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.
SEC-registered adviser
Piper Heartland Healthcare Capital, LLC
Latest filing Mar 26, 2026
First filing on the tape Jul 13, 2020 · 15 filings
SEC status approved since Aug 13, 2020
RAUM
$218M
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
16
4 advisory (5.B.1)
Offices
3
beyond the principal office
Private funds
1
reported on Schedule D
History
15 filings and snapshots on the tape
RAUM$218M as of Mar 26, 2026
Mar 31, 2021$138M then
HNW client RAUM$0 as of Mar 26, 2026
Mar 31, 2021$0 then
State-registered IARs (5.B.3)0 as of Mar 26, 2026
Mar 31, 20210 then
Employees (5.A)16 as of Mar 26, 2026
Mar 31, 20212 then
Private funds1 as of Mar 26, 2026
Mar 31, 20211 then
RAUM -1.4% over the last fiscal year+2.5% a year over threeIARs 0 to 0offices 2 to 3
Practice profile
derived from the filing of Mar 26, 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
- $218MderivedRAUM 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
- unknownderived4 offices incl. principal (1.F.5)
- RAUM growth, one year
- -1.4%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-basedreportedItem 5.E
- Advisory activities
- portfolio management for pooled vehiclesreportedItem 5.G
- Custody
- $203M, 1 clientsreportedItem 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
- 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)
- 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$218M100%
- Individual clients
- 0reported
- HNW clients
- 0reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 1reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $203M for 1 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=true related_bank=true bd_reps=12.0derived
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
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Piper Heartland Healthcare Crossover Fund I, L.P. | Private Equity Fund | $232M | 77 | Mar 31, 2021 |
Owners and control persons
Schedule A and B, latest filing
- Lynn Alyssa Ballis · Chief Compliance Officercontrolsince 12/2022 · owns less than 5%
- Patricia Katherine Clune · Chief Financial Officercontrolsince 01/2024 · owns less than 5%
- Stephen Matthew Hemsley · Chief Executive Officer/Presidentcontrolsince 06/2020 · owns less than 5%
- Martell James Martin · Secretarycontrolsince 06/2020 · owns less than 5%
Entity owners
- Piper Sandler Investment Group Inc. · Memberdirect · owns 75% or more
- Piper Sandler Companies · Parentindirect · owns 75% or more of Piper Sandler Investment Group Inc. · public reporting company
Related persons
Schedule D 7.A
- Piper Sandler & Co.broker-dealerinvestment adviserbanknRAUM $1.3B
- Piper Sandler Advisors LLCinvestment advisernRAUM $365M
- Piper Sandler Finance Management, LLCinvestment advisernRAUM $290M
- Piper Sandler Ltd.broker-dealerinvestment adviserpooled vehicle sponsorn
- Psc Capital Partners LLCinvestment adviserpooled vehicle sponsornRAUM $241M
Advisers that list Piper Heartland Healthcare Capital, LLC as a related person
Offices
Schedule D 1.F, the 25 largest
- London, United Kingdom1 employees
- New York, NY
What changed
consecutive filings, newest first
- Employees · 17 to 16Jul 14, 2025 to Mar 26, 2026
- Other offices · 2 to 3Jul 14, 2025 to Mar 26, 2026
- Discretionary RAUM · $221M to $218MJul 14, 2025 to Mar 26, 2026
- Pooled vehicle RAUM · $221M to $218MJul 14, 2025 to Mar 26, 2026
- RAUM · $221M to $218MJul 14, 2025 to Mar 26, 2026
- Financial planning clients · unset to Mar 27, 2025 to Jul 14, 2025
- BD registered reps · 11 to 12Nov 20, 2024 to Mar 27, 2025
- Employees · 15 to 17Nov 20, 2024 to Mar 27, 2025
- Discretionary RAUM · $232M to $221MNov 20, 2024 to Mar 27, 2025
- Pooled vehicle RAUM · $232M to $221MNov 20, 2024 to Mar 27, 2025
- RAUM · $232M to $221MNov 20, 2024 to Mar 27, 2025
- BD registered reps · 9 to 11Apr 26, 2023 to Mar 27, 2024
- Employees · 12 to 15Apr 26, 2023 to Mar 27, 2024
- Other offices · 1 to 2Apr 26, 2023 to Mar 27, 2024
- Discretionary RAUM · $195M to $232MApr 26, 2023 to Mar 27, 2024
- Pooled vehicle RAUM · $195M to $232MApr 26, 2023 to Mar 27, 2024
- RAUM · $195M to $232MApr 26, 2023 to Mar 27, 2024
- Discretionary RAUM · $203M to $195MMar 29, 2023 to Apr 26, 2023
- Pooled vehicle RAUM · $203M to $195MMar 29, 2023 to Apr 26, 2023
- RAUM · $203M to $195MMar 29, 2023 to Apr 26, 2023
- Advisory employees · 2 to 4Dec 21, 2022 to Mar 29, 2023
- BD registered reps · 2 to 9Dec 21, 2022 to Mar 29, 2023
- Employees · 4 to 12Dec 21, 2022 to Mar 29, 2023
- Assets in custody · $5.0M to $203MMar 31, 2021 to Mar 31, 2022
- Custody of client assets · false to trueMar 31, 2021 to Mar 31, 2022
- Employees · 2 to 4Mar 31, 2021 to Mar 31, 2022
- Other offices · 0 to 1Mar 31, 2021 to Mar 31, 2022
- Discretionary RAUM · $138M to $203MMar 31, 2021 to Mar 31, 2022
- Pooled vehicle RAUM · $138M to $203MMar 31, 2021 to Mar 31, 2022
- RAUM · $138M to $203MMar 31, 2021 to Mar 31, 2022
- Accounts · 0 to 1Nov 11, 2020 to Mar 31, 2021
- Charity clients · unset to 0.0Nov 11, 2020 to Mar 31, 2021
- Corporate clients · unset to 0.0Nov 11, 2020 to Mar 31, 2021
- HNW clients · unset to 0.0Nov 11, 2020 to Mar 31, 2021
- Individual clients · unset to 0.0Nov 11, 2020 to Mar 31, 2021
- Pension plan clients · unset to 0.0Nov 11, 2020 to Mar 31, 2021
- Pooled vehicle clients · unset to 1.0Nov 11, 2020 to Mar 31, 2021
- Assets in custody · $0 to $5.0MNov 11, 2020 to Mar 31, 2021
- Other offices · 1 to 0Nov 11, 2020 to Mar 31, 2021
- Private funds · unset to 1Nov 11, 2020 to Mar 31, 2021
Signals
5 dated events
- Patricia Katherine Clune (Chief Financial Officer) appeared on Schedule A of Piper Heartland Healthcare Capital, LlcMar 27, 2024 · Control person joined · fact
- Lee Timothy Carter (Chief Financial Officer) no longer on Schedule A of Piper Heartland Healthcare Capital, Llc (listed 2023-04-26, absent 2024-03-27)Mar 27, 2024 · Control person left · inference
- Anncharlotte Mccague (Chief Compliance Officer) no longer on Schedule A of Piper Heartland Healthcare Capital, Llc (listed 2022-08-29, absent 2022-12-21)Dec 21, 2022 · Control person left · inference
- Lynn Alyssa Ballis (Chief Compliance Officer) appeared on Schedule A of Piper Heartland Healthcare Capital, LlcDec 21, 2022 · Control person joined · fact
- Piper Heartland Healthcare Capital Llc filed its initial SEC registration (Form ADV)Jul 13, 2020 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- Piper Heartland Healthcare Capital, LLC · Independent Sponsorsshared crd · capital_provider
- Piper Heartland Healthcare Capital, LLC · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Website
- pipersandler.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 612-303-6000reportedpublic record, Form ADV, Mar 26, 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