Business
GCM Grosvenor Reports Strong Fourth Quarter and Full Year 2021 with $9.4 billion of Capital Raised, 16% Growth in Assets Under Management and 24% Revenue Growth for the Year. Increases Stock Repurchase Plan by $20 million.
CHICAGO, Feb. 15, 2022 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, today reported
About this update from Gcm Grosvenor Inc.
[{"type":"text","content":"CHICAGO, Feb. 15, 2022 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, today reported strong results for the fourth fiscal quarter and full year ended December 31, 2021. “In 2021 we delivered on and exceeded the expectations we set for ourselves as a firm while delivering strong results for our clients,” said Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor. “Our strong outlook for 2022 and beyond reflects a continuation of this momentum.” Assets Under Management Assets Under Management increased 16% from December 31, 2020 (the “prior year”) and increased 2% from September 30, 2021 (the \"prior quarter\") to $72.1 billion as of December 31, 2021Fee-Paying Assets Under Management (“FPAUM”) increased 13% from the prior year and increased 4% from the prior quarter to $58.7 billion as of December 31, 2021Contracted Not Yet FPAUM increased 9% from the prior year and decreased 3% from the prior quarter to $7.7 billion as of December 31, 2021 Revenue1 Revenue to GCM Grosvenor increased 23% from the quarter ended December 31, 2020 (\"prior year QTD\") to $190.6 million and increased 24% from the year ended December 31, 2020 (the \"prior year\") to $531.6 million Fee-Related Revenue Fee-Related Revenue increased 17% from prior year QTD to $93.2 million and increased 12% from the prior year to $347.4 million Net Income and Adjusted Net Income GAAP Net Income Attributable to GCM Grosvenor Inc. was $14.2 million and $21.5 million for the three months and year ended December 31, 2021, respectivelyAdjusted Net Income increased 23% from prior year QTD to $56.8 million and increased 31% from the prior year to $118.8 million Fee-Related Earnings Fee-Related Earnings increased 37% from prior year QTD to $36.8 million and increased 27% from the prior year to $120.4 million Adjusted EBITDA Adjusted EBITDA increased 19% from the prior year QTD to $80.6 million and increased 22% from the prior year to $179.1 million Incentive Fees GCM Grosvenor's share of unrealized carried interest totaled $331 million of net asset value as of December 31, 2021, an increase of 149% over the prior year2Run-rate annual performance fees3 of $45 million as of December 31, 2021, an increase of $6 million or 15% from $39 million as of December 31, 2020 Dividend GCM Grosvenor's Board of...