RCP Announces 2024 Manager of the Year
Parthenon Capital Partners, a growth-oriented private equity firm, is named RCP Advisors’ 2024 Manager of the Year
Parthenon Capital Partners seeks growth opportunities in three core sectors: financial services, healthcare solutions, and business/tech services, favoring dynamic subsectors, consolidation opportunities, corporate carve-outs, or other opportunities with complexity and/or potential to accelerate growth. Parthenon has significant resources to build-out company infrastructure, automation, go-to-market, and product/tech development. Their investment theses often involve information or knowledge-based businesses, first mover advantages, regulatory complexity, and/or product/tech capabilities to displace incumbents.
Parthenon’s strategy and execution has resulted in excellent results over the years. 2024 was a banner year and nothing demonstrated the power of their approach better than the recapitalization of Zelis. Since Parthenon’s initial investment in 2015, Zelis has expanded the scope and quality of its services significantly and has grown its revenue more than 30x. Other major liquidity events in 2024 include the sale of Institutional Cash Distributors and the recapitalization of eTix.
Today, Parthenon is widely recognized as one of the private equity industry’s top managers. RCP is proud to be an early and significant backer of the current team for the past 15 years. Parthenon has been a significant partner across all of RCP‘s lines of business: primary funds, secondaries, co-investments, and separate accounts. In our view, they embody the highest level of investment acumen and a partnership driven approach. While this award is for 2024, Parthenon Capital resides in the “lifetime achievement” pantheon of RCP’s GP partners.
About Parthenon Capital Partners
Parthenon Capital Partners is a leading growth-oriented private equity firm with offices in Boston, San Francisco, and Austin. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in healthcare, financial and insurance services, and technology services, but seeks any service, technology, or delivery business with a strong value proposition and proprietary know-how. For more information, visit www.parthenoncapital.com.
About RCP Advisors
Founded in 2001, RCP Advisors, a subsidiary of P10, Inc. (NYSE: PX), is a private equity investment firm that provides access to North American small buyout fund managers through primary funds, secondary funds, and co-investment funds, as well as customized solutions and research services. RCP believes it is one of the largest fund sponsors focused on this niche, with over $15 billion in committed capital* and 56 full-time professionals as of December 31, 2024.
Past performance is not a guarantee of future results. There can be no assurance that a fund will achieve comparable results as any prior investments or prior investment funds of RCP. Source: RCP Advisors. *“Committed capital” primarily reflects the capital commitments associated with our SMAs, focused commingled funds and advisory accounts advised by RCP since the firm’s inception in 2001 (including fund s that have since been sold, dissolved, or wound down). We include capital commitments in our calculation of committed capital if (a) we have full discretion over the investment decisions in an account or have responsibility or custody of assets or (b) we do not have full discretion to make investment decisions but play a role in advising the client on asset allocation, performing investment manager due diligence and recommending investments for the client’s portfolio and/or monitoring and reporting on their investments. For our discretionary SMAs and commingled funds, as well as for our non-discretionary advisory accounts for which RCP is responsible for advising on all investments within the client’s portfolio, committed capital is calculated based on aggregate capital commitments to such accounts. For non-discretionary accounts where RCP is responsible for advising only a portion of the client portfolio investments, committed capital is calculated as capital commitments by the client to those underlying investments which were made based on RCP’s recommendation or with respect to which RCP advises the client. Committed capital does not include (i) non-discretionary advisory accounts no longer under advisement by RCP, (ii) assets managed or advised by the Private Capital Unit or HB Units of RCP Advisors 2, LLC, (iii) capital commitments to funds managed or sponsored by RCP’s affiliated management companies (including, without limitation, Five Points Capital), and (iv) RCP’s ancillary products or services.