Welcome to our dedicated page for P10 news (Ticker: PX), a resource for investors and traders seeking the latest updates and insights on P10 stock.
P10, Inc. (NYSE: PX) is a leading player in the alternative asset management sector, specializing in multi-asset class private market solutions. The company offers a broad range of investment solutions designed to meet the diverse needs of its clients. These solutions include specialized funds, separate accounts, secondary investments, direct investments, and co-investments, spanning various asset classes and geographies. P10 focuses primarily on the middle and lower-middle markets, providing services in Private Equity, Venture Capital, Impact Investing, and Private Credit.
P10's revenue model is robust, primarily driven by recurring management and advisory fees on committed capital, which typically remain locked up for ten to fifteen years. This long-term commitment provides a stable financial outlook and supports the company's strategic growth initiatives.
In recent years, P10 has achieved notable milestones. The company reported substantial financial growth in 2023, with double-digit asset growth and strong revenue performance. As of December 31, 2023, P10 managed a global investor base that includes over 3,600 investors across 50 states, 60 countries, and six continents. This diverse investor base features some of the world’s largest pension funds, endowments, foundations, corporate pensions, and financial institutions.
Recent developments include key executive appointments to strengthen P10's leadership and strategic direction. In February 2024, Arjay Jensen was appointed as EVP, Head of Strategy and M&A, bringing over 20 years of dealmaking expertise. Mark Hood was promoted to Chief Administrative Officer, overseeing various operational functions. In April 2024, Melodie Craft joined as General Counsel, providing strategic guidance on legal and regulatory matters.
P10's commitment to its investors is further underscored by its proactive corporate governance. The company’s Board of Directors has authorized a stock repurchase program and declared quarterly cash dividends, reflecting its strong financial health and commitment to shareholder value. Additionally, the company recently terminated its stockholder rights plan, indicating confidence in its tax benefits preservation strategy.
P10 continues to innovate and expand its market presence. The company is capitalizing on opportunities in the alternatives sector, especially in the middle market, and remains focused on executing strategic priorities and investing in its platform to drive long-term growth.
For more information about P10, visit their official website at www.p10alts.com.
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.
P10, Inc. (NYSE: PX), a leading private markets solutions provider, is hosting an Investor Day in New York on September 19, 2024. The event, starting at 8:30 a.m. Eastern Time, will feature presentations from P10's management team and strategy leadership. They will discuss the company's strategic vision, investment strategies, growth levers, and financial outlook.
The formal presentations will be followed by a Q&A session, with the webcast portion concluding around 12:30 p.m. Eastern Time. Investors can access the live webcast and supporting materials through a provided link. A replay will be available on P10's investor relations page after the event.
FAQ
What is the current stock price of P10 (PX)?
What is the market cap of P10 (PX)?
What does P10, Inc. specialize in?
How does P10 generate revenue?
Who are P10’s primary clients?
What recent executive appointments has P10 made?
What is P10's approach to corporate governance?
What distinguishes P10’s investment solutions?
How has P10 performed financially in recent years?
What is P10's mission?
How does P10 support long-term growth?
Where can I find more information about P10?
