Financial Data and Key Metrics Changes - In Q4 2024, fee-related earnings increased by 22% and adjusted net income rose by 63% compared to Q4 2023 [8] - For the full year 2024, fee-related earnings grew by 19% and adjusted net income increased by 36% over the prior year [8][9] - The fee-related earnings margin was 42% for the year, up from 38% in 2023 and 31% at the end of 2020 [10] Business Line Data and Key Metrics Changes - Total fundraising reached $7.1 billion in 2024, a 40% increase compared to 2023, with Q4 fundraising of $2.3 billion being the highest in over two years [10][11] - Fundraising for specialized funds amounted to $1.9 billion, marking the second highest year on record [12] - The credit investment platform raised $1.8 billion, accounting for over 25% of total funds raised in 2024 [15] Market Data and Key Metrics Changes - Assets under management (AUM) ended the year at $80 billion, with fee-paying AUM at $65 billion [30] - Contracted not yet fee-paying AUM increased by 12% year-over-year, reaching a record level of $8.2 billion [31] Company Strategy and Development Direction - The company aims to double its 2023 fee-related earnings by 2028, with confidence in achieving this target despite non-linear growth [9][19] - Expansion of product offerings and distribution in the individual investor channel is a priority, with a new infrastructure interval fund launched [18][87] - The company is focusing on enhancing its credit strategies and absolute return strategies, which have shown improved performance and demand [15][16][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth targets, citing strong fundraising and a robust late-stage pipeline for 2025 [11][19] - The macro environment is seen as favorable for continued growth, particularly in private credit and infrastructure [26][63] Other Important Information - The company reported $55 million in annual performance fee revenue, marking the third time in five years that performance fees exceeded $50 million [16][38] - The balance sheet remains strong, with a quarterly dividend of $0.11 per share and a recent increase in the share repurchase program by $50 million [40][42] Q&A Session Summary Question: FRE margins outlook - Management indicated that they expect continued operating leverage and margin expansion, potentially reaching the mid-forty percent range [46][48] Question: Fundraising cadence for 2025 - Management noted that 2025 is expected to be better than 2024, with a strong pipeline and re-up calendar [50][56] Question: Conversion from pipeline to fee-paying AUM - Management discussed the importance of the macro environment and the types of funds raised in determining the conversion rate [60][64] Question: Changes in absolute return business dialogue - Management acknowledged that good performance has led to a more positive dialogue with clients regarding absolute return strategies [70][72] Question: Retail vehicles and distribution channels - Management clarified that significant revenue contribution from the new infrastructure fund is not expected in 2025, but they are optimistic about its long-term potential [84][86]

Core Insights - GCM Grosvenor Inc. reported a revenue of $165.26 million for Q4 2024, marking a year-over-year increase of 41.8% and an EPS of $0.27 compared to $0.17 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $164.59 million by 0.41%, while the EPS surpassed the consensus estimate of $0.24 by 12.50% [1] Financial Performance Metrics - Fee-paying AUM for Private Markets Strategies was $42.72 billion, below the average estimate of $43.88 billion [4] - Total Fee-paying AUM reached $64.77 billion, slightly lower than the average estimate of $65.32 billion [4] - Fee-paying AUM for Absolute Return Strategies was $22.05 billion, exceeding the average estimate of $21.44 billion [4] - Total Assets Under Management stood at $80.08 billion, compared to the average estimate of $81.33 billion [4] - Other operating income was reported at $1.10 million, slightly above the average estimate of $1.09 million [4] - Incentive fees amounted to $56.78 million, below the average estimate of $58 million [4] - Management fees were reported at $107.38 million, exceeding the average estimate of $101.98 million [4] Stock Performance - GCM Grosvenor's shares returned +6.3% over the past month, outperforming the Zacks S&P 500 composite's +2.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

GCM Grosvenor Inc. (GCMG) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.50%. 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 compan ...

Financial Performance - GCM Grosvenor reported GAAP Revenue of $165.3 million for the fourth quarter of 2024, a 42% increase compared to Q4 2023, and $514.0 million for the full year 2024, a 16% increase compared to the prior year[12] - GAAP net income attributable to GCM Grosvenor Inc was $7.6 million for Q4 2024, a 134% increase compared to Q4 2023, and $18.7 million for the full year 2024, a 46% increase compared to the prior year[12] - Adjusted EBITDA was $77.6 million for Q4 2024, a 56% increase compared to Q4 2023, and $213.8 million for the full year 2024, a 32% increase compared to the prior year[12] - Adjusted Net Income was $52.7 million for Q4 2024, a 63% increase compared to Q4 2023, and $140.8 million for the full year 2024, a 36% increase compared to the prior year[12] - Adjusted Net Income Per Share - Diluted was $0.27 for Q4 2024, a 59% increase compared to Q4 2023, and $0.74 for the full year 2024, a 35% increase compared to the prior year[12] Assets Under Management (AUM) - GCM Grosvenor's Assets Under Management (AUM) increased to $80.1 billion as of December 31, 2024, a 4% increase compared to $76.9 billion as of December 31, 2023[12] - Fee-Paying AUM (FPAUM) increased to $64.8 billion as of December 31, 2024, a 5% increase compared to $61.7 billion as of December 31, 2023[12] - Private Markets FPAUM increased to $42.7 billion as of December 31, 2024, a 6% increase compared to $40.3 billion as of December 31, 2023[12] - Absolute Return Strategies FPAUM increased to $22.1 billion as of December 31, 2024, a 3% increase compared to $21.4 billion as of December 31, 2023[12] Capital and Fundraising - GCM Grosvenor raised $2.3 billion of new capital in the fourth quarter of 2024, bringing full year 2024 fundraising to $7.1 billion, a 41% increase compared to the prior year[12] Shareholder Returns - GCM Grosvenor's Board of Directors approved a $0.11 per share dividend payable on March 17, 2025 to shareholders on record March 3, 2025[3, 45] - The Board of Directors approved an incremental $50 million share repurchase authorization in February 2025[12, 45]

Financial Performance - GCM Grosvenor reported Q4 2024 GAAP revenue of $165.3 million, a 42% increase compared to Q4 2023[12] - Full year 2024 GAAP net income attributable to GCM Grosvenor Inc. was $18.7 million, with fee-related earnings increasing by 19% year-over-year[13] - Adjusted EBITDA for Q4 2024 was $77.6 million, reflecting a 56% increase compared to the same quarter last year[12] - The firm’s adjusted net income for the full year 2024 increased by 36% compared to the prior year[13] - Net income attributable to GCM Grosvenor Inc. rose significantly from $3.3 million in Q4 2023 to $7.6 million in Q4 2024, an increase of 133.5%[51] - Adjusted EBITDA increased from $49.7 million in Q4 2023 to $77.6 million in Q4 2024, reflecting a growth of 56.2%[46] - Adjusted Net Income for the three months ended December 31, 2024, was $52,726,000, an increase from $31,434,000 in the previous quarter[52] - Adjusted EBITDA for the same period was $77,624,000, up from $48,380,000 in the previous quarter[52] - Total Operating Revenues for the three months ended December 31, 2024, were $165,261,000, compared to $122,931,000 in the previous quarter[52] - Fee-Related Revenue increased to $104,541,000 for the three months ended December 31, 2024, from $96,154,000 in the previous quarter[52] - Adjusted Net Income Per Share - diluted for the three months ended December 31, 2024, was $0.27, up from $0.16 in the previous quarter[53] Fundraising and Capital Management - The company raised $2.3 billion in new capital during Q4 2024, bringing total fundraising for the year to $7.1 billion, a significant increase from the previous year[13] - GCM Grosvenor's carried interest earnings potential increased from $133 million in 2020 to $401 million in 2024[16] - The company approved an incremental $50 million share repurchase authorization in February 2025, with $32 million remaining in the repurchase program as of December 3, 2024[43] - The share repurchase plan authorization totals $190.0 million as of February 2025, increased from $140.0 million[87] Assets Under Management - Total assets under management (AUM) reached approximately $80 billion, up from $76.9 billion at the end of 2023[12] - The company reported a 2% increase in Total Fee-Paying AUM, reaching $64,765 million as of December 31, 2024[55] - Fee-Paying Assets Under Management (FPAUM) includes assets from customized separate accounts and specialized funds, reflecting the company's management fee base[82] Revenue Streams - Private markets management fees increased by 20% year-over-year to $66.3 million in Q4 2024[12] - Management fees grew from $95.1 million in Q4 2023 to $107.4 million in Q4 2024, a rise of 12.4%[45] - Incentive fees surged from $20.0 million in Q4 2023 to $56.8 million in Q4 2024, marking a substantial increase of 184.0%[50] - The Average Fee Rate for Private Markets Management Fees increased to 0.56% for the three months ended December 31, 2024, from 0.54% in the previous quarter[57] - The company anticipates approximately $1.0 billion in management fees from CNYFPAUM in 2025, as part of a fee ramp schedule[66] Client Relationships and Retention - The company has a client retention rate of approximately 90%, indicating strong client relationships and potential for future growth[17] Dividends - GCM Grosvenor's board approved a $0.11 per share dividend, payable on March 17, 2025[3] - The company declared a dividend of $0.11 per share, payable on March 17, 2025[43] Debt and Cash Management - Total debt as of December 31, 2024, was $436 million, with a drawn revolving credit facility of $0 million[41] - Cash and cash equivalents stood at $16 million, with total cash and investments amounting to $298 million as of December 31, 2024[41] Tax and Expenses - The corporate blended statutory tax rate is projected to be 25.0% for the year ended December 31, 2024, adjusted from 24.2% to 24.7% in Q4 2023[68] - Total general, administrative and other net expenses for the three months ended December 31, 2024, are projected to be $(20,425) thousand, compared to $(19,530) thousand for the same period in 2023[71] Investment Strategies - The company has established a dedicated private equity secondaries vertical since September 2014, reflecting its commitment to specialized investment strategies[74] - Cumulative selected private market specialized fund closings from 2009 to 2018 are included in the company's investment strategy[75] - The company aims to enhance its operating profitability through various non-GAAP financial measures, including Adjusted EBITDA and Fee-Related Earnings[80] - Run-Rate Annual Performance Fees are expected to generate a 10% gross return for specialized opportunity strategies[69]

CHICAGO, Feb. 10, 2025 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider, today reported its results for the fourth quarter and full year December 31, 2024. GCM Grosvenor issued a detailed presentation of its results to the Public Shareholders section of GCM Grosvenor’s website at https://www.gcmgrosvenor.com/shareholder-events. GCM Grosvenor's Board of Directors approved a $0.11 per share dividend payable on March 17, 2025 to shareholders on record M ...

CHICAGO, Feb. 05, 2025 (GLOBE NEWSWIRE) -- GCM Grosvenor (NASDAQ:GCMG), a leading global alternative asset management solutions provider, is pleased to announce that Joe Metzger has joined the firm as a Managing Director in its Insurance Solutions Group, as the firm continues to expand its capabilities to meet the insurance industry's unique investment needs. Mr. Metzger brings nearly two decades of financial services and insurance industry experience, including prior roles at Guardian Life and TIAA-CREF. H ...

Wall Street expects a year-over-year increase in earnings on higher revenues when GCM Grosvenor Inc. (GCMG) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Feb ...

Company Overview - GCM Grosvenor is a global alternative asset management solutions provider with approximately $80 billion in assets under management [3] - The firm manages assets across private equity, infrastructure, real estate, credit, and absolute return investment strategies [3] - GCM Grosvenor has specialized in alternatives for more than 50 years and leverages its cross-asset class and flexible investment platform to deliver value for clients [3] - The company employs approximately 550 professionals and serves a global client base of institutional and individual investors [3] - GCM Grosvenor is headquartered in Chicago with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul, and Sydney [3] Upcoming Event - GCM Grosvenor will present at the Bank of America Securities Financial Services Conference on Wednesday, February 12, 2025, at 2:40 p.m. ET [1] - A live audio webcast of the presentation will be available on GCM Grosvenor's public shareholders website and the event website [2] - A replay of the webcast will be available within 24 hours after the conclusion of the live event [2]

CHICAGO, Jan. 28, 2025 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider, will present at the UBS Financial Services Conference on Tuesday, February 11, 2025, at 2:40 p.m. ET. A link to the live audio webcast of the presentation is 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 180 days following the presentation. About GCM Grosvenor ...