Ridgepost Capital (RPC) Investor Day 2024 summary

Strategic vision and growth outlook

• Aims to be a category leader in specialty, niche, and fragmented alternatives, focusing on the middle and lower middle markets, leveraging a robust platform and differentiated investment strategies across private equity, private credit, and venture capital.

• Since the 2021 IPO, fee-paying AUM has grown from $14.2B to $23.8B at a 19% CAGR, with total revenue and adjusted EBITDA nearly doubling; plans to more than double fee-paying AUM to over $50B by 2029, primarily through organic growth, complemented by disciplined M&A.

• Five strategic initiatives for 2024 include optimizing leadership, accelerating organic and inorganic growth, enhancing operational infrastructure, and improving transparency and shareholder dialogue.

• Raised over $1.5B in FPAUM in 1H24, achieving 61% of the $2.5B gross target for 2024.

• Recent acquisition of Qualitas Funds marks entry into Europe, expanding distribution through private banks and wealth management platforms, and aligning with the core lower mid-market strategy; expected to be accretive to earnings in 2025.

Investment strategies and performance

• Private equity strategies (RCP Advisors and Bonaccord) focus on small and middle-market buyouts and GP stakes, leveraging proprietary data and a complementary ecosystem for superior returns and client alignment.

• Private credit solutions span project finance, NAV lending, venture debt, small business lending, and mezzanine finance, all targeting less competitive, specialized market segments with strong track records and growth tailwinds.

• Venture capital strategy (TrueBridge) invests in top-tier VC funds and high-growth tech companies, leveraging unique data partnerships and deep industry relationships to access and select top managers.

• Historical net IRRs: Private Equity 26.0%, Private Credit 15.4%-16.1%, Venture Capital flagship funds 20.4%.

• Across all strategies, performance consistently meets or exceeds targets, with 18 of 23 commingled funds at or above return goals, and high LP re-up rates (~80-85%).

Data, technology, and shared services

• GP Scout, a proprietary data and analytics platform, provides a significant information advantage, supporting investment decisions, benchmarking, and marketing, and is leveraged across the platform.

• Shared services model delivers scalable financial, operational, legal, compliance, and technology support to all affiliates, enabling rapid integration and operational efficiency for both organic and inorganic growth.

• Recent investments in technology (e.g., Workday, AI-driven data ingestion) and enhanced governance have strengthened infrastructure and culture.