Welcome to our dedicated page for Praxair news (Ticker: PX), a resource for investors and traders seeking the latest updates and insights on Praxair stock.
P10, Inc. (NYSE: PX) generates a steady flow of news as a private markets solutions provider focused on private equity, private credit, and venture capital strategies in the middle and lower-middle market. Company press releases and affiliate announcements highlight developments across its global platform, including fundraising milestones, strategic initiatives, and regional expansion.
News items tied to P10 often cover earnings releases and related financial updates, where the company reports fee-related revenue, fee-related earnings, adjusted net income, and fee-paying assets under management. These announcements typically include reconciliations of non-GAAP measures to GAAP results and provide insight into how management evaluates the performance of its private markets strategies.
Investors following PX-related news also see updates on corporate actions and capital markets activity. For example, P10 has announced a dual listing of its Class A common stock on NYSE Texas while maintaining its primary listing on the New York Stock Exchange. The company has also disclosed a planned change of its corporate name from P10, Inc. to Ridgepost Capital, Inc., with a corresponding ticker symbol change from PX to RPC on both exchanges as of a specified effective date.
Another recurring theme in P10’s news flow is platform and geographic expansion. The company announced the opening of a new office in Dubai within the Dubai International Financial Centre, licensed by the Dubai Financial Services Authority, to support client partnerships across the Middle East. Affiliate news from businesses that are part of P10, such as RCP Advisors, Bonaccord Capital Partners, and Enhanced Capital, adds further context on fundraising successes, minority investments, and community development finance through New Markets Tax Credit allocations.
By reviewing the PX news feed on this page, readers can track how P10 communicates its strategic focus on private markets, its engagement with investors and industry events, and the evolution of its corporate identity and platform. Regularly checking this page helps users monitor key announcements that shape the company’s trajectory in the alternative asset management sector.
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.
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.