Strong Growth in Fee-Paying Assets Under Management
P10 ended the third quarter with $29.1 billion of total fee-paying assets under management, representing a 17% increase year-over-year.
Successful Fundraising and Deployment
Raised and deployed $915 million in organic gross new fee-paying assets under management. The company exceeded its annual organic gross fundraising guidance for 2025 and raised its full-year target to $5 billion.
Commingled Fund Success
RCP's Secondary Fund V closed at $1.26 billion, exceeding the target of $1 billion, and was closed in just 13 months compared to 25 months for its predecessor.
Strong Balance Sheet
Cash and cash equivalents at the end of the third quarter were approximately $40 million, with a strong balance sheet and ample borrowing capacity to support future M&A.
Growth in Core Fee-Related Revenue
Fee-related revenue grew 5% year-to-date, with an 11% increase when excluding direct and secondary catch-up fees.