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

S•• C•••••• L••

Former SEC-registered adviserWashington, District of ColumbiaCRD 288220SEC 801-119204IAPD

Latest filing Apr 30, 2024

First filing on the tape Jun 30, 2020 · 9 filings

RAUM

$769M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

4 advisory (5.B.1)

Offices

beyond the principal office

Private funds

213

$770M gross assets

History

9 filings and snapshots on the tape

RAUM$725M as of Mar 29, 2024

Mar 31, 2021$334M then

HNW client RAUM: no history

State-registered IARs (5.B.3)0 as of Mar 29, 2024

Mar 31, 20210 then

Employees (5.A)4 as of Mar 29, 2024

Mar 31, 20213 then

Private funds213 as of Mar 29, 2024

Mar 31, 202158 then

RAUM -19% over the last fiscal year+32% a year over threeIARs 0 to 0

Practice profile

derived from the filing of Apr 30, 2024; 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: $3.6MderivedRAUM 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: unknownderived5 offices incl. principal (1.F.5)
RAUM growth, one year: -24%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: $769M, 213 clientsreportedItem 9.A
Ownership: no PE, bank or public-company owner found on Schedule Aderived
Advisor book size: not public; not estimatedreported

Where the RAUM sits

Form ADV Item 5.D, latest filing

Pooled investment vehicles$769M100%

Individual clients: n/areported
HNW clients: n/areported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 213reported
Financial planning clients: n/areported
Wrap fee programs: noreported
Custody of client assets: $769M for 213 clientsreported
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 departure Every arrival

Private funds

200 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
C•••••• I••••••••• L• • S••••• I••	Private Equity Fund	$191M	8	Mar 30, 2018
O••••••• S•••• L••	Private Equity Fund	$41.7M	5	Apr 20, 2017
C•••••• I••••••••• L• • S••••• 2•	Private Equity Fund	$21.2M	2	Mar 30, 2020
S•• 0••• A• S••••• O• S•• C•••••• S••••• F••• I••• L•	Private Equity Fund	$14.6M	107	Mar 31, 2022
C•••••• I••••••••• L• • S••••• A••	Private Equity Fund	$13.2M	4	Mar 30, 2020
S•• 1••• A• S••••• O• S•• C•••••• S••••• F••• I••• L•	Private Equity Fund	$13.1M	6	Mar 31, 2023
C•••••• I••••••••• L• • S••••• T••	Private Equity Fund	$11.1M	8	Mar 31, 2022
C••••••••• A• S••••• O• S•• C•••••• M• F••• L•••	Private Equity Fund	$7.9M	42	Mar 31, 2021
K••••• A• S••••• O• S•• C•••••• S••••• F••• I••• L•	Private Equity Fund	$5.4M	6	Mar 31, 2022
A•••••••• A••••• F••• Q•• L• • A•	Private Equity Fund	$5.2M	91	Mar 31, 2022
A•••••••• A••••• F••• Q•• L• • A•	Private Equity Fund	$5.1M	83	Mar 31, 2022
A•••••••• A••••• F••• Q•• L• • B•	Private Equity Fund	$5.0M	92	Mar 31, 2022
S•• S••••••••• F••• I•• A• S••••• O• S•• M••••• F••• A• L••	Private Equity Fund	$5.0M	16	Apr 20, 2017
A•••••••• A••••• F••• Q•• L• • B•	Private Equity Fund	$4.9M	94	Mar 31, 2022
A•••••••• A••••• F••• Q•• L• • B•	Private Equity Fund	$4.7M	90	Mar 31, 2023
A•••••••• A••••• F••• Q•• L• • C•	Private Equity Fund	$4.5M	83	Mar 31, 2023
I••••••• E•••••• H••••••• I•• L••	Private Equity Fund	$4.4M	2	Mar 30, 2018
A•••••••• A••••• F••• Q•• L• • B•	Private Equity Fund	$4.3M	86	Mar 31, 2023
A•• 2••• A• S••••• O• S•• C•••••• S••••• F••• I••• L•	Private Equity Fund	$4.2M	7	Mar 31, 2023
A•••••••• A••••• F••• Q•• L• • C•	Private Equity Fund	$3.9M	84	Mar 31, 2023
N••••••• V••••••• I•• A• S••••• O• S•• C•••••• S••••• F••• I••• L•	Private Equity Fund	$3.8M	35	Mar 31, 2022
A•••••••• A••••• F•••• L• • A•	Private Equity Fund	$3.6M	82	Mar 31, 2022
A•••••••• A••••• F••• Q•• L• • C•	Private Equity Fund	$3.6M	58	Mar 29, 2024
1•• C•••••• S••• F••• I•• A• S••••• O• S•• C•••••• M• F•••• L•••	Private Equity Fund	$3.5M	99	Mar 31, 2022
A•••••••• A••••• F•••• L• • C•	Private Equity Fund	$3.4M	59	Mar 31, 2023
A•••••••• A••••• F•••• L• • A•	Private Equity Fund	$3.3M	82	Mar 31, 2022
L•• 0••• A• S••••• O• S•• C•••••• S••••• F••• I••• L•	Private Equity Fund	$3.2M	80	Mar 31, 2021
A•••••••• A••••• F••• Q•• L• • D•	Private Equity Fund	$3.2M	56	Mar 29, 2024
S•• M••• 0••• A• S••••• O• S•• C•••••• S••••• F•••• L•	Private Equity Fund	$3.0M	15	Mar 29, 2019
A•••••••• A••••• F••• Q•• L• • C•	Private Equity Fund	$3.0M	66	Mar 29, 2024
D••• 0•••• N•••••••• B••• A• S••••• O• S•• C•••••• S••••• F••• I••• L•	Private Equity Fund	$3.0M	2	Mar 31, 2022
A•••••••• A••••• F••• Q•• L• • D•	Private Equity Fund	$2.8M	46	Mar 29, 2024
6•• 1••• A• S••••• O• S•• C•••••• S••••• F••• I••• L•	Private Equity Fund	$2.7M	15	Mar 31, 2023
S•• S•• 0••• A• S••••• O• S•• C•••••• S••••• F••• I•• L•	Private Equity Fund	$2.6M	42	Mar 29, 2019
C•••••• I••••••••• L• • S••••• I•••	Private Equity Fund	$2.5M	2	Mar 31, 2022
A•••••••• A••••• F•••• L• • C•	Private Equity Fund	$2.5M	54	Mar 29, 2024
A•••••••• A••••• F•••• L• • C•	Private Equity Fund	$2.4M	47	Mar 29, 2024
A•••••••• A••••• F•••• L• • C•	Private Equity Fund	$2.4M	48	Mar 31, 2023
A•••••••• A••••• F•••• L• • B•	Private Equity Fund	$2.3M	42	Mar 31, 2023
D••• 0••• A• S••••• O• S•• C•••••• S••••• F••• I••• L•	Private Equity Fund	$2.2M	2	Mar 31, 2021

All funds of S•• C•••••• L••

Owners and control persons

Schedule A and B, latest filing

B••••••• R•••••• J••• · Chief Operating Officer, Chief Compliance Officercontrol
since 02/2018 · owns less than 5%
G••••••••• S•••••• E••••• · Chief Executive Officercontrol
since 03/2017 · owns less than 5%
D•••••• N••••••• · Managercontrol
since 02/2022 · owns F of C•••••• T•••• R•••• H•••••••• L••
F•••••• J••••••• L••• · Managercontrol
since 01/2020 · owns F of A• V••••••• L••
K••••• A•••• · Managercontrol
since 01/2020 · owns F of A• V••••••• L••
R•••••••• N•••• · Membercontrol
since 07/2010 · owns 25% to 50% of C•••••• T•••• R•••• H•••••••• L••
R•••••••• N•••• · Managercontrol
since 01/2020 · owns F of A• V••••••• L••

Entity owners

A• V••••••• L•• · Member
direct · owns 75% or more
C•••••• T•••• R•••• H•••••••• L•• · Owner
indirect · owns 75% or more of A• V••••••• L••

Related persons

Schedule D 7.A

C•••••• I••••••••• L••
pooled vehicle sponsory
S•• C•••••• A••••• G• L••
pooled vehicle sponsory
S•• C•••••• M• G• L••
pooled vehicle sponsory
S•• C•••••• S••••• G• I•• L••
pooled vehicle sponsory
S•• C•••••• S••••• G• I••• L••
pooled vehicle sponsory
S•• C•••••• S••••• G• V• L••
pooled vehicle sponsory
S•• C•••••• S••••• G•• L••
pooled vehicle sponsory

Offices

Schedule D 1.F, the 25 largest

Frederick, MD1 employees
, 1 employees

What changed

consecutive filings, newest first

Assets in custody · $725M to $769M
Mar 29, 2024 to Apr 30, 2024
Discretionary RAUM · $725M to $769M
Mar 29, 2024 to Apr 30, 2024
Pooled vehicle RAUM · $725M to $769M
Mar 29, 2024 to Apr 30, 2024
RAUM · $725M to $769M
Mar 29, 2024 to Apr 30, 2024
Accounts · 237 to 213
Jun 30, 2023 to Mar 29, 2024
Pooled vehicle clients · 237 to 213
Jun 30, 2023 to Mar 29, 2024
Assets in custody · $803M to $725M
Jun 30, 2023 to Mar 29, 2024
Private funds · 237 to 213
Jun 30, 2023 to Mar 29, 2024
Discretionary RAUM · $803M to $725M
Jun 30, 2023 to Mar 29, 2024
Pooled vehicle RAUM · $803M to $725M
Jun 30, 2023 to Mar 29, 2024
RAUM · $803M to $725M
Jun 30, 2023 to Mar 29, 2024
Accounts · 276 to 237
Mar 31, 2023 to Jun 30, 2023
Pooled vehicle clients · 276 to 237
Mar 31, 2023 to Jun 30, 2023
Assets in custody · $950M to $803M
Mar 31, 2023 to Jun 30, 2023
Private funds · 249 to 237
Mar 31, 2023 to Jun 30, 2023
Discretionary RAUM · $950M to $803M
Mar 31, 2023 to Jun 30, 2023
Pooled vehicle RAUM · $950M to $803M
Mar 31, 2023 to Jun 30, 2023
RAUM · $950M to $803M
Mar 31, 2023 to Jun 30, 2023
Accounts · 198 to 276
Oct 27, 2022 to Mar 31, 2023
Advisory employees · 6 to 4
Oct 27, 2022 to Mar 31, 2023
Pooled vehicle clients · 198 to 276
Oct 27, 2022 to Mar 31, 2023
Assets in custody · $1.2B to $950M
Oct 27, 2022 to Mar 31, 2023
Employees · 6 to 4
Oct 27, 2022 to Mar 31, 2023
Other offices · 2 to 4
Oct 27, 2022 to Mar 31, 2023
Private funds · 198 to 249
Oct 27, 2022 to Mar 31, 2023
Discretionary RAUM · $1.2B to $950M
Oct 27, 2022 to Mar 31, 2023
Pooled vehicle RAUM · $1.2B to $950M
Oct 27, 2022 to Mar 31, 2023
RAUM · $1.2B to $950M
Oct 27, 2022 to Mar 31, 2023
Advisory employees · 9 to 6
Mar 31, 2022 to Oct 27, 2022
Advisory activities · 2 to 1
Mar 31, 2022 to Oct 27, 2022
BD registered reps · 1 to 0
Mar 31, 2022 to Oct 27, 2022
Employees · 9 to 6
Mar 31, 2022 to Oct 27, 2022
Accounts · 58 to 198
Dec 2, 2021 to Mar 31, 2022
Pooled vehicle clients · 58 to 198
Dec 2, 2021 to Mar 31, 2022
Assets in custody · $334M to $1.2B
Dec 2, 2021 to Mar 31, 2022
Other offices · 1 to 2
Dec 2, 2021 to Mar 31, 2022
Private funds · 58 to 198
Dec 2, 2021 to Mar 31, 2022
Discretionary RAUM · $334M to $1.2B
Dec 2, 2021 to Mar 31, 2022
Pooled vehicle RAUM · $334M to $1.2B
Dec 2, 2021 to Mar 31, 2022
RAUM · $334M to $1.2B
Dec 2, 2021 to Mar 31, 2022

Signals

8 dated events

Kevin Laws (Manager) no longer on Schedule A of S•• C•••••• L•• (listed 2023-06-30, absent 2024-03-29)
Mar 29, 2024 · Control person left · inference
Lyle Jeffrey Fagnan (Manager) appeared on Schedule A of S•• C•••••• L••
Mar 29, 2024 · Control person joined · fact
Nicholas Dubois (Manager) appeared on Schedule A of S•• C•••••• L••
Mar 29, 2024 · Control person joined · fact
(Nmn) Simon Pickert (Chief Executive Officer) no longer on Schedule A of S•• C•••••• L•• (listed 2023-03-31, absent 2023-06-30)
Jun 30, 2023 · Control person left · inference
(Nmn) Simon Pickert (Chief Executive Officer) appeared on Schedule A of S•• C•••••• L••
Oct 27, 2022 · Control person joined · fact
S•• C•••••• L•• reported RAUM $1.2B, up 257% from $334.5M (2021-12-02 to 2022-03-31)
Mar 31, 2022 · RAUM change · derived
S•• C•••••• L•• reported RAUM $334.5M, up 74% from $191.9M (2020-06-30 to 2021-03-31)
Mar 31, 2021 · RAUM change · derived
S•• C•••••• L•• filed its initial SEC registration (Form ADV)
Jun 30, 2020 · First SEC registration · fact

Across DFX

shared identifiers only, never a name match

S•• C•••••• L•• · Independent Sponsors
shared crd · capital_provider
S•• C•••••• L•• · Private Equity
shared crd · organization
S•• C•••••• L•• · Venture Capital
shared crd · organization

How to reach

public business contact points only, each with its source

Firm profile: linkedin.com/company/sax-capitalreportedpublic record, Form ADV, Sep 18, 2026
Website: saxcapital.coreportedpublic record, Form ADV, Sep 18, 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: 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