Who Owns GCM Grosvenor Company?

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Who Owns GCM Grosvenor?

GCM Grosvenor, a global alternative asset manager, became a publicly traded company in November 2020 following a merger with a SPAC. This strategic move enhanced its financial flexibility and liquidity, supporting investments in its core operations.

Founded in 1971, the firm pioneered the multi-manager investment approach, initially focusing on hedge funds. It later rebranded in 2018 to GCM Grosvenor, reflecting its expanded investment scope across various asset classes.

As of August 2025, GCM Grosvenor manages approximately $86 billion in assets. The firm employs around 550 professionals and serves a broad client base, including institutional investors and high-net-worth individuals. Understanding its ownership is key to grasping its market influence. A detailed GCM Grosvenor PESTEL Analysis can provide further context on the external factors affecting the company.

GCM Grosvenor was founded in 1971 by Richard Elden, who pioneered the fund of hedge funds concept in the United States. He was joined by Frank Meyer in 1973, and together they established the firm's early multi-manager investment strategy, initially serving individual investors and family offices.

Founding Vision The firm's initial focus was on building a track record in multi-strategy and single-strategy alternative portfolios. Early Leadership Richard Elden established the firm, and Frank Meyer joined him in 1973, strengthening the early management team. Private Operations For many decades, GCM Grosvenor operated as a privately held entity, allowing for a focused growth trajectory. Key Management Transition Michael Sacks joined in 1990 and became CEO in 1994, guiding the firm's expansion into a major alternative asset manager. Founder Departures Richard Elden left in 2005 to form Lakeview Investment Manager, and Frank Meyer later retired from the business. External Investment Hellman & Friedman held a minority stake from 2007, which was divested during the 2020 SPAC merger.

The firm's ownership structure evolved significantly over time, particularly with its transition to a publicly traded entity. Understanding the Competitors Landscape of GCM Grosvenor provides context for its market position.

Early Ownership Dynamics

While precise initial ownership percentages are not publicly detailed, the firm's private status for decades shaped its early GCM Grosvenor ownership structure.

• Founders Richard Elden and Frank Meyer established the firm's core investment philosophy.
• The company operated as a private entity for a substantial period.
• Michael Sacks' tenure as CEO marked a significant growth phase.
• External investment from Hellman & Friedman occurred prior to the public listing.

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The ownership structure of GCM Grosvenor experienced a significant shift in November 2020 when it transitioned to a publicly traded entity through a merger with CF Finance Acquisition Corp. (CFAC), a SPAC sponsored by Cantor Fitzgerald. This business combination, completed on November 17, 2020, resulted in the company trading on the Nasdaq Capital Market under the ticker 'GCMG', with an initial valuation of $2 billion.

Following the SPAC merger, the management team, led by Chairman and CEO Michael J. Sacks, maintained a controlling interest, holding over 78% of the combined company's equity. Cantor Fitzgerald and other institutional investors acquired the remaining shares. Hellman & Friedman, a previous minority investor since 2007, divested its stake during this transaction. As of August 2025, GCM Grosvenor manages approximately $86 billion in assets. Michael Sacks, through GCM V, LLC, holds significant influence, controlling about 75% of the common stock's voting power due to his ownership of all Class C common stock, enabling him to direct company policies and board elections. Major institutional investors are also key shareholders in the Class A common stock. The firm's strategic growth includes acquisitions such as the Customized Fund Investment Group (CFIG) from Credit Suisse in January 2014 and a $1 billion AUM investment management business acquired in January 2021, contributing to its expanded market presence and aligning with its Growth Strategy of GCM Grosvenor.

Key Stakeholders and Control

The GCM Grosvenor ownership is primarily concentrated with its management team, particularly its CEO, who wields significant voting power. Institutional investors also represent a substantial portion of the shareholder base.

• Michael J. Sacks and affiliated entities hold a majority of the voting power.
• Institutional investors are significant holders of Class A common stock.
• The company transitioned to public ownership via a SPAC merger in 2020.
• GCM Grosvenor's assets under management reached approximately $86 billion by August 2025.

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The Board of Directors at GCM Grosvenor is structured to include key executive leadership, representatives of significant shareholders, and independent members. As of the 2024 Annual Meeting of Stockholders, the board comprises individuals such as Michael J. Sacks, who holds the positions of Board Chairman and Chief Executive Officer, and Jonathan R. Levin, the firm's President. Stephen Malkin, a former senior executive, also contributes to the board's oversight.

GCM Grosvenor's voting power is significantly influenced by its dual-class share structure. Class A common stock carries one vote per share, while Class C common stock, as of the June 6, 2024, Annual Meeting, was entitled to 0.888865527 votes per share. Until a specified 'Sunset Date,' Class C stockholders are entitled to the lesser of 10 votes per share or the Class C Share Voting Amount. This structure means that GCM V, LLC, controlled by Michael Sacks, holds all Class C shares, granting it approximately 75% of the company's total voting power. This concentration of voting rights allows GCM V to designate all seven directors for election to the Board until the Sunset Date, underscoring a substantial level of control over corporate decisions.

Understanding GCM Grosvenor's Voting Power

The ownership structure of GCM Grosvenor, particularly its dual-class share system, centralizes significant voting power. This arrangement impacts how major corporate decisions are made and who ultimately influences the company's direction.

• Class A shares have one vote per share.
• Class C shares have a variable voting power, currently 0.888865527 votes per share.
• GCM V, LLC, controlled by Michael Sacks, holds all Class C shares.
• This gives GCM V approximately 75% of the total voting power.
• GCM V has the right to designate all board directors until the 'Sunset Date'.

The concentration of voting power with GCM V, LLC, controlled by Michael Sacks, means that GCM Grosvenor's GCM Grosvenor ownership is heavily influenced by a single entity. This control extends to critical areas such as director elections, charter amendments, and major transactions like mergers or asset sales. The ability of GCM V to designate all board members until the Sunset Date highlights a key aspect of the Marketing Strategy of GCM Grosvenor and its governance framework. While GCM Grosvenor is publicly traded, this ownership structure ensures that a significant portion of the voting power remains consolidated, impacting the dynamics for other GCM Grosvenor shareholders and potential GCM Grosvenor investors.

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Over the past few years, GCM Grosvenor has undergone significant transformations, notably its public debut in late 2020. This transition to a publicly traded entity has reshaped its ownership landscape and provided greater access to capital. Recent strategic moves indicate a focus on expanding its reach and enhancing financial performance.

The firm's financial trajectory shows consistent growth, with fundraising up significantly in the first half of 2025. This upward trend is mirrored in its assets under management, which grew from approximately $78.8 billion in March 2024 to around $86 billion by August 2025. GCM Grosvenor's management has set an ambitious target to double its Fee-Related Earnings to $280 million by 2028, underscoring a clear strategy for sustained profitability and expansion within the alternative asset management sector. This strategic direction aligns with broader industry efforts to engage a wider range of investors, as seen in their recent Target Market of GCM Grosvenor initiatives.

Financial Performance Highlights

Fundraising increased by 77% year-over-year in Q1 2025 and 52% in Q2 2025. GAAP Net Income, Fee-Related Earnings, and Adjusted Net Income saw substantial year-over-year increases in Q2 2025.

Assets Under Management Growth

Assets under management grew to approximately $86 billion by August 2025. This growth reflects continued expansion in the alternative asset management space.

Strategic Expansion Initiatives

A joint venture established in March 2025 aims to create a premier distribution platform for individual investors. This targets registered investment advisors and independent broker-dealers.

Future Growth Objectives

The firm aims to double its Fee-Related Earnings to $280 million by 2028. This strategic goal highlights a commitment to increasing profitability.

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