- After about six years in the position
- Praise for Alpert
- Co-CEO Clark Webb also leaves his post
- Luke Sarsfield taking over
- Alpert will remain as Executive Chairman at P10
- Alpert said 127 words
(exechange) — Dallas, Texas, October 23, 2023 — Robert Alpert, co-chief executive of P10, leaves his position. As announced by P10 Inc. in a news release on Monday, October 23, 2023, Robert Alpert leaves his post as co-chief executive officer at the asset manager, after about six years in the role, effective immediately.
Generally speaking, it raises questions when a co-CEO leaves his post abruptly.
Robert Alpert’s duties as co-CEO will be taken over by Luke Sarsfield, most recently Global Co-Head at Goldman Sachs Asset Management, as Chief Executive Officer.
Co-CEO Clark Webb also leaves his post, effective immediately.
“Now is the perfect time”
The management change is explained as follows. Robert Alpert stated: “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.”
Alpert will remain as Executive Chairman at P10
P10 stated: “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.”
Share price decline since October 2022
The announcement follows a decline in P10 Inc.’s share price of 13% since October 2022.
In the position of CEO since 2017
Robert Alpert became CEO of the Company in 2017.
Alpert is one of the two directors designated by the 210 Group and has served as the Company’s Co-Chief Executive Officer and Chairman of the Board since 2017.
In addition to his role at P10, Alpert is also the co-founder and principal of 210 Capital.
Additionally, he is the Chairman of the Board of Crossroads Impact Corp. and a director of Elah Holdings, lnc., both of which are OTC Pink listed investment holding companies.
Alpert is also a managing member of Merfax Financial Group, LLC, an investment fund and the controlling shareholder of Incline Insurance Group, LLC, a national property and casualty insurance company], and a director of Redpoint Insurance Group, LLC, an insurance holding company.
He was formerly CEO (April 2019-September 2020) and Chairman of the Board of Globalscape, Inc., a software developer offering secure enterprise FTP solutions.
Before founding 210 Capital, Alpert was the founder and portfolio manager of Atlas Capital Management, L.P. (October 1995 to September 2015).
Alpert received a B.A. from Princeton University in 1987 and an M.B.A. from Columbia University in 1990.
127 words by Robert Alpert
In the release announcing his departure as CEO of P10 Inc., Robert Alpert received praise.
In announcing his departure, Robert Alpert said 127 words.
Robert Alpert stated: “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. 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.”
Push-out Score for Robert Alpert’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Robert Alpert was pushed out or felt pressure to leave his position.
exechange reached out to P10 and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 44.2023 ($).