P10, Inc. (NYSE: PX) (“P10” or the “Company”), a leading private
markets solutions provider, today announced the appointment of Luke
Sarsfield as the Company’s new Chief Executive Officer, effective
immediately. Mr. Sarsfield was also appointed a member of the P10
Board of Directors. P10’s Co-Founders Robert Alpert and Clark Webb,
will continue as members of the P10 Board and have been elected
Executive Chairman and Executive Vice Chairman, respectively. In
his new role, Mr. Alpert will support Mr. Sarsfield in corporate
matters. Mr. Webb will direct his attention toward strategic
opportunities and assist Mr. Sarsfield in potential corporate
transactions.
Mr. Sarsfield is the former Global Co-Head of Goldman Sachs
Asset Management, which managed approximately $2.5 trillion in
assets under his leadership. Prior to leading the asset management
business, Mr. Sarsfield was Global Head of the Financial
Institutions Group in the Investment Banking Division at the firm.
With 25 years of experience in finance and capital markets,
including building asset management businesses and advising
financial institutions on strategic transactions, the Company
believes that Mr. Sarsfield is uniquely positioned to advance P10’s
strategic priorities.
“We have built a best-in-class investment platform tailored to
the needs of our clients and have exceeded every goal we set for
ourselves since establishing the firm in 2017,” said Robert Alpert,
Co-Founder and Executive Chairman. “With the Company in a position
of strength, alongside a continued outlook for durable growth, we
feel now is the perfect time to transition leadership of the
Company. After a comprehensive search, we are confident that Luke
is the best possible candidate to become CEO. He joins P10 at the
most opportune time as we are seeing strong momentum in terms of
investment performance, fundraising, and our overall growth. I
believe Luke will do an outstanding job leading P10 in its next
chapter, expanding our opportunity set and strengthening our
leadership position in the alternative asset management
sector.”
Clark Webb, Co-Founder and Executive Vice Chairman added, “The
P10 story is one of establishing partnerships with market leaders
who have built extraordinary, long term track records. With the
addition of Luke, we continue that trend.” Webb continued, “Upon
our IPO in late 2021, we laid out ambitious fundraising and
financial targets and we have solidly surpassed those targets. As
we prepare our next set of corporate goals, we believe passing the
baton to Luke provides P10 with the ideal leader to champion our
next phase of growth.”
“P10 has achieved incredible success under the leadership of
Robert and Clark, and thanks to the talented team they have
assembled, the Company is poised for continued organic and
inorganic growth,” said Luke Sarsfield. “We instantly identified
complementary visions and values in my discussions with the Board,
and I am excited to get to work. P10 is comprised of world-class
investment strategies and professionals who are focused on
delivering outstanding, differentiated results for clients. We will
continue to provide access to attractive markets and return streams
that our clients may not be able to otherwise incorporate into
their portfolios. I am privileged to join this team, apply my
experience, and deliver long-term value for clients, shareholders,
employees, and our stakeholders.”
About Luke SarsfieldLuke Sarsfield is the Chief
Executive Officer and a member of the Board of Directors at P10.
Prior to joining P10, Mr. Sarsfield worked at Goldman Sachs for
over 23 years, where he held numerous senior leadership roles in
asset management, including: Global Co-Head of Goldman Sachs Asset
Management, Chief Commercial Officer of Asset and Wealth
Management, and Global Co-Head of the Client Business within
Goldman Sachs Asset Management. Previously, Mr. Sarsfield was a
senior leader in Goldman Sachs’ Investment Banking Division, where
he served as Global Head of the Financial Institutions Group,
Global Chief Operating Officer of Investment Banking, and Co-Head
of the Healthcare Group in the Americas. Additionally, he served as
a member of the firm’s Management Committee and Partnership
Committee. Mr. Sarsfield currently serves as Vice President of the
Board of Trustees of the Montclair Kimberley Academy and Treasurer
of the Board of Safe Horizon, the largest victim services agency in
the United States. Mr. Sarsfield earned an MBA from Harvard
Business School and a BA, magna cum laude, from Harvard
College.
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 June 30, 2023, P10 has a global investor base of more than 3,400
investors across 50 states, 55 countries, and six continents, which
includes some of the world’s largest pension funds, endowments,
foundations, corporate pensions, and financial institutions. For
more information, please visit the P10 website at
www.p10alts.com.
Forward-Looking StatementsSome of the
statements in this release may constitute “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934 and the
Private Securities Litigation Reform Act of 1995. Words such as
“will,” “expect,” “believe,” “estimate,” “continue,” “anticipate,”
“intend,” “plan” and similar expressions are intended to identify
these forward-looking statements. Forward-looking statements
discuss management’s current expectations and projections relating
to our financial position, results of operations, plans,
objectives, future performance, and business. The inclusion of any
forward-looking information in this release should not be regarded
as a representation that the future plans, estimates, or
expectations contemplated will be achieved. Forward-looking
statements are subject to various risks, uncertainties, and
assumptions. Forward-looking statements reflect management’s
current plans, estimates, and expectations, and are inherently
uncertain. All forward-looking statements are subject to known and
unknown risks, uncertainties, and other important factors that may
cause actual results to be materially different, including risks
relating to: global and domestic market and business conditions;
successful execution of business and growth strategies and
regulatory factors relevant to our business; changes in our tax
status; our ability to maintain our fee structure; our ability to
attract and retain key employees; our ability to manage our
obligations under our debt agreements; as well as assumptions
relating to our operations, financial results, financial condition,
business prospects, growth strategy; and our ability to manage the
effects of events outside of our control. The foregoing list of
factors is not exhaustive. For more information regarding these
risks and uncertainties as well as additional risks that we face,
you should refer to the “Risk Factors” included in our annual
report on Form 10-K for the year ended December 31, 2022, filed
with the U.S. Securities and Exchange Commission (“SEC”) on March
27, 2023, and in our subsequent reports filed from time to time
with the SEC. The forward-looking statements included in this
release are made only as of the date hereof. We undertake no
obligation to update or revise any forward-looking statement as a
result of new information or future events, except as otherwise
required by law.
P10 Investor Contact:Mark
Hoodmhood@p10alts.com
P10 Media Contact:Josh
Clarksonjclarkson@prosek.com
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