Key people Michael Sacks Number of employees ~450 Founded 1971 | Founder Richard Elden AUM $45 billion+ Type Privately held company | |
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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.
The firm’s Public Markets solutions group provides hedge fund investment management and advisory services to clients worldwide. It is one of the world's top discretionary allocators to hedge funds with an estimated $26 billion in assets under management.
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. It is one of the largest private markets fund investment and co-investment managers globally, with approximately $22 billion in assets under management.
GCM Grosvenor's clients are mostly institutions, such as pension funds, sovereign wealth entities, banks, corporations, insurance companies, charitable organizations and endowments. The firm develops customized investment programs and also manages commingled investment products for its clients.
The firm is headquartered in Chicago and is owned in part by Hellman & Friedman, a leading private equity financial sponsor.
History
Grosvenor was founded in 1971 by Richard Elden and managed the first fund of hedge funds in the United States. In 1973, Elden brought on a partner, Frank Meyer, who had been a colleague at A.G. Becker. Elden left Grosvenor in 2006 to start Lakeview Investment Manager, which runs an activist fund of hedge funds, and Meyer retired from the business. Michael Sacks, who joined the firm in 1990, is the current chief executive officer of the company.
In January 2014, Grosvenor completed its acquisition of the Customized Fund Investment Group (CFIG) from Credit Suisse Group AG. CFIG was Credit Suisse's third-party private equity business, investing some $20 billion with outside private equity managers.