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.

Former SEC-registered adviser

Chi Advisors LLC

Former SEC-registered adviserNew York, New YorkCRD 304684SEC 801-117253IAPD
Latest filing Jun 5, 2023
First filing on the tape Jul 29, 2019 · 8 filings
RAUM
$1.2B
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
34
8 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
6
$1.2B gross assets
History
8 filings and snapshots on the tape
RAUM$1.2B as of Mar 31, 2023
Mar 30, 2020$733M then
HNW client RAUM$0 as of Mar 31, 2023
Mar 30, 2020$0 then
State-registered IARs (5.B.3)0 as of Mar 31, 2023
Mar 30, 20200 then
Employees (5.A)34 as of Mar 31, 2023
Mar 30, 202031 then
Private funds6 as of Mar 31, 2023
Mar 30, 20205 then
RAUM -0.5% over the last fiscal year+16% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Jun 5, 2023; 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
$193MderivedRAUM 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
-0.5%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
$1.2B, 7 clientsreportedItem 9.A
Ownership
a bank, bancorp or trust company is a 50 percent or greater ownerderived
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)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$1.2B100%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
6reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
$1.2B for 7 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 departureEvery arrival
      Private funds
      7 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      Cowen Healthcare Investments IV LPPrivate Equity Fund$540M798Mar 29, 2022
      Cowen Healthcare Investments III LPPrivate Equity Fund$429M810Mar 30, 2020
      Cowen Healthcare Investments II LPPrivate Equity Fund$144M279May 16, 2017
      Chi Ef IV LPPrivate Equity Fund$20.0M126Mar 29, 2022
      Chi Ef III LPPrivate Equity Fund$12.7M99Mar 30, 2020
      Cowen Private Investments LPno longer reportedPrivate Equity Fund$11.3M90Mar 30, 2016
      Chi Ef II LPPrivate Equity Fund$10.8M106Mar 30, 2018
      Owners and control persons
      Schedule A and B, latest filing
      • G Michael Benwitt · General Counsel, Chief Operating Officer, Cowen Investment Management LLCcontrol
        since 01/2012 · owns less than 5%
      • Paige Ashley Latourelle · Chief Compliance Officercontrol
        since 08/2022 · owns less than 5%
      • Rachel Elizabeth Rosman · Head Of Investment Management, Cowen Investment Management LLCcontrol
        since 08/2018 · owns less than 5%
      • David James Ryan · Chief Financial Officer
        since 08/2015 · owns less than 5%
      Entity owners
      • Cowen Investment Management LLC · Managing Member
        direct · owns 75% or more
      • Cowen Inc. · Managing Member
        indirect · owns 75% or more of Cowen Investment Management LLC · public reporting company
      • Td Group US Holdings LLC · Shareholder
        indirect · owns 75% or more of Toronto Dominion (U.S.A.) Holdings, Inc. · public reporting company
      • The Toronto-Dominion Bank · Shareholder
        indirect · owns 75% or more of Td Group US Holdings LLC · public reporting company
      • Toronto Dominion (U.S.A.) Holdings, Inc. · Shareholder
        indirect · owns 75% or more of Cowen Inc.
      Related persons
      Schedule D 7.A
      Advisers that list Chi Advisors LLC as a related person
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 8 to 6
        Jan 12, 2023 to Mar 31, 2023
      • Advisory activities · 2 to 1
        Jan 12, 2023 to Mar 31, 2023
      • Assets in custody · $1.2B to $1.2B
        Jan 12, 2023 to Mar 31, 2023
      • Discretionary RAUM · $1.2B to $1.2B
        Jan 12, 2023 to Mar 31, 2023
      • Pooled vehicle RAUM · $1.2B to $1.2B
        Jan 12, 2023 to Mar 31, 2023
      • RAUM · $1.2B to $1.2B
        Jan 12, 2023 to Mar 31, 2023
      • Accounts · 7 to 8
        Mar 29, 2021 to Mar 29, 2022
      • Advisory employees · 7 to 8
        Mar 29, 2021 to Mar 29, 2022
      • Assets in custody · $935M to $1.2B
        Mar 29, 2021 to Mar 29, 2022
      • Employees · 30 to 34
        Mar 29, 2021 to Mar 29, 2022
      • Private funds · 5 to 6
        Mar 29, 2021 to Mar 29, 2022
      • Discretionary RAUM · $935M to $1.2B
        Mar 29, 2021 to Mar 29, 2022
      • Pooled vehicle RAUM · $900M to $1.2B
        Mar 29, 2021 to Mar 29, 2022
      • RAUM · $935M to $1.2B
        Mar 29, 2021 to Mar 29, 2022
      • Advisory employees · 9 to 7
        Mar 30, 2020 to Mar 29, 2021
      • BD registered reps · 1 to 0
        Mar 30, 2020 to Mar 29, 2021
      • Assets in custody · $733M to $935M
        Mar 30, 2020 to Mar 29, 2021
      • Employees · 31 to 30
        Mar 30, 2020 to Mar 29, 2021
      • Other offices · 2 to 0
        Mar 30, 2020 to Mar 29, 2021
      • Discretionary RAUM · $733M to $935M
        Mar 30, 2020 to Mar 29, 2021
      • Pooled vehicle RAUM · $690M to $900M
        Mar 30, 2020 to Mar 29, 2021
      • RAUM · $733M to $935M
        Mar 30, 2020 to Mar 29, 2021
      • Accounts · 5 to 7
        Jul 29, 2019 to Mar 30, 2020
      • Advisory employees · 6 to 9
        Jul 29, 2019 to Mar 30, 2020
      • BD registered reps · 7 to 1
        Jul 29, 2019 to Mar 30, 2020
      • Business name · COWEN ADVISORS LLC to CHI ADVISORS LLC
        Jul 29, 2019 to Mar 30, 2020
      • Pooled vehicle clients · 4 to 6
        Jul 29, 2019 to Mar 30, 2020
      • Assets in custody · $298M to $733M
        Jul 29, 2019 to Mar 30, 2020
      • Legal name · COWEN ADVISORS LLC to CHI ADVISORS LLC
        Jul 29, 2019 to Mar 30, 2020
      • Other offices · 1 to 2
        Jul 29, 2019 to Mar 30, 2020
      • Private funds · 3 to 5
        Jul 29, 2019 to Mar 30, 2020
      • Discretionary RAUM · $346M to $733M
        Jul 29, 2019 to Mar 30, 2020
      • Pooled vehicle RAUM · $298M to $690M
        Jul 29, 2019 to Mar 30, 2020
      • RAUM · $346M to $733M
        Jul 29, 2019 to Mar 30, 2020
      Signals
      5 dated events
      • Steven Fred Fraenkel (Vice Chairman, Cowen Inc.) no longer on Schedule A of Chi Advisors Llc (listed 2023-01-12, absent 2023-03-31)
        Mar 31, 2023 · Control person left · inference
      • Paige Ashley Latourelle (Chief Compliance Officer) appeared on Schedule A of Chi Advisors Llc
        Jan 12, 2023 · Control person joined · fact
      • Chi Advisors Llc reported RAUM $934.9M, up 28% from $732.5M (2020-03-30 to 2021-03-29)
        Mar 29, 2021 · RAUM change · derived
      • Chi Advisors Llc reported RAUM $732.5M, up 112% from $345.5M (2019-07-29 to 2020-03-30)
        Mar 30, 2020 · RAUM change · derived
      • Cowen Advisors Llc filed its initial SEC registration (Form ADV)
        Jul 29, 2019 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      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