Secondary Funds
Overview
We acquire attractive secondary positions in private equity investments with superior risk-adjusted return potential.1
The secondary market provides buyers with the opportunity to access funds and direct investments which are further along in their investment cycle, offering several desirable benefits. Secondary transactions generally allow for reduced blind pool risk and a muted J-curve. The secondary market has grown significantly in recent years. Active portfolio management on the part of large limited partners has provided a steady flow of traditional secondary fund opportunities. The rapid growth of the GP-led secondary market (through single-asset or multi-asset continuation vehicles) provides additional attractive deal flow.
The secondary market is an exclusive space, which highlights the importance of RCP’s relationships in the small buyout sector. Approximately half of our secondary purchase volume is either sourced through our network of GPs and sellers or is conducted in partnership with existing manager and LP relationships.
The RCP Advantage
Our relationships and data result in deal sourcing and underwriting advantages. Our investors benefit from a less efficient market where superior relationships and information matter.
Access
RCP’s strong relationships with general and limited partner sellers in the small buyout sector provide significant advantages in sourcing attractive opportunities.1
Process
RCP’s market intelligence and systematic process provide the framework for consistent analysis. RCP marries its proprietary data with a rigorous and consistent analytic investment process to yield attractive returns.2
Execution
RCP is a preferred buyer, working alongside limited partners, advisors, and general partners to manage expectations through every step of the secondary investment process.
Who we invest with
We purchase private equity assets or fund interests with deal sizes between ~$10 million and $50 million.
We are active investors in both traditional secondary limited partner positions and in GP-led single asset and multi-asset transactions.3
Meet our Secondary Funds’ portfolio managers
Our team brings decades of experience to our investors.
Featured news
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Insights The Case for Small Buyouts
Part II: Observed Drivers of Returns in the Lower Middle Market
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News PitchBook Recognizes RCP’s Secondary and Co-Investment Program with Top Rankings
RCP Advisors is pleased to announce that its secondary family of funds and co-investment program have been recognized…
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News RCP Advisors Fireside Chat with Giovanni Amodeo of ION Analytics
Alex Abell, Managing Partner at RCP Advisors, on small-mid market investing in US.
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