GCM Grosvenor

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GCM Grosvenor
Type Private company
Industry Investment management
Founded 1971
Founders Richard Elden
Headquarters 900 North Michigan
Chicago, Illinois, United States
Key people Michael Sacks
Products Hedge funds, private equity, infrastructure and real estate
AUM $44 billion
Employees ~ 375
Website GCMGrosvenor.com

GCM Grosvenor is one of the world's largest independent alternative asset management firms, with over $44 billion in assets under management and over 375 professionals.[1][2]

The firm’s Public Markets solutions group provides hedge fund investment management and advisory services to clients worldwide.[2] It is one of the world's top discretionary allocators to hedge funds with an estimated $24 billion in assets under management.[3]

The firm’s Private Markets solutions group invests client assets in primary fund investments, secondary fund investments and co-investments across the private equity, infrastructure and real estate sub-asset classes.[4] It is one of the largest private markets fund investment and co-investment managers globally, with approximately $20 billion in assets under management.[5]

GCM Grosvenor's clients are mostly institutions, such as pension funds, sovereign wealth entities, banks, corporations, insurance companies, charitable organizations and endowments.[6] The firm develops customized investment programs and also manages commingled investment products for its clients.[2]

The firm is headquartered in Chicago and is owned in part by Hellman & Friedman, a leading private equity financial sponsor.[7][8]

History[edit]

Grosvenor was founded in 1971 by Richard Elden and managed the first fund of hedge funds in the United States.[9] In 1973, Elden brought on a partner, Frank Meyer, who had been a colleague at A.G. Becker.[10] Elden left Grosvenor in 2006 to start Lakeview Investment Manager, which runs an activist fund of hedge funds, and Meyer retired from the business.[10][11][12] Michael Sacks, who joined the firm in 1990, is the current chief executive officer of the company.[13]

In January 2014, Grosvenor completed its acquisition of the Customized Fund Investment Group (CFIG) from Credit Suisse Group AG.[2] CFIG was Credit Suisse's third-party private equity business, investing some $20 billion with outside private equity managers.[14]

References[edit]

  1. ^ "GCM Grosvenor". Chicagoland Chamber of Commerce. Retrieved September 1, 2014. 
  2. ^ a b c d PRNewswire (January 2, 2014). "Grosvenor Capital Management Completes Acquisition of Customized Fund Investment Group from Credit Suisse Group AG". The Wall Street Journal. 
  3. ^ Jeff Benjamin (March 25, 2014). "As liquid-alt mutual funds proliferate, some question their value". Investment News. 
  4. ^ "GCM Customized Fund Investment Group". Private Equity International. Retrieved August 31, 1, 2014. 
  5. ^ "Company Overview of Grosvenor Capital Management L.P.". Bloomberg BusinessWeek. September 1, 2014. 
  6. ^ Jenny Strasburg and Cassell Bryan-Low (August 7, 2009). "Hedge Funds Rally as Cash Flows Back In". The Wall Street Journal. 
  7. ^ Lynne Marek (August 1, 2013). "Grosvenor to buy Credit Suisse private-equity unit". Crain's Chicago Business. 
  8. ^ DealBook (October 29, 2007). "Hellman to Take Stake in Grosvenor". The New York Times. 
  9. ^ "Richard Elden". University of Chicago. Retrieved August 30, 2014. 
  10. ^ a b Rittereiser, Cathleen M.; Kochard, Lawrence E. (2010). Top Hedge Fund Investors: Stories, Strategies, and Advice. John Wiley & Sons. p. 33. ISBN 9780470637142. Retrieved August 31, 2014. 
  11. ^ "Company Overview of Lakeview Investment Group, LLC". Bloomberg Businessweek. September 1, 2014. 
  12. ^ Anne Logue (November 24, 2008). "Sweet Home Chicago". Institutional Investor's Alpha. 
  13. ^ "Michael J. Sacks J.D.". Bloomberg Businessweek. September 1, 2014. 
  14. ^ "Grosvenor Closes Deal For Credit Suisse P.E. Biz". FINalternatives. January 8, 2014. 

External links[edit]