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
P•••••• S••••• C••••••• L•
Latest filing May 26, 2026
First filing on the tape Feb 10, 2021 · 15 filings
SEC status approved since Mar 15, 2021
RAUM
$18B
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
97
50 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
30
reported on Schedule D
History
15 filings and snapshots on the tape
RAUM$18B as of May 26, 2026
Mar 31, 2022$2.1B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of May 26, 2026
Mar 31, 20220 then
Employees (5.A)97 as of May 26, 2026
Mar 31, 202229 then
Private funds30 as of May 26, 2026
Mar 31, 20228 then
RAUM +46% over the last fiscal year+52% a year over threeIARs 0 to 0
Practice profile
derived from the filing of May 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
- $584MderivedRAUM 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
- +46%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
- 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)
- 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 hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$18B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 30reported
- 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=true related_bank=false bd_reps=3.0derived
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 |
|---|---|---|---|---|
| P•••••• S••••• E••••• P•••••••• L• | Private Equity Fund | $2.4B | 86 | Feb 10, 2021 |
| P•••••• S••••• E••••• P••••••••• L• | Private Equity Fund | $2.3B | 30 | Feb 10, 2021 |
| P•• S•••••• C•••••••• L• | Private Equity Fund | $568M | 12 | Mar 29, 2024 |
| B•••••••• C•••••• P•••••••• L• | Private Equity Fund | $409M | 2 | Mar 29, 2024 |
| P•• E• D••••••••• C••••••• I••• L• | Private Equity Fund | $385M | 3 | Mar 29, 2024 |
| P•• S••••• C••••••• L• | Private Equity Fund | $264M | 2 | Mar 31, 2022 |
| P•• E• D••••••••• C••••••• I•• L• | Private Equity Fund | $234M | 1 | Mar 30, 2023 |
| P•• E• D••••••••• C•••••••• L• | Private Equity Fund | $206M | 2 | Oct 11, 2021 |
| P•• H••• C•••••••• L• | Private Equity Fund | $200M | 2 | Mar 30, 2023 |
| P•• K• C•••••••• L• | Private Equity Fund | $178M | 4 | Mar 30, 2023 |
| P•• C••••• C•••••••• L• | Private Equity Fund | $148M | 3 | Mar 29, 2024 |
| P•••••• S••••• A•••••••• L• | Private Equity Fund | $132M | 2 | Jul 12, 2021 |
| P•• S•••• C•••••••• L• | Private Equity Fund | $124M | 5 | Mar 30, 2023 |
| P•••••• S••••• E••••• E••••••••• Q•• L• | Private Equity Fund | $113M | 4 | Jul 12, 2021 |
| P•• S••••• C••••••• I•• L• | Private Equity Fund | $111M | 3 | Mar 30, 2023 |
| P•• A••••••• C•••••••• L• | Private Equity Fund | $65.2M | 2 | Mar 29, 2024 |
| P•• G••••• C••••••• I•• L• | Private Equity Fund | $34.4M | 2 | Mar 29, 2024 |
| P•• S••••• C••••••• I•• L• | Private Equity Fund | $7.7M | 1 | Mar 31, 2022 |
| P•••••• S••••• E••••• E••••••••• L• | Private Equity Fund | $5.4M | 6 | Jul 12, 2021 |
| P•• S••••• C••••••• I••• L• | Private Equity Fund | $210,000 | 0 | Mar 30, 2023 |
| P•• G••••• C•••••••• L• | Private Equity Fund | $150 | 1 | Mar 30, 2023 |
Owners and control persons
Schedule A and B, latest filing
- D••••••••• C••••••• J•• · Chief Compliance Officercontrolsince 05/2022 · owns less than 5%
- F••••• A•••• M••• · General Counsel And Founding Partnercontrolsince 10/2020 · owns less than 5%
- M•••••••• J••••• C•••••• · Managing Partnercontrolsince 08/2020 · owns less than 5%
- W•••••• M••••••• M•••••• · Chief Financial Officer And Partnercontrolsince 10/2023 · owns less than 5%
- M•••••••• J••••• C•••••• · Limited Partnercontrolsince 02/2021 · owns 25% to 50% of P•••••• S••••• P•••••• H•••••••• L•
- M•••••••• J••••• C•••••• · Managing Membercontrolsince 08/2020 · owns 75% or more of P•••••• S••••• C•••••• H•••••••• L••
Entity owners
- P•••••• S••••• C•••••• H•••••••• L•• · General Partnerdirect · owns less than 5%
- P•••••• S••••• P•••••• H•••••••• L• · Limited Partnerdirect · owns 75% or more
- P•••••• S••••• C•••••• H•••••••• L•• · General Partnerindirect · owns F of P•••••• S••••• P•••••• H•••••••• L•
Related persons
Schedule D 7.A
- P•••••• S••••• E••••• A•••••••• L•pooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
- Menlo Park, CA1 employees
- Dubai, United Arab Emirates
What changed
consecutive filings, newest first
- Accounts · 26 to 30Mar 26, 2025 to Mar 31, 2026
- Advisory employees · 40 to 50Mar 26, 2025 to Mar 31, 2026
- BD registered reps · 0 to 3Mar 26, 2025 to Mar 31, 2026
- Pooled vehicle clients · 26 to 30Mar 26, 2025 to Mar 31, 2026
- Employees · 77 to 97Mar 26, 2025 to Mar 31, 2026
- Private funds · 26 to 30Mar 26, 2025 to Mar 31, 2026
- Discretionary RAUM · $12B to $18BMar 26, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $12B to $18BMar 26, 2025 to Mar 31, 2026
- RAUM · $12B to $18BMar 26, 2025 to Mar 31, 2026
- Related broker-dealer · false to trueMar 26, 2025 to Mar 31, 2026
- Accounts · 20 to 26Mar 29, 2024 to Mar 26, 2025
- Advisory employees · 28 to 40Mar 29, 2024 to Mar 26, 2025
- Pooled vehicle clients · 20 to 26Mar 29, 2024 to Mar 26, 2025
- Employees · 53 to 77Mar 29, 2024 to Mar 26, 2025
- Financial planning clients · unset to Mar 29, 2024 to Mar 26, 2025
- Private funds · 20 to 26Mar 29, 2024 to Mar 26, 2025
- Discretionary RAUM · $7.9B to $12BMar 29, 2024 to Mar 26, 2025
- Pooled vehicle RAUM · $7.9B to $12BMar 29, 2024 to Mar 26, 2025
- RAUM · $7.9B to $12BMar 29, 2024 to Mar 26, 2025
- Accounts · 15 to 20Nov 15, 2023 to Mar 29, 2024
- Advisory employees · 26 to 28Nov 15, 2023 to Mar 29, 2024
- Pooled vehicle clients · 15 to 20Nov 15, 2023 to Mar 29, 2024
- Employees · 34 to 53Nov 15, 2023 to Mar 29, 2024
- Other offices · 1 to 2Nov 15, 2023 to Mar 29, 2024
- Private funds · 15 to 20Nov 15, 2023 to Mar 29, 2024
- Discretionary RAUM · $4.9B to $7.9BNov 15, 2023 to Mar 29, 2024
- Pooled vehicle RAUM · $4.9B to $7.9BNov 15, 2023 to Mar 29, 2024
- RAUM · $4.9B to $7.9BNov 15, 2023 to Mar 29, 2024
- Accounts · 8 to 15Jul 14, 2022 to Mar 30, 2023
- Advisory employees · 17 to 26Jul 14, 2022 to Mar 30, 2023
- Pooled vehicle clients · 8 to 15Jul 14, 2022 to Mar 30, 2023
- Employees · 29 to 34Jul 14, 2022 to Mar 30, 2023
- Other offices · 0 to 1Jul 14, 2022 to Mar 30, 2023
- Private funds · 8 to 15Jul 14, 2022 to Mar 30, 2023
- Discretionary RAUM · $2.1B to $4.9BJul 14, 2022 to Mar 30, 2023
- Pooled vehicle RAUM · $2.1B to $4.9BJul 14, 2022 to Mar 30, 2023
- RAUM · $2.1B to $4.9BJul 14, 2022 to Mar 30, 2023
- Accounts · 6 to 8Oct 11, 2021 to Mar 31, 2022
- Advisory employees · 12 to 17Oct 11, 2021 to Mar 31, 2022
- Pooled vehicle clients · 6 to 8Oct 11, 2021 to Mar 31, 2022
Signals
9 dated events
- P•••••• S••••• C••••••• L• reported RAUM $17.5B, up 46% from $12.0B (2025-03-26 to 2026-03-31)Mar 31, 2026 · RAUM change · derived
- P•••••• S••••• C••••••• L• reported RAUM $12.0B, up 52% from $7.9B (2024-03-29 to 2025-03-26)Mar 26, 2025 · RAUM change · derived
- P•••••• S••••• C••••••• L• reported RAUM $7.9B, up 59% from $4.9B (2023-11-15 to 2024-03-29)Mar 29, 2024 · RAUM change · derived
- Concepcion Maria Walker (Chief Financial Officer And Founding Partner) no longer on Schedule A of P•••••• S••••• C••••••• L• (listed 2023-03-30, absent 2023-11-15)Nov 15, 2023 · Control person left · inference
- Michael Matthew Whelan (Chief Financial Officer And Partner) appeared on Schedule A of P•••••• S••••• C••••••• L•Nov 15, 2023 · Control person joined · fact
- P•••••• S••••• C••••••• L• reported RAUM $4.9B, up 133% from $2.1B (2022-07-14 to 2023-03-30)Mar 30, 2023 · RAUM change · derived
- P•••••• S••••• C••••••• L• reported RAUM $2.1B, up 63% from $1.3B (2021-10-11 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- P•••••• S••••• C••••••• L• reported RAUM $1.3B, up 107% from $629.9M (2021-07-12 to 2021-10-11)Oct 11, 2021 · RAUM change · derived
- P•••••• S••••• C•••••• L• filed its initial SEC registration (Form ADV)Feb 10, 2021 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- P•••••• S••••• C••••••• L• · Independent Sponsorsshared crd · capital_provider
- P•••••• S••••• C••••••• L• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/patient-square-capitalreportedpublic record, Form ADV, Sep 18, 2026
- Website
- p•••••••••.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- (650) 677-8100reportedpublic record, Form ADV, May 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