Core Insights - GCM Grosvenor has been recognized for the fifth time as one of Pensions & Investments' Best Places to Work in Money Management, ranking 1 in the Major Employers category [1][2] - The recognition highlights the firm's commitment to creating an exceptional workplace and fostering strong employee engagement [1][2] - The Best Places to Work program evaluates firms based on employer and employee surveys regarding workplace policies, practices, and engagement [2] Company Overview - GCM Grosvenor is a global alternative asset management solutions provider with approximately $87 billion in assets under management across various investment strategies [4] - The firm has over 50 years of experience in alternatives and aims to deliver value for clients through a flexible investment platform [4] - GCM Grosvenor employs around 560 professionals and serves a global client base, with offices in major cities including Chicago, New York, and London [5]

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We ended the quarter with a record $87 billion of assets under management, a 9% increase compared to the end of 2024. Investment performance remained solid across each of our business verticals. Absolute Return Strategies has delivered particularly strong performance to clients, with our multi-strategy composite generating a 14.2% gross rate of return over the last twelve months. In addition to the strong ARS performance, we also enjoyed year-over-year portfolio appreciation across each of our private marke ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-Q __________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39716 __________________________________ | Large accel ...

Core Insights - GCM Grosvenor Inc. is a significant player in the global alternative asset management industry, offering investment solutions across various asset classes such as hedge funds, private equity, real estate, and infrastructure [1] - The current consensus price target for GCMG is $14.00, reflecting a slight decrease from the previous quarter's target of $14.50, despite a strong total return of 73% over the past three years [2][6] - The company's recent earnings report showed a profit of $0.16 per share, exceeding the Zacks Consensus Estimate of $0.15 per share, indicating a strengthening financial position [3][6] Price Target and Analyst Outlook - The consensus price target for GCMG has increased from $13.83 to $14.00 over the past year, suggesting a gradual improvement in the company's outlook [3] - Piper Sandler analyst Crispin Love has set a higher price target of $15.00 for GCMG, supported by the company's upgrade to a Zacks Rank 2 (Buy) [4] - The upcoming earnings report is expected to show growth, although it may not meet all factors for an earnings beat [4] Strategic Initiatives and Market Conditions - Investors are advised to monitor GCMG's strategic initiatives and market conditions, as these could influence analyst opinions and price targets [5] - The recent Q2 2025 earnings call featured key executives and analysts, including Crispin Love, who reiterated the $15 price target, indicating continued confidence in GCMG's growth potential [5]

Core Insights - GCM Grosvenor Inc. reported a revenue of $134.97 million for Q3 2025, marking a year-over-year increase of 9.8% and exceeding the Zacks Consensus Estimate by 2.38% [1] - The company's EPS for the same quarter was $0.19, up from $0.16 a year ago, representing an EPS surprise of 11.76% compared to the consensus estimate of $0.17 [1] Financial Performance Metrics - Fee-paying AUM for Private Markets Strategies was reported at $46.25 billion, slightly below the estimated $46.3 billion [4] - Total Fee-paying AUM reached $70.19 billion, surpassing the average estimate of $69.9 billion [4] - Fee-paying AUM for Absolute Return Strategies was $23.94 billion, exceeding the average estimate of $23.6 billion [4] - Total Assets Under Management stood at $87 billion, compared to the average estimate of $87.47 billion [4] - Other operating income was $3.58 million, significantly higher than the estimated $1.39 million, reflecting a 228.4% year-over-year increase [4] - Incentive fees amounted to $25.47 million, above the estimated $22.67 million, with a year-over-year increase of 9.3% [4] - Management fees totaled $105.92 million, slightly above the estimated $104.57 million, representing a 7.5% year-over-year increase [4] Stock Performance - GCM Grosvenor's shares have returned -2.3% over the past month, contrasting with a +1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Financial Data and Key Metrics Changes - For Q3 2025, the company reported fee-related earnings, adjusted EBITDA, and adjusted net income increased by 18%, 16%, and 18% respectively compared to Q3 2024 [4] - The fee-related earnings margin for the quarter was 45%, approximately 350 basis points higher than Q3 2024 [4] - The company ended the quarter with a record $87 billion in assets under management, a 9% increase from Q3 2024 [4][18] Business Line Data and Key Metrics Changes - Absolute Return Strategies (ARS) generated a gross rate of return of 14.2% over the last 12 months, with ARS management fees growing 6% year-over-year [5][18] - Private markets management fees increased by 10% year-to-date and 7% year-over-year, driven by solid fundraising and conversion of contracted AUM [18] - The gross unrealized carried interest balance reached an all-time high of $941 million, up 4% from Q2 2025 [6][20] Market Data and Key Metrics Changes - Year-to-date fundraising reached $7.2 billion, surpassing the total for the full year of 2024, with infrastructure and credit leading the growth [5][12] - Insurance clients accounted for approximately 14% of capital raised over the last 12 months and 40% of Q3 capital raised [13] Company Strategy and Development Direction - The company aims to double its 2023 fee-related earnings to over $280 million by 2028 and increase adjusted net income per share to over $1.20 by 2028 [10][22] - The company is focused on expanding its investment strategies across private equity, infrastructure, credit, real estate, and absolute return, with a scalable investment platform [9][10] - The company is actively managing its share buyback program, with $86 million remaining in authorization [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to compound value for shareholders over the long term, citing strong fundraising momentum and investment performance [11][22] - The outlook for ARS is increasingly encouraging, with a strong pipeline and improved investor interest [13][31] Other Important Information - The company announced an increase in its quarterly dividend to $0.12 per share, reflecting confidence in its growth trajectory [10][21] - The company hosted its 2025 Investor Day, highlighting its central role in the alternatives ecosystem and its client-first culture [8][10] Q&A Session Summary Question: Are there ongoing fees for the CFO product? - The CFO is a regular recurring management fee with some carry building over time, and the company will start to enjoy management fees from that pool of capital next quarter [24][26] Question: Why isn't the improvement in ARS reflected in net flows? - Management noted that while interest levels are higher, they are maintaining their flat net flows budgeting assumption for Q4, which is typically a seasonally weaker quarter [27][31] Question: What drives the strong realization outlook in Q3? - The seasonality of Q3 is related to when tax carry is paid in the industry, and the company has a diversified carry across many lines, making it difficult to predict timing [34][37] Question: How is the company managing stock-based compensation and share count? - The company expects stock-based compensation to remain stable, with less than 3% dilution over the last five years, actively managing dilution through buybacks [39][41] Question: What is the current status of the retail business and AUM? - The individual investor channel currently has about $4 billion in AUM, with significant growth in partnerships and separately managed accounts [44][46] Question: Are there concerns in the private credit landscape? - Management indicated that they are not seeing a slowdown in private credit and believe the asset class will continue to grow despite some high-profile credit issues [52][56]

GCM Grosvenor Inc. (GCMG) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of $0.17 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +11.76%. A quarter ago, it was expected that this company would post earnings of $0.15 per share when it actually produced earnings of $0.16, delivering a surprise of +6.67%.Over the last four quarters, the comp ...

Financial Performance - GCM Grosvenor reported $87 billion in Assets Under Management (AUM) as of September 30, 2025, a 9% increase compared to Q3 2024[6] - Fee-Paying AUM (FPAUM) reached $702 billion, up 10% from the same period last year[12] - GAAP Revenue for the third quarter was $135 million, a 10% increase year-over-year, and $3805 million for the nine months ended, a 9% increase year-over-year[12] - GAAP net income attributable to GCM Grosvenor Inc increased 153% to $105 million for the quarter and 138% to $264 million year-to-date[12] - Adjusted Net Income increased 18% to $372 million for the quarter and 19% to $1046 million year-to-date[12] Fundraising and Capital Deployment - The company raised $95 billion over the last twelve months, a 52% increase compared to the prior year twelve-month period[13] - $19 billion of new capital was raised in Q3 2025, and $72 billion year-to-date, a 49% increase compared to prior year-to-date[13] Dividend - GCM Grosvenor's Board of Directors approved a $012 per share dividend payable on December 15, 2025 to shareholders on record December 1, 2025[3] Asset Allocation - Private Markets accounted for 71% of total AUM[16] - Direct-Oriented Strategies represented 53% of Private Markets AUM[16]