Exclusive:  The Walton family-funded PE firm that owns Rapha Cycling Club presses pause on all new investments

RZC Investments, the private equity firm of Walmart heirs Tom and Steuart Walton, has paused new investments and is reconsidering the future structure of the fund, according to two people familiar with the matter. A spokesperson from RZC confirmed the pause.

One of RZC’s two partners, Don Huffner, left the fund last year and is in the process of giving up his board seats, according to the two people, who Fortune granted anonymity because they weren’t authorized to speak about the firm.