Our legacy Firm was formed in 2009 for the purpose of serving as the exclusive investment advisor for RPCA Financial Ventures L.P. and RPCA Financial Ventures QP L.P - mirror image or parallel funds - (together "Fund 1"). Fund 1 is structured as a Hedge Fund and is NOT accepting any new investors at this time. As of September 30, 2018 we have approximately $69MM of assets under management in Fund 1.
In 2011, we launched RPCA Opportunistic Financial Ventures L.P. ("Fund 2"). Fund 2 is structured as a Hedge Fund and is currently accepting investments only from accredited investors who have received and reviewed our Confidential Private Placement Memorandum dated June 22, 2011. As of September 30, 2018, Fund 2 has approximately $53MM of assets under management.
On April 3, 2017, we opened Rosenthal Income Strategies Fund L.P. (Fund "3"). Fund 3 is structured as a Hedge Fund and is currently accepting investments only from accredited investors who have received and reviewed our Confidential Private Placement Memorandum dated February 28, 2017. As of September 30, 2018, Fund 3 has approximately $10MM of assets under management.
Our Firm seeks to enter into close professional relationships with investors in its limited partnerships as well as the companies in which the partnerships invest. Please refer to About and Staff Bios for additional information about our Firm and our principals.
The Funds for which we provide investment advisory services are audited annually by an outside audit firm and all Funds have received unqualified audit opinions. Our Firm has engaged an independent 3rd party administrator for the Funds since inception. That firm provides accounting services and maintains operating control over any disbursements made from the accounts of the Funds.
As of September 30, 2017, Fund 1 is "fully invested" in the common stock of 20 community banks located in 16 states. Fund 2 is currently invested in 22 community bank stocks located in 15 different states, and Fund 3 is invested in 16 community banks in 11 states.
Audited financial statements for Fund 1, Fund 2 and Fund 3, which show the growth in partnership equity capital since the inception of each Fund, are available for inspection by accredited investors who have been approved by our Firm. However, past performance does not guarantee future results and this investment involves significant risk. An investment in any of our Funds is not insured or guaranteed by any entity. Nothing written in this website shall be construed as an offer to buy or sell securities. Any such offer is made to accredited investors only by and through the Confidential Private Placement Memorandum, Partnership Agreement and Subscription Booklet.
Our Firm is regulated by the Secretary of State of Indiana - Securities Division. We file Form ADV Part 1 and Part 2 annually, and you may connect to the links to view our most recent filings. Prospective investors may contact us to receive more information. Of course, our past performance does not guarantee any future results.
Our "Investment Philosophy & Approach" is of utmost importance to understanding an investment opportunity with us. In short, this process generally involves 5 pillars: 1) we conduct "quantitative" analysis on prospective investments using FDIC Call Report data as well as other publicly available information on the banking companies we are analyzing; 2) we perform our own "qualitative" due diligence, using written materials and personal meetings with management of the financial institutions we are studying, in an effort to understand the "culture" of the organizations. We are looking for a specific culture at the banks in which we invest that can best be described as a "balanced culture". We believe our approach to this qualitative analysis is unique among investment managers and it is a critical component of our investment decision; 3) we undertake demographic analysis of the markets in which the banking companies we are examining operate; 4) we review current valuation metrics of all prospective investments - looking for the best values available; and 5) we assess management's openness to a possible change of control.
If you wish to learn more about our Firm and/or the Funds we manage, we invite you to contact us.