PE Funds Sponsor RCP Advisors Closes Seventeenth Fund at $328M

Chicago-based RCP Advisors (RCP), a sponsor of private equity funds-of-funds, secondary funds, and co-investment funds focused on North American lower middle market buyouts, closed its RCP Fund XVII with 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.

The latest fund will employ the same investment strategy as RCP’s predecessor primary funds-of-funds by targeting investments with buyout fund managers with 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.

With more than $12.6 billion in committed capital, RCP believes it is one of the largest fund sponsors focused on the lower middle market buyout segment of the North American private equity market.