Ridgepost Capital (RPC) investor relations material

Executive summary

• Achieved over $50 billion in assets under management (AUM) as of June 30, 2026, with fee-paying AUM reaching $34.3 billion, up 19% year-over-year, driven by robust fundraising and the Stellus acquisition.

• Revenue for Q2 2026 was $80.9 million, up 11% year-over-year, with GAAP net income more than doubling to $8.5 million.

• Adjusted net income per share rose to $0.24, up from $0.23 in Q2 2025.

• Completed the Stellus acquisition, expanding private credit capabilities and origination opportunities.

• Maintained strong fundraising activity and celebrated RCP's 25th anniversary, highlighting a differentiated franchise and long-term track record.

Financial highlights

• Fee-related earnings (FRE) totaled $39 million, up 10% year-over-year, with a margin of 48%.

• Fee-related revenue reached $81 million, up 11% year-over-year; management and advisory fees made up $80 million.

• GAAP net income margin for Q2 2026 was approximately 10.5%.

• Operating expenses increased 15% year-over-year, mainly due to higher compensation and integration costs.

• Cash and cash equivalents at quarter end were approximately $37.8 million.

Outlook and guidance

• Management expects continued FPAUM growth through new fundraising and specialized vehicle launches, with a durable, recurring revenue model and a weighted-average remaining duration of 7 years on fee-paying capital.

• Full-year 2026 core fee rate expected at 103 basis points; direct/secondary catch-up fees projected at $6–8 million.

• FRE margin for 2026 projected in the mid-40s; cash tax rate expected in high single to low double digits for 2026.

• On track for $10 billion fundraising and deployment target for 2026–2027.

• No material impact expected from recent U.S. tax legislation (OBBBA) on the 2026 effective tax rate.