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RCP Advisors raises more than $100m for second co-investment fund

10 Apr 2014

dollar envelope moneyPrivate equity firm RCP Advisors has hit the $100m mark for its second co-investment fund.

RCP Direct II has secured commitments of $106.3m from 75 LPs, which were asked to invest at least $1mn, according to a document filed with the US Securities and Exchange Commission.

The fund is targeting $200m with a hard cap of $250m, said RCP.

PTP Securities and Cato Capital are acting as placement agents for the vehicle, the filing showed.

RCP closed its first dedicated co-investment fund on $110m in 2011.

In February AltAssets reported that RCP had launched its ninth fund of funds with a $250m target.

RCP closed the previous vehicle, Fund VIII last August with $267.65m of commitments from 202 LPs, just above its $250m target.

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