RCPDirect IV Exceeds Target Fund Size, Closing $645.4 Million in Aggregate Capital Commitments

Rhea-AI Summary

RCP Advisors has successfully closed RCPDirect IV, a private equity fund, raising approximately $645.4 million, exceeding its target of $500 million. The fund attracted a broad base of investors including endowments, foundations, and high-net-worth individuals. The investment strategy will focus on partnering with buyout fund managers raising $100 million to $1 billion and making minority equity investments of $5 million to $30 million in lower middle market companies valued between $25 million and $500 million. RCP Advisors manages over $11.9 billion in committed capital.

Positive

• Fund oversubscribed at approximately $645.4 million, exceeding target of $500 million.
• Diverse investor base including endowments and public pension plans.
• Continues RCP's investment strategy in lower middle market buyouts.

Negative

• None.

CHICAGO, July 07, 2022 (GLOBE NEWSWIRE) -- RCP Advisors, a sponsor of private equity funds-of-funds, secondary funds, and co-investment funds focused on North American lower middle market buyouts, announced the final closing of RCPDirect IV (the “Fund”). The Fund was oversubscribed, with approximately $645.4 million in aggregate commitments, exceeding its target of $500 million. The Fund has a broad LP base of both new and existing investors, including endowments, foundations, public pension plans, family offices, and high-net-worth individuals.

“We are grateful for the support from our global limited partner base. The recent closes of our fund-of-funds and secondary fund, as well as our continued deployment of our fourth direct co-investment fund, allows RCP Advisors to remain a comprehensive partner to both GPs and LPs within the lower middle market buyout space,” said Jon Soffer, Principal and Co-Portfolio Manager at RCP Advisors.

“The continued support despite the challenging macro conditions highlights our LPs’ faith in the lower middle market and our ability to find tremendous GPs to partner with who can identify and execute on initiatives that improve their portfolio companies regardless of market conditions. We are fortunate to be able to leverage our network and twenty-year history to work with such great partners,” said Dave McCoy, Managing Partner and Co-Portfolio Manager at RCP Advisors.

RCPDirect IV represents a continuation of the same investment strategy employed by RCP’s previous co-investment funds. The Fund will generally partner with lead buyout fund managers who raise funds between $100 million and $1 billion in committed capital and will make minority equity investments between $5 million and $30 million in lower middle market companies – typically, with $25 million to $500 million in enterprise value.

About RCP Advisors
Founded in 2001, RCP Advisors, a subsidiary of P10, Inc. (NYSE: PX), is a private equity investment firm that provides access to lower middle market private equity fund managers through funds-of-funds, secondary funds, and co-investment funds. Additionally, RCP Advisors provides advisory and research services. With over $11.9 billion in committed capital and 48 professionals as of July 7, 2022, RCP believes that it is one of the largest fund sponsors focused on the lower middle market buyout segment of the North American private equity market.

Media Contact:
Chris Bradley
Director, Marketing and Communications
RCP Advisors
353 N. Clark Street, Suite 3500
Chicago, IL 60654
312.229.4149
cbradley@rcpadvisors.com
www.rcpadvisors.com

FAQ

What was the total commitment for RCPDirect IV?

RCPDirect IV closed with approximately $645.4 million in commitments.

How much did RCPDirect IV exceed its target?

The fund exceeded its target by approximately $145.4 million.

What is the investment strategy of RCPDirect IV?

RCPDirect IV focuses on minority equity investments ranging from $5 million to $30 million in lower middle market companies.

What is the range of funds RCP Advisors partners with?

RCP Advisors partners with buyout fund managers raising between $100 million and $1 billion.

How much capital does RCP Advisors manage?

RCP Advisors manages over $11.9 billion in committed capital.