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GCM Grosvenor Will Become Public Company Following Merger
Chicago-based global alternative asset management firm GCM Grosvenor will become a public company through a merger with CF Finance Acquisition Corp. (CFAC), a special purpose acquisition company sponsored by Cantor Fitzgerald. The combined company will operate as GCM Grosvenor Inc. and expects to list its Class A common stock on the NASDAQ stock exchange.
GCM Grosvenor’s existing senior management team, led by chairman and CEO Michael J. Sacks, will continue to lead the business. The transaction values GCM Grosvenor at $2 billion.
Upon completion of the transaction, GCM Grosvenor management will own more than 70% of the equity interests of the combined company. Current CFAC stockholders, including Cantor Fitzgerald, and additional institutional investors will own the remaining outstanding shares of the combined company.
“We believe that becoming a publicly listed company will benefit our clients, our team members and all of our stakeholders,” said Sacks.
Pictured: GCM Grosvenor headquarters at 900 N. Michigan Ave.
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- ◦Financing
- ◦Sale/Acquisition
