DALLAS, April 10, 2025 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE:PX), ("P10" or the "Company"), a leading private markets solutions provider, today announced that its strategy, RCP Advisors, a private equity investment firm that provides access to North American small buyout fund managers, closed on its latest co-investment fund, RCPDirect V, LP ("RCP Direct V" or the "Fund").
The Fund closed on approximately $994 million in capital commitments, exceeding its target of $800 million. The Fund has a broad base of limited partners, consisting of both new and existing investors that include family offices, insurance companies, and high-net-worth individuals.
"We congratulate RCP Advisors on the oversubscribed close of RCP Direct V, which speaks to the firm's market-leading position and strong track record," said Luke Sarsfield, P10 Chairman and Chief Executive Officer. "With nearly 25 years of experience in the lower middle market, RCP brings deep expertise to our platform, and we are confident it will continue to deliver value for limited partners."
RCP Direct V will generally partner with lead buyout fund managers who raise funds between $100 million and $1 billion in committed capital and will make minority equity investments between $7.5 million and $40 million in lower middle market companies – typically, with $25 million to $500 million in enterprise value.
"Thank you to our global limited partners for your support. With our primary funds and secondary strategies, as well as the continued deployment of our fifth direct co-investment fund, RCP Advisors remains a comprehensive partner to both general partners and limited partners within the lower middle market buyout space," said Jon Soffer, Partner and Co-Portfolio Manager at RCP Advisors.
"The continued support, despite challenging macroeconomic conditions, underscores our limited partners' confidence in the small buyout market and our ability to collaborate with exceptional general partners to identify compelling investment opportunities. We are fortunate to leverage our network and 24-year history to partner with general partners who implement initiatives to grow and improve their portfolio companies regardless of market conditions," said Dave McCoy, Managing Partner and Co-Portfolio Manager at RCP Advisors.
About P10
P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10's mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of December 31, 2024, P10's products have a global investor base of more than 3,800 investors across 50 states, 60 countries, and six continents, which includes some of the world's largest pension funds, endowments, foundations, corporate pensions, and financial institutions. Visit www.p10alts.com.
Forward-Looking Statements
Some of the statements in this release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as "will," "expect," "believe," "estimate," "continue," "anticipate," "intend," "plan" and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management's current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance, and business. The inclusion of any forward-looking information in this release should not be regarded as a representation that the future plans, estimates, or expectations contemplated will be achieved. Forward-looking statements reflect management's current plans, estimates, and expectations, and are inherently uncertain. All forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors that may cause actual results to be materially different, including risks relating to: global and domestic market and business conditions; successful execution of business and growth strategies and regulatory factors relevant to our business; changes in our tax status; our ability to maintain our fee structure; our ability to attract and retain key employees; our ability to manage our obligations under our debt agreements; our ability to make acquisitions and successfully integrate the businesses we acquire; assumptions relating to our operations, financial results, financial condition, business prospects and growth strategy; the impacts of emerging technologies, such as artificial intelligence and machine learning; and our ability to manage the effects of events outside of our control. The foregoing list of factors is not exhaustive. For more information regarding these risks and uncertainties as well as additional risks that we face, you should refer to the "Risk Factors" included in our annual report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission ("SEC") on February 28, 2025, and in our subsequent reports filed from time to time with the SEC. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.
About RCP Advisors
Founded in 2001, RCP Advisors, a subsidiary of P10, Inc. (NYSE:PX), is a private equity investment firm that provides access to North American small buyout fund managers through primary funds, secondary funds, and co-investment funds, as well as customized solutions and research services. RCP believes it is one of the largest fund sponsors focused on this niche, with over $16.8 billion in committed capital* and 56 full-time professionals as of April 7, 2025.
The information contained in this press release does not constitute investment advice or an offer or sale of any security or investment product. Offerings are made only pursuant to a private offering memorandum containing important information. Statements are made as of the date of this release, and there is no implication that the information contained herein is correct as of any time subsequent to such date. Some of the statements in this release may constitute "forward-looking statements" within the meaning of the federal securities laws. Any forward-looking statements inherently are subject to a variety of risks and uncertainties that could cause actual results or events to differ materially from those results or events predicted or anticipated by these statements. RCP's investment strategy is subject to significant risks and there is no guarantee that any fund will achieve comparable results as any prior investments or prior investment funds of RCP. Past performance does not predict, and is not a guarantee of, future results. All investments involve risk, including the potential loss of capital.
*"Committed capital" primarily reflects the capital commitments associated with our SMAs, focused commingled funds, and advisory accounts advised by RCP since the firm's inception in 2001 (including funds that have since been sold, dissolved, or wound down and certain historical advisory accounts for which RCP's advisory contracts have expired). We include capital commitments in our calculation of committed capital if (a) we have full discretion over the investment decisions in an account or have responsibility or custody of assets or (b) we do not have full discretion to make investment decisions but play a role in advising the client on asset allocation, performing investment manager due diligence and recommending investments for the client's portfolio and/or monitoring and reporting on their investments. For our discretionary SMAs and commingled funds, as well as for our non-discretionary advisory accounts for which RCP is responsible for advising on all investments within the client's portfolio, committed capital is calculated based on aggregate capital commitments to such accounts. For non-discretionary accounts where RCP is responsible for advising only a portion of the client portfolio investments, committed capital is calculated as capital commitments by the client to those underlying investments which were made based on RCP's recommendation or with respect to which RCP advises the client. Committed capital does not include (i) certain historical non-discretionary advisory accounts no longer under advisement by RCP, (ii) assets managed or advised by the Private Capital Unit or Hark Capital Advisors, LLC, and Bonaccord Capital Advisors, LLC which are independent business lines of RCP 2, (iii) capital commitments to funds managed or sponsored by RCP's affiliated (but independently operated) management companies, and (iv) RCP's ancillary products or services.
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P10 Media Contact:
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