GCM Grosvenor Reports Third Quarter 2024 Earnings Results, with Year-to-Date Fundraising Increasing 34%, and Year-to-Date GAAP Net Income, Fee-Related Earnings and Adjusted Net Income Increasing 16%, 18% and 24%, Respectively, Year-Over-Year

Rhea-AI Summary

GCM Grosvenor (Nasdaq: GCMG) announced its third quarter 2024 financial results, highlighting significant year-to-date growth across key metrics. The company reported a 34% increase in fundraising, while demonstrating strong financial performance with year-over-year increases in several key metrics: 16% in GAAP Net Income, 18% in Fee-Related Earnings, and 24% in Adjusted Net Income.

Positive

• 34% increase in year-to-date fundraising
• 16% year-over-year growth in GAAP Net Income
• 18% increase in Fee-Related Earnings
• 24% growth in Adjusted Net Income

Negative

• None.

Insights

Financial Analyst

Strong financial performance demonstrated across key metrics with 34% increase in year-to-date fundraising, signaling robust client confidence and market demand. The 18% growth in Fee-Related Earnings (FRE) is particularly noteworthy as it represents stable, recurring revenue streams. 16% increase in GAAP Net Income and 24% growth in Adjusted Net Income indicate effective cost management and operational efficiency.

The alternative asset management sector continues to attract capital despite market volatility and GCM Grosvenor's diversified platform appears well-positioned to capture this growth. The sustained improvement across multiple earnings metrics suggests strong execution of business strategy and potential for continued momentum in asset gathering and revenue generation.

CHICAGO, Nov. 08, 2024 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider, today reported its results for the third quarter 2024.

GCM Grosvenor issued a detailed presentation of its third quarter ending September 30, 2024 results to the Public Shareholders section of GCM Grosvenor’s website at https://www.gcmgrosvenor.com/shareholder-events.

Conference Call

A conference call to discuss GCM Grosvenor’s financial results will be held today, Friday, November 8, 2024, 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) 256-1007 (toll-free) or (929) 477-0448 and using the passcode 8009777.

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.

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 Q3 2024?

GCM Grosvenor reported a 34% increase in year-to-date fundraising for Q3 2024.

How much did GCM Grosvenor's (GCMG) Fee-Related Earnings grow in Q3 2024?

GCM Grosvenor's Fee-Related Earnings increased by 18% year-over-year in Q3 2024.

What was GCMG's GAAP Net Income growth for Q3 2024?

GCM Grosvenor's GAAP Net Income grew by 16% year-over-year in Q3 2024.