RCP Advisors has held an above-target and final close of RCP Small and Emerging Fund III LP (Fund III) with $170 million in capital commitments.
Limited partners in the new fund included family offices, insurance companies, and high-net-worth individuals. Fund III will continue RCP’s strategy of investing in North American buyout fund managers raising second institutional funds or earlier, with fund targets generally capped at $300 million.
“We want to express our sincere gratitude to our limited partners for their continued faith and confidence in our team and strategy,” said Mary Hunt, a principal and co-portfolio manager at RCP Advisors. “Small company buyouts continue to provide compelling investment opportunities, and we are proud to support promising new managers in the space through our small and emerging strategy.”
RCP Advisors also invests in single asset and portfolio secondary transactions and makes direct co-investments in partnership with North American-based lower middle market private equity firms. The firm’s secondary investments range from $10 million to $50 million per transaction, and its direct co-investments range in size from $5 million to $30 million.
RCP’s most recent direct fund, RCPDirect IV LP, closed in July 2022 with $645 million of capital. In addition, through its Five Points Capital affiliate, RCP invests in direct senior credit opportunities in United States-headquartered and private equity-sponsored companies that have EBITDA from $3 million to $20 million.
RCP Advisors is a subsidiary of publicly traded P10 (NYSE: PX). The Chicago-headquartered firm has $15 billion in committed capital and operates an additional office in Dallas, Texas.
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