Well, at this point it's clear that PIOE gets to show RCP's mgmt fee income as their revenue. They don't get the carry interest or get to show the RCP %ownership of the RCP Funds on their (PIOE's) balance sheet.
But now, down the road, PIOE mgmt was saying that they'll be investing in some of the RCP Funds. That's where it will get more interesting and if PIOE invests in the co-invest and/or buyout RCP Funds, then these kind of news announcements such as the one i posted this a.m. may be more directly relevant to PIOE.
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