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GCM Grosvenor Has Strong Q3, Raises $1.3B for Real Estate Strategy
Chicago-based alternative asset manager GCM Grosvenor on Wednesday reported a strong third quarter, with $2.9 billion raised during Q3 and a 14% year-over-year increase in private fee-paying assets under management. AUM overall increased 3% Y-O-Y TO $72.6 billion as of Sept. 30.
“We had a good quarter in a tough environment led by strong fundraising and double-digit private markets revenue growth,” said Michael Sacks, chairman and CEO of GCM Grosvenor. “We have increased our dividend and share repurchase program and remain confident in the secular tailwinds supporting alternatives.”
Year to date, the company has raised $6.3 billion, of which $1.4 billion was raised for its real estate strategy. Real estate fundraising comprised the largest segment of the Q3 total at $1.3 billion, with private equity fundraising comprising another $1.2 billion and the remainder divided between infrastructure and absolute return strategies.
- ◦Financing
