Record Fundraising Achievement
GCM Grosvenor raised $2.9 billion in the first quarter, marking the highest quarterly fundraising level in over two years and the second-highest since going public. Approximately $1.3 billion was raised for the Infrastructure Advantage Fund II, nearly 50% larger than its predecessor.
Strong Financial Performance
First quarter fee-related revenue grew 12% year-over-year, fee-related earnings grew 22%, adjusted EBITDA grew 26%, and adjusted net income grew 30% year-over-year.
Growth in Absolute Return Strategies
Raised $1.6 billion for Absolute Return Strategies since the start of 2024, with a strong pipeline ahead. The multi-strategy composite generated a 10.6% annualized gross return over the last two years, outperforming industry benchmarks.
Strategic Initiatives
Announced a joint venture called Grove Lane targeting the RIA distribution in the U.S. and a strategic partnership in Japan, which aims to raise at least $1.5 billion by 2030.
Increased AUM and Fee-Paying AUM
Assets under management grew to $82 billion, and fee-paying AUM grew to $66 billion. Contracted not yet fee-paying AUM grew 16% year-over-year to $8.2 billion.