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DALLAS - P10, Inc. (NYSE: PX), a prominent provider of private market solutions, announced today that it has finalized the acquisition of Madrid-based Qualitas Equity Funds SGEIC, S.A. for $63 million, with the possibility of additional earnout payments. The transaction is aimed at bolstering P10’s presence in the European market, particularly in the lower-middle market segments.
Qualitas Funds, established in 2015, specializes in fund-of-funds, direct co-investments, and NAV financing, managing approximately $1 billion in fee-paying assets. The firm caters to a diverse clientele, including ultra-high-net-worth individuals, family offices, and institutional investors. P10’s impressive revenue growth of 22.63% over the last twelve months suggests strong execution capability for such strategic acquisitions. InvestingPro’s Fair Value analysis indicates that P10’s stock is currently undervalued, presenting a potential opportunity for investors.
Luke Sarsfield, P10’s Chairman and CEO, expressed enthusiasm about the acquisition, stating that it significantly expands P10’s global presence and is expected to enhance the company’s platform with complementary strengths. He emphasized the importance of integrating client-centric cultures to access investment opportunities for their global client base.
Eric Halverson and Sergio Garcia, co-founders and co-managing partners of Qualitas Funds, also expressed their positive outlook on joining P10, anticipating that the company’s expertise in private markets will accelerate their growth and enable the launch of new strategies for their clients.
P10, with a mission to offer investors differentiated access to a broad set of investment solutions within private markets, has a substantial global investor base that includes some of the world’s largest pension funds, endowments, foundations, and financial institutions.
The acquisition is part of P10’s strategic expansion and is expected to contribute to the company’s growth by providing additional exposure to the European market. This move aligns with P10’s objectives to enhance its product offerings and reach a wider audience.
The information provided is based on a press release statement from P10, Inc. It’s important to note that forward-looking statements in the press release reflect management’s expectations and are subject to risks and uncertainties that could cause actual results to differ materially. For comprehensive analysis and additional insights, investors can access detailed financial metrics, 12+ ProTips, and a complete research report through InvestingPro, which provides in-depth coverage of P10 and 1,400+ other US stocks.
In other recent news, P10 Inc. reported updates to executive compensation agreements, affecting its Chief Financial Officer Amanda Coussens and Chief Administrative Officer Mark Hood. The revised agreements, effective April 2025, maintain their base salaries but alter bonus and equity award structures, with annual bonuses now entirely cash-based. Additionally, Andrew Corsi has been appointed as the new Chief Accounting Officer, effective January 2025, succeeding Amanda Coussens, who remains the Chief Financial Officer. Corsi, previously Corporate Controller at P10, brings experience from Goldman, Sachs & Co. and Ernst & Young.
In analyst-related developments, JPMorgan upgraded P10’s stock rating from Neutral to Overweight, citing the company’s niche focus on lower and lower-middle markets. JPMorgan analysts highlighted P10’s proactive growth strategy, including strategic mergers and acquisitions, as a reason for the upgrade. They noted P10’s recent acquisition of WTI and expansion into venture debt as part of its efforts to diversify investment capabilities. The analysts emphasized P10’s revenue model based on management and advisory fees, suggesting it offers financial stability with limited exposure to market volatility.
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