文章核心观点 - 公司将于2024年8月8日发布2024年第二季度财报[1][2] - 公司将于当日下午5点东部时间举行财报电话会议[2] - 公司是一家领先的私募市场解决方案提供商,为投资者提供多种私募市场投资方案[4] - 截至2024年3月31日,公司的全球投资者基础超过3,600名,遍及50个州、60个国家和6个大洲,包括一些世界上最大的养老基金、大学基金会和金融机构[4] 公司概况 - 公司名称为P10,Inc.,在纽约证券交易所上市,股票代码为PX[1][4] - 公司是一家领先的私募市场解决方案提供商,致力于为投资者提供多样化的私募市场投资方案[4] - 公司的全球投资者基础超过3,600名,遍及50个州、60个国家和6个大洲,包括一些世界上最大的养老基金、大学基金会和金融机构[4] 公司股权结构 - 公司的公司章程包含一些保护税收利益的条款,这些条款通常会使任何导致出现新的4.99%股东或现有4.99%股东增持更多股份的股份转让无效[5]

DALLAS, July 09, 2024 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE: PX), a leading private markets solutions provider, today announced that its affiliated manager, Hark Capital ("Hark"), a provider of flexible Net Asset Value ("NAV") credit solutions to lower middle market sponsors, announced the final closing of Hark Capital IV ("Fund IV" or the "Fund"). With $645 million in capital commitments, inclusive of LP and GP commitments, the Fund meaningfully exceeded its $500 million cover. The Fund received strong reups ...

The total capital commitments for Fund IV represent more than a 60% increase compared to its Fund III, and an increase of approximately 220% compared to Fund II. Hark provides NAV loans to lower middle market private equity and growth equity funds, their portfolio companies, and their management companies. These loans are non-dilutive and supply growth and support capital. The firm has carved out a niche strategy that provides its limited partners an opportunity to achieve attractive risk-adjusted returns a ...

DALLAS, July 01, 2024 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE:PX), a leading private markets solutions provider, today announced that its affiliated manager, RCP Advisors ("RCP"), a private equity investment firm that provides access to North American small buyout fund managers through primary funds, secondary funds, and co-investment funds, launched its new website and refreshed brand identity. "This new brand identity clearly and succinctly reinforces RCP Advisors' value proposition as investors seek attracti ...

"The Board is unified in its view that Tracey will provide critical industry expertise, strategic guidance, and prudent stewardship as Lead Independent Director," said Luke Sarsfield, P10 Chairman and Chief Executive Officer. "As P10 executes its growth plan, Tracey's role establishes strong governance policy that will enable effective oversight and support from our experienced, diverse Board." P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry ...

At the Annual Meeting, the Company's stockholders: Elected three Class III Directors to serve on the Board until the 2027 annual meeting of stockholders and until their successors are duly elected and qualified (Proposal 1); Approved an amendment to the P10, Inc. 2021 Incentive Plan to increase the number of shares issuable under the Plan by 11,000,000 shares (Proposal 2); and Ratified the appointment of KPMG LLP as the Company's independent registered public accounting firm to audit the Company's financial ...

DALLAS, May 20, 2024 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE: PX), a leading private markets solutions provider, today announced that its affiliated manager, RCP Advisors, a private equity investment firm that provides access to North American small buyout fund managers through primary funds, secondary funds, and co-investment funds, announced the final closing of RCP Fund XVIII ("Fund XVIII" or the "Fund"). "We are thrilled to announce this milestone for RCP Advisors and the P10 platform on the closing of Fund ...

DALLAS, May 20, 2024 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE: PX), a leading private markets solutions provider, today announced that its affiliated manager, RCP Advisors, a private equity investment firm that provides access to North American small buyout fund managers through primary funds, secondary funds, and co-investment funds, announced the final closing of RCP Fund XVIII ("Fund XVIII" or the "Fund"). "We are thrilled to announce this milestone for RCP Advisors and the P10 platform on the closing of Fund ...

"We want to express our sincere gratitude to our limited partners for their continued faith and confidence in our team and strategy. 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. We will continue to leverage our industry-leading research, data, and analytics in seeking to realize our goal of generating top- quartile performance for our investors," said Tom Danis, Managing P ...

财务数据和关键指标变化 - 公司在第一季度实现了强劲的财务业绩,实现了16%的费用相关收入同比增长和9%的费用相关收益同比增长,费用相关收益率为47% [7][24][25] - 公司预计全年费用相关收益率将维持在45%左右的水平,略高于年度预期 [7] 各条业务线数据和关键指标变化 - 私募股权策略在第一季度筹集和部署了2.13亿美元,风险投资解决方案筹集和部署了3.39亿美元,信贷策略增加了9900万美元的收费资产管理规模 [23] - 其中TrueBridge风险投资策略在第一季度筹集了2.33亿美元 [23] 各个市场数据和关键指标变化 - 公司认为中低端中型市场相对上端中型市场更具抗风险性,受到一些宏观动态的影响较小,如并购环境显著放缓、更多依赖于杠杆以及交易竞争环境更加激烈等 [8][9] - 公司认为中低端中型市场提供了风险缓释,在当前利率环境和通胀压力下也表现出了持久的抗压能力 [9] 公司战略和发展方向及行业竞争 - 公司正在推进五大战略支柱:1)优化组织架构,2)通过客户关系和战略合作推动有机增长,3)实施严格的并购流程推动非有机增长,4)提高运营效率,5)加强与股东的沟通 [56][57] - 公司认为中低端中型市场的竞争环境相对较小,公司作为该领域的领导者,拥有明显的差异化优势 [8][9] 管理层对经营环境和未来前景的评论 - 公司认为中低端中型市场相对上端中型市场更具抗风险性,在当前利率环境和通胀压力下也表现出了持久的抗压能力 [8][9] - 公司对自身的增长前景和股价内在价值表示高度确信,内部人员持有大量公司股份,体现了与股东利益的高度一致性 [19] 问答环节重要的提问和回答 问题1 **Alex Bernstein 提问** 询问公司去除现金费用影响后的费率情况,以及未来费率的框架 [33][34] **Amanda Coussens 回答** 公司年度费率指引为105个基点,第二季度将出现部分到期的影响 [34] 问题2 **Benjamin Budish 提问** 询问公司全年筹资目标的实现情况,以及未来几个季度的筹资预期 [39][40][41][42] **Luke Sarsfield 回答** 公司有15只基金将在全年陆续进入市场,第一季度筹资势头良好,后续有多只大型基金即将完成最终关闭,对全年筹资目标充满信心 [40][41][42] 问题3 **Adam Beatty 提问** 询问公司未来费用增长的预期 [47][48][49][50] **Amanda Coussens 回答** 公司有信心在保持强劲财务表现的同时管控好费用,预计全年EBITDA率将维持在45%左右水平,未来会受到新业务线较低毛利率以及关键人才投资的影响 [49][50]