Stellus Capital agrees to be acquired by P10; closing expected mid-2026
Stellus Capital Management, the external investment adviser to Stellus Capital Investment Corporation, has signed a definitive agreement to be acquired by P10, Inc. (NYSE: PX). The deal results in a change of control of the adviser, which terminates the current advisory agreement at closing, so the company's board and stockholders will be asked to approve a new advisory agreement with substantially the same terms apart from the initial term.
Key points
- P10, Inc. (NYSE: PX) will acquire Stellus Capital Management, which the release says has $3.8 billion in assets under management
- Current Stellus partners will keep control of day-to-day operations, including investment decisions and investment committee processes
- Current investment advisory agreement terminates upon closing; a new agreement requires board and stockholder approval
- Closing is expected in the middle of 2026, subject to BDC shareholder approvals and other customary conditions
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 05, 2026.
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