[Part I - Financial Information](index=4&type=section&id=Part%20I%20-%20Financial%20Information) This section presents the company's unaudited condensed consolidated financial statements, management's discussion and analysis, market risk disclosures, and internal controls [Item 1. Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) The unaudited financial statements for Q3 2023 detail the company's financial condition, operations, and cash flows, highlighting a Q3 net income increase despite a nine-month net loss driven by non-cash compensation [Condensed Consolidated Statements of Financial Condition](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Financial%20Condition) Total assets increased to **$504.7 million** as of September 30, 2023, from **$488.9 million**, with liabilities also rising, resulting in a slight increase in the total deficit Condensed Consolidated Statements of Financial Condition (in thousands) | | As of Sep 30, 2023 (Unaudited) | As of Dec 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $55,354 | $85,163 | | Investments | $239,883 | $223,970 | | Total assets | $504,721 | $488,933 | | **Liabilities and Equity (Deficit)** | | | | Debt | $385,451 | $387,627 | | Total liabilities | $598,409 | $582,939 | | Total deficit | $(93,688) | $(94,006) | | Total liabilities and equity (deficit) | $504,721 | $488,933 | [Condensed Consolidated Statements of Income (Loss)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Loss)) Q3 2023 net income increased to **$17.6 million**, but the nine-month period saw a net loss of **$33.8 million**, primarily due to higher employee compensation expenses Condensed Consolidated Statements of Income (Loss) (in thousands) | | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Total operating revenues | $121,714 | $137,214 | $328,443 | $346,702 | | Total operating expenses | $97,810 | $108,484 | $353,407 | $280,169 | | Operating income (loss) | $23,904 | $28,730 | $(24,964) | $66,533 | | Net income (loss) | $17,620 | $14,165 | $(33,778) | $68,075 | | Net income attributable to GCM Grosvenor Inc. | $5,898 | $3,099 | $9,516 | $15,430 | | Diluted EPS | $0.04 | $0.02 | $(0.28) | $0.23 | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations significantly decreased to **$65.4 million** for the nine months ended September 30, 2023, primarily due to lower net income, leading to an overall cash decrease Net Cash Flow Summary (in thousands) | | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $65,389 | $159,929 | | Net cash used in investing activities | $(13,031) | $(10,338) | | Net cash used in financing activities | $(80,947) | $(140,219) | | Net (decrease) increase in cash | $(29,809) | $5,390 | [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Detailed notes disclose significant accounting policies, revenue components, fair value, debt, equity compensation, and subsequent events, including incentive fees, stock repurchases, and dividends - **Incentive fees** for Q3 2023 were **$26.1 million**, down from **$45.5 million** in Q3 2022, primarily due to a decrease in carried interest from **$44.5 million** to **$25.4 million**[52](index=52&type=chunk) - On August 8, 2023, the Board of Directors increased the stock repurchase authorization by **$25 million**, from **$90 million** to **$115 million**, with **$40.2 million** remaining available as of September 30, 2023[73](index=73&type=chunk)[74](index=74&type=chunk) - Partnership interest-based compensation for the nine months ended September 30, 2023, significantly increased to **$89.2 million** from **$21.5 million**, representing a non-cash charge offset by a deemed equity contribution[83](index=83&type=chunk) - A new 16.3-year lease for the New York office was executed in June 2023, with total future lease payments projected at **$65.7 million**[124](index=124&type=chunk) - A quarterly dividend of **$0.11 per share** of Class A common stock was declared on November 7, 2023, payable on December 15, 2023[152](index=152&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, noting increased Q3 management fees offset by lower carried interest, a nine-month net loss due to higher non-cash compensation, and growth in Fee-Paying AUM to **$61.0 billion** [Results of Operations](index=40&type=section&id=Results%20of%20Operations) Total operating revenues decreased in Q3 2023 to **$121.7 million** and slightly for the nine-month period, while operating expenses significantly increased to **$353.4 million**, primarily due to higher partnership interest-based compensation Revenue and Expense Comparison (in thousands) | | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Management fees | $94,573 | $90,715 | $280,382 | $275,655 | | Incentive fees | $26,073 | $45,467 | $44,884 | $67,964 | | **Total operating revenues** | **$121,714** | **$137,214** | **$328,443** | **$346,702** | | Employee compensation and benefits | $76,413 | $86,502 | $277,505 | $213,836 | | General, administrative and other | $21,397 | $21,982 | $75,902 | $66,333 | | **Total operating expenses** | **$97,810** | **$108,484** | **$353,407** | **$280,169** | - Employee compensation for the nine months ended September 30, 2023, increased primarily due to a **$67.7 million** rise in partnership interest-based compensation from new awards and amortization[203](index=203&type=chunk) [Fee-Paying AUM (FPAUM)](index=43&type=section&id=Fee-Paying%20AUM) Fee-Paying AUM (FPAUM) increased by **$2.1 billion** to **$61.0 billion** during the first nine months of 2023, driven by contributions and market appreciation, with **$7.1 billion** in Contracted, not yet Fee-Paying AUM (CNYFPAUM) FPAUM Roll-Forward for Nine Months Ended Sep 30, 2023 (in millions) | | Private Markets Strategies | Absolute Return Strategies | Total FPAUM | | :--- | :--- | :--- | :--- | | Balance, beginning of period | $36,876 | $21,980 | $58,856 | | Contributions | $3,614 | $316 | $3,930 | | Withdrawals | $(68) | $(1,714) | $(1,782) | | Distributions | $(752) | $(58) | $(810) | | Change in market value | $163 | $1,048 | $1,211 | | **Balance, end of period** | **$39,554** | **$21,414** | **$60,968** | - As of September 30, 2023, the company held **$7.1 billion** in Contracted, not yet Fee-Paying AUM (CNYFPAUM)[220](index=220&type=chunk) [Non-GAAP Financial Measures](index=45&type=section&id=Non-GAAP%20Financial%20Measures) Key non-GAAP metrics for Q3 2023 include Fee-Related Earnings (FRE) of **$36.4 million**, Adjusted EBITDA of **$43.6 million**, and Adjusted Net Income per Share of **$0.15**, all showing year-over-year increases Key Non-GAAP Financial Measures (in thousands, except per share) | | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Fee-Related Earnings (FRE) | $36,437 | $31,367 | $99,610 | $95,637 | | Adjusted EBITDA | $43,560 | $41,367 | $112,456 | $113,769 | | Adjusted Net Income | $28,427 | $26,567 | $70,769 | $72,420 | | Adjusted Net Income Per Share | $0.15 | $0.14 | $0.38 | $0.38 | [Liquidity and Capital Resources](index=50&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2023, the company maintained **$55.4 million** in cash and **$50.0 million** in available borrowing capacity, with an increased stock repurchase authorization and a declared quarterly dividend - As of September 30, 2023, the company held **$55.4 million** in cash and cash equivalents and **$50.0 million** in available borrowing capacity[250](index=250&type=chunk) - On August 8, 2023, the Board of Directors increased the share repurchase authorization by **$25 million** to a total of **$115 million**[265](index=265&type=chunk) - A quarterly dividend of **$0.11 per share** of Class A common stock was declared on November 7, 2023[263](index=263&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes occurred in the company's market risk exposures, including price, interest-rate, financing, liquidity, counterparty, and foreign exchange-rate risks, during the nine months ended September 30, 2023 - No material changes in the company's market risks occurred during the nine months ended September 30, 2023[277](index=277&type=chunk) [Item 4. Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting during Q3 2023 - The principal executive and financial officers concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[279](index=279&type=chunk) - No material changes to internal control over financial reporting occurred during Q3 2023[280](index=280&type=chunk) [Part II - Other Information](index=47&type=section&id=Part%20II%20-%20Other%20Information) This section provides disclosures on legal proceedings, risk factors, equity security sales, and other relevant information [Item 1. Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various lawsuits but does not anticipate any current litigation will materially affect its financial statements - Management does not believe any current litigation will materially affect the Company's Condensed Consolidated Financial Statements[282](index=282&type=chunk) [Item 1A. Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors have occurred since the Annual Report on Form 10-K for the fiscal year ended December 31, 2022 - No material changes to risk factors have occurred since the fiscal year ended December 31, 2022[284](index=284&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=48&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company did not repurchase shares in the open market during Q3 2023 but is deemed to have repurchased **804,046 shares** for **$6.4 million** for RSU tax liabilities, with the repurchase authorization increased to **$115 million** - On August 8, 2023, the Board of Directors increased the share repurchase authorization by **$25 million**, from **$90 million** to **$115 million**[288](index=288&type=chunk) - The company is deemed to have repurchased **804,046 shares** of Class A common stock equivalents for **$6.4 million** during Q3 2023 for vested RSU tax payments[287](index=287&type=chunk) [Item 5. Other Information](index=48&type=section&id=Item%205.%20Other%20Information) On September 15, 2023, CFO Pamela Bentley adopted a Rule 10b5-1 trading plan for the sale of up to **125,000 shares** of Class A common stock - CFO Pamela Bentley adopted a Rule 10b5-1(c) trading plan on September 15, 2023, for the sale of up to **125,000 shares** of Class A common stock, expiring by March 15, 2024[292](index=292&type=chunk)

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. ...

Financial Performance - GCM Grosvenor's Q1 2023 fundraising reached $940 million[4] - Private Markets FPAUM increased by 12% compared to Q1 2022[4] - Private Markets management fees increased by 11% year-over-year[16] - GCM Grosvenor repurchased $22.7 million of Class A common stock during Q1 2023[16] - GAAP Revenue decreased by 6% from $105.1 million to $99.1 million[17] - Absolute Return Strategies Management Fees decreased by 13%[17] - Adjusted EBITDA decreased by 12% from $37.2 million to $32.9 million[17] - Adjusted Net Income decreased by 17% from $23.8 million to $19.6 million[17] Assets Under Management (AUM) - Total AUM increased by 5% from $71.3 billion to $75.3 billion compared to Q1 2022[4] - Private Markets FPAUM increased by 12% from $33.8 billion to $38.0 billion[4] - Absolute Return Strategies FPAUM decreased by 9% from $24.0 billion to $21.8 billion[4]

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 ...

Grosvenor Capital Management, L.P. (NASDAQ:GCMG) Q4 2022 Earnings Conference Call February 14, 2023 10:00 AM ET Company Participants Stacie Selinger - Head IR Michael Sacks - Chairman and Chief Executive Officer Jonathan Levin - President Pamela Bentley - Chief Financial Officer Conference Call Participants Chris Kotowski - Oppenheimer Jeff Schmitt - William Blair Ken Worthington - JPMorgan Adam Beatty - UBS Michael Cyprys - Morgan Stanley Operator Good day, and welcome to the GCM Grosvenor Fourth Quarter a ...

2022 Third Quarter Results Earnings Presentation GCM GROSVENOR Presenters | --- | --- | --- | --- | --- | --- | --- | --- | |---------------|-------|----------------|-------|----------------|-------|-------|-----------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Michael Sacks | | Jonathan Levin | | Pamela Bentley | | | Stacie Selinger | Chairman and Chief Executive Officer President Chief Financial Officer Head of Investor Relations 2 Third Quarter 2022 Results • Third q ...

Grosvenor Capital Management, L.P. (NASDAQ:GCMG) Q3 2022 Earnings Conference Call November 9, 2022 10:00 AM ET Company Participants Stacie Selinger - Head IR Michael Sacks - Chairman and Chief Executive Officer Jonathan Levin - President Pamela Bentley - Chief Financial Officer Conference Call Participants William Katz - Credit Suisse Samantha Platt - Bank of America Kenneth Worthington - JPMorgan Christoph Kotowski - Oppenheimer Michael Cyprys - Morgan Stanley Operator Good day, and welcome to the GCM Gros ...