Bonaccord Capital Partners Acquires Minority Interest in Lead Edge Capital
April 24 2024 - 4:31PM
P10, Inc. (NYSE: PX), a leading private markets solutions
provider, today announced that its affiliated manager, Bonaccord
Capital Partners (“Bonaccord”), a private equity business focused
on providing growth capital to exceptional mid-market private
markets sponsors, has acquired a passive minority equity interest
in Lead Edge Capital (“Lead Edge”), a growth equity firm focused on
investing in market-leading software, internet, consumer, and
tech-enabled businesses globally.
“On behalf of P10, we applaud Bonaccord on its
investment in Lead Edge Capital,” said Luke Sarsfield, P10 Chief
Executive Officer. “This transaction is reflective of Bonaccord’s
position as a partner of choice for leading middle market and lower
middle market private markets firms looking for a long-term
strategic capital partner. We are thrilled to see them continue to
grow their portfolio of high-quality investments and to be able to
bring access to such differentiated, compelling investments to our
clients.”
Bonaccord’s investment and strategic development
platform will support Lead Edge’s value creation initiatives and
further growth. There will be no change to Lead Edge’s investment
process, day-to-day management, or firm operations.
“Lead Edge Capital’s ability to leverage its
strategic investor base and drive tangible, value-added growth
across its portfolio is unique and exceptional,” said Ajay
Chitkara, Managing Partner of Bonaccord. “Over the last several
years, we have built a strong relationship with Lead Edge, and we
are thrilled to partner with them as they continue to build and
strategically scale their firm to deliver compelling returns for
their investors.”
Evercore served as financial adviser to Lead Edge
Capital. Kirkland & Ellis LLP and Goodwin Procter LLP acted as
legal counsel to Lead Edge Capital and Fried, Frank, Harris,
Shriver & Jacobson LLP advised Bonaccord.
About P10P10 is a leading
multi-asset class private markets solutions provider in the
alternative asset management industry. P10’s mission is to provide
its investors differentiated access to a broad set of investment
solutions that address their diverse investment needs within
private markets. As of December 31, 2023, P10 has a global
investor base of more than 3,600 investors across 50 states, 60
countries, and six continents, which includes some of the world’s
largest pension funds, endowments, foundations, corporate pensions,
and financial institutions. Visit www.p10alts.com.
About Bonaccord Capital
PartnersBonaccord Capital Partners ("BCP") is a private
equity business focused on providing growth capital to exceptional
mid-market private markets sponsors spanning private equity,
private credit, and real estate and real assets. By leveraging its
strategic relationships, institutional capabilities, and strategic
development expertise, BCP seeks to support transformative
initiatives that help its partner sponsors reach their potential
and establish enduring institutions. BCP aims to support broader
portfolio objectives through partnerships with its partner
sponsors. BCP is a part of P10, Inc. (NYSE: PX), a leading
multi-asset class private markets solutions provider in the
alternative asset management industry. For more information, please
visit www.bonaccordcapital.com.
About Lead Edge CapitalLead Edge
Capital is a $5 billion growth equity firm investing in software,
internet, and tech-enabled businesses globally. The firm has
invested in a number of major software and internet companies
around the world, including Alibaba Group, Arrive Logistics, Asana,
Azul Systems, Bazaarvoice, Benchling, Clearscore, Duo Security,
Grafana, GrowthZone, Holistiplan, LeanStaffing, LiveView
Technologies, Pacemate, Safesend, Signal Sciences, Tempo, Toast,
Wise, and YouSign. Lead Edge has invested in more than 100
companies worldwide and has seen over 60 portfolio companies
achieve an exit. One of the main drivers of Lead Edge’s success is
its unique investor base, a network of 700+ executives,
entrepreneurs, and dealmakers who have built and run some of the
world’s most successful companies. In addition to providing
flexible capital, Lead Edge leverages this global network to
connect portfolio companies with the customers, partners, talent,
and advisors needed to accelerate growth. Lead Edge Capital was
founded in 2009 and has offices in New York City and Santa
Barbara.
Ownership LimitationsP10’s
Certificate of Incorporation contains certain provisions for the
protection of tax benefits relating to P10’s net operating losses.
Such provisions generally void transfers of shares that would
result in the creation of a new 4.99% shareholder or result in an
existing 4.99% shareholder acquiring additional shares of P10.
P10 Investor
Contact:info@p10alts.com
P10 Media Contact:Josh
Clarksonjclarkson@prosek.com
P10 (NYSE:PX)
Historical Stock Chart
From Apr 2024 to May 2024
P10 (NYSE:PX)
Historical Stock Chart
From May 2023 to May 2024