P10 Holdings to Acquire Five Points Capital

February 24, 2020

On January 21, 2020, P10 Holdings, Inc. announced that it had entered into a definitive agreement to acquire Five Points Capital, Inc.

Pursuant to the agreement, P10 Holdings, Inc. (“P10”) will acquire Five Points Capital, Inc. (“Five Points”). Five Points will receive cash and convertible preferred equity in a newly formed holding company that will own Five Points, as well as P10’s other subsidiaries RCP Advisors 2, LLC and RCP Advisors 3, LLC. The convertible preferred equity is expected to yield 1% in cash annually and has certain put and governance rights in the holding company. Five Points will continue to be managed by the same leadership team. The transaction is subject to approval from the Small Business Administration and the limited partners of the funds of Five Points. Closing is expected within the first six months of 2020.

Five Points is an alternative investment manager that focuses on providing both debt and equity to U.S. lower middle market growth-oriented companies and private equity funds. Raymond James Financial Services Inc. served as financial advisor to Five Points on the transaction.

P10 is a Dallas-based alternative asset manager. Its provides services through private equity funds-of-funds, secondary funds and co-investment funds through its two wholly-owned subsidiaries, RCP Advisors 2, LLC and RCP Advisors 3, LLC.

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Investment Manager M&A, Transactions