Ridgepost Capital Raises Fee-Paying AUM 21% to $35.2 Billion

The Tip Desk · November 11, 2026 · 3 min read

Fee-Related Revenue reached $88.9 million in the third quarter, up 17% from a year earlier, as the firm raised and deployed $1.3 billion of fee-paying assets.

Ridgepost Capital, Inc. (RPC), a private markets solutions provider, reported fee-paying assets under management of $35.2 billion at the end of the third quarter ended September 30, 2026, a 21% increase from a year earlier.

The private-markets firm raised and deployed $1.3 billion of fee-paying AUM in the quarter, split across Private Equity Solutions at $450 million, Private Credit Solutions at $385 million, and Venture Capital Solutions at $475 million. Chairman and Chief Executive Officer Luke Sarsfield said that brought year-to-date fundraising and deployment to a record of nearly $4.5 billion. Average FPAUM for the quarter was $34.7 billion, versus $29.0 billion a year earlier.

Fee-Related Revenue was $88.9 million, up 17% from the year-ago quarter. Fee-Related Earnings were $43.0 million, up 19%, with a 48% FRE margin. Adjusted Net Income was $32.3 million, up 13%, and Fully Diluted ANI per share was $0.25, compared with $0.24 in the third quarter of 2025. Sarsfield said margins through the first nine months of 2026 were stable year-over-year.

The company said cross-selling has contributed approximately $1.7 billion to firmwide fundraising since June 2024. Total assets under management stood at more than $50 billion as of September 30, 2026. Private Equity Solutions had $25 billion of AUM and $18.4 billion of FPAUM; Private Credit Solutions had $11 billion of AUM and $8.1 billion of FPAUM; Venture Capital Solutions had $17 billion of AUM and $8.7 billion of FPAUM. Average fee rates on a core basis were 36 basis points for Private Equity Solutions, 23 basis points for Private Credit Solutions, and 10 basis points for Venture Capital Solutions.

In the third quarter the company repurchased 1,781,252 shares at a weighted average price of $8.36, totaling about $15 million. On November 3, 2026, the board approved a $30 million increase in the share-repurchase authorization, leaving about $30 million available. The board declared a cash dividend of $0.04 a share of Class A and Class B common stock, payable December 18, 2026, to holders of record on November 30, 2026. Fully diluted shares outstanding averaged approximately 129.2 million in the third quarter.

The firm made a net paydown of $10 million on the revolver and $4 million on the term loan in the quarter, and an additional $10 million revolver paydown after quarter-end. As of November 4, after that additional paydown, outstanding debt was $470 million, comprising $309 million on the term loan and $161 million on the revolver, with $34 million available on credit facilities. Cash and cash equivalents were about $32 million at quarter-end.

Sarsfield said the operating environment remains fluid and pointed to the contractual nature of the fee model, the complementary platform, and differentiated investment performance as drivers of consistency. Fee-Related Revenue represented 99% of revenue on a last-twelve-months basis through the third quarter of 2026.