Bonaccord Capital Partners Acquires Minority Interest in Lead Edge Capital

Rhea-AI Summary

P10, Inc. (NYSE: PX) announces Bonaccord Capital Partners' acquisition of a minority interest in Lead Edge Capital, a growth equity firm focused on investing in software, internet, consumer, and tech-enabled businesses globally. The strategic investment aims to support Lead Edge's value creation initiatives and further growth, without altering its day-to-day operations.

Positive

• Bonaccord Capital Partners acquires a minority equity interest in Lead Edge Capital.
• The investment is aimed at supporting Lead Edge's value creation initiatives and further growth.
• No changes will be made to Lead Edge's investment process, day-to-day management, or firm operations.
• Bonaccord's strategic development platform will aid in driving tangible, value-added growth across Lead Edge's portfolio.
• The transaction highlights Bonaccord as a preferred long-term strategic capital partner for mid-market private markets firms.
• Evercore acted as financial adviser to Lead Edge Capital during the transaction.

Negative

• None.

DALLAS, April 24, 2024 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE: PX), a leading private markets solutions provider, today announced that its affiliated manager, Bonaccord Capital Partners (“Bonaccord”), a private equity business focused on providing growth capital to exceptional mid-market private markets sponsors, has acquired a passive minority equity interest in Lead Edge Capital (“Lead Edge”), a growth equity firm focused on investing in market-leading software, internet, consumer, and tech-enabled businesses globally.

“On behalf of P10, we applaud Bonaccord on its investment in Lead Edge Capital,” said Luke Sarsfield, P10 Chief Executive Officer. “This transaction is reflective of Bonaccord’s position as a partner of choice for leading middle market and lower middle market private markets firms looking for a long-term strategic capital partner. We are thrilled to see them continue to grow their portfolio of high-quality investments and to be able to bring access to such differentiated, compelling investments to our clients.”

Bonaccord’s investment and strategic development platform will support Lead Edge’s value creation initiatives and further growth. There will be no change to Lead Edge’s investment process, day-to-day management, or firm operations.

“Lead Edge Capital’s ability to leverage its strategic investor base and drive tangible, value-added growth across its portfolio is unique and exceptional,” said Ajay Chitkara, Managing Partner of Bonaccord. “Over the last several years, we have built a strong relationship with Lead Edge, and we are thrilled to partner with them as they continue to build and strategically scale their firm to deliver compelling returns for their investors.”

Evercore served as financial adviser to Lead Edge Capital. Kirkland & Ellis LLP and Goodwin Procter LLP acted as legal counsel to Lead Edge Capital and Fried, Frank, Harris, Shriver & Jacobson LLP advised Bonaccord.

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, 2023, P10 has a global investor base of more than 3,600 investors across 50 states, 60 countries, and six continents, which includes some of the world’s largest pension funds, endowments, foundations, corporate pensions, and financial institutions. Visit www.p10alts.com.

About Bonaccord Capital Partners
Bonaccord Capital Partners ("BCP") is a private equity business focused on providing growth capital to exceptional mid-market private markets sponsors spanning private equity, private credit, and real estate and real assets. By leveraging its strategic relationships, institutional capabilities, and strategic development expertise, BCP seeks to support transformative initiatives that help its partner sponsors reach their potential and establish enduring institutions. BCP aims to support broader portfolio objectives through partnerships with its partner sponsors. BCP is a part of P10, Inc. (NYSE: PX), a leading multi-asset class private markets solutions provider in the alternative asset management industry. For more information, please visit www.bonaccordcapital.com.

About Lead Edge Capital
Lead Edge Capital is a $5 billion growth equity firm investing in software, internet, and tech-enabled businesses globally. The firm has invested in a number of major software and internet companies around the world, including Alibaba Group, Arrive Logistics, Asana, Azul Systems, Bazaarvoice, Benchling, Clearscore, Duo Security, Grafana, GrowthZone, Holistiplan, LeanStaffing, LiveView Technologies, Pacemate, Safesend, Signal Sciences, Tempo, Toast, Wise, and YouSign. Lead Edge has invested in more than 100 companies worldwide and has seen over 60 portfolio companies achieve an exit. One of the main drivers of Lead Edge’s success is its unique investor base, a network of 700+ executives, entrepreneurs, and dealmakers who have built and run some of the world’s most successful companies. In addition to providing flexible capital, Lead Edge leverages this global network to connect portfolio companies with the customers, partners, talent, and advisors needed to accelerate growth. Lead Edge Capital was founded in 2009 and has offices in New York City and Santa Barbara.

Ownership Limitations
P10’s Certificate of Incorporation contains certain provisions for the protection of tax benefits relating to P10’s net operating losses. Such provisions generally void transfers of shares that would result in the creation of a new 4.99% shareholder or result in an existing 4.99% shareholder acquiring additional shares of P10.

P10 Investor Contact:
info@p10alts.com

P10 Media Contact:
Josh Clarkson
jclarkson@prosek.com

FAQ

What is the significance of Bonaccord Capital Partners' acquisition in Lead Edge Capital?

Bonaccord acquired a passive minority equity interest in Lead Edge Capital, aiming to support value creation initiatives and further growth.

Will there be any changes to Lead Edge's operations post the investment by Bonaccord?

No changes will occur to Lead Edge's investment process, day-to-day management, or firm operations due to Bonaccord's investment.

Who served as the financial adviser to Lead Edge Capital during the transaction?

Evercore acted as the financial adviser to Lead Edge Capital in the acquisition process.

What areas does Lead Edge Capital focus on in terms of investments?

Lead Edge Capital focuses on investing in software, internet, consumer, and tech-enabled businesses globally.

What does Bonaccord Capital Partners specialize in?

Bonaccord Capital Partners is a private equity business focused on providing growth capital to mid-market private markets sponsors.