Private fund adviser · Annapolis, MD
Realterm
Realterm Transportation LLC · SEC-registered investment adviser · CRD 322689 · SEC 801-128609
At a glance
Realterm is an SEC-registered investment adviser based in Annapolis, Maryland, with $10.9 billion in regulatory assets under management as of its Form ADV filed May 6, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 582nd of 4,686 private fund advisers and 1,298th of 17,210 SEC-registered advisers by assets.
Main office 410-280-1100realterm.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $11B
- Rank among private fund advisers
- #582 of 4,686
- Rank among all SEC RIAs
- #1,298 of 17,210
- Rank in Maryland
- #14 of 227
- Clients
- 16
- Accounts
- 16
- Discretionary
- 81% of AUM
- Employees
- 265
- Advisory staff
- 109
- Offices
- 17
Owners and executives on its Form ADV
- Jason S. RosenbergChief Compliance Officer
- Balazs LadosManaging Director and Fund Manager Relf
- Robert FordiChief Executive Officer and Chief Investment Officer
- stephen PanosManaging Director and Fund Manager Rlif
- Edward P. BrickleyManaging Director and Fund Manager RLF Series
- Aaron SacksManaging Director and General Counsel
- Peter G. LesburgManaging Director Capital Markets
- Duncan PickettPresident and Chief Operating Officer
- Amanda BattistChief Financial Officer Europe
- Roberta PaquinChief Financial Officer North America, and Global Accounting Officer
- Grayson WitmerManaging Director Corporate Development
- Alberto R. FossatiManaging Director and Fund Manager Relif
Custody and brokerage
Custodian
Realterm’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 16 | $11B | 100% |
Private funds
Realterm reports 13 private funds with $9.6B in gross assets: real estate funds (Form ADV Item 7.B).
Disciplinary disclosures
Realterm 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
- Other services
How it’s paid
- A percentage of assets under management
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗realterm.com ↗
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The full record on Realterm
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, 2 years of filings
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- Growth over one, three and five years
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- Rank against 950 peers of its type and size
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- Owners and executives, with titles and stakes
- 20 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Realterm manage?
Realterm reports $10.9 billion in regulatory assets under management across 16 accounts, 81% of it on a discretionary basis, on its Form ADV filed May 6, 2026.
What kind of firm is Realterm?
Realterm is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets.
Who are Realterm’s clients?
By assets, its largest client types are pooled investment vehicles ($10.9 billion, 16 clients).
Does Realterm manage private funds?
Yes. It reports 13 private funds with $9.6 billion in gross assets, including real estate funds.
Does Realterm have any disciplinary history?
Realterm 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 Realterm’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 (2026-05-06), 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 →