Private fund adviser · Chicago, IL
Prep Investment Advisers, L.L.C.
SEC-registered investment adviser · CRD 296631 · SEC 801-126231
At a glance
Prep Investment Advisers, L.L.C. is an SEC-registered investment adviser based in Chicago, Illinois, with $1.9 billion in regulatory assets under management as of its Form ADV filed March 31, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 1,703rd of 4,686 private fund advisers and 3,739th of 17,210 SEC-registered advisers by assets.
Main office 312-499-1952pearlmark.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.9B
- Rank among private fund advisers
- #1,703 of 4,686
- Rank among all SEC RIAs
- #3,739 of 17,210
- Rank in Illinois
- #186 of 684
- Clients
- 5
- Accounts
- 5
- Discretionary
- 100% of AUM
- Employees
- 34
- Advisory staff
- 34
- Offices
- 2
Owners and executives on its Form ADV
- Stephen R. QuazzoChief Executive Officer
- Douglas W. LyonsManaging Principal
- Robert S. PearceChief Compliance Officer
- Aldo MazzoccoBoardmember
- Jung W. LeeChair of the Board
Custody and brokerage
Custodian
Prep Investment Advisers, L.L.C.’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
Broker-dealer
Hybrid RIA
Prep Investment Advisers, L.L.C. is a hybrid RIA: 1 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Conning Asia Pacific Limited (hong Kong), Conning Asset Management LTD. (UK) and Conning Investment Products, Inc..
- Conning Asia Pacific Limited (hong Kong)
- Conning Asset Management LTD. (UK)
- Conning Investment Products, Inc. ↗CRD 120387
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 5 | $1.9B | 100% |
Private funds
Prep Investment Advisers, L.L.C. reports 5 private funds with $1.6B in gross assets: real estate funds (Form ADV Item 7.B).
Disciplinary disclosures
Prep Investment Advisers, L.L.C. 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
How it’s paid
- A percentage of assets under management
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗pearlmark.com ↗
AtlasMembers
The full record on Prep Investment Advisers, L.L.C.
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, 3 years of filings
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- Growth over one, three and five years
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- Rank against 1,864 peers of its type and size
- Locked
- Owners and executives, with titles and stakes
- 5 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 4Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Prep Investment Advisers, L.L.C. manage?
Prep Investment Advisers, L.L.C. reports $1.9 billion in regulatory assets under management across 5 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 31, 2026.
What kind of firm is Prep Investment Advisers, L.L.C.?
Prep Investment Advisers, L.L.C. is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets.
Who are Prep Investment Advisers, L.L.C.’s clients?
By assets, its largest client types are pooled investment vehicles ($1.9 billion, 5 clients).
Does Prep Investment Advisers, L.L.C. manage private funds?
Yes. It reports 5 private funds with $1.6 billion in gross assets, including real estate funds.
Does Prep Investment Advisers, L.L.C. have any disciplinary history?
Prep Investment Advisers, L.L.C. 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 Prep Investment Advisers, L.L.C.’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 (2026-03-31), 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 →