PX News & Events

P10 announced it has entered into a definitive agreement to acquire Stellus Capital Management, a U.S. direct lender specializing in senior secured loans in the lower-middle market, for an initial purchase price of $250M. Stellus will continue to be managed by its current partners who will retain control of its day-to-day operations, including investment decisions and investment committee processes. "This acquisition is a continuation of P10's long-term strategy to partner with leading specialized investment managers operating in the middle and lower-middle market and adds a best-in-class direct lending franchise to our platform," said Luke Sarsfield, P10 Chairman and Chief Executive Officer. "Stellus Managing Partner Robert Ladd and his team have built a firm with a strong history of growth, proven track record of vehicle launches and robust credit and investment performance across economic cycles. Further, Stellus' sponsor borrower base is a natural fit within P10's middle and lower-middle market GP sponsor ecosystem, creating the potential for new opportunities across the firm. With our shared philosophy of investment excellence, client outcomes, and long-term value creation, we look forward to Stellus joining our leading alternatives platform."

P10 and Bonaccord Capital Partners announced a new collaboration with CAIS. Bonaccord is a private equity firm focused on providing growth capital and strategic support to middle-market private markets sponsors, and this collaboration with CAIS provides advisors with expanded access to GP stakes solutions. Bonaccord will join the CAIS platform, which serves over 2,000 wealth management firms and 62,000 financial advisors. The collaboration comes amid surging demand for alternative investments among financial advisors - a recent CAIS-Mercer survey revealed that nine in 10 financial advisors are currently allocating to alternatives, and 88% of advisors plan to increase their allocations to alternatives over the next two years.