GCM Grosvenor Reports Fourth Quarter and Full Year 2024 Earnings Results, with 2024 Fundraising Increasing 41%, and Year-to-Date GAAP Net Income, Fee-Related Earnings and Adjusted Net Income Increasing 46%, 19% and 36%, Respectively, Year-Over-Year

Rhea-AI Summary

GCM Grosvenor (GCMG) announced its fourth quarter and full year 2024 results, highlighting significant growth across key metrics. The company reported a 41% increase in fundraising for 2024, along with substantial year-over-year improvements in various financial metrics, including a 46% increase in GAAP Net Income, 19% growth in Fee-Related Earnings, and a 36% rise in Adjusted Net Income.

The Board of Directors declared a quarterly dividend of $0.11 per share, payable on March 17, 2025, to shareholders of record on March 3, 2025. Additionally, the company announced a $50 million increase to its share repurchase authorization, bringing the total to $190 million from the previous $140 million.

Positive

• 41% increase in 2024 fundraising
• 46% increase in GAAP Net Income year-over-year
• 19% growth in Fee-Related Earnings
• 36% increase in Adjusted Net Income
• $50 million expansion of share repurchase program

Negative

• None.

Insights

Financial Analyst

GCM Grosvenor's exceptional 2024 performance stands out in the alternative asset management sector, where many peers struggled with fundraising challenges amid market volatility. The 41% surge in fundraising is particularly impressive, as it will drive sustainable revenue growth through management fees typically locked in for 7-10 years in alternative investments.

The company's financial metrics tell a compelling story: the 46% increase in GAAP Net Income, coupled with 19% growth in Fee-Related Earnings, indicates both operational efficiency and scaling benefits. Fee-Related Earnings growth is especially significant as it represents the most stable and predictable revenue stream in the alternative asset management business.

The expanded share repurchase authorization of $190 million represents approximately 31% of the company's market capitalization, demonstrating substantial conviction in the stock's value proposition. This aggressive capital return strategy, combined with the quarterly dividend of $0.11 per share, provides a robust floor for shareholder returns while maintaining flexibility for strategic investments.

Looking ahead, the strong fundraising momentum positions GCM Grosvenor to benefit from several secular trends in the alternatives space, including increased allocation to private markets by institutional investors and growing demand for specialized investment solutions. The company's diversified platform across private equity, real estate, infrastructure and absolute return strategies provides multiple growth vectors while reducing concentration risk.

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 March 3, 2025. In addition, in February 2025, GCM Grosvenor's Board of Directors increased the firm's existing share repurchase authorization by $50 million, from $140 million to $190 million.

Conference Call

A conference call to discuss GCM Grosvenor’s financial results will be held today, Monday, February 10, 2025, at 10:00 a.m. ET. The call will be accessible via public webcast from the Public Shareholders section of GCM Grosvenor’s website at https://www.gcmgrosvenor.com/shareholder-events, and a replay of the live broadcast will be available on the website soon after the call’s completion.

The call can also be accessed by dialing (888) 394-8218 (toll-free) or (646) 828-8193 and using the passcode 3333622.

About GCM Grosvenor

GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform.

GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.

Non-GAAP Financial Measures

Included in the results above, we report certain financial measures that are not required by, or presented in accordance with, GAAP. Management uses these non-GAAP measures to assess the performance of our business across reporting periods and believes this information is useful to investors for the same reasons. These non-GAAP measures should not be considered a substitute for the most directly comparable GAAP measures, which we reconcile within the detailed presentation discussed above. Further, these measures have limitations as analytical tools, and when assessing our operating performance, you should not consider these measurements in isolation or as a substitute for GAAP measures including net income (loss). We may calculate or present these non-GAAP financial measures differently than other companies who report measures with the same or similar names, and as a result, the non-GAAP measures we report may not be comparable.

Share Repurchase Plan Authorization

GCMG’s Board of Directors previously authorized a share repurchase plan, which may be used to repurchase outstanding Class A common stock and warrants in open market transactions, in privately negotiated transactions including with employees or otherwise, as well as to retire (by cash settlement or the payment of tax withholding amounts upon net settlement) equity-based awards granted under the Company’s Amended and Restated 2020 Incentive Award Plan (or any successor equity plan thereto). The Company is not obligated under the terms of plan to repurchase any of its Class A common stock or warrants, and the size and timing of these repurchases will depend on legal requirements, price, market and economic conditions and other factors. The plan has no expiration date and the plan may be suspended or terminated by the Company at any time without prior notice. Any outstanding shares of Class A common stock and any warrants repurchased as part of this plan will be cancelled. As of December 31, 2024, the total share repurchase plan authorization is $140.0 million. In February 2025, GCM Grosvenor's Board of Directors increased the firm's existing share repurchase authorization by $50.0 million, from $140.0 million to $190.0 million.

Public Shareholders Contact
Stacie Selinger
sselinger@gcmlp.com
312-506-6583

Media Contact
Tom Johnson and Abigail Ruck
H/Advisors Abernathy
tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global
212-371-5999

Source: GCM Grosvenor

FAQ

What was GCM Grosvenor's (GCMG) fundraising growth in 2024?

GCM Grosvenor reported a 41% increase in fundraising for 2024 compared to the previous year.

How much did GCMG increase its share repurchase authorization in February 2025?

In February 2025, GCMG increased its share repurchase authorization by $50 million, from $140 million to $190 million.

What is GCMG's dividend payment for Q4 2024?

GCMG approved a $0.11 per share dividend, payable on March 17, 2025, to shareholders of record on March 3, 2025.

What was GCMG's year-over-year growth in Fee-Related Earnings for 2024?

GCMG reported a 19% increase in Fee-Related Earnings year-over-year for 2024.

How much did GCMG's GAAP Net Income increase in 2024?

GCMG's GAAP Net Income increased by 46% year-over-year in 2024.