Financial Performance - The company's AUM increased by 4% from $73.7 billion to $76.9 billion compared to Q4 2022[4] - Private Markets FPAUM increased by 9% from $36.9 billion to $40.3 billion[4] - Fourth quarter Fee-Related Earnings increased 23% year-over-year[4] - Adjusted EBITDA increased 40% in the fourth quarter[4] - Adjusted Net Income increased 48% in the fourth quarter[4] - GAAP Revenue increased 17% in Q4 2023[4] Strategic Growth & Fundraising - Private Markets was a key growth driver, with FPAUM increasing 9% over prior year and management fees increasing 9% over both prior year QTD and YTD[4] - The firm share of carried interest balance increased from $133 million to $373 million[6] - $30 million of Class A common stock was repurchased during the year ended December 31, 2023[49] - $9.4 billion in fundraising was achieved in 2023[11] Portfolio Composition - Private Markets accounted for 65% of FPAUM, up from 54% in 2020[6] - Direct-Oriented Strategies accounted for 52% of Private Markets AUM, up from 39% in 2020[6]

Financial Data and Key Metrics Changes - Fee-related earnings increased by 16% year-over-year, with private markets management fees growing by 10% year-over-year, marking the tenth consecutive quarter of double-digit growth excluding catch-up fees [13][28] - Assets under management (AUM) reached $76 billion, a 5% increase from the previous year, with total fee-paying AUM also increasing by 5% year-over-year [53] - Adjusted EBITDA and adjusted net income grew by 5% and 7% respectively [28] Business Line Data and Key Metrics Changes - The infrastructure vertical raised approximately $580 million, more than doubling its AUM from $6 billion at the end of 2020 to over $13 billion by the end of Q3 2023 [9] - Private markets now represent 65% of fee-paying AUM, up from 54% at the end of 2020, with private markets management fees growing at a 13% compound annual growth rate over the last three years [23][44] - Absolute return strategies management fees remained stable in Q3 compared to the previous quarter, with expectations for stability in Q4 [24] Market Data and Key Metrics Changes - The company noted a moderate uptick in activity levels in the market, although investors are still not moving as quickly as they did two years ago [15] - The pipeline for fundraising has more than doubled over the past year, indicating strong future capital formation potential [10] Company Strategy and Development Direction - The company is focusing on customized impact solutions, leveraging its open architecture sourcing platform to broaden its funnel of impact investments [20][50] - There is a strong emphasis on maintaining a disciplined cost structure to grow margins, with a fee-related earnings margin of 37% [16] - The company aims to expand its individual investor efforts and bring more products to the individual investor channel [73] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued double-digit growth in private markets management fees and stabilization of absolute return strategies management fees [29] - The company anticipates significant growth potential in incentive fee revenues as M&A activity returns [56] - Management highlighted the importance of performance in driving inflows, particularly in the absolute return business [70] Other Important Information - The company has maintained a healthy quarterly dividend of $0.11 per share, with potential for further growth [28] - Non-GAAP general and administrative expenses declined to $17.5 million due to reduced costs [27] Q&A Session Summary Question: Did all expected funds have closes this quarter? - Management confirmed that some capital expected to close in Q3 was pushed to Q4, but they remain confident that second half fundraising will exceed the first half [62][63] Question: What is the outlook for the secondary market? - Management noted that while discounts remain wide, there is pent-up demand for transaction activity, which is expected to pick up next year [71] Question: How is the company addressing the retail fund vehicle? - Management acknowledged the growth in individual investor fundraising and expressed intentions to focus more on this channel in the future [73]

GCM GROSVENOR | 36 Fee-Paying Assets Under Management ("FPAUM" or "Fee-Paying AUM") is a key performance indicator we use to measure the assets from which we earn management fees. Our FPAUM comprises the assets in our customized separate accounts and specialized funds from which we derive management fees. We classify customized separate account revenue as management fees if the client is charged an asset-based fee, which includes the vast majority of our discretionary AUM accounts. The FPAUM for our private ...

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, 2023 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 ...

GCM Grosvenor Inc. (NASDAQ:GCMG) Q2 2023 Earnings Conference Call August 9, 2023 10:00 AM ET Company Participants Stacie Selinger – Head of Investor Relations Michael Sacks – Chairman and Chief Executive Officer Jon Levin – President Pam Bentley – Chief Financial Officer Conference Call Participants Ken Worthington – J.P. Morgan Michael Cyprys – Morgan Stanley Chris Kotowski – Oppenheimer and Company Operator Good day and welcome to the GCM Grosvenor Second Quarter 2023 Results Webcast. Later we will conduc ...

1-3. See Notes towards the end of the document. 14% CAGR $30.1 $34.8 $39.1 $40.1 Q2 21 Q2 22 Q2 23 Q2 21 Q2 22 Q2 23 $ million 35.2 36.0 2% $35.2 $36.0 President Chief Financial Officer Head of Investor Relations • 2023 Private Markets FPAUM increased 12% and Private Markets YTD management fees increased 8% over prior year | --- | --- | --- | --- | |---------------------------------------------------------------|-------|--------------------------------------------------|-------------------| | $ million \nGA ...

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, 2023 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. ...

2023 First Quarter Results Earnings Presentation Presenters Chairman and Chief Executive Officer 2 • First quarter 2023 fundraising of $940 million • GCM Grosvenor's Board of Directors approved a $0.11 per share dividend payable on June 15, 2023 to shareholders on record June 1, 2023 | --- | --- | --- | --- | --- | |--------------------------------------------------|----------------|-------|----------------|-------------------| | $ billion \nAUM $ 71.3 $ 75.3 5 % | March 31, 2022 | | March 31, 2023 | % Chan ...

Washington, D.C. 20549 __________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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 March 31, 2023 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-K __________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-39716 __________________________________ GCM Grosvenor Inc. (Exact Name of Registrant as Specifie ...