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Ridgepost Capital (RPC) investor relations material
Ridgepost Capital Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Rebranded as Ridgepost Capital, reflecting strategic transformation and integration across private equity, private credit, and venture capital, with a focus on the middle and lower middle market.
Achieved record full-year fundraising and deployment of $5.1B, surpassing guidance by over $1B, and expanded globally with the opening of a Dubai office and acquisition of Stellus Capital Management, a direct lending platform with $3.8B AUM.
Fee-paying AUM reached $29.4B at year-end 2025, up 15% year-over-year, with total AUM exceeding $43B.
GAAP net income for 2025 was $23M, up from $19.7M in 2024; Q4 net income was $11M, up from $5.7M.
Adjusted net income (ANI) for Q4 was $30.2M, down 14% year-over-year; full-year ANI was $108.9M, down 9%.
Financial highlights
Fee-related revenues (FRR), excluding catch-up fees, increased 13% for 2025; FRE margins at 47%.
Q4 2025 revenue was $81.0M, down from $85.0M year-over-year; full-year revenue was $297.3M, up slightly from $296.4M.
Fee-related earnings for Q4 were $39.0M (down from $42.7M); full-year was $141.1M (down from $142.1M).
Operating expenses for 2025 were $231.8M, down from $235.8M in 2024.
Fully diluted GAAP EPS for Q4 was $0.09, up 80% year-over-year; full-year EPS was $0.17, up 7%.
Outlook and guidance
Targeting $10B in gross organic fundraising and deployment over 2026–2027, excluding acquisitions.
FRE margins expected in the mid-40s% for 2026, with expansion toward 50% over the next few years.
Core fee rate anticipated to average 103 bps in 2026, lower in H1 and expanding in H2 due to seasonality.
Transaction to acquire Stellus Capital Management expected to close mid-2026, anticipated to be accretive to ANI per share and FRE margin.
Management highlighted continued execution of long-term strategy and expects to capture growing demand for alternatives in the wealth ecosystem.
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