Fs Tactical Advisor, Llc
- Regulatory AUM
- $279M
- Discretionary
- $279M
- Clients
- 2
- Avg AUM / client
- $139M
- Accounts
- 2
- Employees
- 183
AUM over time
Annual snapshots from Form ADV filings · as of Jun 10, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 2 | $279M | 100.0% |
Private funds (1)
Reported in Form ADV Section 7.B.(1), filing of Dec 2024 · $245M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Fs Tactical Opportunities Fund, L.P. | Private Equity Fund | Delaware | $245M | 193 |
People (5)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Forman, Michael, Craig | Managing Member Of The General Partner | Mar 2007 (19y) | 50% – 75% of Franklin Square Holdings, G.P., Llc (indirect) | |
| Adelman, David, Jason | Member | May 2007 (19y) | 50% – 75% of Franklin Square Holdings, G.P., Llc (indirect) | |
| Heller, Michael, Jay | Trustee | Jan 2012 (15y) | GP / trustee / elected manager of The 2011 Forman Investment Trust (indirect) | |
| Bryant, Marc, Robert | Chief Legal Officer | May 2019 (7y) | Less than 5% | |
| Mann, William, David | Dcco | Mar 2020 (6y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Fsjv Holdco, Llc | Member | Mar 2018 | A | 75% or more |
| Fsh Advisor Fee Holdings, Llc | Member | Jun 2023 | A | 10% – 25% |
| Franklin Square Holdings, L.P. | Member | Jun 2023 | B | ≈ 7.5% – 25% via Fsh Advisor Fee Holdings, Llc |
| Fsh Holdco Llc | Member | Jun 2023 | B | 75% or more of Fsh Holdco Sub, Llc (indirect) |
| Fsh Nci Aggregator, Llc | Limited Partner | Jun 2023 | B | ≈ 1.88% – 12.5% via Franklin Square Holdings, L.P. |
| The 2011 Forman Investment Trust | Member | Jun 2023 | B | ≈ 0.47% – 6.25% via Fsh Nci Aggregator, Llc |
| Fb Capital Partners, L.P. | Member | Jun 2023 | B | ≈ 0.47% – 6.25% via Fsh Nci Aggregator, Llc |
| Franklin Square Holdings, G.P., Llc | General Partner | May 2007 | B | GP / trustee / elected manager of Franklin Square Holdings, L.P. (indirect) |
| Fb Capital Management, Llc | General Partner | Jan 2013 | B | GP / trustee / elected manager of Fb Capital Partners, L.P. (indirect) |
| Fsh Advisor Fee Holdings Llc | Member | Jun 2023 | B | GP / trustee / elected manager of Fsjv Holdco, Llc (indirect) |
| Fsh Holdco Sub, Llc | Member | Jun 2023 | B | GP / trustee / elected manager of Fsjv Holdco, Llc (indirect) |
Undisclosed: 0% – 15% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Franklin Square Holdings, L.P.: 75% – 100% of Fsh Advisor Fee Holdings, Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Fsh Nci Aggregator, Llc: 25% – 50% of Franklin Square Holdings, L.P. × 75% – 100% of Fsh Advisor Fee Holdings, Llc × 10% – 25% direct ≈ 1.88% – 12.5% of the firm
- The 2011 Forman Investment Trust: 25% – 50% of Fsh Nci Aggregator, Llc × 25% – 50% of Franklin Square Holdings, L.P. × 75% – 100% of Fsh Advisor Fee Holdings, Llc × 10% – 25% direct ≈ 0.47% – 6.25% of the firm
- Fb Capital Partners, L.P.: 25% – 50% of Fsh Nci Aggregator, Llc × 25% – 50% of Franklin Square Holdings, L.P. × 75% – 100% of Fsh Advisor Fee Holdings, Llc × 10% – 25% direct ≈ 0.47% – 6.25% 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 (1, $245M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Fs Tactical Opportunities Fund, L.P. | Private Equity Fund | $245M | $1.0M | 193 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 06/10/2026 | 2.26 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
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: Jun 10, 2026.
View current Form ADV (SEC/IAPD) ↗