RCP Advisors Closes $285M Buyout Fund

RCP Advisors, a private equity investment firm that provides access to North American small buyout fund managers through primary and secondary funds, and co-investment funds, announced the final close of RCP Fund XVIII, which received roughly $285 million in total commitments.

The fund’s limited partner base includes both new and current investors, such as family offices, high-net-worth individuals, foundations, public pension systems, and endowments.

“Small company buyouts continue to provide compelling investment opportunities that we believe are differentiated from and superior to other sectors within the private equity market,” said Tom Danis, managing partner at RCP Advisors.

The fund will use the same investment strategy as RCP’s previous primary funds, focusing on investments with buyout fund managers with less than $1 billion in committed capital.

These managers will generally seek to make control-oriented investments in established, small to mid-sized companies with approximately $3 million to $25 million in EBITDA, the firm said.

RCP raised $328 million for its previous fund in April 2023, above its $300 million target.

The Chicago-based firm, a subsidiary of P10, believes it is one of the largest fund sponsors focused on this niche, with about $14 billion in committed capital.