RCP Advisors Closes Secondary Opportunity Fund V on $1.26 Billion, Exceeding Target Size

RCP Advisors has closed its Secondary Opportunity Fund V on $1.26 billion, exceeding its initial target of $1 billion. The fund will target investments in private equity funds primarily through secondary market purchases or other secondary transactions in leveraged buyout, growth, or restructuring transactions. RCP Advisors is a subsidiary of P10, a private markets solutions provider with over $40 billion in assets under management.

RCP Advisors, a subsidiary of P10, Inc., has successfully closed its Secondary Opportunity Fund V, raising $1.26 billion in capital commitments, surpassing its initial target of $1 billion. The fund, which focuses on secondary market purchases of private equity funds specializing in leveraged buyouts, growth investments, and restructuring transactions, attracted a diverse group of investors including high net worth individuals, pension funds, endowments, foundations, and insurance companies.

The oversubscription of $1.26 billion, a 26% increase over the initial target, underscores robust investor confidence in RCP Advisors' investment strategy and the growing demand for North American small buyout funds. The fund's co-portfolio managers, Jon Madorsky and Raj Patel, attributed the rapid capital raise to their strong prior performance, differentiated focus, and attractive secondary buying opportunities.

RCP Advisors, with 58 funds, over 550 partnership investments, and more than 2,700 global limited partners as of June 30, 2025, is one of the largest fund sponsors focused on the North American small buyout space. The successful fundraising represents a significant milestone for P10 shareholders, who will benefit from the fee-generating AUM growth and long-term management fee revenue streams.

RCP SOF V will maintain continuity with its predecessor funds' investment approach, focusing on secondary market purchases or other secondary transactions in private equity funds that generally focus on leveraged buyouts, growth, or restructuring transactions. The fund aims to deliver strong risk-adjusted returns and contribute to the growth of the lower middle market private equity segment.

The successful closing of RCP Secondary Opportunity Fund V is a testament to RCP Advisors' commitment to the small buyout fund space and its ability to attract and retain investors in a competitive private equity landscape.