar 10, 2021 to Mar 24, 2022
      • RAUM · $1.3B to $29.4M
        Mar 10, 2021 to Mar 24, 2022
      • Accounts · 2 to 1
        Mar 5, 2020 to Mar 10, 2021
      • Advisory employees · 4 to 3
        Mar 5, 2020 to Mar 10, 2021
      • Pooled vehicle clients · 1.0 to unset
        Mar 5, 2020 to Mar 10, 2021
      • Assets in custody · 11402000.0 to unset
        Mar 5, 2020 to Mar 10, 2021
      • Custody of client assets · true to false
        Mar 5, 2020 to Mar 10, 2021
      • Employees · 4 to 3
        Mar 5, 2020 to Mar 10, 2021
      • Private funds · 1 to unset
        Mar 5, 2020 to Mar 10, 2021
      • Discretionary RAUM · $11.4M to $0
        Mar 5, 2020 to Mar 10, 2021
      • Non-discretionary RAUM · $1.3B to $1.3B
        Mar 5, 2020 to Mar 10, 2021
      • Pooled vehicle RAUM · 11402000.0 to unset
        Mar 5, 2020 to Mar 10, 2021
      • RAUM · $1.3B to $1.3B
        Mar 5, 2020 to Mar 10, 2021
      • Accounts · 1 to 2
        Jun 6, 2019 to Mar 5, 2020
      • Advisory employees · 14 to 4
        Jun 6, 2019 to Mar 5, 2020
      • BD registered reps · 1 to 0
        Jun 6, 2019 to Mar 5, 2020
      • Pooled vehicle clients · unset to 1.0
        Jun 6, 2019 to Mar 5, 2020
      • Assets in custody · $0 to $11.4M
        Jun 6, 2019 to Mar 5, 2020
      • Custody of client assets · false to true
        Jun 6, 2019 to Mar 5, 2020
      • Employees · 15 to 4
        Jun 6, 2019 to Mar 5, 2020
      • Private funds · unset to 1
        Jun 6, 2019 to Mar 5, 2020
      • Discretionary RAUM · $0 to $11.4M
        Jun 6, 2019 to Mar 5, 2020
      • Non-discretionary RAUM · $1.1B to $1.3B
        Jun 6, 2019 to Mar 5, 2020
      • Pooled vehicle RAUM · unset to 11402000.0
        Jun 6, 2019 to Mar 5, 2020
      • RAUM · $1.1B to $1.3B
        Jun 6, 2019 to Mar 5, 2020
      • Non-discretionary RAUM · $500M to $1.1B
        Mar 29, 2018 to Mar 29, 2019
      • RAUM · $500M to $1.1B
        Mar 29, 2018 to Mar 29, 2019
      • Accounts · 2 to 1
        Mar 24, 2017 to Mar 29, 2018
      • Advisory employees · 15 to 14
        Mar 24, 2017 to Mar 29, 2018
      Signals
      8 dated events
      • A•••••••• R••• E••••• C••••••• L• no longer on the SEC adviser roster (last listed 2026-01-02, RAUM $326.0M)
        Feb 2, 2026 · Left the SEC roster · derived
      • A•••••••• R••• E••••• C••••••• L• reported RAUM $326.0M, up 451% from $59.1M (2024-11-12 to 2025-03-28)
        Mar 28, 2025 · RAUM change · derived
      • A•••••••• R••• E••••• C••••••• L• reported RAUM $29.4M, down 98% from $1.3B (2021-03-10 to 2022-03-24)
        Mar 24, 2022 · RAUM change · derived
      • George Simon Breedon (Chief Operating Officer) no longer on Schedule A of A•••••••• R••• E••••• C••••••• L• (listed 2021-03-10, absent 2022-03-24)
        Mar 24, 2022 · Control person left · inference
      • Daniel John Vavas (Chief Compliance Officer And Head Of Legal) no longer on Schedule A of A•••••••• R••• E••••• C••••••• L• (listed 2019-06-06, absent 2020-03-05)
        Mar 5, 2020 · Control person left · inference
      • A•••••••• R••• E••••• C••••••• L• reported RAUM $1.1B, up 124% from $500.3M (2018-03-29 to 2019-03-29)
        Mar 29, 2019 · RAUM change · derived
      • A•••••••• R••• E••••• C••••••• L• reported RAUM $500.3M, up 388% from $102.5M (2017-03-24 to 2018-03-29)
        Mar 29, 2018 · RAUM change · derived
      • A•••••••• R••• E••••• C••••••• L• filed its initial SEC registration (Form ADV)
        Nov 7, 2016 · 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
      Across the graphs

      A•••••••• R••• E••••• C••••••• L• is the same institution as 1 record in Real Estate Funds.

      Real Estate Funds1

      Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.

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