RCP Advisors, a private equity firm specializing in North American small buyout strategies, announced the successful final close of RCP Secondary Opportunity Fund V, LP (RCP SOF V) at its hard cap of $1.25 billion, surpassing its initial target of $1 billion.
This oversubscribed fund reflects strong demand from both new and returning limited partners, including high-net-worth individuals, pension funds, endowments, foundations, and insurance companies.
RCP SOF V continues the firm’s established investment approach, focusing on secondary market opportunities across small and mid-sized private equity funds. The fund will pursue both LP- and GP-led transactions, targeting portfolios and funds that primarily invest in leveraged buyouts, growth equity, and restructuring opportunities within the North American lower middle market.
This niche has long been RCP Advisors’ area of expertise, allowing it to deliver strong performance through disciplined underwriting and deep relationships with specialized fund managers.
The close of RCP SOF V comes amid robust demand for secondary investments, as institutional investors seek liquidity solutions and diversification in a shifting private equity environment. The firm’s continued focus on small buyout strategies—a segment often overlooked by larger secondary funds—has resonated strongly with investors seeking differentiated sources of return.
RCP’s leadership credited the firm’s disciplined focus, consistent track record, and long-standing partnerships for the fund’s strong reception. The new capital will allow RCP to capitalize on favorable market dynamics, including an active secondary deal pipeline driven by fund restructuring, portfolio rebalancing, and growing demand for liquidity among general partners and investors.
Founded in 2001, RCP Advisors is a subsidiary of P10, Inc. (NYSE: PX) and is one of the largest firms focused exclusively on North American small buyout funds.
The firm manages over $18 billion in committed capital across primary, secondary, and co-investment funds, supported by a team of more than 60 professionals. RCP provides institutional investors with access to niche buyout fund managers, offering both discretionary fund investments and customized portfolio solutions.
KEY QUOTES:
“The positive market reaction to RCP SOF V shows that our steadfast commitment to the small buyout fund space resonates with investors now more than ever.”
Jon Madorsky, Managing Partner and Co-Portfolio Manager, RCP Advisors
“We raised an oversubscribed secondary pool of capital in a very short timeframe. We believe this was due to our strong prior performance and partnership with our LPs, our differentiated focus, and a very attractive secondary buying opportunity. We look forward to a successful investment period for RCP SOF V.”
Raj Patel, Partner and Co-Portfolio Manager, RCP Advisors
