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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 has successfully closed RCP Fund XVII with approximately $328 million in commitments, surpassing its $300 million target. This fund, aimed at North American lower middle market buyouts, features a diverse investor base including family offices and public pension plans. Tom Danis, Managing Partner at RCP Advisors, expressed gratitude for the support amidst challenging economic conditions. The fund will continue the established investment strategy, targeting buyout managers with less than $1 billion in committed capital, focusing on small to mid-sized companies with EBITDA between $3 million and $25 million.
P10, Inc. (NYSE: PX) reported a record financial performance for 2022, showcasing remarkable double-digit year-over-year growth. In Q4 2022, Fee Paying Assets Under Management reached $21.2 billion, up 23% from the previous year. The company recorded revenue of $58.3 million, a 28% increase, and a substantial GAAP net income of $4.8 million, reflecting a 221% rise. For the full fiscal year 2022, total revenue was $198.4 million, a 32% increase, while fully diluted GAAP EPS grew to $0.24, marking a 194% rise. A quarterly dividend of $0.03 per share was declared, payable on March 31, 2023.
P10, a prominent private markets solutions provider (NYSE: PX), announced it will release its Q4 and full-year 2022 results on March 6, 2023, after U.S. market close.
A conference call will follow at 5:00 PM Eastern Time, accessible via phone or online. P10 aims to offer differentiated access to investment solutions in private markets, serving over 3,000 global investors across 46 states and 54 countries as of September 30, 2022. The company has provisions in its Certificate of Incorporation to protect tax benefits related to net operating losses, restricting share transfers to prevent new 4.99% shareholders.
On January 24, 2023, RCP Advisors announced several key promotions following a successful year in 2022. Michael Rice and Jon Soffer have been promoted to Partner, while Peter Jasaitis and Andrew Ogletree have been elevated to Principal. Julie Douglass becomes Manager, and Alex Williams is now Vice President. Managing Partner Charlie Huebner emphasized that these promotions enhance RCP's leadership talent and commitment to serving investors. Established in 2001, RCP specializes in private equity investments in the lower middle market, boasting over $12.6 billion in committed capital and 55 professionals.
P10, a private markets solutions provider (NYSE: PX), has authorized an increase to its stock buyback program, allowing for the repurchase of up to $20 million of its Class A and Class B Common Stock. The company plans to finance this program using available cash, its existing credit facility, and future operating cash flows. Repurchases may occur in various market conditions and the decision on timing will depend on the stock's market price, trading volume, and P10’s working capital needs. This buyback aims to enhance shareholder value and confidence in the company’s financial position.
P10, Inc. (NYSE: PX) is celebrating its one-year anniversary of being publicly listed on the New York Stock Exchange. On December 5, 2022, leadership will ring the Opening Bell, marking a milestone for the company.
P10 is a prominent provider of private market solutions, serving a global investor base of over 3,000 clients across 54 countries. The company emphasizes its commitment to delivering unique investment services.
To safeguard tax benefits related to net operating losses, P10 has restrictions on share ownership, preventing new shareholders from acquiring over 4.99% of the company.
P10, Inc. (NYSE: PX) announced impressive financial results for Q3 2022, showcasing a 31% year-over-year revenue increase totaling $50 million and a 17% rise in fee-paying assets under management, reaching $19 billion. The company's GAAP net income rose by 38% to $5.6 million, while adjusted net income surged 56% to $25.1 million. A quarterly cash dividend of $0.03 per share is scheduled for December 20, 2022. Management remains optimistic about future growth, emphasizing their strong investment strategies.
P10, Inc. (NYSE: PX) will announce its third quarter 2022 results on November 10, 2022, before 8:30 a.m. ET. The company will host a conference call at the same time, accessible via telephone or online. P10 provides multi-asset class private market solutions, with a global investor base exceeding 2,700 across 49 states and 53 countries as of June 30, 2022. Their offerings target diverse investment needs within private markets. The company also has specific ownership limitations to protect tax benefits related to net operating losses.
P10, Inc. (NYSE: PX) will release its Q3 2022 earnings on November 10, 2022, post-market closure. The company will also host a conference call at 5:00 p.m. ET on the same date. Interested parties can join the call using the provided access codes. P10 offers multi-asset class private market solutions and serves over 2,700 investors globally, including major pension funds and financial institutions. For more details, visit the investor relations page on their website.
P10, Inc. (NYSE: PX) has successfully acquired Westech Investment Advisors LLC for a total purchase price of $97 million in cash and 3,916,666 membership units. This acquisition is anticipated to contribute over $12.5 million in Adjusted EBITDA in its first full year. P10 expects to launch WTI’s next flagship fund in 2024, potentially enhancing management fee revenues. P10 aims to extend its private markets solutions and capitalizes on WTI’s 40-year experience in venture debt, further diversifying its investment solutions.
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