P10 Inc Stock Price, News & Analysis

P10, Inc. (NYSE: PX) announced that its strategy, RCP Advisors, has successfully closed its latest co-investment fund, RCPDirect V, LP, raising approximately $994 million in capital commitments, exceeding its target of $800 million.

The Fund attracted both new and existing investors, including family offices, insurance companies, and high-net-worth individuals. RCP Direct V will focus on partnering with buyout fund managers who raise funds between $100 million and $1 billion, making minority equity investments ranging from $7.5 million to $40 million in lower middle market companies with enterprise values of $25 million to $500 million.

The successful fundraising, completed despite challenging macroeconomic conditions, demonstrates investor confidence in RCP Advisors' 24-year track record in the small buyout market segment.

RCP Advisors has successfully closed its latest co-investment fund, RCPDirect V, raising approximately $994 million in capital commitments, significantly exceeding its target of $800 million. The fund attracted a diverse group of partners, including family offices, insurance companies, endowments, foundations, public pension plans, and high-net-worth individuals.

RCPDirect V will focus on partnering with buyout fund managers who raise funds between $100 million and $1 billion in committed capital. The fund will make minority equity investments ranging from $7.5 million to $40 million in lower middle market companies with enterprise values between $25 million to $500 million.

P10, Inc. (NYSE: PX) has completed its acquisition of Qualitas Equity Funds for an initial purchase price of $63 million, with potential additional earnout consideration. The Madrid-based private equity platform manages approximately $1 billion in fee-paying assets and serves over 1,300 partners across ultra-high-net-worth, family office, and institutional channels.

Founded in 2015 by Eric Halverson and Sergio Garcia, Qualitas Funds specializes in fund-of-funds, direct co-investing, and NAV financing opportunities in the European lower-middle market. This acquisition marks P10's significant expansion into Europe, complementing their existing platform with Qualitas Funds' established performance track record.

RCP Advisors has successfully closed its RCP Small and Emerging Fund III (RCP SEF III) with approximately $170.3 million in capital commitments, surpassing its target fund size. The fund attracted a diverse investor base including family offices, insurance companies, and high-net-worth individuals.

The Fund maintains the same investment strategy as RCP's previous small and emerging funds-of-funds, focusing on North American buyout fund managers who are raising their second institutional fund or earlier, with targets of $300 million or less in aggregate capital commitments.

P10 (NYSE: PX) reported strong Q4 2024 financial results with record quarterly revenue of $85 million, representing a 35% year-over-year increase. The company's fee-paying assets under management grew 10% to $25.7 billion.

Key Q4 highlights include GAAP Net Income of $5.7 million (compared to -$1.9M in prior year), Adjusted EBITDA up 40% to $42.9 million, and Fee-Related Earnings increasing 39% to $42.7 million. Full-year 2024 revenue reached $296.4 million, up 23% year-over-year.

The company actively engaged in share repurchases, buying back approximately 815,327 shares at an average price of $12.72 in Q4, and 6.6 million shares at $8.88 throughout 2024, totaling $59.1 million. The Board authorized an additional $40 million for share repurchases and declared a quarterly dividend of $0.035 per share.

P10, Inc. (NYSE: PX), a private markets solutions provider, has scheduled its fourth quarter and full year 2024 earnings release for Wednesday, February 12, 2025, before U.S. markets open. The company will host a conference call at 8:30 a.m. Eastern Time on the same day. A webcast will be available, and participants joining by telephone need to register for personal dial-in details. A replay of the call will be accessible on P10's investor relations website.

P10 (NYSE: PX) announced that its strategy, Bonaccord Capital Partners, has successfully closed its second GP Stakes fund, Bonaccord Capital Partners II (BCP II), with $1.6 billion in total commitments. The fund exceeded its target of $1.25 billion and closed at its revised hard cap, representing a 117% growth compared to its predecessor fund BCP I, which closed at $738.95 million in 2021.

BCP II is already 60% invested across eight investments, including Park Square Capital, Trivest Partners, Shamrock Capital, VMG Partners, Synova Capital, Revelstoke Capital Partners, Kayne Anderson Private Credit, and Lead Edge Capital. Overall, Bonaccord has invested $2.6 billion across 15 investments, including $1.0 billion of co-investment.

RCP Advisors, a private equity investment firm focused on North American small buyout fund managers, has received two prestigious workplace recognitions in 2024. The firm was named in Pensions & Investments' Best Places to Work in Money Management awards, marking the 13th annual survey of top employers in money management. Additionally, RCP Advisors earned recognition from Chicago's Best and Brightest Companies to Work For®.

The firm's success in attracting and retaining talent is attributed to its strategic talent management, employee engagement initiatives, and entrepreneurial culture. The Best and Brightest Companies assessment evaluated various aspects including employee enrichment, engagement, retention, development, and corporate responsibility.

P10 (NYSE: PX) has appointed Mike Goodwin as Chief Information Officer, effective December 2, 2024. Goodwin will lead the company's data, technology, and infrastructure function, overseeing key initiatives including data aggregation, performance metrics, and AI applications. He brings over 20 years of experience in information management, with expertise in cybersecurity and technology strategy implementation. Prior to joining P10, he served as Chief Technology Officer and Chief Information Security Officer for a private equity real estate investment manager.