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
M••••••••• C••••••
Legal name M••••••••• M••••••••• L•
Latest filing May 21, 2026
First filing on the tape May 14, 2018 · 19 filings
SEC status approved since Jun 15, 2018
RAUM
$3.9B
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
111
38 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
24
reported on Schedule D
History
19 filings and snapshots on the tape
RAUM$3.9B as of May 21, 2026
Mar 28, 2019$219M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of May 21, 2026
Mar 28, 20190 then
Employees (5.A)111 as of May 21, 2026
Mar 28, 201915 then
Private funds24 as of May 21, 2026
Mar 28, 20191 then
RAUM -5.3% over the last fiscal year+11% a year over threeIARs 0 to 0
Practice profile
derived from the filing of May 21, 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
- $162MderivedRAUM 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
- unknownderived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- -2.1%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)
- 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)
- an independent public accountant performs a surprise examination (9.C.1)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$3.9B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 24reported
- 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=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
21 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| M••••••••• P••••••• I•• L• | Private Equity Fund | $821M | 69 | Mar 29, 2022 |
| M••••••••• P••••••• I• L••• | Private Equity Fund | $520M | 32 | Mar 28, 2019 |
| M••••••••• C••••• C•• L• | Private Equity Fund | $411M | 44 | Mar 29, 2024 |
| M••••••••• C••••• C•••••••• P•••••••• L• | Private Equity Fund | $303M | 21 | Mar 31, 2023 |
| M••••••••• M••••••• O••••••••• F•••• L• | Private Equity Fund | $224M | 2 | Mar 30, 2021 |
| M••••••••• C•••••• C•••••••• P•••••••• L• | Private Equity Fund | $134M | 13 | Mar 31, 2023 |
| M••••••••• P••••• C••••••••• L• | Private Equity Fund | $129M | 29 | Mar 30, 2021 |
| M••••••••• C••• C•••••••• P•••••••• L• | Private Equity Fund | $113M | 20 | Mar 30, 2021 |
| M••••••••• R•••• P••• C•••••••• P•••••••• L• | Private Equity Fund | $107M | 11 | Mar 31, 2023 |
| M••••••••• F•••• C•••••••• P•••••••• L• | Private Equity Fund | $101M | 18 | Mar 29, 2022 |
| M••••••••• P••••••• I•••• L• | Private Equity Fund | $96.2M | 9 | Mar 29, 2022 |
| M••••••••• P•••••• C•••••••• P•••••••• L• | Private Equity Fund | $94.3M | 16 | Mar 29, 2024 |
| M••••••• O••••••••• F•••• L• | Private Equity Fund | $80.9M | 24 | Mar 29, 2022 |
| M••••••••• D•••••• C•••••••• P•••••••• L• | Private Equity Fund | $23.6M | 5 | Mar 29, 2024 |
| M••••••••• C••••••• C•••••••• P•••••••• L• | Private Equity Fund | $6.8M | 2 | Mar 31, 2023 |
| M••••••••• P••••••• I• F•• L• | Private Equity Fund | $5.7M | 35 | Mar 29, 2022 |
| M••••••••• F•••• X• C•••••••• P•••••••• L• | Private Equity Fund | $5.3M | 1 | Mar 31, 2023 |
| M••••••••• A••• C•••••••• P•••••••• L• | Private Equity Fund | $5.1M | 2 | Mar 29, 2024 |
| M••••••••• P••••••• I••• L• | Private Equity Fund | $1.5M | 29 | Mar 29, 2024 |
| M••••••••• P••••••• I••••• L• | Private Equity Fund | $190,782 | 6 | Mar 29, 2024 |
| M••••••••• M••••••• O••••••••• F••• I•• L• | Private Equity Fund | $0 | 5 | Mar 29, 2024 |
Owners and control persons
Schedule A and B, latest filing
- D•••••• S•••• D•••• · Limited Partner, Chief Operating Officercontrolsince 10/2017 · owns 10% to 25%
- M••••••••• M•••••• S•••••• · Limited Partner, Chief Compliance Officercontrolsince 04/2018 · owns 5% to 10%
- M••••••••• L•••••• H•••••• · Limited Partnercontrolsince 10/2017 · owns 25% to 50%
- P••••• C•••••••• S•••••• · Limited Partnercontrolsince 01/2023 · owns 5% to 10%
- S••••••• C••••••••• J•••• · Limited Partner, Chief Financial Officercontrolsince 09/2023 · owns 5% to 10%
- S••••• J•••••• W•••• · Limited Partnercontrolsince 01/2023 · owns 5% to 10%
- S••••••• J•••• M••• · Limited Partner, Chief Executive Officercontrolsince 10/2017 · owns 25% to 50%
- D•••••• S•••• D•••• · Membercontrolsince 01/2023 · owns 25% to 50% of M••• H•••••••• L••
- S••••••• J•••• M••• · Managing Membercontrolsince 05/2018 · owns 50% to 75% of M••• H•••••••• L••
Entity owners
- M••• H•••••••• L•• · General Partnerdirect · owns less than 5%
Related persons
Schedule D 7.A
- M••••••••• C••••• G•• L•investment adviserpooled vehicle sponsorn
- M••••••••• G• I• L•investment adviserpooled vehicle sponsorn
- M••••••••• G• I•• L•investment adviserpooled vehicle sponsorn
- M••••••••• G• I••• L•investment adviserpooled vehicle sponsorn
- M••••••••• M••••••• G• I•• L•investment adviserpooled vehicle sponsorn
- M••••••••• M••••••• G•• L•investment adviserpooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
- New York, NY12 employees
- Amsterdam, Netherlands10 employees
What changed
consecutive filings, newest first
- Discretionary RAUM · $4.0B to $3.9BApr 1, 2026 to May 21, 2026
- Pooled vehicle RAUM · $4.0B to $3.9BApr 1, 2026 to May 21, 2026
- RAUM · $4.0B to $3.9BApr 1, 2026 to May 21, 2026
- Employees · 116 to 111May 26, 2025 to Apr 1, 2026
- Private funds · 23 to 24May 26, 2025 to Apr 1, 2026
- Discretionary RAUM · $4.1B to $4.0BMay 26, 2025 to Apr 1, 2026
- Pooled vehicle RAUM · $4.1B to $4.0BMay 26, 2025 to Apr 1, 2026
- RAUM · $4.1B to $4.0BMay 26, 2025 to Apr 1, 2026
- Financial planning clients · unset to Apr 10, 2025 to May 26, 2025
- Accounts · 21 to 24Jun 6, 2024 to Apr 10, 2025
- Pooled vehicle clients · 21 to 24Jun 6, 2024 to Apr 10, 2025
- Employees · 142 to 116Jun 6, 2024 to Apr 10, 2025
- Private funds · 21 to 23Jun 6, 2024 to Apr 10, 2025
- Discretionary RAUM · $3.8B to $4.1BJun 6, 2024 to Apr 10, 2025
- Pooled vehicle RAUM · $3.8B to $4.1BJun 6, 2024 to Apr 10, 2025
- RAUM · $3.8B to $4.1BJun 6, 2024 to Apr 10, 2025
- Discretionary RAUM · $3.8B to $3.8BMar 29, 2024 to May 7, 2024
- Pooled vehicle RAUM · $3.8B to $3.8BMar 29, 2024 to May 7, 2024
- RAUM · $3.8B to $3.8BMar 29, 2024 to May 7, 2024
- Accounts · 14 to 21May 1, 2023 to Mar 29, 2024
- Pooled vehicle clients · 14 to 21May 1, 2023 to Mar 29, 2024
- Employees · 82 to 142May 1, 2023 to Mar 29, 2024
- Other offices · 1 to 2May 1, 2023 to Mar 29, 2024
- Private funds · 14 to 21May 1, 2023 to Mar 29, 2024
- Discretionary RAUM · $2.9B to $3.8BMay 1, 2023 to Mar 29, 2024
- Pooled vehicle RAUM · $2.9B to $3.8BMay 1, 2023 to Mar 29, 2024
- RAUM · $2.9B to $3.8BMay 1, 2023 to Mar 29, 2024
- Business name · M••••••••• M••••••••• L• to M••••••••• C••••••Mar 31, 2023 to Apr 25, 2023
- Accounts · 9 to 14Mar 29, 2022 to Mar 31, 2023
- Advisory employees · 17 to 38Mar 29, 2022 to Mar 31, 2023
- Pooled vehicle clients · 9 to 14Mar 29, 2022 to Mar 31, 2023
- Employees · 55 to 82Mar 29, 2022 to Mar 31, 2023
- Private funds · 9 to 14Mar 29, 2022 to Mar 31, 2023
- Discretionary RAUM · $1.5B to $2.9BMar 29, 2022 to Mar 31, 2023
- Non-discretionary RAUM · $309M to $0Mar 29, 2022 to Mar 31, 2023
- Pooled vehicle RAUM · $1.8B to $2.9BMar 29, 2022 to Mar 31, 2023
- RAUM · $1.8B to $2.9BMar 29, 2022 to Mar 31, 2023
- Accounts · 4 to 9Mar 30, 2021 to Mar 29, 2022
- Advisory employees · 16 to 17Mar 30, 2021 to Mar 29, 2022
- Pooled vehicle clients · 4 to 9Mar 30, 2021 to Mar 29, 2022
Signals
7 dated events
- M••••••••• C•••••• reported RAUM $3.8B, up 32% from $2.9B (2023-05-01 to 2024-03-29)Mar 29, 2024 · RAUM change · derived
- M••••••••• C•••••• reported RAUM $2.9B, up 57% from $1.8B (2022-03-29 to 2023-03-31)Mar 31, 2023 · RAUM change · derived
- M••••••••• C•••••• reported RAUM $1.8B, up 165% from $686.9M (2021-03-30 to 2022-03-29)Mar 29, 2022 · RAUM change · derived
- M••••••••• C•••••• reported RAUM $686.9M, up 43% from $479.0M (2020-04-08 to 2021-03-30)Mar 30, 2021 · RAUM change · derived
- M••••••••• C•••••• reported RAUM $426.0M, up 72% from $247.9M (2019-04-05 to 2019-07-17)Jul 17, 2019 · RAUM change · derived
- M••••••••• C•••••• reported RAUM $219.3M, up 176% from $79.5M (2018-10-04 to 2019-03-28)Mar 28, 2019 · RAUM change · derived
- M••••••••• C•••••• M••••••••• L• filed its initial SEC registration (Form ADV)May 14, 2018 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- M••••••••• C•••••• · Independent Sponsorsshared crd · capital_provider
- M••••••••• C•••••• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/middlegroundcapitalreportedpublic record, Form ADV, Sep 18, 2026
- Website
- middleground.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 859-721-1466reportedpublic record, Form ADV, May 21, 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