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
Z•• P•••••••• L••
Latest filing Sep 16, 2026
First filing on the tape May 5, 2023 · 6 filings
SEC status approved since Jun 2, 2023
RAUM
$1.4B
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
4
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
6 filings and snapshots on the tape
RAUM$1.4B as of Mar 31, 2026
Mar 18, 2024$728M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 18, 20240 then
Employees (5.A)4 as of Mar 31, 2026
Mar 18, 20245 then
Private funds8 as of Mar 31, 2026
Mar 18, 20247 then
RAUM +24% over the last fiscal yearIARs 0 to 0
Practice profile
derived from the filing of Sep 16, 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
- $177MderivedRAUM 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
- +24%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
- $779M, 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
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$1.4B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 8reported
- Financial planning clients
- n/areported
- Wrap fee programs
- noreported
- Custody of client assets
- $779M for 1 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
7 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Z•• P••••••• I• L• | Private Equity Fund | $354M | 122 | Mar 18, 2024 |
| Z•• M••••••••• G•••• F••• 2• L•• | Private Equity Fund | $208M | 73 | May 5, 2023 |
| Z•• M••••••••• G••••• L•• | Private Equity Fund | $108M | 50 | Nov 27, 2020 |
| Z•• P••••••• I• P••••••• L• | Private Equity Fund | $33.8M | 14 | Mar 18, 2024 |
| Z•• M••••••••• G•••• C•••••••• F••• 2• L•• | Private Equity Fund | $11.2M | 11 | May 5, 2023 |
| Z•• M••••••••• G•••• C••••••••• L•• | Private Equity Fund | $7.7M | 2 | May 5, 2023 |
| Z•• M••••••••• G•••• P••••••• F•••• L•• | Private Equity Fund | $5.0M | 3 | Jun 30, 2021 |
Owners and control persons
Schedule A and B, latest filing
- F•••• J•••• M•••••• · Chief Compliance Officer, Chief Financial Officercontrolsince 05/2023 · owns less than 5%
- S•••••• N•••••••• J• · Co-Founder And Managing Membercontrolsince 02/2020 · owns 50% to 75%
- Z••••• L•••• · Co-Founder And Managing Membercontrolsince 02/2020 · owns 50% to 75%
Related persons
Schedule D 7.A
- Z•• M••••••••• L••investment adviserpooled vehicle sponsorn
- Z•• P••••••• I• G• L••pooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
- New York, NY2 employees
What changed
consecutive filings, newest first
- Financial planning clients · to unsetMar 31, 2026 to Sep 16, 2026
- Private funds · 8 to unsetMar 31, 2026 to Sep 16, 2026
- Succession · false to unsetMar 31, 2026 to Sep 16, 2026
- Accounts · 7 to 8Mar 6, 2025 to Mar 31, 2026
- Pooled vehicle clients · 7 to 8Mar 6, 2025 to Mar 31, 2026
- Assets in custody · $0 to $779MMar 6, 2025 to Mar 31, 2026
- Private funds · 7 to 8Mar 6, 2025 to Mar 31, 2026
- Discretionary RAUM · $1.1B to $1.4BMar 6, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $1.1B to $1.4BMar 6, 2025 to Mar 31, 2026
- RAUM · $1.1B to $1.4BMar 6, 2025 to Mar 31, 2026
- Advisory employees · 5 to 4May 31, 2024 to Mar 6, 2025
- Employees · 5 to 4May 31, 2024 to Mar 6, 2025
- Financial planning clients · unset to May 31, 2024 to Mar 6, 2025
- HQ city · unset to NEW YORKMay 31, 2024 to Mar 6, 2025
- HQ state · unset to NYMay 31, 2024 to Mar 6, 2025
- Other offices · 1 to 0May 31, 2024 to Mar 6, 2025
- Discretionary RAUM · $728M to $1.1BMay 31, 2024 to Mar 6, 2025
- Pooled vehicle RAUM · $728M to $1.1BMay 31, 2024 to Mar 6, 2025
- RAUM · $728M to $1.1BMay 31, 2024 to Mar 6, 2025
- Accounts · 5 to 7May 5, 2023 to Mar 18, 2024
- Advisory employees · 4 to 5May 5, 2023 to Mar 18, 2024
- Pooled vehicle clients · 5 to 7May 5, 2023 to Mar 18, 2024
- Employees · 4 to 5May 5, 2023 to Mar 18, 2024
- Other offices · 0 to 1May 5, 2023 to Mar 18, 2024
- Private funds · 5 to 7May 5, 2023 to Mar 18, 2024
- Discretionary RAUM · $254M to $728MMay 5, 2023 to Mar 18, 2024
- Pooled vehicle RAUM · $254M to $728MMay 5, 2023 to Mar 18, 2024
- RAUM · $254M to $728MMay 5, 2023 to Mar 18, 2024
Signals
3 dated events
- Z•• P•••••••• L•• reported RAUM $1.1B, up 57% from $728.0M (2024-05-31 to 2025-03-06)Mar 6, 2025 · RAUM change · derived
- Z•• P•••••••• L•• reported RAUM $728.0M, up 187% from $253.5M (2023-05-05 to 2024-03-18)Mar 18, 2024 · RAUM change · derived
- Z•• P•••••••• L•• filed its initial SEC registration (Form ADV)May 5, 2023 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- Z•• P•••••••• L•• · Independent Sponsorsshared crd · capital_provider
- Z•• P•••••••• L•• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/zbs-capitalreportedpublic record, Form ADV, Sep 19, 2026
- Website
- z•••••••••.comreportedpublic record, Form ADV, Sep 19, 2026
- Principal office phone
- 651-503-7768reportedpublic record, Form ADV, Sep 16, 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