DFX Intelligence

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B•••• C•••••• M••••••••• L••

Asset manager (funds and pooled vehicles)SEC-registered2 private funds· San Diego, Californiawebsite

Asset manager (funds and pooled vehicles), based in San Diego, California, reporting $578M of regulatory assets.

Composed from this adviser's Form ADV classification, location and filed figures.

As of 2026-05-11 · the latest Form ADV filing; advisor counts and movement are read from IAPD daily

Regulatory AUM: $578M
Advisors: 0
RAUM change, 1 year: -58%
Private clients: 0.0%

See where advisers went See teams that moved

Advisors Where the RAUM sits

As of 2026-05-11 · the latest Form ADV filing; advisor counts and movement are read from IAPD daily

What matters now

3 changes
ownership and control
1 control person joined and 2 left Schedule A in the last 12 months.
A change of owner or control is when advisors reconsider where they sit and when an acquirer's retention is tested.
FactForm ADV Schedule A and Item 4For Recruiters, acquirersOwnership →
-58.4%
RAUM, one year
RAUM $1.39B to $578M (-58.4%) on the Form ADV filed 11 May 2026.
The one filed measure of whether clients are staying.
FactForm ADV Item 5History →

Every filed figure, and the identifiersCRD 330106 · SEC 801-130351 · 8 filingsShow

CRD 330106SEC 801-130351First filing on the tape Apr 24, 2024, latest May 11, 2026SEC status approved since May 24, 2024IAPD

RAUM

$578M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

Not computed

derived; firm RAUM over IAPD count

Employees

8 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

8 filings and snapshots on the tape

RAUM -58% over the last fiscal year · the tape starts Apr 24, 2024

RAUM, HNW assets, advisors, employees and funds over time5 seriesShow

RAUM$578M as of May 11, 2026

Feb 18, 2025$2.5B then

HNW client RAUM$0 as of May 11, 2026

Feb 18, 2025$0 then

State-registered IARs (5.B.3)0 as of May 11, 2026

Feb 18, 20250 then

Employees (5.A)19 as of May 11, 2026

Feb 18, 202524 then

Private funds2 as of May 11, 2026

Feb 18, 20251 then

RAUM -58% over the last fiscal yearIARs 0 to 0offices 0 to 1

Practice profile

derived from the filing of May 11, 2026; every figure names its basis

The rule behind each archetype, and every derived figureShow

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: $145MderivedRAUM 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: unknownderived2 offices incl. principal (1.F.5)
RAUM growth, one year: -58%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, fixed fees, performance-basedreportedItem 5.E
Advisory activities: portfolio management for pooled vehiclesreportedItem 5.G
Custody: $128M, 1 clientreportedItem 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)
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

100% pooled investment vehicles

The breakdown by client type, and the client counts1 client typesShow

Pooled investment vehicles$578M100%

Individual clients: 0reported
HNW clients: 0reported
Pension plan clients: 0reported
Charitable clients: 0reported
Accounts: 4reported
Financial planning clients: reported
Wrap fee programs: noreported
Custody of client assets: $128M for 1 clientreported
Compensation: % of AUM, fixed, performancereported
Class basis: RAUM: 0% private clients, 100% pooled funds, 0% institutions; no related broker-dealer; no related bankderived

Advisor movement

Left, latest

none on the tape

Joined, latest

none on the tape

Every departure Every arrival

Advisors registered through the firm

0 on IAPD today; the longest tenured first

No representative is registered through this CRD on IAPD.

Private funds

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

Fund	Type	Gross assets	Owners	First reported
B•••• C•••••• M••••• F•••• L•	Hedge Fund	$451M	14	May 11, 2026
B•••• C••••••• L••	Hedge Fund	$128M	6	Oct 11, 2024

Owners and control persons

Schedule A and B, latest filing

B••••••••• M•••••• · Vp Of Financecontrol
since 10/2024 · owns less than 5%
D••••• A••••• I•••• · Chief Executive Officercontrol
since 04/2024 · owns less than 5%
E••••• A•••••• R••• · Chief Legal Officercontrol
since 10/2024 · owns less than 5%
F••••••••• C••••••••• · Senior Managing Directorcontrol
since 10/2024 · owns less than 5%
R••••••• N••••••• T•••••• · Chief Compliance Officercontrol
since 08/2024 · owns less than 5%

All 8 control persons

B•••• H••••••• G•• L•• · Managercontrol
since 10/2024 · owns 75% or more of B•••• H•••••••• L•
D••••• A••••• I•••• · Manager And Membercontrol
since 10/2024 · owns 75% or more of B•••• H••••••• G•• L••
D••••• A••••• I•••• · Limited Partnercontrol
since 10/2024 · owns 75% or more of B•••• H•••••••• L•

Entity owners

B•••• H•••••••• L• · P••••• H•••••• C••••••
direct · owns 75% or more

Related persons

Schedule D 7.A

No related person reported.

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

ADV anomalies

1 against comparable advisers; where to look, not conclusions

RAUM down 50 %Change between filings · filing Mar 31, 2026
RAUM (Item 5.F) moved from $1,390,032,188 to $578,221,564 (-58.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was +8.0% (671 comparable advisers, 0.0th percentile of changes)
peers: asset managers, $500M to $1B (671) · 0.1% percentile

How anomalies are measured

What changed

consecutive filings, newest first

Employees · 18 to 19
Mar 31, 2026 to May 11, 2026
Related adviser · false to true
Mar 31, 2026 to May 11, 2026
Accounts · 2 to 4
Jan 6, 2026 to Mar 31, 2026
Advisory employees · 11 to 8
Jan 6, 2026 to Mar 31, 2026
Pooled vehicle clients · 2 to 4
Jan 6, 2026 to Mar 31, 2026

Full history · 33 changes

Assets in custody · $1.4B to $128M
Jan 6, 2026 to Mar 31, 2026
Employees · 19 to 18
Jan 6, 2026 to Mar 31, 2026
Discretionary RAUM · $1.4B to $578M
Jan 6, 2026 to Mar 31, 2026
Pooled vehicle RAUM · $1.4B to $578M
Jan 6, 2026 to Mar 31, 2026
RAUM · $1.4B to $578M
Jan 6, 2026 to Mar 31, 2026
Other offices · 0 to 1
Mar 31, 2025 to Jan 6, 2026
Accounts · 1 to 2
Feb 18, 2025 to Mar 31, 2025
Advisory employees · 10 to 11
Feb 18, 2025 to Mar 31, 2025
Pooled vehicle clients · 1 to 2
Feb 18, 2025 to Mar 31, 2025
Assets in custody · $2.5B to $1.4B
Feb 18, 2025 to Mar 31, 2025
Employees · 24 to 19
Feb 18, 2025 to Mar 31, 2025
Financial planning clients · unset to
Feb 18, 2025 to Mar 31, 2025
Private funds · 1 to 2
Feb 18, 2025 to Mar 31, 2025
Discretionary RAUM · $2.5B to $1.4B
Feb 18, 2025 to Mar 31, 2025
Pooled vehicle RAUM · $2.5B to $1.4B
Feb 18, 2025 to Mar 31, 2025
RAUM · $2.5B to $1.4B
Feb 18, 2025 to Mar 31, 2025
Accounts · unset to 1.0
Apr 24, 2024 to Oct 11, 2024
Advisory employees · 1 to 10
Apr 24, 2024 to Oct 11, 2024
Advisory activities · 2 to 1
Apr 24, 2024 to Oct 11, 2024
Pooled vehicle clients · 0 to 1
Apr 24, 2024 to Oct 11, 2024
Assets in custody · unset to 2543913691.0
Apr 24, 2024 to Oct 11, 2024
Custody of client assets · false to true
Apr 24, 2024 to Oct 11, 2024
Employees · 2 to 24
Apr 24, 2024 to Oct 11, 2024
Private funds · unset to 1
Apr 24, 2024 to Oct 11, 2024
Discretionary RAUM · unset to 2543913691.0
Apr 24, 2024 to Oct 11, 2024
Non-discretionary RAUM · unset to 0.0
Apr 24, 2024 to Oct 11, 2024
Pooled vehicle RAUM · $0 to $2.5B
Apr 24, 2024 to Oct 11, 2024
RAUM · unset to 2543913691.0
Apr 24, 2024 to Oct 11, 2024

Signals

20 dated events

••• Locked
May 11, 2026 · ria private fund assets change · fact
••• Locked
May 11, 2026 · ria principal change · derived
••• Locked
May 11, 2026 · ria principal change · derived
••• Locked
May 11, 2026 · ria principal change · fact
••• Locked
May 11, 2026 · Control person joined · fact

Full timeline · 20 events

••• Locked
May 11, 2026 · Control person left · inference
••• Locked
May 11, 2026 · Control person left · inference
••• Locked
May 11, 2026 · private fund first reported · fact
••• Locked
May 11, 2026 · private fund gav change · fact
••• Locked
Mar 31, 2026 · RAUM change · derived
••• Locked
Mar 31, 2025 · RAUM change · derived
••• Locked
Nov 1, 2024 · Control person joined · fact
••• Locked
Nov 1, 2024 · Control person left · inference
••• Locked
Oct 11, 2024 · Control person left · inference
••• Locked
Oct 11, 2024 · Control person joined · fact
••• Locked
Oct 11, 2024 · Control person joined · fact
••• Locked
Oct 11, 2024 · Control person joined · fact
••• Locked
Oct 11, 2024 · Control person joined · fact
••• Locked
Oct 11, 2024 · Control person joined · fact
••• Locked
Apr 24, 2024 · 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.

How to reach

public business contact points only, each with its source

Website: ••• Lockedreportedpublic record, Form ADV, May 11, 2026
Principal office phone: ••• Lockedreportedpublic record, Form ADV, May 11, 2026

Provenance

Sources, class rule and load dateForm ADV and IAPD, loaded Sep 14, 2026Show

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: Not computedderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026

Not yet on record: net advisor flow, 12 months.