M&A Deal Summary

P10 Acquires Enhanced Capital

On December 15, 2020, P10 acquired financial services company Enhanced Capital from Vulcan Capital and Stone Point Capital

Acquisition Highlights
  • This is P10’s 1st transaction in the Financial Services sector.
  • This is P10’s 1st transaction in the United States.
  • This is P10’s 1st transaction in New York.

M&A Deal Summary

Date 2020-12-15
Target Enhanced Capital
Sector Financial Services
Buyer(s) P10
Sellers(s) Vulcan Capital
Stone Point Capital
Deal Type Add-on Acquisition

Target

Enhanced Capital

New York, New York, United States
Enhanced Capital is a diversified national asset management firm that provides investment capital to small businesses that are underserved by traditional sources of financing. Enhanced Capital was founded in 1999 and is based in New York, New York.

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Buyer(S) 1

Buyer

P10

Dallas, Texas, United States

Category Company
Founded 1992
Sector Financial Services
Employees267
Revenue 296M USD (2024)
DESCRIPTION

P10 operates as a multi-asset class private market solutions provider in the alternative asset management industry in the United States. P10 was founded in 1992 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New York M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1

Seller(S) 2

SELLER

Vulcan Capital

Seattle, Washington, United States

Investor


Category Family Office
Founded 1986
Size Mega
Type Sector Agnostic
DESCRIPTION

Vulcan Capital is the private investment group of Vulcan Inc., the organization founded by Paul G. Allen to manage his personal and professional endeavors. Vulcan Capital looks to invest at all company stages and will consider opportunities across an array of industries. Sectors of interest include business services, consumer products, distribution and logistics, energy and natural resources, financial services and insurance, healthcare, manufacturing, media, technology, and telecom. The Firm's target investment size is $10 to $100 million. In addition to direct investing, Vulcan Capital also makes fund investments as well as invests in public securities. Vulcan Inc. was formed in 1986 and has offices in Seattle, Washington and Palo Alto, California.


DEAL STATS #
Overall 30 of 30
Sector: Financial Services M&A 3 of 3
Type: Add-on Acquisition M&A Deals 15 of 15
State: New York M&A 4 of 4
Country: United States M&A 28 of 28
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-02 Neon

Sao Paulo , Brazil

Neon is a Brazilian neo-bank. Neon launched with a simple digital account and has since expanded its product suite to include investment products, credit cards, and personal loans, among other new offerings and features. Neon was founded in 2016 and is based in Sao Paulo, Brazil.

Buy -
SELLER

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $75 and $750 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 47 of 59
Sector: Financial Services M&A 18 of 21
Type: Add-on Acquisition M&A Deals 23 of 30
State: New York M&A 9 of 11
Country: United States M&A 41 of 53
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-23 Lone Wolf

Dallas, Texas, United States

Lone Wolf is a SaaS provider of back- and front-office solutions for residential real estate brokers and agents in North America. Lone Wolf offers software solutions used by more than 1.5 million agents, 9,000 brokerages, and hundreds of multiple listing services and associations throughout North America. Lone Wolf was founded in 1989 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 BridgePoint Risk Management

Greenwich, Connecticut, United States

BridgePoint Risk Management is a provider of personal and commercial risk management solutions. BridgePoint Risk Management is based in Greenwich, Connecticut.

Sell -