PartnerFacts
Data last updated: Oct 23, 2026, 5:45 PM ETLatest filing: Oct 22, 2026Now: Oct 24, 2026, 5:11 AM ET

Sponsor Check › Person

HK
No photo found yet (own website and image search run after this page is viewed)

Heather Kels

Named as an officer, director or promoter on SEC Form D filings · NC · Apr 3, 2020 → Apr 30, 2026

7deals (issuers)
$6.43Mreported sold
116investors
7Form D filings
2020–2026years on file
Follow this personLook further ↓PDF

Data last updated Oct 23, 2026, 5:45 PM ET · Courts (RECAP) last checked: Oct 24, 2026, 2:47 AM ET · SEC enforcement last checked: covered by the index scan as of Oct 24, 2026, 2:50 AM ET

The short version

Heather Kels is listed as an executive officer on 7 SEC Form D filings by 7 issuers between Apr 2020 and Apr 2026. Largest by amount reported sold: Crescent Co-Investment Fund 2021, LLC (Charlotte, NC — pooled investment fund — 2022; $1.44M reported sold to 24 investors), Crescent Co-Investment Fund 2023, LLC (Charlotte, NC — pooled investment fund — 2024; $1.19M reported sold to 19 investors), Crescent Co-Investment Fund 2025, LLC (Charlotte, NC — pooled investment fund — 2026; $1.14M reported sold to 21 investors), Crescent Co-Investment Fund 2024, LLC (Charlotte, NC — pooled investment fund — 2025; $870K reported sold to 16 investors), Crescent Co-Investment Fund 2020, LLC (Charlotte, NC — pooled investment fund — 2021; $855K reported sold to 20 investors) and 2 more (all listed below).

What this means A repeat sponsor — 7 separate companies raised money with this person listed as executive officer, over about 6 years. Across those companies the filings report $6.43M sold in total.

Listed alongside CRESCENT COMMUNITIES, LLC (7 shared filings, management entity), Brian Natwick (4 shared filings), Kevin H. Lambert (4 shared filings), Todd W. Mansfield (2 shared filings) and James Curran (1 shared filing).

What this means These are the other officers, directors or promoters the companies named on the same forms — the team around Heather. Each name links to their own page.

All 7 issuers belong to the sponsor group Crescent (12 issuers, $116.6M reported sold, 2016–2026).

What this means A sponsor group is one team that sets up a new company for each deal. Crescent has 12 companies on file and $116.6M reported sold in total — the group page shows the whole track record in one place.

Public records searched: federal courts (CourtListener / RECAP), SEC enforcement releases, state securities regulators (AZ, CA, DE, TX, WA) — none found.

What this means Nothing turned up where we looked (3 sources). That does not prove there is nothing — it means none was found in those sources on that date.

We compared 7 public filings for Heather Kels and found 4 differences: Form D filed 18 days after the first sale; Form D filed 34 days after the first sale; and more below.

What this means These are differences between the sponsor's own SEC filings — both values, dates and sources are listed in Key records, section 4. Most have ordinary explanations; ask the sponsor.

What the community is saying

Community search for Heather Kels has not run yet — it is joining a line of 9,155 names; searches run around the clock at the hosts' allowed rate. Searched so far: 27 names.

Community comments are quoted as written by their authors. Sources searched: BiggerPockets forums (via DuckDuckGo, Brave, Bing and BiggerPockets search) and Reddit (search feed + public archive).

Key records

Five things investors ask first. Items still in human review are counted, not shown.

1. Lawsuits

None found in sources searched — federal courts (CourtListener / RECAP), checked Oct 24, 2026

What was searched

Sources searched: CourtListener bulk data (RECAP dockets as of 2026-09-30; recall-first rule 10-24) — federal district + bankruptcy courts State courts: not covered (one-tap state court links under Look further). PACER: not searched. · Last checked Oct 24, 2026, 2:47 AM ET.

State courts: not covered (one-tap state court links under Look further). No state offers a lawful automated statewide source PartnerFacts can use today. Texas (re:SearchTX) terms prohibit storing results in a database open to third parties; New York (WebCivil) and Massachusetts (MassCourts) require a browser check that blocks scripted queries; California has no statewide index (58 county portals; Rule of Court 2.503 grants name-based access case by case); Florida, Utah and Illinois offer paid or partial access whose terms for automated use are unverified. Washington (dw.courts.wa.gov; bulk index reports under a JISC data-dissemination agreement), Delaware (CourtConnect; Court of Chancery not included) and Arizona (apps.azcourts.gov/publicaccess, which has an official channel to request high-volume access) are the candidates; PartnerFacts will request written permission before any automated search. Federal courts are searched through CourtListener / RECAP.

2. Regulatory actions

None found in sources searched — SEC enforcement releases (index scan as of Oct 24, 2026, 2:50 AM ET) · state securities regulators: AZ, CA, DE, TX, WA (crawled Oct 23, 2026)

What was searched

SEC enforcement searched: SEC litigation releases and administrative proceedings — respondent names in the sec.gov index titles (30,205 releases, 1995-09-19 to 2026-10-23); release text is read only to confirm a candidate. Names that appear only in the body of a release are not found. — Searched SEC litigation releases and administrative proceedings (1995→ / 2007→) (30,205 records as of Oct 24, 2026, 2:50 AM ET) — nothing matched Heather Kels..

State securities regulators searched: AZ (Corporation Commission Securities Division), CA (DFPI — 16 of 12,159 DFPI respondent pages read so far; sponsor-name matches are read first), DE (DOJ Investor Protection Unit), TX (State Securities Board), WA (DFI) — last crawled Oct 23, 2026, 9:57 PM ET. Other states are not covered.

3. Bankruptcies

None found in sources searched — federal bankruptcy courts (CourtListener / RECAP), checked Oct 24, 2026

What was searched

Sources searched: Federal bankruptcy courts via CourtListener / RECAP archive (federal district courts, federal bankruptcy courts). State courts: not covered (one-tap state court links under Look further). PACER: not searched (RECAP only). · Last checked Oct 24, 2026, 2:47 AM ET.

State courts: not covered (one-tap state court links under Look further). No state offers a lawful automated statewide source PartnerFacts can use today. Texas (re:SearchTX) terms prohibit storing results in a database open to third parties; New York (WebCivil) and Massachusetts (MassCourts) require a browser check that blocks scripted queries; California has no statewide index (58 county portals; Rule of Court 2.503 grants name-based access case by case); Florida, Utah and Illinois offer paid or partial access whose terms for automated use are unverified. Washington (dw.courts.wa.gov; bulk index reports under a JISC data-dissemination agreement), Delaware (CourtConnect; Court of Chancery not included) and Arizona (apps.azcourts.gov/publicaccess, which has an official channel to request high-volume access) are the candidates; PartnerFacts will request written permission before any automated search. Federal courts are searched through CourtListener / RECAP.

4. Differences between public sources

Comparisons cover issuers and sponsor groups — see the issuer pages under Deals

4 differences found between the filings for Heather Kels (compared 7 filings on Oct 24, 2026)

Note · Aug 15, 2025 – Sep 2, 2025

Form D filed 18 days after the first sale — Crescent Co-Investment Fund 2024, LLC

The filing says the first sale was Aug 15, 2025. The Form D was filed Sep 2, 2025 — 18 days later. The rule: a Form D is generally due within 15 days after the first sale, so this one is 3 days past that.

What this means A late notice is common and carries no penalty by itself. It is worth asking the sponsor why the paperwork lagged.

Form D · Sep 2, 2025 ↗Crescent Co-Investment Fund 2024, LLC — PartnerFacts page ↗
Sources
Note · Apr 15, 2022 – May 19, 2022

Form D filed 34 days after the first sale — Crescent Co-Investment Fund 2021, LLC

The filing says the first sale was Apr 15, 2022. The Form D was filed May 19, 2022 — 34 days later. The rule: a Form D is generally due within 15 days after the first sale, so this one is 19 days past that.

What this means A late notice is common and carries no penalty by itself. It is worth asking the sponsor why the paperwork lagged.

Form D · May 19, 2022 ↗Crescent Co-Investment Fund 2021, LLC — PartnerFacts page ↗
Sources
Note · May 10, 2023 – May 25, 2023

No amendment in the last 12 months on an offering that may still be open — Crescent Co-Investment Fund 2022, LLC (latest filing May 25, 2023)

The latest filing for this offering is dated May 25, 2023 (first sale May 10, 2023). It reports $450,000 sold of $1,500,000 offered. No later amendment is in our index as of Oct 24, 2026.

What this means SEC rules expect a yearly amendment while an offering is still going. The raise may simply have ended — a Form D does not say when it closed. Ask the sponsor whether the offering closed, when, and at what amount.

Form D · May 25, 2023 ↗Crescent Co-Investment Fund 2022, LLC — PartnerFacts page ↗
Sources
Note · Mar 20, 2020 – Apr 3, 2020

No amendment in the last 12 months on an offering that may still be open — Crescent Co-Investment Fund 2019, LLC (latest filing Apr 3, 2020)

The latest filing for this offering is dated Apr 3, 2020 (first sale Mar 20, 2020). It reports $485,000 sold of $650,000 offered. No later amendment is in our index as of Oct 24, 2026.

What this means SEC rules expect a yearly amendment while an offering is still going. The raise may simply have ended — a Form D does not say when it closed. Ask the sponsor whether the offering closed, when, and at what amount.

Form D · Apr 3, 2020 ↗Crescent Co-Investment Fund 2019, LLC — PartnerFacts page ↗
Sources
What is compared

What is compared: every Form D and D/A we hold for this subject, side by side — filing dates vs. first-sale dates (the 15-day rule), amendment timing on open offerings (the yearly-amendment expectation), amounts sold, investor counts, offering amounts and minimums across amendments, industry and size bands, addresses, how each person's name and role is written, paid sellers' CRD numbers, and (for groups) where the member companies were formed and sit. Everything is as filed by the issuer; the SEC does not check it. Differences are common and usually have ordinary explanations — we show both values, the dates, and the source so you can ask. As of Oct 24, 2026.

5. Money to insiders

None reported on 7 offerings — no sales commissions, finder's fees or proceeds to insiders

Per-offering detail
Offering (latest filing)Sales commissionsFinder's feesTo insidersPaid to sell itSource
Apr 30, 2026 D
Crescent Co-Investment Fund 2025, LLC
File 021-582410
$0$0$0None listed on this filingEDGAR ↗
Sep 2, 2025 D
Crescent Co-Investment Fund 2024, LLC
File 021-556404
$0$0$0None listed on this filingEDGAR ↗
Apr 29, 2024 D
Crescent Co-Investment Fund 2023, LLC
File 021-511791
$0$0$0None listed on this filingEDGAR ↗
May 25, 2023 D
Crescent Co-Investment Fund 2022, LLC
File 021-482632
$0$0$0None listed on this filingEDGAR ↗
May 19, 2022 D
Crescent Co-Investment Fund 2021, LLC
File 021-446266
$0$0$0None listed on this filingEDGAR ↗
Apr 30, 2021 D
Crescent Co-Investment Fund 2020, LLC
File 021-397748
$0$0$0None listed on this filingEDGAR ↗
Apr 3, 2020 D
Crescent Co-Investment Fund 2019, LLC
File 021-364251
$0$0$0None listed on this filingEDGAR ↗

Counts come from Form D Items 12–15 on the filings in our index (latest filing per offering; one offering = one SEC file number; an amendment updates its offering rather than adding one). "To insiders" = gross proceeds used for payments to executive officers, directors or promoters. "—" = not reported on that filing. Amounts marked (est.) were reported as estimates. "Paid to sell it" = sales compensation recipients named on that filing (Item 12), each linked to FINRA BrokerCheck when a CRD number is reported.

Counted across every filing this person is listed on (latest filing per offering, per issuer).

Deals 7

Every issuer that named Heather Kels on a Form D, newest first. A Form D is the notice a company files after it starts selling a private investment.

CC
Pooled Investment Fund · group: Crescent

Crescent Co-Investment Fund 2025, LLC

Charlotte, NC · Apr 30, 2026
  • Apr 30, 2026 · D · $1,140,000 sold of $1,140,000 · 21 investors · min. No minimum reported · role: Executive Officer (Executive Vice President and CFO of the Manager of the Issuer) EDGAR ↗

Raised $1.14M from 21 investors (100% of the $1.14M target) as of the latest filing. Heather is listed as executive officer.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Pooled Investment Fund / 506(b) (83,801 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

CC
Pooled Investment Fund · group: Crescent

Crescent Co-Investment Fund 2024, LLC

Charlotte, NC · Sep 2, 2025
  • Sep 2, 2025 · D · $870,000 sold of $870,000 · 16 investors · min. No minimum reported · role: Executive Officer (Executive Vice President and CFO of the Manager of the Issuer) EDGAR ↗

Raised $870K from 16 investors (100% of the $870K target) as of the latest filing. Heather is listed as executive officer.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Pooled Investment Fund / 506(b) (83,801 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

CC
Pooled Investment Fund · group: Crescent

Crescent Co-Investment Fund 2023, LLC

Charlotte, NC · Apr 29, 2024
  • Apr 29, 2024 · D · $1,190,000 sold of $1,190,000 · 19 investors · min. No minimum reported · role: Executive Officer (Chief Financial Officer of the Manager of the Issuer) EDGAR ↗

Raised $1.19M from 19 investors (100% of the $1.19M target) as of the latest filing. Heather is listed as executive officer.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Pooled Investment Fund / 506(b) (83,801 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

CC
Pooled Investment Fund · group: Crescent

Crescent Co-Investment Fund 2022, LLC

Charlotte, NC · May 25, 2023
  • May 25, 2023 · D · $450,000 sold of $1,500,000 · 5 investors · min. No minimum reported · role: Executive Officer (Officer of the Manager of the Issuer) EDGAR ↗

Raised $450K from 5 investors (30% of the $1.5M target) as of the latest filing. Heather is listed as executive officer.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Pooled Investment Fund / 506(b) (83,801 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

CC
Pooled Investment Fund · group: Crescent

Crescent Co-Investment Fund 2021, LLC

Charlotte, NC · May 19, 2022
  • May 19, 2022 · D · $1,438,000 sold of $1,438,000 · 24 investors · min. No minimum reported · role: Executive Officer (Officer of the Manager of the Issuer) EDGAR ↗

Raised $1.44M from 24 investors (100% of the $1.44M target) as of the latest filing. Heather is listed as executive officer.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Pooled Investment Fund / 506(b) (83,801 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

CC
Pooled Investment Fund · group: Crescent

Crescent Co-Investment Fund 2020, LLC

Charlotte, NC · Apr 30, 2021
  • Apr 30, 2021 · D · $855,000 sold of $855,000 · 20 investors · min. No minimum reported · role: Executive Officer (Officer of the Manager of the Issuer) EDGAR ↗

Raised $855K from 20 investors (100% of the $855K target) as of the latest filing. Heather is listed as executive officer.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Pooled Investment Fund / 506(b) (83,801 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

CC
Pooled Investment Fund · group: Crescent

Crescent Co-Investment Fund 2019, LLC

Charlotte, NC · Apr 3, 2020
  • Apr 3, 2020 · D · $485,000 sold of $650,000 · 11 investors · min. No minimum reported · role: Executive Officer (OFFICER OF THE MANAGER OF THE ISSUER) EDGAR ↗

Raised $485K from 11 investors (75% of the $650K target) as of the latest filing. Heather is listed as executive officer.

Latest filing on EDGAR ↗
Sources

Every row is a Form D or D/A on which the issuer listed this name as a related person. Amount sold and investors are the maximum reported on any filing for this issuer. "Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Pooled Investment Fund / 506(b) (83,801 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

People around Heather 5

Officers, directors, promoters and management entities named on the same filings, as of Oct 23, 2026, 5:45 PM ET.

CC
Management entity

CRESCENT COMMUNITIES, LLC

Executive Officer · 7 shared filings (7 issuers) · also on 1 other issuer

CRESCENT COMMUNITIES, LLC is on 8 issuers in total — a repeat sponsor. Their page lists every one.

KL
No photo found yet (own website and image search run after this page is viewed)
Person

Kevin H. Lambert

Executive Officer · 4 shared filings (4 issuers) · also on 4 other issuers

Kevin H. Lambert is on 8 issuers in total — a repeat sponsor. Their page lists every one.

BN
No photo found yet (own website and image search run after this page is viewed)
Person

Brian Natwick

Executive Officer · 4 shared filings (4 issuers) · also on 1 other issuer

Brian Natwick is on 5 issuers in total — a repeat sponsor. Their page lists every one.

TM
No photo found yet (own website and image search run after this page is viewed)
Person

Todd W. Mansfield

Executive Officer · 2 shared filings (2 issuers) · also on 3 other issuers

Todd W. Mansfield is on 5 issuers in total — a repeat sponsor. Their page lists every one.

JC
No photo found yet (own website and image search run after this page is viewed)
Person

James Curran

Executive Officer · 1 shared filing (1 issuer)

Listed on the same filings as Heather Kels. Their page shows their other deals.

The team behind the deals

C
Sponsor group

Crescent

12 issuers · 12 filings · $116.6M reported sold · 2016–2026

One team, 12 deal companies. Heather Kels is listed on 7 of them.

Sources

Issuers are grouped when their Form D filings share related persons, a management entity or a business address (automatic match from the filings). "Listed" marks the issuers that name Heather Kels.

Registrations and other filings

Adviser registration (Form ADV)

None of the 7 issuers this person is listed on appears in Form ADV (searched 24,962 advisers as of Oct 2, 2026). A person is never an adviser firm; Form ADV is checked for the issuers and the management companies they are listed with.

Other offering types (Regulation A and Regulation Crowdfunding)

Searched SEC Regulation A Data Sets (Forms 1-A, 1-K, 1-Z; 2015 Q2 → 2026 Q3); SEC Crowdfunding Offerings Data Sets (Form C family; 2016 Q2 → 2026 Q3); EDGAR form index for 2026 Q3 → 2026 Q4 (51,358 records as of Oct 23, 2026, 8:41 PM ET) — nothing matched this name.

Property records none — individuals are not matched

Property records are matched to companies only, never to individuals, so none are matched to Heather Kels by design. Searched property records in Hillsborough County FL (Clerk recorded-document index Oct 14, 2026 to Oct 15, 2026 + FL DOR 2026 ownership roll), Miami-Dade County FL (FL DOR 2026 ownership roll), Harris County TX (HCAD 2026 ownership roll), Dallas County TX (DCAD 2026 ownership roll), New York City ACRIS documents and PLUTO ownership rows already retrieved for other issuers, Cook County IL sale and ownership rows already retrieved for other issuers (814,874 records as of Oct 23, 2026, 8:59 PM ET) for the 7 issuers this person is listed on — nothing matched.

Public profiles and social

Websites and social links of the issuers Heather Kels is listed on: none on file. No website or social profile named in Crescent Co-Investment Fund 2021, LLC's SEC filings (Form C, Reg A, Form ADV; checked Oct 24, 2026). Web search for this name: #155,831 of 374,652 in line (14 issuers searched so far). One-tap searches: Look further ↓

Look further

One-tap searches on sites we do not index ourselves, with the name pre-filled (Charlotte, NC). Each opens in a new tab; what you find there is not verified by PartnerFacts.

Social and web

LinkedIn people search ↗Instagram ↗X (Twitter) ↗Facebook ↗YouTube ↗Google ↗Google Images ↗Google News ↗Meta Ad Library ↗

Courts

CourtListener / RECAP (federal) ↗PACER case locator (federal, login) ↗North Carolina eCourts portal ↗

Securities regulators

SEC EDGAR full-text search ↗SEC action look-up ↗FINRA BrokerCheck ↗SEC IAPD adviser search ↗

Business registries

North Carolina Secretary of State business search ↗OpenCorporates ↗

Change history

No corrections have been requested for this page.

Every fact links to its public-record source. Plain-English notes next to a fact are our reading of that fact, not a rating. Request a correction · Facts policy

Request a correction

Free. Logged with status: received → under review → fixed / confirmed with source.

Add a response

If this is you or your firm, add a sourced explanation next to any fact. Reviewed before publishing.

Monitor this person

Members get an email when Heather Kels appears on a new Form D, or when a court case or SEC action is matched to them. See plans →