Private fund adviser · Chicago, IL
Air Asset Management
Alternative Investment Resource, LLC · SEC-registered investment adviser · CRD 288165 · SEC 801-110958
At a glance
Air Asset Management is an SEC-registered investment adviser based in Chicago, Illinois, with $754 million in regulatory assets under management as of its Form ADV filed July 30, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 2,611th of 4,686 private fund advisers and 6,299th of 17,210 SEC-registered advisers by assets.
Main office 312-625-8385airassetmanagement.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $754M
- Rank among private fund advisers
- #2,611 of 4,686
- Rank among all SEC RIAs
- #6,299 of 17,210
- Rank in Illinois
- #300 of 684
- Clients
- 14
- Accounts
- 14
- Discretionary
- 94% of AUM
- Employees
- 18
- Advisory staff
- 5
- Offices
- 1
Owners and executives on its Form ADV
- Stephen J. LuongoChief Investment Officer
- Matthew T. SchaeferChief Compliance Officer/chief Financial Officer/chief Operating Officer
- Richard N. BeleutzCeo/managing Member
Custody and brokerage
Broker-dealer
Hybrid RIA
Air Asset Management is a hybrid RIA: 1 of its employees are also registered representatives of a broker-dealer.
Form ADV Part 1 doesn’t name an unaffiliated broker-dealer. The firm’s Part 2A brochure (Item 10) and each adviser’s record on the SEC’s adviser search do.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 13 | $707M | 94% |
| Other investment advisers | 1 | $47M | 6% |
Private funds
Air Asset Management reports 13 private funds with $612M in gross assets: hedge funds, private equity funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Air Asset Management reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Fixed fees
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗airassetmanagement.com ↗
AtlasMembers
The full record on Air Asset Management
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, 8 years of filings
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- Growth over one, three and five years
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- Rank against 2,234 peers of its type and size
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- Owners and executives, with titles and stakes
- 3 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 2Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Air Asset Management manage?
Air Asset Management reports $754 million in regulatory assets under management across 14 accounts, 94% of it on a discretionary basis, on its Form ADV filed July 30, 2026.
What kind of firm is Air Asset Management?
Air Asset Management is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets.
Who are Air Asset Management’s clients?
By assets, its largest client types are pooled investment vehicles ($707 million, 13 clients); other investment advisers ($47 million, 1 clients).
Does Air Asset Management manage private funds?
Yes. It reports 13 private funds with $612 million in gross assets, including hedge funds, private equity funds, other private funds.
Does Air Asset Management have any disciplinary history?
Air Asset Management reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Air Asset Management’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-07-30), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →