Related Fund Management, Llc
- Regulatory AUM
- $14.0B
- Discretionary
- $12.9B
- Clients
- 41
- Avg AUM / client
- $342M
- Accounts
- 41
- Employees
- 69
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 40 | $14.0B | 99.7% |
| Other | 1 | $37.5M | 0.27% |
Private funds (34)
View all →Reported in Form ADV Section 7.B.(1), filing of May 2024 · $12.4B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Related Real Estate Fund Iii, L.P. master | Real Estate Fund | Delaware | $2.2B | 105 |
| Rfm Cactus Apartments, Llc master | Real Estate Fund | Delaware | $1.9B | 2 |
| Rfm Cactus Holding Company, Llc | Real Estate Fund | Delaware | $1.5B | 1 |
| Rfm Cactus Nyss Llc | Real Estate Fund | Delaware | $1.2B | 2 |
| Related Real Estate Fund Ii L.P. master | Real Estate Fund | Delaware | $549M | 70 |
| Rfm Cactus Pe Fund I Llc | Real Estate Fund | Delaware | $482M | 1 |
| Related Real Estate Fund Iv L.P. master | Real Estate Fund | Delaware | $420M | 7 |
| Related Real Estate Debt Fund, L.P. master | Real Estate Fund | Delaware | $404M | 6 |
| Core Re Strategies I Llc master | Real Estate Fund | Delaware | $395M | 3 |
| Related Real Estate Debt Fund (Cayman), Lp | Real Estate Fund | Delaware | $270M | 10 |
| Rfm Vf Multifamily Core+ 2, Llc master | Real Estate Fund | Delaware | $260M | 2 |
| Related Opportunity Zone Fund Ii, Lp | Real Estate Fund | Delaware | $252M | 191 |
| Rfm Affordable Housing Fund Lp master | Real Estate Fund | Delaware | $246M | 9 |
| Related Opportunity Zone Fund, Lp master | Real Estate Fund | Delaware | $238M | 98 |
| Related Real Estate Debt Fund (Cayman) Iv, Lp master | Real Estate Fund | Delaware | $234M | 8 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Intermountain Healthcare Pension Plan Intermountain Health Care, Inc. | 2024 | |
| Aramco U.S. Retirement Income Plan Aramco Shared Benefits Company | 2024 |
People (5)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Metz, Justin, Everett | President | Jan 2010 (17y) | ≈ 14.06% – 50% via Sousa Holdings Llc | |
| Blau, Jeff, T | Executive Vice President | Jan 2011 (16y) | Less than 5% | |
| O'toole, Richard, L. | Executive Vice President | Jan 2011 (16y) | Less than 5% | |
| Kraus, James, L | Chief Financial Officer | Aug 2014 (12y) | Less than 5% | |
| Zacharias, Suzanne, Nmn | Chief Compliance Officer | May 2016 (10y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Rfm Holdco Llc | Managing Member | Dec 2019 | A | 75% or more |
| Arizona State Retirement System | Member | Dec 2019 | A | 10% – 25% |
| Sousa Holdings Llc | Member | Dec 2019 | B | ≈ 18.75% – 50% via Rfm Holdco Llc |
Undisclosed: 0% – 15% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Metz, Justin, Everett: 75% – 100% of Sousa Holdings Llc × 25% – 50% of Rfm Holdco Llc × 75% – 100% direct ≈ 14.06% – 50% of the firm
- Sousa Holdings Llc: 25% – 50% of Rfm Holdco Llc × 75% – 100% direct ≈ 18.75% – 50% 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 (34, $12.4B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Related Real Estate Fund Iii, L.P. | Real Estate Fund | $2.2B | $10.0M | 105 |
| Rfm Cactus Apartments, Llc | Real Estate Fund | $1.9B | $0 | 2 |
| Rfm Cactus Holding Company, Llc | Real Estate Fund | $1.5B | $0 | 1 |
| Rfm Cactus Nyss Llc | Real Estate Fund | $1.2B | $0 | 2 |
| Related Real Estate Fund Ii L.P. | Real Estate Fund | $549M | $10.0M | 70 |
| Rfm Cactus Pe Fund I Llc | Real Estate Fund | $482M | $0 | 1 |
| Related Real Estate Fund Iv L.P. | Real Estate Fund | $420M | $10.0M | 7 |
| Related Real Estate Debt Fund, L.P. | Real Estate Fund | $404M | $10.0M | 6 |
| Core Re Strategies I Llc | Real Estate Fund | $395M | $0 | 3 |
| Related Real Estate Debt Fund (Cayman), Lp | Real Estate Fund | $270M | $10.0M | 10 |
| Rfm Vf Multifamily Core+ 2, Llc | Real Estate Fund | $260M | $0 | 2 |
| Related Opportunity Zone Fund Ii, Lp | Real Estate Fund | $252M | $250K | 191 |
| Rfm Affordable Housing Fund Lp | Real Estate Fund | $246M | $10.0M | 9 |
| Related Opportunity Zone Fund, Lp | Real Estate Fund | $238M | $250K | 98 |
| Related Real Estate Debt Fund (Cayman) Iv, Lp | Real Estate Fund | $234M | $10.0M | 8 |
| Rfm Dca Pe 2 Llc | Real Estate Fund | $222M | $0 | 2 |
| Rfm Lead Credit Sma Llc | Real Estate Fund | $201M | $0 | 2 |
| Kma Rfm Oc Lender Llc | Real Estate Fund | $189M | $0 | 2 |
| Rfm Pvr, Llc | Real Estate Fund | $151M | $0 | 1 |
| Related Ubc Opportunity Fund, Lp | Real Estate Fund | $138M | $5.0M | 5 |
| Related Real Estate Debt Fund Iv, Lp | Real Estate Fund | $134M | $10.0M | 5 |
| Rfm Vf Multifamily Core+ Llc | Real Estate Fund | $108M | $0 | 2 |
| Rhre Debt Fund Iv Co Investment Fund, Lp | Real Estate Fund | $101M | $10.0M | 1 |
| Rfm Nycrs Sandy Llc | Real Estate Fund | $90.0M | $0 | 6 |
| Universe R.E., Llc | Real Estate Fund | $81.5M | $0 | 2 |
Top 25 of 34 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Retirement plans served (2)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Intermountain Healthcare Pension Plan | Intermountain Health Care, Inc. | 25,307 | $3.4B | 01/01/2024 |
| Aramco U.S. Retirement Income Plan | Aramco Shared Benefits Company | 1,416 | $1.8B | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 14.9 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
Reported custodians
- J.P. Morgan $100M (1% of AUM) May 2024
- Bank Of America, National Association $40.3M (0% of AUM) Mar 2026
- UBS $14.7M (0% of AUM) Nov 2021
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗