P10 Inc - PX STOCK NEWS

P10 Inc (NYSE: PX) announced a strategic partnership between HPS Investment Partners and Enhanced Capital to provide structured capital solutions for renewable energy and battery storage projects across the United States. The partnership will leverage the Inflation Reduction Act's provisions for tax credit transfers, simplifying the monetization of renewable energy tax credits without complex tax equity structures. This collaboration combines HPS Investment Partners' renewable energy investment experience with Enhanced Capital's expertise in tax credit structuring and monetization to support economy-wide decarbonization goals.

P10 (NYSE: PX) reported its Q3 2024 earnings, showing record quarterly revenue of $74.2 million, a 26% YoY increase. Fee-related revenue also rose by 26% to $72.9 million. The company achieved a GAAP net income of $1.3 million, reversing a loss of $(8.8) million from the previous year. Adjusted EBITDA grew to $35.3 million from $29.6 million, while adjusted net income was $30.8 million, up from $24.3 million. Fully diluted GAAP EPS was $0.01, and ANI per share was $0.26, compared to $(0.07) and $0.20, respectively, in the prior year.

P10's fee-paying AUM increased by 10% to $24.9 billion. The company entered an agreement to acquire Qualitas Funds for $63 million, expanding its European market presence. The acquisition is expected to close in Q1 2025. P10 also amended its credit agreement, increasing borrowing capacity to $500 million. Additionally, the company repurchased 609,300 shares and declared a quarterly dividend of $0.035 per share.

HPS Investment Partners and Enhanced Capital have announced a strategic partnership to provide structured capital solutions for renewable energy and battery energy storage projects across the United States. The collaboration aims to simplify tax credit monetization without complex tax equity structures, leveraging provisions from the Inflation Reduction Act (IRA) of 2022. The partnership combines HPS's renewable energy investment expertise with Enhanced Capital's tax credit structuring capabilities to support economy-wide decarbonization goals.

P10, Inc. (NYSE: PX), a leading private markets solutions provider, has announced its schedule for the release of third quarter 2024 results. The company will release its financial results on Thursday, November 7, 2024, after U.S. markets close. Following the release, P10 will host a conference call at 5:00 p.m. Eastern Time on the same day.

Interested parties can access the webcast through a provided link. For those joining by telephone, registration is required to obtain personal dial-in and PIN numbers. A replay of the call will be made available on P10's investor relations page at ir.p10alts.com for those unable to participate in the live event.

P10, Inc. (NYSE: PX) announced that its subsidiary, RCP Advisors (RCP), has been recognized by PitchBook in its 2023 Global Manager Performance Score League Tables. RCP's secondary family of funds (RCP SOF I-IV) ranked among the top ten secondary programs, while its co-investment program (RCPDirect I-IV) achieved the highest performance score in the co-investment category.

RCP Advisors specializes in private equity primary fund, secondary fund, and co-investment fund strategies, focusing on North American small buyout fund managers. Luke Sarsfield, P10 Chairman and CEO, stated that this recognition demonstrates the RCP team's expertise and dedication. Jon Madorsky, Managing Partner at RCP, attributed their success to their focused approach in the small buyout market, which provides unique deal flow and diligence opportunities.

P10, Inc. (NYSE: PX) announced that its subsidiary Enhanced Community Development, part of Enhanced Capital Group , has been awarded a $65 million allocation from the New Markets Tax Credits (NMTC) program. This marks the firm's 10th Federal NMTC award, bringing their total to $495 million since 2006. The U.S. Treasury Department allocated a total of $5 billion to 104 Community Development Entities for the 2023 round.

Enhanced Community Development has deployed $750 million in federal and state NMTC investments across the United States, supporting over 130 projects in low-income communities. The NMTC program, created in 2000, aims to drive economic revitalization in underserved areas by attracting private capital investment through federal tax credit incentives.

RCP Advisors, a private equity investment firm specializing in North American small buyout fund managers, has received top rankings from PitchBook for its secondary and co-investment programs. The firm's secondary family of funds (RCP SOF I-IV) was ranked among the top ten secondary programs in PitchBook's 2023 Global Manager Performance Score League Tables. Additionally, RCP's co-investment program (RCPDirect I-IV) achieved the highest performance score in the co-investments category.

Jon Madorsky, Managing Partner and Co-Portfolio Manager of Secondary Funds, attributed the success to RCP's focused strategy in the North American small buyout market. Dave McCoy, Managing Partner and Co-Portfolio Manager of Co-investments, expressed gratitude for the recognition and acknowledged the contribution of their GPs and portfolio management teams to their high-quality deal flow and operating performance.

P10, Inc. (NYSE: PX), a leading private markets solutions provider, is hosting an Investor Day in New York on September 19, 2024. The event, starting at 8:30 a.m. Eastern Time, will feature presentations from P10's management team and strategy leadership. They will discuss the company's strategic vision, investment strategies, growth levers, and financial outlook.

The formal presentations will be followed by a Q&A session, with the webcast portion concluding around 12:30 p.m. Eastern Time. Investors can access the live webcast and supporting materials through a provided link. A replay will be available on P10's investor relations page after the event.

P10, Inc. (NYSE: PX) has announced an agreement to acquire Qualitas Equity Funds SGEIC, S.A. for an initial purchase price of $63 million, with potential additional earnout consideration. Qualitas Funds, a Madrid-based private equity investing platform, manages approximately $1 billion in fee-paying assets and serves over 1,300 partners. The acquisition will establish P10's European presence and expand its global client base.

The transaction includes $42.25 million in cash and $20.75 million in P10 stock, with up to $35 million in additional earnout consideration. The deal is expected to close in Q1 2025 and be modestly accretive to fully-taxed ANI per share in 2025. Qualitas Funds' current managing partners will retain control of day-to-day operations, ensuring continuity in investment processes.