GCM Grosvenor

American alternative asset management firm

GCM Grosvenor

Headquarters at 900 North Michigan

Company type| Public company[1]

Traded as

| Nasdaq: GCMG
Industry| Investment management
Founded| 1971
Founder| Richard Elden
Headquarters| 900 North Michigan
Chicago, Illinois, United States

Key people

| Michael Sacks
Products| Hedge funds, private equity, infrastructure, real estate credit, multi-asset class, ESG
AUM| ~$76 billion (2023)

Number of employees

| ~530
Website| www.gcmgrosvenor.com

GCM Grosvenor (Nasdaq: GCMG) is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.[2]

GCM Grosvenor manages assets on behalf of a global client base across hedge fund strategies, private equity, real estate, infrastructure, and multi-asset class investments. The firm specializes in developing customized portfolios for clients who want an active role in their alternatives programs; it also provides multi-client portfolios for investors. Investment offerings include direct and co-investments, secondaries, and multi-manager portfolios. GCM Grosvenor's clients are mostly institutions, such as pension funds, sovereign wealth entities, financial institutions, corporations, insurance companies, charitable organizations, and endowments.[3]

GCM Grosvenor has more than $15 billion invested and committed to Environmental, Social and Governance (ESG) themes, and as a signatory to the Principles for Responsible Investment (PRI), GCM Grosvenor received an A+ rating from the PRI in 2020 for its overarching approach to ESG strategy and governance and an A+ rating for ESG integration in manager selection, approval, and monitoring.[4][5]

GCM Grosvenor has over $30 billion in assets under management with small, early-stage, diverse, and women alternative investment managers. [6] In 2023, the firm is combining their two longstanding conference, Consortium and the Small and Emerging Managers (SEM) Conference, into one flagship event focused on driving the diverse and emerging manager industry forward. [7]

## Awards

[edit]

In 2019, GCM Grosvenor received the Civic Federation’s Addams-Palmer Award from for exemplary civic involvement by a Chicago institution.[8]

## History

[edit]

GCM Grosvenor was founded in 1971 by Richard Elden and managed the first fund of hedge funds in the United States.[9] In 1973, Elden brought on a partner, Frank Meyer, who had been a colleague at A.G. Becker.[10] Elden left GCM Grosvenor in 2006 to start Lakeview Investment Manager, which runs an activist fund of hedge funds, and Meyer retired from the business.[10][11][12] Michael Sacks, who joined the firm in 1990, is the current Chairman and chief executive officer of the company.

In January 2014, GCM Grosvenor completed its acquisition of the Customized Fund Investment Group (CFIG) from Credit Suisse Group AG.[13] CFIG was Credit Suisse's third-party private equity business, investing some $20 billion with outside private equity managers.[14]

In August 2020, GCM Grosvenor announced it will become a public company through a merger with CF Finance Acquisition Corp. (“CFAC”) (NASDAQ: CFFA), a special purpose acquisition company sponsored by Cantor Fitzgerald, a leading global financial services firm. GCM Grosvenor began trading on The Nasdaq Capital Market under the ticker “GCMG” on November 18, 2020. [1][15]

## References

[edit]

1. ^ a b "GCM Grosvenor and Cantor Fitzgerald SPAC merge and goes public". PE Hub. November 18, 2020.
2. ^ "GCM Grosvenor Opens Office in Australia, Expanding Presence in Asia-Pacific Region, and Hires Andy Lukas to Lead Australia/New Zealand Business Development Efforts". GlobeNewswire News Room. Retrieved April 14, 2023.
3. ^ Erika Morphy (December 10, 2019). "GCM Grosvenor Closes Nearly $1B Fund". GlobeSt.com.
4. ^ "GCM Grosvenor granted top rating by PRI". Private Equity Wire. September 5, 2019.
5. ^ "Grosvenor Capital Management LLC". Bloomberg L.P. January 16, 2020.
6. ^ "GCM Grosvenor Announces Launch of Sponsor Solutions Effort Focused on Seeding Small, Emerging, and Diverse Private Equity Firms; CalPERS Commits $500 Million to the Strategy". GlobeNewswire News Room. Retrieved April 14, 2023.
7. ^ "Emerging Manager Monthly | Investment industry trends & investor profiles". Emerging Manager Monthly, February 2023 Edition (Vol. XVIII, Issue 2) pg. 21. Retrieved April 14, 2023.
8. ^ "GCM Grosvenor Receives Top Rating from PRI". Business Insider. September 5, 2019.
9. ^ "Richard Elden". University of Chicago. Archived from the original on January 27, 2013. Retrieved August 30, 2014.
10. ^ a b Rittereiser, Cathleen M.; Kochard, Lawrence E. (2010). Top Hedge Fund Investors: Stories, Strategies, and Advice. John Wiley & Sons. p. 33\. ISBN 9780470637142. Retrieved August 31, 2014.
11. ^ "Company Overview of Lakeview Investment Group, LLC". Bloomberg Businessweek. September 1, 2014.[dead link]
12. ^ Anne Logue (November 24, 2008). "Sweet Home Chicago". Institutional Investor's Alpha.
13. ^ PRNewswire (January 2, 2014). "Grosvenor Capital Management Completes Acquisition of Customized Fund Investment Group from Credit Suisse Group AG". The Wall Street Journal.
14. ^ "GCM Grosvenor Closes Deal For Credit Suisse P.E. Biz". FINalternatives. January 8, 2014.
15. ^ "GCM Grosvenor to Become Public Company Through Merger with CF Finance Acquisition Corp. (CFFA)". StreetInsider.com. August 3, 2020.

* v
* t
* e

Hedge funds

Investment
strategy|

| Arbitrage /
relative value|

* Capital structure arbitrage
* Convertible arbitrage
* Equity market neutral
* Fixed income arbitrage / fixed-income relative-value investing
* Statistical arbitrage
* Volatility arbitrage

|

Event-driven|

* Shareholder activism
* Distressed securities
* Risk arbitrage
* Special situation

Directional|

* Convergence trade
* Commodity trading advisors / managed futures account
* Dedicated short
* Global macro
* Long/short equity
* Trend following

Other|

* Fund of hedge funds / Multi-manager

Trading|

* Algorithmic trading
* Day trading
* High-frequency trading
* Prime brokerage
* Program trading
* Proprietary trading

Related
terms|

| Markets|

* Commodities
* Derivatives
* Equity
* Fixed income
* Foreign exchange
* Money markets
* Structured securities

|

Misc|

* Absolute return
* Arbitrage pricing theory
* Assets under management
* Black–Scholes model (Greeks: delta neutral)
* Capital asset pricing model (alpha / beta / security characteristic line)
* Fundamental analysis
* Hedge
* Securitization
* Short
* Taxation of private equity and hedge funds
* Technical analysis

Investors|

* Vulture funds
* Family offices
* Financial endowments
* Fund of hedge funds
* High-net-worth individual
* Institutional investors
* Insurance companies
* Investment banks
* Merchant banks
* Pension funds
* Sovereign wealth funds

Governance|

* Fund governance
* Standards Board for Alternative Investments
* Managed Funds Association

* Alternative investment management companies
* Hedge funds
* Hedge fund managers
* List of hedge funds

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