Ridgepost Capital (NYSE: RPC) has completed its acquisition of Stellus Capital Management, a U.S. direct lender focused on the lower-middle market with about $4 billion AUM.
Stellus will retain its existing leadership, adding scale to Ridgepost’s private credit and GP ecosystem strategy.
Loading...
Loading translation...
Positive
Completed acquisition of Stellus Capital Management, a lower-middle market direct lender
Adds approximately $3.8 billion AUM, including $2.6 billion fee-paying AUM, as of March 31, 2026
Over 70% of Stellus fee-related revenue comes from permanent capital vehicles
Stellus team has 22+ years investing together, deploying $10.5 billion across 375+ companies
Negative
None.
News Market Reaction – RPC
-3.61%
1 alert
-3.61%Session close to close
$821.07MMarket Cap
0.6xRel. Volume
In the Jun 23 session, RPC declined 3.61%, reflecting a moderate negative market reaction.
This announcement advances RPC’s private credit expansion, adding Stellus’ $3.8 billion AUM and long...
Analysis
This announcement advances RPC’s private credit expansion, adding Stellus’ $3.8 billion AUM and long-tenured team. With recent insider net buying, investors may watch how Stellus integrates and whether fee-related earnings from permanent capital grow visibly.
Key Figures
Stellus AUM:approximately $4 billionStellus AUM:$3.8 billionFee-paying AUM:$2.6 billion+4 more
7 metrics
Stellus AUMapproximately $4 billionStellus Capital Management total assets under management
Stellus AUM$3.8 billionAssets under management as of March 31, 2026
Fee-paying AUM$2.6 billionStellus fee-paying assets under management as of March 31, 2026
Permanent capital revenue mixmore than 70%Share of Stellus fee-related revenue from permanent capital vehicles
Team investing historyover 22 yearsStellus senior team investing together
Capital deployedin excess of $10.5 billionCapital deployed by Stellus senior team over its history
Borrower companiesover 375 companiesNumber of companies financed by Stellus over its history
Q1 results highlighted fee-paying AUM growth and capital deployment plus buybacks.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
RPC often reacts positively to growth and capital-raising news, but similar positive headlines have occasionally coincided with short-term pullbacks.
Key Terms
assets under management, direct lender, fee-paying aum, permanent capital vehicles, +1 more
5 terms
assets under managementfinancial
"a leading U.S. direct lender focused on the lower-middle market with approximately $4 billion in assets under management"
Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.
direct lenderfinancial
"a leading U.S. direct lender focused on the lower-middle market with approximately $4 billion in assets under management"
A direct lender is a firm that makes loans straight to borrowers without going through banks, brokers, or loan marketplaces. For investors, direct lenders matter because they take the first-line exposure to interest income, repayment risk and loan terms—similar to renting a house directly to a tenant rather than through an agent—so loan performance, defaults and changes in lending rules directly affect returns and valuation.
fee-paying aumfinancial
"With $3.8 billion in assets under management as of March 31, 2026, including $2.6 billion in fee-paying AUM"
Fee-paying AUM is the portion of a fund manager’s total assets under management that actually generates management or advisory fees. Think of it like the number of rented apartments in a building that bring in rent: higher fee-paying AUM usually means more predictable revenue and a clearer path to profits for the manager, so investors watch it to judge earnings stability and growth potential.
permanent capital vehiclesfinancial
"more than 70% of its fee-related revenue is generated from permanent capital vehicles"
A permanent capital vehicle is an investment entity that raises money without a fixed date to return it, allowing managers to hold assets for the long term instead of being forced to sell on a timetable. For investors, that means the vehicle can pursue longer-term opportunities, smooth out short-term market swings, and potentially generate steady income or capital growth—think of it as a pot of money meant to stay invested rather than a clocked loan.
senior-secured loansfinancial
"Stellus is an established direct lending platform that provides senior-secured loans to sponsor-backed, lower-middle market companies"
A senior-secured loan is a bank-style loan that has first claim on a borrower’s specified assets if the borrower can’t pay, so lenders are first in line to be repaid and can seize pledged assets as backup. For investors this matters because these loans generally carry lower risk and typically pay lower interest than unsecured debt or equity, making them a safer place in a company’s capital structure—like a mortgage holder versus an unsecured creditor.
DALLAS, June 22, 2026 (GLOBE NEWSWIRE) -- Ridgepost Capital, Inc. (NYSE: RPC) (“Ridgepost” or “Ridgepost Capital”) today announced it has completed its previously announced acquisition of Stellus Capital Management, LLC (“Stellus”), a leading U.S. direct lender focused on the lower-middle market with approximately $4 billion in assets under management. Stellus will continue to be managed by its current partners who will lead day-to-day operations, including investment decisions and investment committee processes.
“Closing the Stellus transaction marks another significant milestone in Ridgepost’s strategy to partner with leading specialized investment managers operating in the middle and lower-middle market,” said Luke Sarsfield, Ridgepost Capital Chairman and Chief Executive Officer. “This acquisition is a natural fit with Ridgepost’s lower-middle market GP ecosystem, creating growth opportunities and further differentiating our investment strategies. Stellus’ longstanding operating history and track record will meaningfully enhance our private credit capabilities, underpinned by a shared philosophy of investment excellence and long-term value creation for clients.”
“We are pleased to join Ridgepost’s leading alternatives platform and begin this next phase of growth together,” said Robert Ladd, Managing Partner of Stellus. “Ridgepost’s broad and collaborative platform, extensive sponsor relationships, and commitment to partnership strengthen our ability to originate attractive investment opportunities across our BDCs and private funds. We are confident this combination offers access to expertise and insights from complementary investment managers, allowing us to better meet the evolving needs of our investors.”
Based in Houston, TX, Stellus is an established direct lending platform that provides senior-secured loans to sponsor-backed, lower-middle market companies in the U.S. With $3.8 billion in assets under management as of March 31, 2026, including $2.6 billion in fee-paying AUM, more than 70% of its fee-related revenue is generated from permanent capital vehicles. Stellus’ senior team has been investing together for over 22 years and has deployed in excess of $10.5 billion of capital across over 375 companies during that time.
Kirkland & Ellis LLP and Troutman Pepper Locke LLP served as legal advisors to Ridgepost Capital.
Goldman, Sachs & Co. acted as exclusive financial advisor and Eversheds Sutherland (US) LLP and Winston & Strawn LLP served as legal advisors to Stellus.
About Ridgepost Capital
Ridgepost Capital (NYSE: RPC) is a leading private markets solutions provider with over $45 billion in assets under management as of March 31, 2026. Ridgepost Capital invests across Private Equity, Private Credit, and Venture Capital in access-constrained strategies, with a focus on the middle and lower-middle market. Ridgepost Capital’s products have a global investor base and aim to deliver compelling risk-adjusted returns. For additional information, please visit www.ridgepostcapital.com.
About Stellus Capital Management
Stellus is one of the longest tenured direct lenders specializing in senior secured, sponsor-backed loans in the lower-middle market. Formed within the D.E. Shaw Group in 2004, Stellus spun out in 2012 and today manages approximately $4 billion across various investment vehicles, including closed-end institutional funds, a public BDC (NYSE: SCM), and a perpetual private BDC. Stellus is a single strategy firm, and its founding partners have been investing together in the lower-middle market for 22+ years with a track record of over $10.5 billion deployed across more than 375 transactions and over 200 unique private equity sponsors since inception. Stellus is headquartered in Houston, TX with offices in the Washington, D.C. area and Charlotte, NC. Stellus is a strategy of Ridgepost Capital, Inc. (NYSE: RPC), a diversified, multi-asset investment platform. Learn more at www.stelluscapital.com.
Forward-Looking Statements
Some of the statements in this press release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “believe,” “estimate,” “continue,” “anticipate,” “intend,” “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management’s current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance, and business. The inclusion of any forward-looking information in this release should not be regarded as a representation that the future plans, estimates, or expectations contemplated will be achieved. Forward-looking statements reflect management’s current plans, estimates, and expectations, and are inherently uncertain. All forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors that may cause actual results to be materially different, including risks related to: global and domestic market and business conditions; successful execution of business and growth strategies; regulatory factors relevant to our business; changes in our tax status; our ability to maintain our fee structure; our ability to attract and retain key employees; our ability to manage our obligations under our debt agreements; our ability to make acquisitions and successfully integrate the businesses we acquire, including Stellus Capital Management, LLC; assumptions relating to our operations, financial results, financial condition, business prospects and growth strategy; the timing and amount of any share repurchases; and our ability to manage the effects of events outside of our control. The foregoing list of factors is not exhaustive. For more information regarding these risks and uncertainties as well as additional risks that we face, you should refer to the “Risk Factors” included in our annual report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (“SEC”) on February 27, 2026 and in our subsequent reports filed from time to time with the SEC, including our Form 10-Q for the fiscal quarter ended March 31, 2026, filed with the SEC on May 8, 2026. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.
What did Ridgepost Capital (NYSE: RPC) announce on June 22, 2026?
Ridgepost Capital announced it completed its acquisition of Stellus Capital Management, a U.S. lower-middle market direct lender. According to Ridgepost Capital, Stellus brings substantial private credit capabilities and will operate within Ridgepost’s specialized investment manager ecosystem.
How much assets under management does Stellus Capital add to Ridgepost Capital (RPC)?
Stellus contributes about $3.8 billion in assets under management, including $2.6 billion in fee-paying AUM. According to Ridgepost Capital, Stellus also reports that over 70% of its fee-related revenue is generated from permanent capital vehicles, supporting recurring fee streams.
How will the Stellus acquisition impact Ridgepost Capital’s private credit strategy?
The Stellus acquisition expands Ridgepost Capital’s private credit capabilities in the lower-middle market. According to Ridgepost Capital, Stellus’ longstanding track record and focus on senior-secured lending are expected to complement Ridgepost’s existing GP ecosystem and differentiated investment strategies.
Who will manage Stellus Capital after its acquisition by Ridgepost Capital (RPC)?
Stellus will continue to be managed by its current partners, leading day-to-day operations and investment decisions. According to Ridgepost Capital, these partners will also oversee investment committee processes, maintaining continuity while operating within Ridgepost’s broader alternatives platform.
What market segment does Stellus Capital focus on after joining Ridgepost Capital?
Stellus focuses on providing senior-secured loans to sponsor-backed, lower-middle market companies in the United States. According to Ridgepost Capital, the firm is based in Houston and operates as an established direct lending platform within Ridgepost’s alternatives ecosystem.
What is Stellus Capital’s historical investment track record now under Ridgepost Capital?
Stellus’ senior team has invested together for more than 22 years, deploying over $10.5 billion. According to Ridgepost Capital, this capital has been invested across more than 375 companies, supporting its reputation as an experienced lower-middle market direct lender.
How stable is Stellus Capital’s revenue mix within Ridgepost Capital (RPC)?
More than 70% of Stellus’ fee-related revenue comes from permanent capital vehicles. According to Ridgepost Capital, this permanent capital base supports a recurring revenue profile across Stellus’ business development companies and private funds portfolios.
