Eaton Partners, a subsidiary of Stifel Financial, and RCP Advisors, a subsidiary of P10, have teamed up to launch Twelve Degrees, a new partnership that will invest in and support emerging and first-time alternative investment fund managers.
Twelve Degrees will couple Eaton’s placement agent and advisory capabilities with RCP’s access to lower-middle-market private equity fund managers. In addition to capital, Twelve Degrees will provide emerging and first-time managers strategic advice, back-office infrastructure, access to Stifel banking services, and marketing capabilities. These services will be provided in exchange for GP-level economics through a combination of anchor commitments, expansion capital, and working capital.
“Combining the leading fundraising, advisory, and capital solutions capabilities from Eaton Partners and the broader Stifel platform with RCP’s investment track record is truly what sets Twelve Degrees apart from traditional capital providers,” said Mary Hunt, a principal at RCP Advisors and a managing principal and portfolio manager at Twelve Degrees. “Together, we are excited to provide a truly value-additive offering that is uniquely tailored to the specific needs of emerging and first-time investment managers as they start and grow their businesses.”
“Emerging managers have historically outperformed established managers, and we believe there is a significant opportunity in the lower-middle-market private equity space,” said Jeff Eaton, the global co-head and managing partner at Eaton Partners and a managing principal at Twelve Degrees. “Twelve Degrees is well positioned to provide a holistic offering that leverages the unparalleled collective expertise, track records, and trusted brands of both firms in investing in and raising capital for best-in-class emerging managers.”
Ms. Hunt and Mr. Eaton will lead Twelve Degrees along with Charles Huebner, a managing partner at RCP, and Raj Patel, a partner at RCP. The senior team will be supported by over 120 private equity professionals from both organizations.
Rowayton, Connecticut-headquartered Eaton Partners advises and raises institutional capital for investment managers across multiple alternative strategies – private equity, private credit, real assets, real estate, and hedge funds/public market – in both the primary and secondary markets. Since its founding in 1983, Eaton has raised more than $130 billion for more than 175 alternative investment funds. The firm is a subsidiary of Stifel Financial (NYSE: SF) and has offices throughout North America, Europe and Asia.
RCP Advisors, a subsidiary of P10 (NYSE: PX), provides access to lower-middle-market private equity fund managers through funds of funds, secondary funds, and co-investment funds. The firm has $11.6 billion in committed capital. Chicago-headquartered RCP Advisors has $11.6 billion in committed capital and operates additional office in Dallas, Texas.
© 2022 Private Equity Professional | April 14, 2022
