GCM Grosvenor Reports Fourth Quarter and Full Year 2022 with Private Markets Management Fees Increasing 12% From 2021; Full Year Fundraising of $7.8 Billion and $1.5 billion Raised in Fourth Quarter; Firm Launches Sponsor Solutions with Elevate Strategy

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[{"type":"text","content":"CHICAGO, Feb. 14, 2023 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, today reported results for the fourth quarter and full year ended December 31, 2022. “Against a tough backdrop we are pleased to have added value for clients and shareholders.” said Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor. “Our private markets strategies continue to grow at solid rates and the opportunity set for our platform remains strong.” Assets Under Management Fee-Paying Assets Under Management (“FPAUM”) remained relatively flat from December 31, 2021 (the “prior year”) at $58.9 billion as of December 31, 2022 Private Markets FPAUM increased 11% from the prior year to $36.9 billion as of December 31, 2022Absolute Return Strategies FPAUM decreased 14% from the prior year to $22.0 billion as of December 31, 2022 Contracted Not Yet FPAUM decreased 1% from the prior year to $7.6 billion as of December 31, 2022Assets Under Management (\"AUM\") increased 2% from the prior year to $73.7 billion as of December 31, 2022 Revenue1 and Fee-Related Revenue Revenue decreased 16% from the year ended December 31, 2021 (the \"prior year\") to $446.5 million largely due to decreased incentive feesFee-Related Revenue increased 4% from the prior year to $360.5 million Private Markets Management Fees increased 12% from the prior year to $197.3 millionAbsolute Return Strategies Management Fees decreased 4% from the prior year to $159.1 million Net Income and Adjusted Net Income GAAP Net Income Attributable to GCM Grosvenor Inc. decreased 8% from the prior year to $19.8 million largely due to a decrease in incentive fees of 57% from the prior yearAdjusted Net Income decreased 21% from the prior year to $94.4 million largely due to a decrease in incentive fees of 57% from the prior year Fee-Related Earnings Fee-Related Earnings increased 7% from the prior year to $128.5 million Adjusted EBITDA Adjusted EBITDA decreased 17% from the prior year to $149.3 million, largely due to a decrease in incentive fees of 57% from the prior year Incentive Fees GCM Grosvenor's share of unrealized carried interest totaled $367.7 million of net asset value as of December 31, 2022, an increase of 11% over the prior yearRun-rate annual performance fees2 were $29.6 million as of December 31, 2022 Divid...

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