Ridgepost Capital (RPC) investor relations material

Business model and market positioning

• Focuses on providing multi-asset private market solutions, specializing in the middle and lower middle market across private equity, private credit, and venture capital, with over $30 billion in fee-paying AUM.

• Differentiates from large peers by offering access to opaque, less capitalized market segments, leveraging 20 years of proprietary data and analytics.

• Evolved from a collection of specialist boutiques to a unified solutions platform, emphasizing the power of the collective and shared services while preserving investment autonomy.

• Rebranding from P10 to Ridgepost Capital is being rolled out across all strategies to reinforce unified identity and client awareness.

Industry trends and client dynamics

• Institutional allocators are shifting from managing numerous niche relationships to seeking scaled, institutional partners with persistent alpha and stability.

• Current market volatility, software disruption, and private credit concerns have limited impact due to diversified products, closed-end vehicles, and niche exposures.

• About one-third of LPs are ultra-high-net-worth with institutional characteristics, supporting portfolio resilience.

• No significant allocation or liquidity issues observed; diversified product offerings allow for continued fundraising momentum.

Growth strategy and financial targets

• Near-term guidance targets $10 billion growth in fee-paying AUM over the next two years, with aspirations for $50 billion by the end of 2029.

• Upside potential driven by exceeding fund hard caps, new product launches, cross-selling, and expanding client relationships.

• Progress in cross-selling: nearly 15% of capital raised since Investor Day comes from clients investing in multiple strategies.

• Strategic M&A roadmap focuses on international analogs, middle market private credit, and real assets, with recent acquisitions aligning with this plan.