GCM Grosvenor Inc. is global alternative asset management solutions provider. The firm primarily provides its services to pooled investment vehicles. It also provides its services to investment companies, high net worth individuals, pension and profit sharing plans and state or municipal government entities. The firm invests in equity and alternative investment markets of the United States and internationally. The firm invests in multi-strategy, credit-focused, equity-focused, macro-focused, commodity-focused, and other specialty portfolios. It focuses on hedge fund asset classes, private equity, real estate, and/or infrastructure, credit and absolute return strategies. It also focuses on primary fund investments, secondary fund investments, and co-investments with a focus on buyout, distressed debt, early venture, mid venture, late venture, turnaround, mature, mezzanine, venture capital/growth equity investments. The firm seeks to do seed investments in small, emerging growth, and diverse private equity firms. The firm seeks to make regionally-focused investments in middle-market buyout. It prefers to invest in aerospace and defense, advanced electronics, information technology, biosciences, and advanced materials. It focuses on Europe, Michigan, North Carolina, Colorado, Idaho, Montana, Oregon and Washington. The firm employs fundamental and quantitative analysis. It prefers to have majority stakes in its portfolio companies. GCM Grosvenor Inc. was founded in 1971 and is based in Chicago, Illinois with additional offices across North America, Asia, Australia and Europe. GCM Grosvenor Inc. operates as a subsidiary of Grosvenor Capital Management Holdings, LLLP.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $566M | $182M | $45M | $175M | 35.6% | 8.0% | 142.7% |
| 2024 | $523M | $78M | $19M | $132M | -20.7% | 15.8% | 46.4% |
| 2023 | $452M | $5M | $13M | $88M | -11.5% | -0.1% | -35.5% |
| 2022 | $453M | $116M | $20M | $216M | -21.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 452.52 | 451.99 | 523.47 | 565.55 |
| Cost Of Revenue | 277.31 | 356.04 | 288.08 | 0 |
| Gross Profit | 175.21 | 95.94 | 235.40 | 0 |
| Operating Expense | 362.10 | 452.19 | 434.40 | 415.84 |
| Operating Income | 90.42 | -0.21 | 89.07 | 149.71 |
| EBITDA | 116.26 | 4.93 | 77.64 | 182.15 |
| EBIT | 112.41 | 2.23 | 74.32 | 177.73 |
| Pretax Income | 89.09 | -21.51 | 50.16 | 154.94 |
| Tax Provision | 9.61 | 7.69 | 13.56 | 12.90 |
| Net Income | 19.82 | 12.77 | 18.70 | 45.37 |
| Net Income Common Stockholders | 19.82 | 12.77 | 18.70 | 45.37 |
| Total Expenses | 362.10 | 452.19 | 434.40 | 415.84 |
| Interest Expense | 23.31 | 23.75 | 24.16 | 22.79 |
| Selling General And Administration | 366.22 | 456.85 | 440.53 | 424.11 |
| Normalized EBITDA | 95.71 | 3.50 | 93.72 | 160.42 |
| Normalized Income | 1.49 | 11.65 | 30.43 | 25.37 |
| Basic EPS | 0.45 | 0.30 | 0.42 | 0 |
| Diluted EPS | 0.28 | -0.28 | 0.03 | 0 |
| Tax Effect Of Unusual Items | 2.22 | 0.30 | -4.34 | 1.74 |
| Tax Rate For Calcs | 0.11 | 0.21 | 0.27 | 0.08 |
| Total Unusual Items | 20.55 | 1.43 | -16.08 | 21.74 |
| Total Unusual Items Excluding Goodwill | 20.55 | 1.43 | -16.08 | 21.74 |
| Net Income From Continuing Operation Net Minority Interest | 19.82 | 12.77 | 18.70 | 45.37 |
| Reconciled Depreciation | 3.86 | 2.70 | 3.32 | 4.42 |
| Reconciled Cost Of Revenue | 277.31 | 356.04 | 288.08 | 0 |
| Net Interest Income | -23.31 | -23.75 | -24.16 | -22.79 |
| Net Income From Continuing And Discontinued Operation | 19.82 | 12.77 | 18.70 | 45.37 |
| Total Operating Income As Reported | 80.31 | -11.85 | 73.48 | 133.45 |
| Diluted Average Shares | 188.60 | 187.43 | 190.60 | 0 |
| Basic Average Shares | 43.90 | 43.20 | 44.70 | 0 |
| Diluted NI Availto Com Stockholders | 53.03 | -53.04 | 6.54 | 82.20 |
| Average Dilution Earnings | 33.21 | -65.81 | -12.16 | 36.83 |
| Minority Interests | -59.66 | 41.98 | -17.91 | -96.67 |
| Net Income Including Noncontrolling Interests | 79.48 | -29.21 | 36.60 | 142.04 |
| Net Income Continuous Operations | 79.48 | -29.21 | 36.60 | 142.04 |
| Other Income Expense | 21.99 | 2.44 | -14.74 | 28.02 |
| Other Non Operating Income Expenses | 1.44 | 1.01 | 1.33 | 6.28 |
| Gain On Sale Of Security | 20.55 | 1.43 | -16.08 | 21.74 |
| Net Non Operating Interest Income Expense | -23.31 | -23.75 | -24.16 | -22.79 |
| Interest Expense Non Operating | 23.31 | 23.75 | 24.16 | 22.79 |
| Other Operating Expenses | -4.12 | -4.65 | -6.13 | -8.27 |
| General And Administrative Expense | 366.22 | 456.85 | 440.53 | 424.11 |
| Other Gand A | 88.91 | 100.80 | 104.30 | 104.78 |
| Salaries And Wages | 277.31 | 356.04 | 336.24 | 319.33 |
| Operating Revenue | 452.52 | 451.99 | 523.47 | 565.55 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| GCM Grosvenor Inc.this co. | GCMG | $637M | 25.52β premium | 24.09 | 35.6% | 7.26 |
| Alerus Financial Corporation | ALRS | $658M | 37.87 | 1.16 | 3.1% | - |
| Tiptree Inc. | TIPT | $648M | - | 1.27 | 4.6% | -19.70 |
| Better Home & Finance Holding Company | BETR | $644M | - | 16.83 | -446.1% | - |
| Community West Bancshares | CWBC | $640M |
| 10.93 |
| 1.08 |
| 9.3% |
| - |
| Shore Bancshares, Inc. | SHBI | $640M | 10.17 | 1.08 | 10.1% | - |
| Hingham Institution for Savings | HIFS | $620M | 11.47 | 1.29 | 11.4% | - |
| Third Coast Bancshares, Inc. | TCBX | $617M | 9.58 | 0.95 | 12.5% | - |
| Red River Bancshares, Inc. | RRBI | $614M | 14.63 | 1.68 | 11.7% | - |
| Peer Median | - | 11.20 | 1.21 | 9.7% | -19.70 | |