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.
The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.
SEC-registered adviser
B••••••••• P•••••••••
Legal name B••••••••• S•••••••• L•••••
Latest filing Mar 31, 2026
First filing on the tape Aug 7, 2020 · 12 filings
SEC status approved since Sep 4, 2020
RAUM
$2.7B
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
94
21 advisory (5.B.1)
Offices
5
beyond the principal office
Private funds
12
reported on Schedule D
History
12 filings and snapshots on the tape
RAUM$2.7B as of Mar 31, 2026
Mar 31, 2021$558M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 31, 20210 then
Employees (5.A)94 as of Mar 31, 2026
Mar 31, 202113 then
Private funds12 as of Mar 31, 2026
Mar 31, 20211 then
RAUM +5.4% over the last fiscal year-1.7% a year over threeIARs 0 to 0offices 4 to 5
Practice profile
derived from the filing of Mar 31, 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
- $224MderivedRAUM 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
- unknownderived6 offices incl. principal (1.F.5)
- RAUM growth, one year
- +5.4%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-based, otherreportedItem 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 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 testimonials (5.L.1.c)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$2.7B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 12reported
- 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
20 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| B••••••••• P••••••••• G••••• P•••••••• I• L••• | Real Estate Fund | $2.0B | 96 | Dec 11, 2020 |
| B••••••••• P••••••••• I••••• P••••••••• L••• | Real Estate Fund | $362M | 96 | Mar 31, 2023 |
| A•••••• C••••••••• F••••• V••••••• L••• | Real Estate Fund | $87.2M | 11 | Mar 31, 2023 |
| H•••• A•••••• C••••••••• L••• | Real Estate Fund | $49.5M | 1 | Mar 31, 2022 |
| P•••••• A•••••• C••••••••• L•••no longer reported | Real Estate Fund | $29.7M | 1 | Mar 31, 2022 |
| T•• A•••••• C••••••••• L••• | Real Estate Fund | $23.8M | 1 | Mar 31, 2022 |
| D•• A•••••• C••••••••• L••• | Real Estate Fund | $22.1M | 30 | Mar 31, 2022 |
| M•••• L••• T•••••• C••••••••• L••• | Real Estate Fund | $21.7M | 4 | Mar 28, 2024 |
| J•••••• A•••••• C••••••••• L••• | Real Estate Fund | $19.8M | 1 | Mar 31, 2022 |
| L••• A•••••• C••••••••• L••• | Real Estate Fund | $19.6M | 1 | Mar 28, 2024 |
| M• P••••••• A•••••• C••••••••• L•••no longer reported | Real Estate Fund | $11.9M | 1 | Mar 31, 2022 |
| D••• A•••••• C••••••••• L••• | Real Estate Fund | $10.2M | 55 | Mar 31, 2022 |
| C••••• C•••••• A•••••• C••••••••• L•••no longer reported | Real Estate Fund | $9.9M | 1 | Mar 31, 2022 |
| G•••••• C•••••• A•••••• C••••••••• L•••no longer reported | Real Estate Fund | $9.9M | 1 | Mar 31, 2022 |
| L••••••• A•••••• C••••••••• L•••no longer reported | Real Estate Fund | $5.0M | 1 | Mar 31, 2022 |
| G•••• A••••••••• A•••••• C••••••••• L•••no longer reported | Real Estate Fund | $5.0M | 1 | Mar 31, 2022 |
| R•••• I• A•••••• C••••••••• L•••no longer reported | Real Estate Fund | $5.0M | 1 | Mar 31, 2022 |
| C•• C•••••• A•••••• C••••••••• L•••no longer reported | Real Estate Fund | $533,688 | 1 | Mar 31, 2022 |
| D••••••• A•••••• C••••••••• L•••no longer reported | Real Estate Fund | $533,688 | 1 | Mar 31, 2022 |
| B••••••••• P••••••••• E••••••• F••••• F••• I• L••• | Real Estate Fund | $0 | 23 | Mar 31, 2023 |
Owners and control persons
Schedule A and B, latest filing
- B••••••••• D••••• · Chief Executive Officercontrolsince 04/2019 · owns less than 5%
- C•••• L•••••• S•••• · Chief Financial Officercontrolsince 07/2020 · owns less than 5%
- D••••••• D•••••• W•••••• · Chief Investment Officer And Executive Vice Presidentcontrolsince 12/2021 · owns less than 5%
- H•••••••• S••••• G••••• · Chief Business Officercontrolsince 01/2023 · owns less than 5%
- W••••• J•••••••• L•••• · Senior Vice President, Legal And Chief Compliance Officercontrolsince 01/2024 · owns less than 5%
- A•••••••• H•••• · Trustteecontrolsince 06/1996 · owns F of S•••••• T•••• ••••• I•••••••••
- B••••••••• A••• · Trusteecontrolsince 02/1994 · owns F of B••••••••• F••••• T••••
- B••••••••• A•••• S••••• · Trusteecontrolsince 04/2020 · owns F of B••••• L••••• I• T••••
- B••••••••• R•••••• · Trusteecontrolsince 02/1994 · owns F of B••••••••• F••••• T••••
- B••••••••• R••••••• R•••• · Trusteecontrolsince 04/2020 · owns F of B••••• L••••• T••••
- K••••• J•••••• A•••• · Trusteecontrolsince 11/2017 · owns F of S•••••• T•••• ••••• I•••••••••
- S•••••• J••••• I••••• · Chairmancontrolsince 06/2008 · owns 25% to 50% of T•••••• S••••• P••••••••• I•••
- S•••••• R•••••• J•••••• · President, Chief Executive Officercontrolsince 01/2001 · owns 75% or more of S••••• L•••••• P•••••• C••• I•••
Entity owners
- B••••• B••••••••• O••••••• L•• · Member Managerdirect · owns 50% to 75%
- T•• B••••••••• S•••••••• L••••• · Member Managerdirect · owns 50% to 75%
- B••• O••••••• H••••••• L•• · Member Managerindirect · owns 75% or more of B••••• B••••••••• O••••••• L••
- B••••• B••••••••• H••••••• L•• · Member Managerindirect · owns 75% or more of B••••• B••••••••• O••••••• L••
- B••••• B••••••••• O••••••• H••••••• L•• · Member Managerindirect · owns 25% to 50% of B••• O••••••• H••••••• L••
- B••••• C•••••• L•• · Member Managerindirect · owns 75% or more of B••••• R••• E••••• L••
- B••••• L••••• I• T•••• · B••••• R••••• W•••••••• L••indirect · owns 50% to 75% of B••••• L••••• T••••
- B••••• L••••• T•••• · Memberindirect · owns 50% to 75% of B••••• R••••• W•••••••• L••
- B••••• R••• E••••• L•• · Member Managerindirect · owns 75% or more of B••••• B••••••••• H••••••• L••
- B••••• R••••• W•••••••• L•• · Memberindirect · owns 25% to 50% of B••• O••••••• H••••••• L••
- B••••••••• F••••• T•••• · Trustindirect · owns 75% or more of B••••• C•••••• L••
- S•••••• T•••• ••••• I••••••••• · Trustindirect · owns 25% to 50% of B••• O••••••• H••••••• L••
- S••••• L•••••• P•••••• C••• I••• · L•••••• Partnerindirect · owns 25% to 50% of T•••••• S••••• P••••••••• L•••
- T•••••• S••••• P••••••••• I••• · General Partnerindirect · owns 50% to 75% of T•••••• S••••• P••••••••• L•••
- T•••••• S••••• P••••••••• L••• · Member Managerindirect · owns 75% or more of T•• B••••••••• S•••••••• L•••••
Related persons
Schedule D 7.A
- B••••••••• P••••••••• A••••••• L•••••pooled vehicle sponsory
- B••••••••• P••••••••• E••••••• G•• L•••••pooled vehicle sponsory
- B••••••••• P••••••••• E••••••• G•• L•••••pooled vehicle sponsory
- B••••••••• P••••••••• G••••• P•••••••• I• A••••••••• L•••••pooled vehicle sponsory
- B••••••••• P••••••••• I••••• P•••••••• A••••••••• L•••••pooled vehicle sponsory
- B••••••••• T•••••• G•• L•••••pooled vehicle sponsory
- I••••• I•••••••• C••••••• I•••real estaten
- S•••••••• C••••••investment advisernRAUM $1.1B
- T•••••• S••••• P••••••••• L•••investment advisernRAUM $15B
Offices
Schedule D 1.F, the 25 largest
- New York, NY5 employees
- London, United Kingdom4 employees
- San Diego, CA4 employees
- Boston, MA1 employees
What changed
consecutive filings, newest first
- Accounts · 11 to 12Jan 30, 2026 to Mar 31, 2026
- Advisory employees · 19 to 21Jan 30, 2026 to Mar 31, 2026
- Pooled vehicle clients · 11 to 12Jan 30, 2026 to Mar 31, 2026
- Employees · 86 to 94Jan 30, 2026 to Mar 31, 2026
- Other offices · 4 to 5Jan 30, 2026 to Mar 31, 2026
- Private funds · 11 to 12Jan 30, 2026 to Mar 31, 2026
- Discretionary RAUM · $2.6B to $2.7BJan 30, 2026 to Mar 31, 2026
- Pooled vehicle RAUM · $2.6B to $2.7BJan 30, 2026 to Mar 31, 2026
- RAUM · $2.6B to $2.7BJan 30, 2026 to Mar 31, 2026
- Employees · 76 to 86May 2, 2024 to Apr 30, 2025
- Financial planning clients · unset to May 2, 2024 to Apr 30, 2025
- Discretionary RAUM · $2.6B to $2.6BMay 2, 2024 to Apr 30, 2025
- Pooled vehicle RAUM · $2.6B to $2.6BMay 2, 2024 to Apr 30, 2025
- RAUM · $2.6B to $2.6BMay 2, 2024 to Apr 30, 2025
- Accounts · 9 to 11Jan 30, 2024 to Mar 28, 2024
- Advisory employees · 18 to 19Jan 30, 2024 to Mar 28, 2024
- Pooled vehicle clients · 9 to 11Jan 30, 2024 to Mar 28, 2024
- Employees · 66 to 76Jan 30, 2024 to Mar 28, 2024
- Private funds · 9 to 11Jan 30, 2024 to Mar 28, 2024
- Discretionary RAUM · $2.8B to $2.6BJan 30, 2024 to Mar 28, 2024
- Pooled vehicle RAUM · $2.8B to $2.6BJan 30, 2024 to Mar 28, 2024
- RAUM · $2.8B to $2.6BJan 30, 2024 to Mar 28, 2024
- Accounts · 15 to 9Mar 31, 2022 to Mar 31, 2023
- Advisory employees · 11 to 18Mar 31, 2022 to Mar 31, 2023
- Pooled vehicle clients · 15 to 9Mar 31, 2022 to Mar 31, 2023
- Employees · 35 to 66Mar 31, 2022 to Mar 31, 2023
- Other offices · 3 to 4Mar 31, 2022 to Mar 31, 2023
- Private funds · 15 to 9Mar 31, 2022 to Mar 31, 2023
- Discretionary RAUM · $1.4B to $2.8BMar 31, 2022 to Mar 31, 2023
- Pooled vehicle RAUM · $1.4B to $2.8BMar 31, 2022 to Mar 31, 2023
- RAUM · $1.4B to $2.8BMar 31, 2022 to Mar 31, 2023
- Accounts · 1 to 15Mar 31, 2021 to Mar 31, 2022
- Advisory employees · 7 to 11Mar 31, 2021 to Mar 31, 2022
- Pooled vehicle clients · 1 to 15Mar 31, 2021 to Mar 31, 2022
- Employees · 13 to 35Mar 31, 2021 to Mar 31, 2022
- Private funds · 1 to 15Mar 31, 2021 to Mar 31, 2022
- Discretionary RAUM · $558M to $1.4BMar 31, 2021 to Mar 31, 2022
- Pooled vehicle RAUM · $558M to $1.4BMar 31, 2021 to Mar 31, 2022
- RAUM · $558M to $1.4BMar 31, 2021 to Mar 31, 2022
- Employees · 11 to 13Dec 11, 2020 to Mar 31, 2021
Signals
6 dated events
- Leigh Jennifer Warne (Senior Vice President, Legal And Chief Compliance Officer) appeared on Schedule A of B••••••••• P•••••••••Jan 30, 2024 · Control person joined · fact
- B••••••••• P••••••••• reported RAUM $2.8B, up 97% from $1.4B (2022-03-31 to 2023-03-31)Mar 31, 2023 · RAUM change · derived
- Gruong Susie Harborth (Chief Business Officer) appeared on Schedule A of B••••••••• P•••••••••Mar 31, 2023 · Control person joined · fact
- B••••••••• P••••••••• reported RAUM $1.4B, up 159% from $558.0M (2021-03-31 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- William Daniel D'Orazi (Chief Investment Officer And Executive Vice President) appeared on Schedule A of B••••••••• P•••••••••Mar 31, 2022 · Control person joined · fact
- B••••••••• P••••••••• filed its initial SEC registration (Form ADV)Aug 7, 2020 · 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.
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/breakthroughpropertiesreportedpublic record, Form ADV, Sep 18, 2026
- Website
- btprop.com/#reportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 213-290-3996reportedpublic record, Form ADV, Mar 31, 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
Across the graphs
B••••••••• P••••••••• 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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