GCM Grosvenor Inc. - GCMG STOCK NEWS

GCM Grosvenor (Nasdaq: GCMG) will announce its fourth quarter and full year 2021 results on February 15, 2022. Following the release, management will host a webcast and conference call at 10:00 a.m. ET to discuss the results and provide business updates. GCM Grosvenor manages approximately $70 billion in assets across various investment strategies, serving a global clientele of institutional and high-net-worth investors. Interested parties can access the call via the company's public shareholders webpage.

GCM Grosvenor (NASDAQ: GCMG) has acquired a majority ownership stake in ReSource Waste Services, the largest processor of construction and demolition material in New England. This strategic investment aims to enhance ReSource's growth in the greater Boston area. ReSource operates five facilities with a processing capacity of 1.3 million tons per year and focuses on recycling C&D waste into valuable products. The partnership is expected to leverage GCM Grosvenor's expertise to propel ReSource into a new growth phase, enhancing services across the region.

GCM Grosvenor (NASDAQ: GCMG) reported robust results for Q3 2021, with a 16% revenue increase to $118.1 million compared to Q3 2020. Assets Under Management (AUM) rose 20% year-over-year to $70.5 billion. The Board approved an 11% dividend increase from $0.09 to $0.10 per share, payable on December 15, 2021. Adjusted Net Income surged by 16% to $23.8 million, while Fee-Related Revenue also climbed by 11%. GCM Grosvenor's positive outlook for 2021 and 2022 reflects strong investment results and fundraising efforts.

GCM Grosvenor (Nasdaq: GCMG) has successfully closed a $500 million structured alternatives investment fund. This fund will target alternative strategies such as private equity, infrastructure, absolute return strategies, and alternative credit. The fundraising was spearheaded by GCM Grosvenor Insurance Solutions, which aims to deliver alternative investment solutions tailored for insurance companies globally. With approximately $67 billion in assets under management, GCM Grosvenor continues to expand its offerings to institutional and high net worth investors.

GCM Grosvenor (Nasdaq: GCMG) announced the appointment of Tom Hobson as Managing Director in GCM Grosvenor Insurance Solutions. He joins John Morrison, who was hired in June, to enhance the firm's investment capabilities for the insurance sector. Previously, Hobson served as Head of Insurance Solutions at Macquarie Group. This move aims to leverage his expertise to grow the insurance solutions offering, aligning with the firm's strategic objectives. GCM Grosvenor manages approximately $67 billion across diverse investment strategies.

GCM Grosvenor (Nasdaq: GCMG) will announce its Q3 2021 results on November 10, 2021. A conference call will follow at 10:00 a.m. ET to discuss the results and provide a business update. GCM Grosvenor is a leader in global alternative asset management with approximately $67 billion in assets under management across various strategies. With nearly 500 professionals, the firm serves a broad client base and celebrates its 50th year in the industry.

GCM Grosvenor (Nasdaq: GCMG) has announced the opening of a new office in Frankfurt, Germany, aimed at expanding its client base in central Europe, including Germany, Austria, Switzerland, and Luxembourg. The office will be led by Markus Koch, who brings over 20 years of experience from Prime Capital and UBS Investment Bank. This marks the firm's second office opening this year, following the establishment of a presence in Canada. GCM Grosvenor manages approximately $67 billion in assets across various investment strategies.

Horizon, a fiber-optic broadband provider in Ohio, has partnered with GCM Grosvenor (NASDAQ: GCMG) to acquire a significant ownership stake. This investment, part of GCM's Labor Impact Strategy, will enhance Horizon's growth strategy in providing fiber-based connectivity to businesses and residents. Over the last decade, Horizon has expanded its fiber network significantly across the Midwest and is set to launch multiple Fiber to the Home initiatives. This collaboration is anticipated to accelerate the company's market expansion and service offerings.

GCM Grosvenor reported robust financial growth for Q2 2021, with revenue increasing 33% to $119.7 million and Fee-Related Revenue rising 13% to $84.9 million year-over-year. GAAP Net Income was $0.7 million, while Fee-Related Earnings grew 9% to $27.5 million. Adjusted EBITDA rose 17% to $30.7 million. The company also announced a 12.5% dividend increase and a $25 million stock repurchase plan. Assets Under Management grew 18% to $66.9 billion, reaffirming guidance for continued revenue growth.