P10, a leading private markets solutions provider, announced today 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 called RCPDirect V.
The fund closed on about $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, including family offices, insurance companies, and high-net-worth individuals.
RCP Direct V generally partners 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.
KEY QUOTES:
“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. 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.”
- Luke Sarsfield, P10 Chairman and Chief Executive Officer
“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.”
- 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.”
- Dave McCoy, Managing Partner and Co-Portfolio Manager at RCP Advisors
