P10

To provide investors comprehensive access to private markets by becoming the premier global platform for alternative asset management.

P10 SWOT Analysis

Updated: October 6, 2025 • 2025-Q4 Analysis

How to Use This Analysis

This analysis for P10 was created using Alignment.io™ methodology - a proven strategic planning system trusted in over 75,000 strategic planning projects. We've designed it as a helpful companion for your team's strategic process, leveraging leading AI models to analyze publicly available data.

While this represents what AI sees from public data, you know your company's true reality. That's why we recommend using Alignment.io and The System of Alignment™ to conduct your strategic planning—using these AI-generated insights as inspiration and reference points to blend with your team's invaluable knowledge.

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The P10 SWOT Analysis reveals a well-positioned firm excelling through a disciplined M&A strategy and a diversified, durable earnings model. Its primary strengths lie in this proven acquisition playbook and the quality of its underlying managers. However, achieving true scale requires overcoming weaknesses in brand recognition and platform integration to fully unlock synergies. The largest opportunities are in expanding into the private wealth channel and international markets, which directly addresses the threat of a hyper-competitive domestic institutional landscape. The strategic imperative is clear: leverage the stable earnings base to aggressively pursue these new channels, transforming P10 from a successful consolidator into a globally recognized alternative asset management powerhouse. The focus must be on execution—integrating what's been bought while simultaneously expanding the fundraising footprint. This is the path to creating enduring enterprise value.

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No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide investors comprehensive access to private markets by becoming the premier global platform for alternative asset management.

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Strengths

DIVERSIFICATION: Multi-strategy platform reduces single-fund risk.
EARNINGS: High-quality, durable fee-related earnings stream is strong.
ACQUISITIONS: Proven M&A strategy drives inorganic AUM and revenue growth.
PERFORMANCE: Strong underlying manager track record attracts new LPs.
MANAGEMENT: Experienced leadership with significant insider ownership.

Weaknesses

INTEGRATION: Realizing cross-sell synergies across verticals is slow.
BRANDING: Limited brand awareness vs. mega-funds like Blackstone/KKR.
SCALE: Smaller AUM base provides less operating leverage than giants.
DEBT: Balance sheet leverage used for M&A adds financial risk.
DEPENDENCY: High reliance on fundraising cycles for future FRE growth.

Opportunities

WEALTH: Untapped high-net-worth/retail channel offers massive AUM growth.
INTERNATIONAL: Significant opportunity to expand fundraising outside North America.
CONSOLIDATION: LPs are reducing managers, favoring multi-strategy platforms.
DISLOCATION: Market volatility creates attractive private investment entries.
CREDIT: Growing demand for private credit solutions amid bank pullback.

Threats

COMPETITION: Intense rivalry for both quality assets and LP capital.
INTEREST RATES: Higher rates increase portfolio financing costs and slow exits.
FUNDRAISING: A crowded, difficult fundraising environment slows AUM growth.
REGULATION: Increased SEC scrutiny on private funds could raise costs.
RECESSION: Economic downturn could hurt portfolio valuations and returns.

Key Priorities

EXPANSION: Accelerate global and private wealth fundraising to diversify LPs.
PLATFORM: Deepen integration to unlock cross-selling and operational leverage.
PERFORMANCE: Double down on supporting managers to ensure top-quartile returns.
ACQUISITIONS: Continue disciplined M&A in high-growth, niche strategies.

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P10 OKR

Updated: October 6, 2025 • 2025-Q4 Analysis

The P10 OKR plan is a masterclass in strategic focus, translating broad ambitions into a concrete execution roadmap. It wisely balances external growth ('EXPAND HORIZONS') with crucial internal integration ('UNIFY PLATFORM'), recognizing that one cannot succeed without the other. The objectives are inspiring yet direct, providing clear guidance. The Key Results are exceptional—they are outcome-driven, measurable, and directly attack the highest-leverage opportunities and weaknesses identified in the SWOT analysis. This plan provides the clarity and alignment needed to rally the entire organization around the core drivers of value: expanding the capital base, making the platform more efficient, ensuring performance, and continuing the disciplined M&A that defines the P10 model. It's an actionable blueprint for market leadership.

StepStone Group Blue Owl Capital Blackstone KKR Hamilton Lane

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide investors comprehensive access to private markets by becoming the premier global platform for alternative asset management.

EXPAND HORIZONS

Dominate new fundraising channels and geographies.

WEALTH: Onboard 5 new strategic wealth management platforms, unlocking access to 10,000+ new advisors.
GLOBAL: Secure $500M in new capital commitments from LPs in Europe and Asia for upcoming fund vintages.
PRODUCT: Launch a new semi-liquid evergreen product tailored for the private wealth channel by end of year.
TEAM: Establish a dedicated fundraising presence in London or Singapore to deepen international LP relationships.

UNIFY PLATFORM

Forge a single, powerful, integrated operational engine.

CROSS-SELL: Generate $250M in new FPAUM from existing LPs investing in a second or third P10 strategy.
DATA: Implement a centralized data warehouse that consolidates portfolio data from all underlying managers.
SYNERGY: Achieve $5M in annualized cost savings through centralized procurement and shared back-office services.
REPORTING: Launch a unified LP portal providing investors with a comprehensive view of their entire P10 portfolio.

DRIVE ALPHA

Empower our managers to deliver top-decile returns.

PERFORMANCE: Ensure 80% of eligible funds are tracking toward top-quartile performance for their vintage year.
VALUE-ADD: Deploy a 5-person operational excellence team to support 10 portfolio companies on key projects.
NETWORK: Host a portfolio-wide summit to connect 100+ execs for best-practice sharing and collaboration.
EXITS: Develop and approve strategic exit plans for 15 portfolio companies to prepare for market openings.

TARGETED GROWTH

Execute disciplined acquisitions in strategic new areas.

PIPELINE: Identify and engage with 25 potential acquisition targets in the private credit and infrastructure sectors.
DILIGENCE: Complete deep operational and financial due diligence on 3 high-priority acquisition targets.
ACQUISITION: Successfully close one strategic acquisition that adds over $2B in FPAUM and a new capability.
INTEGRATION: Develop a 100-day integration plan for the next acquisition, vetted by the executive team.

METRICS

FPAUM Growth: 20% YoY
Fee-Related Earnings (FRE): $120M
New Capital Raised: $4B

VALUES

Partnership
Discipline
Excellence
Integrity
Innovation

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P10 Retrospective

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Claude

Gemini

GPT

P10, Inc. (PX) Q3 2023 Earnings Report and Investor Presentation
P10 Corporate Website (p10alts.com) and Executive Biographies
Public financial data from Yahoo Finance and Seeking Alpha
Industry reports on alternative asset management from Preqin and McKinsey
SEC Filings (10-K, 10-Q) for financial and operational details

StepStone Group Blue Owl Capital Blackstone KKR Hamilton Lane

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide investors comprehensive access to private markets by becoming the premier global platform for alternative asset management.

Toggle Theme

What Went Well

AUM: Continued strong growth in fee-paying assets under management.
EARNINGS: Resilient fee-related earnings despite market uncertainty.
FUNDRAISING: Several key funds successfully hit or exceeded targets.
ACQUISITIONS: Disciplined capital deployment in strategic M&A continues.
CREDIT: Private credit vertical showed strong performance and demand.

Not So Well

EXITS: Slower realization activity (IPOs, M&A) due to market conditions.
SENTIMENT: Broader market volatility impacted public stock performance (PX).
INTEGRATION: Cross-selling synergies remain a work-in-progress.
EXPENSES: Higher costs associated with being a public company and integration.
COMPETITION: Fundraising environment became significantly more challenging.

Learnings

DURABILITY: The FRE-focused business model is highly resilient in downturns.
DIVERSIFICATION: Having multiple verticals (PE, VC, credit) is a key strength.
MARKET: Public market valuation can disconnect from private asset stability.
LPs: Institutional LPs are slowing commitment pace, requiring more effort.
EFFICIENCY: Need to focus on operational efficiency to expand margins.

Action Items

WEALTH: Accelerate push into the private wealth channel for new capital.
OPERATIONS: Create a dedicated team to drive cross-platform synergies.
IR: Enhance investor relations messaging on FRE durability vs. market swings.
EXITS: Proactively prepare portfolio companies for when exit windows open.
TECHNOLOGY: Invest in a CRM and data analytics to improve fundraising.

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Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

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P10 Market

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Claude

Gemini

GPT

P10, Inc. (PX) Q3 2023 Earnings Report and Investor Presentation
P10 Corporate Website (p10alts.com) and Executive Biographies
Public financial data from Yahoo Finance and Seeking Alpha
Industry reports on alternative asset management from Preqin and McKinsey
SEC Filings (10-K, 10-Q) for financial and operational details

Founded: 2017
Market Share: Niche player in a fragmented multi-manager PE market (<1%).
Customer Base: Institutional investors, pension funds, endowments, family offices.
Category:
Asset Management
SIC Code: 6282 Investment Advice
NAICS Code: 523940 Portfolio Management and Investment Advice
Location: Dallas, Texas
Zip Code: 75201 Dallas, Texas
Congressional District: TX-30 DALLAS
Employees: 350

Competitors

StepStone Group Request Analysis

Blue Owl Capital View Analysis

Blackstone View Analysis

KKR View Analysis

Hamilton Lane View Analysis

Products & Services

No products or services data available

Distribution Channels

P10 Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

P10, Inc. (PX) Q3 2023 Earnings Report and Investor Presentation
P10 Corporate Website (p10alts.com) and Executive Biographies
Public financial data from Yahoo Finance and Seeking Alpha
Industry reports on alternative asset management from Preqin and McKinsey
SEC Filings (10-K, 10-Q) for financial and operational details

Problem

Limited access to niche PE/VC managers.
Investor need for asset diversification.
High minimums for private market funds.

Solution

A curated multi-manager investment platform.
Diversified exposure across strategies.
Lower-minimum products for wealth channel.

Key Metrics

Fee-Paying Assets Under Management (FPAUM).
Fee-Related Earnings (FRE).
Underlying Fund IRR and MOIC.

Unique

Focus on acquiring specialized managers.
Durable, long-term fee revenue streams.
Public listing provides permanent capital.

Advantage

Proprietary M&A pipeline and expertise.
Synergies from a centralized platform.
Established relationships with LPs.

Channels

Direct institutional sales force.
Investment consultant relationships.
Registered Investment Advisor (RIA) networks.

Customer Segments

Pension funds, endowments, foundations.
Family offices and high-net-worth individuals.
Insurance companies and sovereign wealth funds.

Costs

Salaries for investment & IR professionals.
M&A costs for acquiring new managers.
Compliance, legal, and public company costs.

P10 Product Market Fit Analysis

Updated: October 6, 2025

P10 provides investors with simplified, diversified access to premier, hard-to-reach private market strategies. The platform delivers durable growth and top-quartile performance by acquiring and empowering specialized managers in private equity, venture capital, and credit. This unique model offers a distinct advantage in building resilient, high-return alternative asset portfolios for institutional and private wealth clients seeking alpha.

Differentiated Access to top-tier, niche private market funds.

Durable Growth through a mix of organic and acquisitive strategies.

Diversified Exposure across PE, VC, and private credit strategies.

Before State

Fragmented, hard-to-access private funds
High minimums, limited diversification
Complex due diligence for single funds

After State

One-stop access to curated private assets
Diversified across multiple niche managers
Simplified access and reporting

Negative Impacts

Missed opportunities in top-tier niches
Concentration risk in a few managers
High operational burden for investors

Positive Outcomes

Enhanced returns from specialized markets
Reduced portfolio volatility via diversity
Efficient capital deployment for LPs

Key Metrics

Fundraising Rate

Met or exceeded targets for recent funds.

LP Re-up Rate

High, indicating strong satisfaction.

AUM Growth Rate

10% organic, 20%+ with acquisitions.

Customer Feedback/Reviews

Positive consultant reviews and LP sentiment.

Net Promoter Score (NPS)

Estimated 45-55 among institutional LPs.

Requirements

Robust manager sourcing and due diligence
Integrated platform for LPs and reporting
Strong fundraising and IR capabilities

Why P10

Acquire proven managers in key verticals
Centralize non-investment functions
Leverage cross-selling opportunities

P10 Competitive Advantage

Unique access to specialized managers
Permanent capital base from public listing
Synergistic multi-manager platform

Proof Points

Consistent top-quartile fund performance
Over $24B FPAUM from a global LP base
Successful M&A track record (e.g., RCP)

P10 Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

P10, Inc. (PX) Q3 2023 Earnings Report and Investor Presentation
P10 Corporate Website (p10alts.com) and Executive Biographies
Public financial data from Yahoo Finance and Seeking Alpha
Industry reports on alternative asset management from Preqin and McKinsey
SEC Filings (10-K, 10-Q) for financial and operational details

Strategic pillars derived from our vision-focused SWOT analysis

Drive inorganic growth via disciplined M&A of specialized managers.

Provide back-office synergies and cross-selling across verticals.

Expand global LP relationships and retail channel access.

Ensure underlying fund managers deliver top-quartile returns.

What You Do

Acquire and partner with specialized private market managers.

Target Market

Investors seeking diversified alternative asset exposure.

Differentiation

Focus on niche, hard-to-access middle-market strategies.
Durable fee-related earnings stream from long-lockup funds.

Revenue Streams

Management fees from FPAUM.
Carried interest from fund performance.

P10 Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

P10, Inc. (PX) Q3 2023 Earnings Report and Investor Presentation
P10 Corporate Website (p10alts.com) and Executive Biographies
Public financial data from Yahoo Finance and Seeking Alpha
Industry reports on alternative asset management from Preqin and McKinsey
SEC Filings (10-K, 10-Q) for financial and operational details

Company Operations

Organizational Structure: Holding company with distinct, vertically-integrated managers.
Supply Chain: Capital from Limited Partners (LPs) is the primary input.
Tech Patents: Primarily uses third-party software; no significant patents.
Website: https://p10alts.com/

Top Clients

Board Members

P10 Competitive Forces

Threat of New Entry

Low: High barriers to entry due to regulatory hurdles, the need for a multi-billion dollar track record, and deep LP relationships.

Supplier Power

Moderate: 'Suppliers' are high-performing managers P10 acquires. They have power, but P10 offers capital, scale, and succession.

Buyer Power

High: Large institutional LPs (pensions, endowments) have significant power to negotiate fees and terms due to large ticket sizes.

Threat of Substitution

Moderate: LPs can substitute with direct investments, other asset classes (public equity, real estate), or index-like PE products.

Competitive Rivalry

High: Intense competition from mega-funds, multi-managers, and single GPs for both deals and LP capital. Differentiation is key.

Analysis of AI Strategy

Updated: October 6, 2025 • 2025-Q4 Analysis

The P10 AI SWOT Analysis highlights a critical juncture. The company possesses a valuable, yet latent, asset in its proprietary, cross-vertical data. This is its core strength. However, this potential is completely unrealized due to significant weaknesses in talent, infrastructure, and a cohesive strategy. The opportunity is immense: AI can revolutionize every aspect of the private equity lifecycle, from deal sourcing to portfolio value creation and fundraising. The primary threat is not AI itself, but strategic inertia. Competitors are already building these capabilities, risking that P10 will be outmaneuvered. The conclusion is therefore urgent and foundational. P10 must prioritize building a unified data platform and hiring a core data science team. Without these foundational steps, any AI ambitions will remain purely academic, and a key long-term competitive advantage will be ceded to rivals.

StepStone Group Blue Owl Capital Blackstone KKR Hamilton Lane

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To provide investors comprehensive access to private markets by becoming the premier global platform for alternative asset management.

Strengths

DATA: Access to proprietary performance data from diverse managers.
DIVERSE: Cross-vertical data provides unique market insights.
NETWORK: Broad network of portfolio companies for AI pilot programs.
CASH FLOW: Stable fee-related earnings can fund strategic AI investments.
ACCESS: Relationships with VC managers provide early looks at AI tech.

Weaknesses

TALENT: Lack of in-house AI/ML engineering and data science expertise.
SILOS: Data is fragmented across different acquired manager systems.
INFRASTRUCTURE: No centralized data warehouse or analytics platform exists.
STRATEGY: No clear, articulated vision for AI adoption across P10.
SCALE: Insufficient data scale in any single niche to train robust models.

Opportunities

SOURCING: AI can identify potential investment targets and M&A opportunities.
DILIGENCE: AI can automate market analysis and risk assessment in due diligence.
OPERATIONS: AI can optimize portfolio company performance (e.g., pricing, supply chain).
FUNDRAISING: AI can identify and prioritize potential limited partners (LPs).
REPORTING: AI can automate and enhance the quality of LP reporting.

Threats

COMPETITION: Larger rivals (KKR, Blackstone) are investing heavily in AI.
DISRUPTION: AI-native investment firms could emerge with superior models.
SECURITY: Increased cybersecurity risks associated with centralized data.
RELIABILITY: Over-reliance on flawed AI models could lead to bad investments.
COST: High cost of talent and infrastructure for a meaningful AI buildout.

Key Priorities

PLATFORM: Build a unified data platform to consolidate fragmented information.
TALENT: Hire a foundational data science team to spearhead AI initiatives.
SOURCING: Pilot an AI-driven deal sourcing tool in one key vertical.
EFFICIENCY: Leverage AI to automate internal reporting and LP communications.

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P10 Financial Performance

AI-Powered Insights

Claude

Gemini

GPT

P10, Inc. (PX) Q3 2023 Earnings Report and Investor Presentation
P10 Corporate Website (p10alts.com) and Executive Biographies
Public financial data from Yahoo Finance and Seeking Alpha
Industry reports on alternative asset management from Preqin and McKinsey
SEC Filings (10-K, 10-Q) for financial and operational details

Profit: $52.8 million Net Income (TTM)

Market Cap: $1.2 Billion

Stock Performance

Annual Report: View Report

Debt: $430 million (Total Debt)

ROI Impact: Metrics like IRR and MOIC of underlying funds are key drivers.

SWOT Index

Composite strategic assessment with 10-year outlook

/ 100

Market Challenger

ICM Index

STRATEGIC ADVISOR ASSESSMENT

P10's score reflects a strong, defensible business model with a clear growth strategy (M&A). However, its North Star impact is category-focused, not society-shaping. The SWOT is balanced, showing significant opportunities matched by intense threats. OKRs are solid but lack true world-shaping asymmetry. The model is proven but faces high competition, capping its ultimate multiplier potential without a breakthrough in a new, uncontested market space. Its path is one of a strong challenger, not a frontier builder.

SWOT Factors

Upside: 69.3 Risk: 70.7

OKR Impact

AI Leverage

Top 3 Strategic Levers

Accelerate push into private wealth fundraising channels.

Unlock cross-selling synergies via deeper platform integration.

Build a foundational AI/data capability for deal sourcing.

AI Disclosure

This report was created using the Alignment Method—our proprietary process for guiding AI to reveal how it interprets your business and industry. These insights are for informational purposes only and do not constitute financial, legal, tax, or investment advice.

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