GCM Grosvenor

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GCM Grosvenor
Company typePrivate company
IndustryInvestment management
Founded1971
FounderRichard Elden
Headquarters900 North Michigan
Chicago, Illinois, United States
Key people
Michael Sacks
ProductsHedge funds, private equity, infrastructure and real estate
AUM$45 billion+
Number of employees
~450
Websitewww.gcmgrosvenor.com

GCM Grosvenor is one of the world's largest independent alternative asset management firms, with over $45 billion in assets under management and over 450 professionals.[1][2][3]

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 $26 billion in assets under management.[4]

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.[5] It is one of the largest private markets fund investment and co-investment managers globally, with approximately $22 billion in assets under management.[6]

GCM Grosvenor's clients are mostly institutions, such as pension funds, sovereign wealth entities, banks, corporations, insurance companies, charitable organizations and endowments.[7] 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.[8][9]

History

GCM Grosvenor was founded in 1971 by Richard Elden and managed the first fund of hedge funds in the United States.[10] In 1973, Elden brought on a partner, Frank Meyer, who had been a colleague at A.G. Becker.[11] Elden left GCM Grosvenor in 2006 to start Lakeview Investment Manager, which runs an activist fund of hedge funds, and Meyer retired from the business.[11][12][13] Michael Sacks, who joined the firm in 1990, is the current chief executive officer of the company.[14]

In January 2014, GCM 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.[15]

References

  1. ^ "GCM Grosvenor". Chicagoland Chamber of Commerce. Retrieved September 1, 2014.[permanent dead link]
  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. ^ "GCM Grosvenor". GCM Grosvenor. Retrieved 2016-05-06.
  4. ^ Jeff Benjamin (March 25, 2014). "As liquid-alt mutual funds proliferate, some question their value". Investment News.
  5. ^ "GCM Customized Fund Investment Group". Private Equity International. Retrieved August 31, 2014.
  6. ^ "Company Overview of Grosvenor Capital Management L.P." Bloomberg BusinessWeek. September 1, 2014.
  7. ^ Jenny Strasburg and Cassell Bryan-Low (August 7, 2009). "Hedge Funds Rally as Cash Flows Back In". The Wall Street Journal.
  8. ^ Lynne Marek (August 1, 2013). "GCM Grosvenor to buy Credit Suisse private-equity unit". Crain's Chicago Business.
  9. ^ DealBook (October 29, 2007). "Hellman to Take Stake in Grosvenor". The New York Times.
  10. ^ "Richard Elden". University of Chicago. Archived from the original on January 27, 2013. Retrieved August 30, 2014. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  11. ^ 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.
  12. ^ "Company Overview of Lakeview Investment Group, LLC". Bloomberg Businessweek. September 1, 2014.
  13. ^ Anne Logue (November 24, 2008). "Sweet Home Chicago". Institutional Investor's Alpha.
  14. ^ "Michael J. Sacks J.D." Bloomberg Businessweek. September 1, 2014.
  15. ^ "GCM Grosvenor Closes Deal For Credit Suisse P.E. Biz". FINalternatives. January 8, 2014.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=GCM_Grosvenor&oldid=824831273"