The private markets solutions provider, P10, Inc. has announced the oversubscribed close of its latest co-investment fund, RCPDirect V, LP, with a capital commitment of approximately $994 million. The fund will be managed by RCP Advisors, a subsidiary of P10, Inc. and a leading private equity investment firm that provides access to North American small buyout fund managers.
Key Highlights of RCPDirect V, LP
- Capital commitment of approximately $994 million
- Exceeds target of $800 million
- Broad base of limited partners, including family offices, insurance companies, and high-net-worth individuals
- Primary fund managers will partner with lead buyout fund managers who raise funds between $100 million and $1 billion in committed capital
- Minority equity investments between $7.5 million and $40 million in lower middle market companies with $25 million to $500 million in enterprise value
The fund will be generally focused on investing in lower middle market companies with a focus on enterprise value of $25 million to $500 million. The fund will also partner with lead buyout fund managers who raise funds between $100 million and $1 billion in committed capital.
Quote from Luke Sarsfield, P10 Chairman and CEO
“ We congratulate RCP Advisors on the oversubscribed close of RCP Direct V, which speaks to the firm’s market-leading position and strong track record. With nearly 25 years of experience in the lower middle market, RCP brings deep expertise to our platform, and we are confident it will continue to deliver value for limited partners.”
Quote from Jon Soffer, Partner and Co-Portfolio Manager at RCP Advisors
“Thank you to our global limited partners for your support. With our primary funds and secondary strategies, as well as the continued deployment of our fifth direct co-investment fund, RCP Advisors remains a comprehensive partner to both general partners and limited partners within the lower middle market buyout space. The continued support, despite challenging macroeconomic conditions, underscores our limited partners’ confidence in the small buyout market and our ability to collaborate with exceptional general partners to identify compelling investment opportunities.”
Quote from Dave McCoy, Managing Partner and Co-Portfolio Manager at RCP Advisors
“The continued support, despite challenging macroeconomic conditions, underscores our limited partners’ confidence in the small buyout market and our ability to collaborate with exceptional general partners to identify compelling investment opportunities. We are fortunate to leverage our network and 24-year history to partner with general partners who implement initiatives to grow and improve their portfolio companies regardless of market conditions.”
About P10
P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10’s mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of December 31, 2024, P10’s products have a global investor base of more than 3,800 investors across 50 states, 60 countries, and six continents.
| Investor Types | Examples of Investors |
|---|---|
| Family Offices | Goldman Sachs Asset Management, Blackstone, and FMR, LLC |
| Insurance Companies | Liberty Mutual Insurance Company, AXA, and Zurich Insurance Group |
| High-Net-Worth Individuals | David Koch, Michael Bloomberg, and Warren Buffett |
About RCP Advisors
RCP Advisors, a subsidiary of P10, Inc. is a private equity investment firm that provides access to North American small buyout fund managers through primary funds, secondary funds, and co-investment funds, as well as customized solutions and research services. RCP believes it is one of the largest fund sponsors focused on this niche, with over $16.8 billion in committed capital and 56 full-time professionals as of April 7, 2025.
Definitions
A list of the top-performing investment managers, as ranked by their performance in managing private equity funds.
A type of investment that involves investing in private companies, typically with the goal of eventually taking them public or selling them for a profit.
A segment of the market that refers to companies with an enterprise value of between $25 million and $500 million.
Forward-Looking Statements
Some of the statements in this 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 information contained in this press release does not constitute investment advice or an offer or sale of any security or investment product. Offerings are made only pursuant to a private offering memorandum containing important information. Statements are made as of the date of this release, and there is no implication that the information contained herein is correct as of any time subsequent to such date. Some of the statements in this release may constitute “forward-looking statements” within the meaning of the federal securities laws. Any forward-looking statements inherently are subject to a variety of risks and uncertainties that could cause actual results or events to differ materially from those results or events predicted or anticipated by these statements.
