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American alternative asset management firm From Wikipedia, the free encyclopedia
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]
 | |
Headquarters at 900 North Michigan | |
| Company type | Public company[1] |
|---|---|
| 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 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]
In 2019, GCM Grosvenor received the Civic Federation’s Addams-Palmer Award from for exemplary civic involvement by a Chicago institution.[8]
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]
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