Business
GCM Grosvenor Reports Strong Second Quarter 2021, Increases Dividend and Approves a Stock Repurchase Plan
Revenue to GCM Grosvenor increased 33% to $119.7 million and Fee-Related Revenue increased 13% to $84.9 million from the three months ended June 30, 2020
About this update from Gcm Grosvenor Inc.
[{"type":"text","content":"Revenue to GCM Grosvenor increased 33% to $119.7 million and Fee-Related Revenue increased 13% to $84.9 million from the three months ended June 30, 2020 (\"prior year QTD\") GAAP Net Income attributable to GCM Grosvenor was $0.7 million for quarter ended June 30, 2021 Fee-Related Earnings increased 9% to $27.5 million from the prior year QTD Adjusted EBITDA increased 17% to $30.7 million from the prior year QTD Investments and Carried Interest at NAV increased 121% from June 30, 2020 to $349 million as of June 30, 20211 CHICAGO, Aug. 10, 2021 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, today reported strong results for the second fiscal quarter ended June 30, 2021 and reaffirmed its prior full year 2021 guidance of Fee-Related Revenue growth of 12-15% compared to fiscal year 2020 and Fee-Related Earnings growth of 15-20% as compared to fiscal year 2020. “We are pleased to report another strong quarter of performance across the board and remain confident with regard to our growth targets for the remainder of the year,” said Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor. “In light of our performance and momentum, our Board of Directors approved increasing our quarterly dividend by 12.5% and a stock repurchase plan that allows for the repurchase of up to $25 million of our Class A common stock and warrants.” Assets Under Management Assets Under Management increased 18% from June 30, 2020 (the “prior year”) and increased 3% from March 31, 2021 (the \"prior quarter\") to $66.9 billion as of June 30, 2021Fee-Paying Assets Under Management (“FPAUM”) increased 11% from the prior year and increased 3% from the prior quarter to $55.0 billion as of June 30, 2021Contracted Not Yet FPAUM increased 26% from the prior year and decreased 6% from the prior quarter to $7.0 billion as of June 30, 2021 Revenue2 Revenue to GCM Grosvenor increased 33% from the prior year QTD to $119.7 million and increased 29% from the six months ended June 30, 2020 (\"prior year YTD\") to $222.9 million Fee-Related Revenue Fee-Related Revenue increased 13% from prior year QTD to $84.9 million and increased 10% from prior year YTD to $167.6 million Net Income and Adjusted Net Income GAAP Net Income Attributable to GCM Grosvenor Inc. was $0.7 million and $3.2 million for th...