P10 Inc Stock Price, News & Analysis

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.

P10 (NYSE: PX) reported its Q2 2024 earnings, achieving record revenue of $71.1 million, a 14% YoY increase. Fee-related revenue grew 12% YoY to $68.3 million. The company's fee-paying assets under management (AUM) rose 8% YoY to $23.8 billion.

GAAP net income surged to $7.4 million from $2.1 million the previous year. Adjusted EBITDA slightly increased to $35.4 million. However, fee-related earnings dropped to $33.6 million from $34.7 million. Adjusted net income rose to $28.8 million, with fully diluted GAAP EPS of $0.06 and adjusted EPS of $0.24.

P10 appointed Sarita Narson Jairath as EVP and Global Head of Client Solutions, effective September 16, 2024. The company repurchased 1.5 million shares at an average of $8.12 per share and increased its share repurchase authorization to $20 million.

P10 also expanded its credit agreement, raising its borrowing capacity to $500 million, with maturities extended to August 2028. Finally, a quarterly cash dividend of $0.035 per share was declared, payable on September 20, 2024.

P10, Inc. (NYSE: PX), a leading private markets solutions provider, has announced an expanded credit agreement, increasing its total credit capacity to $500 million from new and existing lenders. The amended agreement includes a $175 million senior secured revolving credit facility and a $325 million senior secured term loan facility, with the option to increase by an additional $125 million. This refinancing, led by JPMorgan Chase Bank, N.A., KeyBanc Capital Markets Inc., and Texas Capital Bank, extends maturities to August 2028. The expanded facilities offer P10 enhanced financial flexibility and a diversified lending syndicate of 14 lenders. The company plans to use the proceeds to pay off existing borrowings and fund organic and inorganic growth initiatives.

P10, Inc. (NYSE: PX), a leading private markets solutions provider, has appointed Sarita Narson Jairath as EVP and Global Head of Client Solutions, effective September 16, 2024. Ms. Jairath will oversee P10's organic growth strategies, focusing on expanding global client relationships, developing new products, and enhancing market positioning. She brings over 20 years of institutional investment experience, joining from Blackstone where she was a Managing Director in Real Estate Institutional Client Solutions.

Luke Sarsfield, P10's Chairman and CEO, emphasized the importance of Ms. Jairath's role in developing an institutional framework to serve P10's growing global investor base. Her appointment is seen as a key milestone in the company's growth plan aimed at delivering long-term shareholder value.

P10, Inc. (NYSE: PX), a leading private markets solutions provider, has announced plans to host an Investor Day on September 19, 2024, in New York. The event will commence at 8:30 a.m. Eastern Time and is expected to conclude around 12:30 p.m.

During the Investor Day, P10's management team and affiliated managers will deliver comprehensive presentations covering the company's:

• Strategic vision
• Investment strategies
• Growth levers
• Financial outlook

The formal presentations will be followed by a Q&A session. A live webcast of the event, along with supporting materials, will be accessible on the Investor Relations section of P10's website. For those unable to attend, a replay will be made available after the event's conclusion.

P10, Inc. (NYSE: PX), a leading private markets solutions provider, has announced its schedule for the release of second quarter 2024 financial results. The company will disclose its Q2 2024 results on Thursday, August 8, 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 to discuss the results.

Investors and interested parties can access the webcast through a provided link. Those joining by telephone are required to register for personal dial-in and PIN numbers. For those unable to attend the live call, a replay will be made available on P10's investor relations page at ir.p10alts.com.

P10 (NYSE: PX) announced that its affiliated manager, Hark Capital, has successfully closed Hark Capital IV with $645 million in capital commitments, exceeding its $500 million target. This represents a 60% increase over Fund III and a 220% rise over Fund II. The fund, which offers Net Asset Value (NAV) credit solutions, received significant backing from existing and new partners, including U.S. insurance companies, public pension plans, and family offices. Hark Capital aims to provide non-dilutive loans to lower middle market private equity and growth equity funds, their portfolio companies, and management companies. The increased demand for NAV loans, driven by higher interest rates in the private equity market, positions Hark to achieve attractive risk-adjusted returns for its investors.