Rice Park Capital Management Registers AUM Growth of 51.98%

Plymouth, Minnesota-based investment advisory firm, Rice Park Capital Management LLC, continues to bolster its standing in the private investment sector, as per recent Form ADV filings spanning from June 2022 to June 2023. Established in 2019 under the aegis of CEO Nicholas Smith, the firm's exceptional growth is a testament to its robust investment strategies and dedicated team of experts.

Rice Park Capital Management, serving a sophisticated clientele of qualified investors, strives to maximize investment returns through capital appreciation, dividends, or both. The firm has built a diverse portfolio with ventures in residential mortgage servicing rights, residential credit, and early-stage startups, each catered to by unique investment strategies.

Key highlights from the firm's recent activities include a significant rise in the total Assets Under Management (AUM), growing from $387,594,025 to $705,619,116. This increase reflects a 51.98% growth year-on-year.

Simultaneously, Rice Park Capital Management has seen an increase in its employee count, expanding from 11 to 19 over the same period. The firm has managed to maintain its total number of accounts at 3.

The firm disclosed the following modifications to its private funds: 

Private Fund RPC Ventures Fund I LP

• Gross asset value decreased from $26.5M to $17.6M
• Addition of MUFG Investor Services as an administrator on May 2, 2023
• Removal of Park State Bank and BMO Harris Bank NA as custodians on June 30, 2022
• Addition of Gateway Bank as a custodian on July 17, 2019
• Addition of Citi Bank, N.A. as a custodian on March 31, 2021

RPC Residential Credit Holdings LLC

• Gross asset value increased from $56.9M to $112.4M
• Beneficial ownership by related persons decreased from 4% to 1%
• Removal of U.S. Bank N.A., Colorado Federal Savings Bank, and Credit Suisse First Boston Mortgage Capital LLC as custodians in May 2023
• Addition of BMO Harris Bank as a custodian on June 30, 2022
• Auditor changed from KPMG US LLP to CohnReznick on May 2, 2023

RCP MSR Investment Fund I LP

• Gross asset value increased from $304.1M to $575.5M
• Removal of US Citi Commercial Bank as a custodian on June 30, 2022
• Addition of Citi Bank NA and Credit Suisse First Boston Mortgage Capital LLC as custodians on June 30, 2022
• Removal of R.J. O'Brien as a prime broker on May 2, 2023
• Addition of R.J. O'Brien Securities, LLC and Daiwa Capital Markets America Inc. as prime brokers on May 2, 2023