RCP Advisors, a federally registered investment adviser,* is a private equity investment management firm that provides access to North American lower middle market private equity fund managers through funds-of-funds, secondary funds, and co-investment funds. Additionally, the Firm provides advisory and research services. RCP’s primary funds-of-funds account for the majority of its capital under management. Funds-of-funds are limited partnerships which invest in a diversified portfolio of private equity funds at the time those underlying funds are established (i.e. in the “primary” market for such funds). Funds-of-funds are designed to bring access, careful selection, and diversification to investors which may otherwise find it difficult to assemble such a portfolio on their own. RCP is a specialized manager, which focuses solely on smaller managers in the North American lower middle market buyout sector.