P10, Inc. announces $1.6 billion closing of Bonaccord Capital Partners II, exceeding target and enhancing middle-market investment strategy.
Quiver AI Summary
P10, Inc. has announced the successful closing of its second GP Stakes fund, Bonaccord Capital Partners II, with total commitments reaching $1.6 billion, exceeding its target of $1.25 billion and representing a 117% increase compared to its predecessor fund. This fund focuses on providing growth capital and strategic support to middle-market private markets sponsors. Currently, BCP II is about 60% invested, with eight completed investments across various firms. The closing of the fund reflects strong demand for P10's distinctive approach in the private equity sector. P10 aims to support its partner sponsors and deliver unique access to GP stake solutions, continuing to enhance its operational resources for future growth initiatives.
Potential Positives
- Bonaccord Capital Partners II closed with $1.6 billion in total commitments, exceeding its target of $1.25 billion and showcasing strong investor demand.
- The Fund's capital raised represents a 117% growth compared to its predecessor fund, indicating significant momentum in P10's private equity strategy.
- Bonaccord has completed eight investments with a diversified portfolio across various sectors, enhancing its investment capability and market presence.
- The announcement reflects P10's commitment to delivering differentiated access and strategic support to its partner sponsors, reinforcing its position as a leader in private market solutions.
Potential Negatives
- The announcement may raise concerns regarding the company's ability to manage substantial growth, as BCP II's size is significantly larger than its predecessor, which could strain resources.
- The heavy reliance on forward-looking statements may create skepticism among investors due to the inherent uncertainties attached to such projections.
- The potential risks and uncertainties outlined in the press release suggest vulnerabilities in the company's operational and financial stability, which could affect investor confidence.
FAQ
What is Bonaccord Capital Partners II?
Bonaccord Capital Partners II is a private equity fund by P10 focused on growth capital for middle-market private markets sponsors, with $1.6 billion in commitments.
How much did Bonaccord Capital Partners II raise?
The fund raised a total of $1.6 billion, exceeding its target of $1.25 billion, marking a 117% increase from its predecessor.
What companies has Bonaccord invested in?
Bonaccord has invested in companies including Park Square Capital, Trivest Partners, and Shamrock Capital among others, totaling eight investments.
What distinguishes P10 in private markets?
P10 provides differentiated access to a diverse set of investment solutions within private markets, catering to over 3,800 global investors.
Who participated as fund counsel for BCP II?
Fried, Frank, Harris, Shriver & Jacobson LLP served as the fund counsel for Bonaccord Capital Partners II.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PX Insider Trading Activity
$PX insiders have traded $PX stock on the open market 50 times in the past 6 months. Of those trades, 1 have been purchases and 49 have been sales.
Here’s a breakdown of recent trading of $PX stock by insiders over the last 6 months:
- ALEXANDER I. ABELL has traded it 2 times. They made 0 purchases and 2 sales, selling 75,000 shares.
- DAVID M. MCCOY sold 55,545 shares.
- CAPITAL, LLC 210 has traded it 44 times. They made 1 purchase, buying 10,000 shares and 43 sales, selling 8,593,399 shares.
- EDWIN A. POSTON has traded it 2 times. They made 0 purchases and 2 sales, selling 74,827 shares.
- ANDREW ROWAN NELSON sold 9,307 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PX Hedge Fund Activity
We have seen 64 institutional investors add shares of $PX stock to their portfolio, and 32 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CAZ INVESTMENTS LP added 3,120,763 shares (+73.4%) to their portfolio in Q3 2024
- MACQUARIE GROUP LTD added 2,289,021 shares (+inf%) to their portfolio in Q3 2024
- FEDERATED HERMES, INC. removed 985,708 shares (-100.0%) from their portfolio in Q3 2024
- ARROWMARK COLORADO HOLDINGS LLC removed 808,494 shares (-100.0%) from their portfolio in Q3 2024
- SCHRODER INVESTMENT MANAGEMENT GROUP added 720,808 shares (+inf%) to their portfolio in Q3 2024
- FMR LLC added 513,476 shares (+19.9%) to their portfolio in Q3 2024
- ARTEMIS INVESTMENT MANAGEMENT LLP added 499,142 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DALLAS, Jan. 08, 2025 (GLOBE NEWSWIRE) --
P10, Inc.
(NYSE: PX), (“P10” or the “Company”), a leading private markets solutions provider, today announced that its strategy, Bonaccord Capital Partners (“Bonaccord”), a private equity business focused on providing growth capital and strategic support to middle-market private markets sponsors, closed on its second GP Stakes fund, Bonaccord Capital Partners II (“BCP II” or the “Fund”), with $1.6 billion in total commitments.
The Fund closed at its revised hard cap and above its target of $1.25 billion, having grown by 117% compared to its predecessor fund Bonaccord Capital Partners I (“BCP I”), a 2021 vintage that closed with $738.95 million.
“Bonaccord’s impressive fund close advances our strategic roadmap and highlights the strong demand for our attractive middle and lower middle market focus,” said Luke Sarsfield, P10 Chairman and Chief Executive Officer. “Looking ahead, Bonaccord will remain committed to delivering a differentiated approach to value creation for partner sponsors, while offering investors differentiated access to GP stake solutions.”
Bonaccord has invested $2.6 billion across 15 investments, including $1.0 billion of co-investment. BCP II is approximately 60% invested and has completed eight investments in Park Square Capital, Trivest Partners, Shamrock Capital, VMG Partners, Synova Capital, Revelstoke Capital Partners, Kayne Anderson Private Credit, and Lead Edge Capital. Bonaccord is continuing to invest in team and corporate resources to support this larger fund and anticipated future initiatives.
“The closing of Bonaccord Capital Partners II is a testament to the exceptional caliber of our partner sponsors, and we are grateful to share a vision of long-term growth and partnership with all of them,” said Ajay Chitkara, Managing Partner at Bonaccord. “We thank our investors for the confidence they have placed in us to execute our investment strategy, and we will continually endeavor to achieve ongoing success for all Bonaccord stakeholders.”
Fried, Frank, Harris, Shriver & Jacobson LLP served as fund counsel.
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 September 30, 2024, P10’s products have a global investor base of more than 3,800 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
.
Forward-Looking Statements
Some of the statements in this release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “believe,” “estimate,” “continue,” “anticipate,” “intend,” “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management’s current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance, and business. The inclusion of any forward-looking information in this release should not be regarded as a representation that the future plans, estimates, or expectations contemplated will be achieved. Forward-looking statements reflect management’s current plans, estimates, and expectations, and are inherently uncertain. All forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors that may cause actual results to be materially different; global and domestic market and business conditions; successful execution of business and growth strategies and regulatory factors relevant to our business; changes in our tax status; our ability to maintain our fee structure; our ability to attract and retain key employees; our ability to manage our obligations under our debt agreements; our ability to make acquisitions and successfully integrate the businesses we acquire; assumptions relating to our operations, financial results, financial condition, business prospects and growth strategy; and our ability to manage the effects of events outside of our control. The foregoing list of factors is not exhaustive. For more information regarding these risks and uncertainties as well as additional risks that we face, you should refer to the “Risk Factors” included in our annual report on Form 10-K for the year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (“SEC”) on March 13, 2024, and in our subsequent reports filed from time to time with the SEC. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.
About Bonaccord Capital Partners
Bonaccord Capital Partners ("Bonaccord") is a private equity business focused on providing growth capital and strategic support 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, Bonaccord seeks to support transformative initiatives and portfolio objectives that help its partner sponsors reach their potential and establish enduring institutions. Bonaccord 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
.
P10 Investor Contact:
info@p10alts.com
P10 Media Contact:
Josh Clarkson
Taylor Donahue
pro-p10@prosek.com
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