Dallas-based private markets solutions provider P10 Inc. has appointed former Goldman Sachs executive Luke Sarsfield as its new chief executive officer.
Sarsfield was also appointed a member of the P10 board of directors. P10 said that its 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.
“We’ve 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,” Alpert said in a statement. “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’re confident that Luke is the best possible candidate to become CEO.”
In his new role, Alpert will support Sarsfield in corporate matters. Webb will direct his attention toward strategic opportunities and assist Sarsfield in potential corporate transactions, P10 said.
Sarsfield is the former global co-head of Goldman Sachs Asset Management, which managed roughly $2.5 trillion in assets under his leadership. Before that, he was global head of the Financial Institutions Group in the Investment Banking Division at the firm.
Sarsfield has 25 years of experience in finance and capital markets, including building asset management businesses and advising financial institutions on strategic transactions. With that experience, the company said that Sarsfield is uniquely positioned to advance P10’s strategic priorities.
‘The ideal leader to champion our next phase of growth’
Alpert said that Sarsfield joins P10 at a key time because the company is gaining momentum in investment performance, fundraising, and 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,” Alpert said.
“The P10 story is one of establishing partnerships with market leaders who have built extraordinary, long term track records. With the addition of Luke, we continue that trend.” Webb said. “Upon our IPO in late 2021, we laid out ambitious fundraising and financial targets and we have solidly surpassed those targets. As we prepare our next set of corporate goals, we believe passing the baton to Luke provides P10 with the ideal leader to champion our next phase of growth.”
Sarsfield said P10 is ready for big things ahead.
“P10 has achieved incredible success under the leadership of Robert and Clark, and thanks to the talented team they’ve assembled, the company is poised for continued organic and inorganic growth,” Sarsfield said. “We instantly identified complementary visions and values in my discussions with the board, and I’m excited to get to work. P10 is comprised of world-class investment strategies and professionals who are focused on delivering outstanding, differentiated results for clients. We’ll continue to provide access to attractive markets and return streams that our clients may not be able to otherwise incorporate into their portfolios.”
P10 has a global investor base of more than 3,400 investors across 50 states, 55 countries, and six continents, including some of the world’s largest pension funds, endowments, foundations, corporate pensions, and financial institutions.
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