Financial Data and Key Metrics - Fee-related Earnings increased 20% and adjusted net income increased 29% year-over-year [4] - Private markets management fees grew 11% year-over-year, with private markets now comprising 71% of total assets under management [4] - Assets under management were $79 billion, a 4% increase from a year ago, and Fee-Paying AUM also increased 4% year-over-year, ending the quarter at $63 billion [15] - Contracted-Not-Yet-Fee-Paying AUM ended the quarter at $7.3 billion, a 9% increase from a year ago [15] - FRE margin grew from 36% in Q2 2023 to 40% in Q2 2024 [19] Business Line Data and Key Metrics - Private markets Fee-Paying AUM grew by 7% year-over-year, representing 66% of total Fee-Paying AUM [15] - Absolute Return Strategies (ARS) generated a 2.4% gross return in Q2, with year-to-date gross returns of 7.4% and 12.3% over the last twelve months [6] - ARS management fees increased 3% year-over-year, with expectations for Q3 to be consistent with the previous year [16] - $16 million in incentive fees were realized in Q2, comprising $4 million of ARS performance fees and $12 million of carried interest [18] Market Data and Key Metrics - $1.8 billion was raised in Q2, a 26% year-over-year increase, bringing first-half new capital raised to $3.4 billion, a 45% increase from the first half of 2023 [5] - Infrastructure was the greatest contributor to quarterly fundraising, with over $600 million raised, followed by private equity and private credit [5] - $750 million was raised year-to-date for dedicated credit programs, with expectations for significant growth in the credit platform [5] Company Strategy and Industry Competition - The company aims to double its 2023 Fee-Related Earnings in five years, driven by capital deployment, client expansion, new client acquisition, scaling new initiatives, and margin expansion [10] - Private markets specialized fundraising reached $1 billion year-to-date, with expectations for materially higher levels than in 2022 and 2023 [6] - The company is expanding its presence in the individual investor channel, with a $300 million anchor commitment for an infrastructure product targeting this channel [8] Management Commentary on Operating Environment and Future Outlook - The company expects fundraising in the second half of 2024 to exceed the first half, with a strong pipeline and improved fundraising environment [5] - Management expressed confidence in the long-term demand outlook, high re-up rates, and operating leverage, leading to optimism for the back half of the year and longer-term goals [9] - Volatile markets are seen as favorable for Absolute Return Strategies, with confidence in the ability to add value in difficult market environments [7] Other Important Information - The company extended its term loan by two years to February 2030, decreasing the spread on its debt by 25 basis points and upsizing the aggregate principal by $50 million [19] - $30 million of stock was repurchased in Q2, leaving $35 million in the share repurchase program as of quarter-end [20] Q&A Session Question: Concentration risk in ARS and outlook for withdrawals - The company does not have concentration risk in terms of revenue, with diversification across strategies and clients [21][22] - ARS management fees for Q3 are expected to be flat year-over-year, with stabilization achieved in 2024 [23] Question: Breakdown of FRE growth between private markets and ARS - Private markets are expected to grow at low double-digit to low teens rates, while ARS growth is based on compounding in a neutral flows environment [25] Question: Wealth management opportunities and product differentiation - The individual investor channel is underpenetrated for alternatives, with significant opportunities in infrastructure, sustainability, private equity, and credit [27][28] Question: Outlook for fundraising in the second half of 2024 - The pipeline is full, with $3 billion of re-ups still in the pipeline and strong specialized fundraising expected [34][35] Question: Impact of macro volatility on deal activity and outlook - Volatile markets reinforce the attractiveness of alternative strategies, with no significant impact on the company’s five-year outlook [37] Question: Private credit growth and origination capabilities - Private credit is expected to grow across all channels, with a strong pipeline for the remainder of the year and beyond [39][40] Question: FRE margin trajectory and areas of investment - FRE margins are expected to continue expanding, driven by operating leverage and disciplined expense management [42][43] - Investments are focused on the individual investor channel, credit capabilities, and other distribution channels [45] Question: Performance fee cadence and comp ratio - Most performance fees crystallize in Q4, with broad-based positive performance across ARS portfolios [48][50] - The margin on incentive fees is expected to grow as revenues increase [47]

GCM GROSVENOR 2024 Second Quarter Results Earnings Presentation GCM Grosvenor Reports Q2 2024 Results | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

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 June 30, 2024 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 __________________________________ GCM Grosvenor Inc. ...

GCM Grosvenor Inc. (GCMG) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 7.14%. A quarter ago, it was expected that this company would post earnings of $0.14 per share when it actually produced earnings of $0.14, delivering no surprise. Over the last four quarters, the company has s ...

GCM GROSVENOR 2024 Second Quarter Results Earnings Presentation GCM Grosvenor Reports Q2 2024 Results | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

CHICAGO, May 24, 2024 (GLOBE NEWSWIRE) -- GCM Grosvenor (NASDAQ:GCMG), a global alternative asset management solutions provider, announced today that Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor, will present at the TD Financial Services & Fintech Summit on Friday, June 7th at 10:20am EDT. A link to the live audio webcast of the presentation will be available on GCM Grosvenor's public shareholders website and the event website. For those unable to listen to the live audio webcast, a ...

CHICAGO, May 24, 2024 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider, announced today that Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor, will present at the TD Financial Services & Fintech Summit on Friday, June 7th at 10:20am EDT. A link to the live audio webcast of the presentation will be available on GCM Grosvenor's public shareholders website and the event website. For those unable to listen to the live audio webcast, a ...

CHICAGO, May 22, 2024 (GLOBE NEWSWIRE) -- GCM Grosvenor (NASDAQ:GCMG), a global alternative asset management solutions provider, announced today that Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor, will present at the William Blair 44th Annual Growth Stock Conference on Wednesday, June 5 at 2:40 p.m. CST. A link to the live audio webcast of the presentation will be available on GCM Grosvenor's public shareholders website and the event website. For those unable to listen to the live aud ...

A link to the live audio webcast of the presentation will be available on GCM Grosvenor's public shareholders website and the event website. For those unable to listen to the live audio webcast, a replay will be available for 90 days following the presentation. About GCM Grosvenor GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $79 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return inv ...

In addition to her role as partner and Global Head of Private Healthcare Investing, Natauri was an active member of Goldman Sachs' Corporate Investment Committee, Sustainable Investing Investment Committee, and Life Sciences Investing Committee. She has served on the boards of healthcare investments Avantor, Parexel, MyEyeDr, MDVIP, and MedVet, among others. "Healthcare is a rewarding sector for investors; it serves a critical role for patients, their families, and society. Success requires a firm like Invi ...