RCP Fund XVII Exceeds Target Fund Size, Closing $328 Million in Aggregate Capital Commitments
April 4, 2023 – 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 Fund XVII (the “Fund”). The Fund closed on approximately $328 million in aggregate commitments, exceeding its target of $300 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.
“We are grateful to our investors for the fundraising success of RCP Fund XVII, which exceeded its target despite an increasingly challenging macroeconomic environment. We will remain specially focused on partnering with the premier lower middle market buyout managers in the United States and Canada as we have for over 20 years,” said Tom Danis, Managing Partner at RCP Advisors.
RCP Fund XVII will adhere to the same investment strategy employed by RCP’s predecessor primary funds-of-funds. The Fund will generally target investments with buyout fund managers primarily targeting less than $1 billion in committed capital. These managers will, in turn, generally seek to make control-oriented investments in established, small to mid-sized companies with approximately $3 million to $25 million in EBITDA.
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 $12.6 billion in committed capital and 54 professionals as of April 4, 2023, 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.