DFX Intelligence

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SEC-registered adviser

B•••••••• I••••••••• A•••••• L••

Asset manager (funds and pooled vehicles)Port Washington, New YorkCRD 328990SEC 801-129195website IAPD

Latest filing May 1, 2026

First filing on the tape Nov 9, 2023 · 7 filings

SEC status approved since Dec 8, 2023

RAUM

$3.5B

reported, Item 5.F

Discretionary

3.6%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

6 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

7 filings and snapshots on the tape

RAUM$3.5B as of May 1, 2026

Mar 28, 2024$1.8B then

HNW client RAUM: no history

State-registered IARs (5.B.3)0 as of May 1, 2026

Mar 28, 20240 then

Employees (5.A)9 as of May 1, 2026

Mar 28, 20247 then

Private funds5 as of May 1, 2026

Mar 28, 20241 then

RAUM +99% over the last fiscal yearIARs 0 to 0

Practice profile

derived from the filing of May 1, 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: $320MderivedRAUM over accounts (5.F.2.f)
Discretionary: 3.6%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: +99%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: $2.8B, 5 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)
marketing includes hypothetical performance (5.L.3)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Pooled investment vehicles$3.5B100%

Individual clients: n/areported
HNW clients: n/areported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 11reported
Financial planning clients: reported
Wrap fee programs: noreported
Custody of client assets: $2.8B for 5 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

Every departure Every arrival

Private funds

1 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
V•••• U••••••• C••••• P•••••••• L•••	Other Private Fund	$505M	2	Mar 28, 2024

Owners and control persons

Schedule A and B, latest filing

A•••••• C••••••••• A•••••• · Managing Partner And Co-Chief Executive Officercontrol
since 11/2023 · owns less than 5%
B••••••• J••••• M••• · Managing Partner And Co-Chief Executive Officercontrol
since 11/2023 · owns less than 5%
F•••••••• D•••••• P•••••• · Managing Partnercontrol
since 11/2023 · owns less than 5%
S••••••• A••• E•••••••• · Managing Director, General Counsel And Chief Compliance Officercontrol
since 08/2024 · owns less than 5%
A•••••• C••••••••• A•••••• · Managing Partner And Chief Compliance Officercontrol
since 11/2023 · owns 25% to 50% of B•••••••• C•••••• L•
B••••••• J••••• M••• · Managing Partnercontrol
since 11/2023 · owns 25% to 50% of B•••••••• C•••••• L•
F•••••••• D•••••• P•••••• · Managing Partnercontrol
since 11/2023 · owns 25% to 50% of B•••••••• C•••••• L•

Entity owners

B•••••••• F•• P••••••••• L• · Owner
direct · owns 75% or more
B•••••••• C•••••• L• · Owner
indirect · owns 75% or more of B•••••••• F•• P••••••••• L•

Related persons

Schedule D 7.A

No related person reported.

Offices

Schedule D 1.F, the 25 largest

Houston, TX3 employees
Newport, RI1 employees

ADV anomalies

2 against comparable advisers; where to look, not conclusions

discretionary share shiftChange between filings · filing Mar 30, 2026
discretionary share of RAUM moved from 0.0% to 70.0% between the annual amendments of 2025-03-31 and 2026-03-30
peers: asset managers, $1B to $5B (1,505)
RAUM up 50 %Change between filings · filing Mar 30, 2026
RAUM (Item 5.F) moved from $1,768,812,417 to $3,520,731,351 (+99.0%) between the annual amendments of 2025-03-31 and 2026-03-30; the peer median change was +11.0% (1367 comparable advisers, 94.0th percentile of changes)
peers: asset managers, $1B to $5B (1,367) · 94% percentile

How anomalies are measured

What changed

consecutive filings, newest first

Advisory employees · 8 to 6
Mar 30, 2026 to May 1, 2026
Employees · 12 to 9
Mar 30, 2026 to May 1, 2026
Discretionary RAUM · $2.5B to $125M
Mar 30, 2026 to May 1, 2026
Non-discretionary RAUM · $1.1B to $3.4B
Mar 30, 2026 to May 1, 2026
Accounts · 9 to 11
Mar 31, 2025 to Mar 30, 2026
Advisory employees · 7 to 8
Mar 31, 2025 to Mar 30, 2026
Pooled vehicle clients · 9 to 11
Mar 31, 2025 to Mar 30, 2026
Assets in custody · $880M to $2.8B
Mar 31, 2025 to Mar 30, 2026
Employees · 9 to 12
Mar 31, 2025 to Mar 30, 2026
Private funds · 1 to 5
Mar 31, 2025 to Mar 30, 2026
Discretionary RAUM · $0 to $2.5B
Mar 31, 2025 to Mar 30, 2026
Non-discretionary RAUM · $1.8B to $1.1B
Mar 31, 2025 to Mar 30, 2026
Pooled vehicle RAUM · $1.8B to $3.5B
Mar 31, 2025 to Mar 30, 2026
RAUM · $1.8B to $3.5B
Mar 31, 2025 to Mar 30, 2026
Assets in custody · $505M to $880M
Aug 8, 2024 to Mar 31, 2025
Employees · 8 to 9
Aug 8, 2024 to Mar 31, 2025
Financial planning clients · unset to
Aug 8, 2024 to Mar 31, 2025
Non-discretionary RAUM · $1.8B to $1.8B
Aug 8, 2024 to Mar 31, 2025
Pooled vehicle RAUM · $1.8B to $1.8B
Aug 8, 2024 to Mar 31, 2025
RAUM · $1.8B to $1.8B
Aug 8, 2024 to Mar 31, 2025
Business name · B•••••••• I••••••••• A••••••• L•• to B•••••••• I••••••••• A•••••• L••
Mar 28, 2024 to Aug 8, 2024
Employees · 7 to 8
Mar 28, 2024 to Aug 8, 2024
HQ city · NEWPORT to PORT WASHINGTON
Mar 28, 2024 to Aug 8, 2024
HQ state · RI to NY
Mar 28, 2024 to Aug 8, 2024
Legal name · B•••••••• I••••••••• A••••••• L•• to B•••••••• I••••••••• A•••••• L••
Mar 28, 2024 to Aug 8, 2024
Accounts · unset to 9.0
Nov 16, 2023 to Mar 28, 2024
Advisory employees · 5 to 7
Nov 16, 2023 to Mar 28, 2024
BD registered reps · 4 to 0
Nov 16, 2023 to Mar 28, 2024
Pooled vehicle clients · unset to 9.0
Nov 16, 2023 to Mar 28, 2024
Assets in custody · $0 to $505M
Nov 16, 2023 to Mar 28, 2024
Custody of client assets · false to true
Nov 16, 2023 to Mar 28, 2024
Employees · 5 to 7
Nov 16, 2023 to Mar 28, 2024
Private funds · unset to 1
Nov 16, 2023 to Mar 28, 2024
Discretionary RAUM · unset to 0.0
Nov 16, 2023 to Mar 28, 2024
Non-discretionary RAUM · unset to 1763681961.0
Nov 16, 2023 to Mar 28, 2024
Pooled vehicle RAUM · unset to 1763681961.0
Nov 16, 2023 to Mar 28, 2024
RAUM · unset to 1763681961.0
Nov 16, 2023 to Mar 28, 2024

Signals

3 dated events

••• Locked
Mar 30, 2026 · RAUM change · derived
••• Locked
Aug 8, 2024 · Control person joined · fact
••• Locked
Nov 9, 2023 · First SEC registration · fact

Across DFX

shared identifiers only, never a name match

B•••••••• I••••••••• A•••••• L•• · Independent Sponsors
shared crd · capital_provider

How to reach

public business contact points only, each with its source

Website: b•••••••••.comreportedpublic record, Form ADV, May 1, 2026
Principal office phone: 516-363-2004reportedpublic record, Form ADV, May 1, 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