EarningsQ2 2026 Earnings Report
DE:AC3 Q2 2026 EPS Results
Actual EPS€0.21
Consensus EPS€0.20
Beat/MissBeat by +€0.01
One Year Ago EPS€0.21
DE:AC3 Q2 2026 Revenue Results
Actual Revenue€72.22M
Expected Revenue€72.11M
Beat/MissBeat by +€101.75K
YoY Revenue Growth+11.29%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeBefore Open
Conference CallWednesday, August 5, 2026
DE:AC3 Upcoming Earnings
Ridgepost Capital's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:AC3 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominately positive operational and financial picture: strong AUM growth (+25% YoY total AUM; +19% fee-paying AUM YoY), solid investment performance (double-digit net IRRs across strategies), healthy fundraising and deployment momentum (H1 2026 >$3B; trailing four-quarter ~$5B), durable fee mix and FRE growth (+10% FRE; +11% fee revenue), and tangible productivity gains from AI initiatives. Near-term headwinds are manageable and largely transaction-related: higher leverage and borrowing costs from the Stellus acquisition (pro forma ~2.8x), share dilution from deal consideration (~11.8M issued), modest near-term revenue recognition timing for Stellus (deployed-fee model), anticipated fundraising costs and hires tempering full-year FRE margin to the mid-40s, and an expected rise in cash taxes in 2027. Overall, the positives — recurring, fee-driven revenue growth, strong fund performance, robust fundraising, and efficiency gains — outweigh the near-term integration, leverage, and dilution challenges.Company Guidance
AUM Milestone and Strong Fee-Paying AUM Growth
Total AUM surpassed $50 billion at period end, up more than $10 billion or ~25% year-over-year. Fee-paying AUM totaled nearly $35 billion, up 19% year-over-year, with fee-paying AUM CAGR through Q2 2026 at 20% (above the implied 15% CAGR needed to reach the firm's 2029 $50 billion fee-paying AUM target).
Robust Investment Performance Across Strategies
Net IRRs for funds older than 5 years: private equity primary averaged 14.1%, secondary and co-invest averaged 23.1%, GP stakes (Bonaccord) averaged 18.9%, TrueBridge flagship venture averaged 18.7%, and private credit averaged 10.9%—demonstrating differentiated, above-market returns across strategies.
Healthy Fundraising and Deployment Pace
Raised and deployed $1.1 billion in Q2 2026 and nearly $5 billion on a trailing four-quarter basis. In H1 2026, organically raised and deployed over $3 billion, on track with the $10 billion fundraising/deployment target for 2026-2027.
Shift Toward Direct, Co-Investment, and Secondary Activity
Over the past four quarters, direct/co-investment/secondary funds raised and deployed more than $2.7 billion, representing over 55% of firm-wide capital raising and deployment—increasing higher-margin, non-fund-of-funds exposure.
Fee-Related Earnings and Revenue Growth
Fee-related earnings (FRE) totaled $39 million, up 10% year-over-year, with FRE margin at 48%. Fee-related revenue was $81 million, up 11% year-over-year, and management and advisory fees constituted nearly all fee-related revenue ($80 million), indicating durable revenue mix.
Operational Efficiencies from AI and Technology
Early AI initiatives materially improved productivity: NDA review time reduced from ~60 minutes to 5–10 minutes (saving several thousand hours annually), and private equity tear sheet/GPScout production reduced from 1–2 days to ~1 hour, enabling redeployment of human capital and potential margin upside.
Strategic Acquisition and Integration Progress
Completed the Stellus acquisition on June 22, 2026. Integration is underway with collaboration between Stellus and RCP; Stellus' origination pipeline has picked up meaningfully and cross-platform origination could add an estimated $500 million–$1 billion of incremental annual commitments if Stellus captures 10%–20% of RCP GP-deployed equity over time.
Improving Distribution and Exit Activity at RCP
Distributions at RCP funds through July 24 have more than doubled year-over-year and are up >25% versus the comparable period in 2024, implying higher velocity of capital returns and positive implications for future fundraising and deployment.
DE:AC3 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed