Lapis Advisers, Lp
- Regulatory AUM
- $789M
- Discretionary
- $789M
- Clients
- 8
- Avg AUM / client
- $98.7M
- Accounts
- 8
- Employees
- 12
AUM over time
Reported AUM from Form ADV filings, plotted by filing date · as of Mar 27, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 8 | $789M | 100.0% |
Private funds (7)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $760M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Lapis Municipal Opportunities Fund Iv Lp | Private Equity Fund | Delaware | $410M | 380 |
| Lapis Municipal Opportunities Fund Iii Lp | Private Equity Fund | Delaware | $153M | 225 |
| Lapis Municipal Opportunities Fund V Lp | Private Equity Fund | Delaware | $112M | 298 |
| Lapis Crestone Municipal Opportunities Fund Iii Lp | Private Equity Fund | Delaware | $39.1M | 2 |
| Lapis Crestone Municipal Opportunities Fund Ii Lp | Private Equity Fund | Delaware | $21.6M | 2 |
| Lapis Crestone Municipal Opportunities Fund Iv Lp | Private Equity Fund | Delaware | $13.4M | 2 |
| Lapis Crestone Municipal Opportunities Fund Lp | Private Equity Fund | Delaware | $10.6M | 2 |
People (3)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Hatch, Kjerstin, Roen | Limited Partner, Manager Of Gp | Dec 2009 (17y) | 75% or more | |
| Terrell, Barbara | Limited Partner | Dec 2013 (13y) | 10% – 25% | |
| Chavez, Frank, Ross | Chief Financial Officer | Apr 2015 (11y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Mcm Advisers, Lp | Limited Partner | Dec 2009 | A | 10% – 25% |
| Lapis Gp, Llc | General Partner | Dec 2009 | A | Less than 5% |
| Mpf Founders, Lp | Limited Partner | Jan 2009 | B | ≈ 5% – 18.75% via Mcm Advisers, Lp |
| Mpf Principals, Lp | Limited Partner | Jan 2009 | B | ≈ 2.5% – 12.5% via Mcm Advisers, Lp |
| Mcm Gp, Inc | General Partner | Jan 2006 | B | GP / trustee / elected manager of Mcm Advisers, Lp (indirect) |
Undisclosed: 0% – 5% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Mpf Founders, Lp: 50% – 75% of Mcm Advisers, Lp × 10% – 25% direct ≈ 5% – 18.75% of the firm
- Mpf Principals, Lp: 25% – 50% of Mcm Advisers, Lp × 10% – 25% direct ≈ 2.5% – 12.5% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (7, $760M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Lapis Municipal Opportunities Fund Iv Lp | Private Equity Fund | $410M | $50.0K | 380 |
| Lapis Municipal Opportunities Fund Iii Lp | Private Equity Fund | $153M | $50.0K | 225 |
| Lapis Municipal Opportunities Fund V Lp | Private Equity Fund | $112M | $50.0K | 298 |
| Lapis Crestone Municipal Opportunities Fund Iii Lp | Private Equity Fund | $39.1M | $20.0M | 2 |
| Lapis Crestone Municipal Opportunities Fund Ii Lp | Private Equity Fund | $21.6M | $20.0M | 2 |
| Lapis Crestone Municipal Opportunities Fund Iv Lp | Private Equity Fund | $13.4M | $20.0M | 2 |
| Lapis Crestone Municipal Opportunities Fund Lp | Private Equity Fund | $10.6M | $20.0M | 2 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/27/2026 | 2.93 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 27, 2026.
View current Form ADV (SEC/IAPD) ↗