GCM Grosvenor Announces Hiring of John Morrison and Creation of GCM Grosvenor Insurance Solutions

Rhea-AI Summary

On June 28, 2021, GCM Grosvenor (Nasdaq: GCMG) announced the formation of GCM Grosvenor Insurance Solutions to deliver alternative investment solutions tailored for insurance companies worldwide. John Morrison, with over 20 years of experience in financial services, will lead this new division. GCM Grosvenor, a leading global alternative asset management provider with approximately $65 billion in assets under management, aims to leverage its expertise to meet the unique needs of insurance capital.

Positive

• Formation of GCM Grosvenor Insurance Solutions targeting insurance companies.
• John Morrison's appointment as head brings significant industry experience.

Negative

• Dependence on market conditions and risks associated with alternative investments.

CHICAGO, June 28, 2021 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, announced today that it will form GCM Grosvenor Insurance Solutions to provide alternative investment solutions to insurance company balance sheets globally.

In addition, the firm announced that John Morrison will join to become head of GCM Grosvenor Insurance Solutions. John brings over 20 years of experience in financial services and as a strategic advisor to insurance clients, most recently as a Managing Director at Kohlberg Kravis Roberts & Co. where he was co-head of KKR’s insurance company business development and solutions efforts. Previously, he was a Vice President in Insurance Asset Management with Pacific Investment Management Company (PIMCO).

“We believe we can provide significant value by tailoring our expertise across the alternatives spectrum to meet the unique needs of insurance capital,” said Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor. “We are excited for John’s deep experience and leadership to help us best serve insurers.”

About GCM Grosvenor

GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $65 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm is in its 50th year of operation and is dedicated to delivering value for clients in the growing alternative investment asset classes.

GCM Grosvenor’s experienced team of approximately 500 professionals serves a global client base of institutional and high net worth investors. The firm is headquartered in Chicago, with offices in New York, Los Angeles, Toronto, London, Tokyo, Hong Kong, and Seoul. For more information, please visit: www.gcmgrosvenor.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including without limitation, the historical performance of GCM Grosvenor's funds may not be indicative of GCM Grosvenor's future results; risks related to redemptions and termination of engagements; effect of the COVID-19 pandemic on GCM Grosvenor's business; the variable nature of GCM Grosvenor's revenues; competition in GCM Grosvenor's industry; effects of government regulation or compliance failures; market, geopolitical and economic conditions; identification and availability of suitable investment opportunities; risks relating to our internal control over financial reporting; and risks related to the performance of GCM Grosvenor's investments. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” sections of the Annual Report on Form 10-K/A filed by GCM Grosvenor Inc. on May 10, 2021 and its other filings with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and GCM Grosvenor assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Source: GCM Grosvenor

Media Contact
Tom Johnson and Will Braun
Abernathy MacGregor
tbj@abmac.com / whb@abmac.com
212-371-5999

FAQ

What is GCM Grosvenor Insurance Solutions?

GCM Grosvenor Insurance Solutions is a new division created by GCM Grosvenor to provide tailored alternative investment solutions for insurance companies.

Who is leading GCM Grosvenor Insurance Solutions?

John Morrison, who has over 20 years of experience in financial services, will lead GCM Grosvenor Insurance Solutions.

What is GCM Grosvenor's asset management size?

GCM Grosvenor manages approximately $65 billion in assets across various investment strategies.

When was GCM Grosvenor's new division announced?

The announcement of GCM Grosvenor Insurance Solutions was made on June 28, 2021.

What risks are associated with GCM Grosvenor's new venture?

The venture carries risks related to market conditions, competition, and the variable nature of revenues from alternative investments.