P10 Industries Inc. (PX)

[chemist72]

Thank you for the reminder on the 5-year lock-up!

Well, there it is in black and white. No worries about RCP shareholders selling for at least 5 years.

Btw, when I searched the annual report for the phrase "locked up", I found a few other items of interest, including the following:

In the case of Primary Funds-of-Funds and Secondary Funds, invested capital is committed ("locked up") for twelve years. In the case of the Direct Co-Investment Funds, invested capital is locked up for ten years, although it is typically fully deployed within the first five years, and then is returned to the investors as investments are liquidated. The investors in the funds benefit from the lock up because RCP can patiently allocate capital to what RCP believes are the best managers and investment opportunities.

Also this:

For 2018, we project the RCP business should generate an EBITDA margin in excess of 50% of revenues; and because our management fees are, for the most part, locked up by contract for up to a decade, we believe this profit stream will prove to be stable.