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Former SEC-registered adviser

K•••• C•••••• M••••••••• L•

Former SEC-registered adviserChicago, IllinoisCRD 328086SEC 801-128957IAPD
Latest filing Apr 8, 2025
First filing on the tape Sep 25, 2023 · 3 filings
SEC status approved since Oct 25, 2023
RAUM
$2.9B
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
44
21 advisory (5.B.1)
Offices
5
beyond the principal office
Private funds
1
reported on Schedule D
History
3 filings and snapshots on the tape
RAUM$2.9B as of Apr 8, 2025
Mar 27, 2024$6.1B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Apr 8, 2025
Mar 27, 20240 then
Employees (5.A)44 as of Apr 8, 2025
Mar 27, 202449 then
Private funds1 as of Apr 8, 2025
Mar 27, 20241 then
RAUM -52% over the last fiscal yearIARs 0 to 0offices 6 to 5
Practice profile
derived from the filing of Apr 8, 2025; 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
$733MderivedRAUM 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
-52%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
$1.1B, 3 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)
  • 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$2.9B100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
4reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$1.1B for 3 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
      2 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      K•••• M••••• L•Hedge Fund$53.3M5Mar 27, 2024
      K•••• P••••••••• F•••Hedge Fund$00Sep 25, 2023
      Owners and control persons
      Schedule A and B, latest filing
      • C••••••••• M••••• J••• · General Counsel/Chief Compliance Officercontrol
        since 03/2023 · owns less than 5%
      • P•••• J•••• K• · Chief Operating Officercontrol
        since 06/2020 · owns 25% to 50%
      • S•••• N••••••• D••••• · Chief Investment Officercontrol
        since 08/2020 · owns 50% to 75%
      • P•••• J•••• K• · Ownercontrol
        since 06/2020 · owns 25% to 50% of K•••• C•••••• M••••••••• L••
      • S•••• N••••••• D••••• · Ownercontrol
        since 08/2020 · owns 50% to 75% of K•••• C•••••• M••••••••• L••
      Entity owners
      • K•••• C•••••• M••••••••• L•• · General Partner
        direct · owns less than 5%
      Related persons
      Schedule D 7.A
      • K•••• F••• G• L••
        bankpooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      • New York, NY8 employees
      • Newport Beach, CA1 employees
      • Vancouver, WA1 employees
      • , 1 employees
      What changed
      consecutive filings, newest first
      • Advisory employees · 25 to 21
        Mar 27, 2024 to Apr 8, 2025
      • Assets in custody · $53.3M to $1.1B
        Mar 27, 2024 to Apr 8, 2025
      • Employees · 49 to 44
        Mar 27, 2024 to Apr 8, 2025
      • Financial planning clients · unset to
        Mar 27, 2024 to Apr 8, 2025
      • Other offices · 6 to 5
        Mar 27, 2024 to Apr 8, 2025
      • Discretionary RAUM · $6.1B to $2.9B
        Mar 27, 2024 to Apr 8, 2025
      • Pooled vehicle RAUM · $6.1B to $2.9B
        Mar 27, 2024 to Apr 8, 2025
      • RAUM · $6.1B to $2.9B
        Mar 27, 2024 to Apr 8, 2025
      • Accounts · 1 to 4
        Sep 25, 2023 to Mar 27, 2024
      • Pooled vehicle clients · 1 to 4
        Sep 25, 2023 to Mar 27, 2024
      • Assets in custody · unset to 53302048.0
        Sep 25, 2023 to Mar 27, 2024
      • Custody of client assets · false to true
        Sep 25, 2023 to Mar 27, 2024
      • Employees · 40 to 49
        Sep 25, 2023 to Mar 27, 2024
      • Other offices · 5 to 6
        Sep 25, 2023 to Mar 27, 2024
      • Discretionary RAUM · $6.3B to $6.1B
        Sep 25, 2023 to Mar 27, 2024
      • Pooled vehicle RAUM · $6.3B to $6.1B
        Sep 25, 2023 to Mar 27, 2024
      • RAUM · $6.3B to $6.1B
        Sep 25, 2023 to Mar 27, 2024
      • Related bank · false to true
        Sep 25, 2023 to Mar 27, 2024
      Signals
      3 dated events
      • K•••• C•••••• M••••••••• L• no longer on the SEC adviser roster (last listed 2025-09-02, RAUM $2.9B)
        Dec 20, 2025 · Left the SEC roster · derived
      • K•••• C•••••• M••••••••• L• reported RAUM $2.9B, down 52% from $6.1B (2024-03-27 to 2025-04-08)
        Apr 8, 2025 · RAUM change · derived
      • K•••• C•••••• M••••••••• L• filed its initial SEC registration (Form ADV)
        Sep 25, 2023 · 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.
      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