RCP Secondary Opportunity Fund IV Exceeds Target Fund Size, Closing $797 Million in Aggregate Capital Commitments

Rhea-AI Summary

RCP Advisors announced the final closing of RCP Secondary Opportunity Fund IV, raising approximately $797 million, surpassing its target of $500 million. The fund attracted a broad LP base of both new and existing investors, including family offices, high-net-worth individuals, foundations, public pension plans, and endowments. RCP SOF IV will target investments in private equity funds through secondary market purchases or other secondary transactions.

CHICAGO, July 12, 2023 (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 RCP Secondary Opportunity Fund IV (“RCP SOF IV” or the “Fund”). The Fund closed on approximately $797 million in aggregate commitments, exceeding its target of $500 million. The Fund has a broad LP base of both new and existing investors, including family offices, high-net-worth individuals, foundations, public pension plans, and endowments.

“In a difficult fundraise market, the positive market reaction to RCP Secondary Opportunity Fund IV shows that our differentiated focus on the small buyout fund market resonates with investors,” says Jon Madorsky, Managing Partner and Co-Portfolio Manager. “The strong performance to date of our earlier secondary funds, as well as the unique market opportunity, allowed us to retain many of our existing LPs and attract a high-quality roster of new investors. We are pleased with this success during the fundraising phase and look forward to a successful investment period for RCP SOF IV,” says Raj Patel, Partner and Co-Portfolio Manager.

Generally, RCP SOF IV represents a continuation of the investment style and approach that was established with RCP’s predecessor secondary funds. The Fund will target investments, primarily through secondary market purchases or other secondary transactions (through both LP and GP-led transactions), in private equity funds that generally focus on leveraged buyout, growth, or restructuring transactions.

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 more than $13 billion in committed capital and 56 professionals as of July 12, 2023, RCP believes it is one of the largest fund sponsors focused on the North American private equity market's lower middle market buyout segment.

FAQ

What is the name of the fund announced by RCP Advisors?

The fund is called RCP Secondary Opportunity Fund IV.

How much money was raised by the fund?

The fund closed on approximately $797 million in aggregate commitments.

Who are the investors in RCP SOF IV?

The fund attracted a broad LP base of both new and existing investors, including family offices, high-net-worth individuals, foundations, public pension plans, and endowments.

What types of investments will RCP SOF IV target?

RCP SOF IV will target investments in private equity funds that generally focus on leveraged buyout, growth, or restructuring transactions through secondary market purchases or other secondary transactions.