RCP Advisors, a sponsor of private equity funds-of-funds, secondary funds, and co-investment funds focused on North American lower middle market buyouts, has held the final closing of RCPDirect IV (the Fund).
The Fund was oversubscribed, with approximately $645.4 million in aggregate commitments, exceeding its target of $500 million.
The Fund has a broad LP base of both new and existing investors, including endowments, foundations, public pension plans, family offices, and high-net-worth individuals.
RCPDirect IV will continue the same investment strategy employed by RCP’s previous co-investment funds and will generally partner with lead buyout fund managers who raise funds between $100 million and $1 billion in committed capital. The fund will make minority equity investments between $5 million and $30 million in lower middle market companies – typically, with $25 million to $500 million in enterprise value.