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GCM Grosvenor Reports Strong Second Quarter 2022 Led by Private Markets Strategies. Private Markets Management Fees Increased 19% Over Second Quarter 2021. Private Markets Reached 67% of Firm Assets Under Management. Mix Shift to Secondaries, Co-Inves...
GCM Grosvenor Reports Strong Second Quarter 2022 Led by Private Markets Strategies. Private Markets Management Fees Increased 19% Over Second Quarter 2021.
About this update from Gcm Grosvenor Inc.
[{"type":"text","content":"GCM Grosvenor Reports Strong Second Quarter 2022 Led by Private Markets Strategies. Private Markets Management Fees Increased 19% Over Second Quarter 2021. Private Markets Reached 67% of Firm Assets Under Management. Mix Shift to Secondaries, Co-Investments and Direct Investments Continues. \n CHICAGO, Aug. 09, 2022 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, today reported strong results for the second quarter ended June 30, 2022. “We are pleased with business performance in such a challenging quarter for investors,” said Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor. “The strong growth of our Private Markets strategies combined with our mix shift toward secondary, co-investment and direct investment activities continues to create significant value for clients and shareholders.” Assets Under Management Assets Under Management (\"AUM\") increased 6% from June 30, 2021 (the “prior year”) and remained consistent with March 31, 2022 (the \"prior quarter\") at $71.2 billion as of June 30, 2022Fee-Paying Assets Under Management (“FPAUM”) increased 4% from the prior year and decreased 1% from the prior quarter to $57.5 billion as of June 30, 2022 Private Markets FPAUM increased 16% from the prior year and increased 3% from the prior quarter to $34.8 billion as of June 30, 2022Absolute Return Strategies FPAUM decreased 9% from the prior year and decreased 6% from the prior quarter to $22.7 billion as of June 30, 2022 Contracted Not Yet FPAUM decreased 5% from the prior year and increased 2% from the prior quarter to $6.7 billion as of June 30, 2022 Revenue1 and Fee-Related Revenue Revenue decreased 13% from the quarter ended June 30, 2021 (\"prior year QTD\") to $104.4 million and decreased 6% from the six months ended June 30, 2021 (\"prior year YTD\") to $209.5 millionFee-Related Revenue increased 8% from prior year QTD to $91.5 million and increased 9% from prior year YTD to $182.1 million Private Markets Management Fees increased 19% from prior year QTD to $50.4 million and increased 18% from prior year YTD to $97.2 millionAbsolute Return Strategies Management Fees decreased 1% from prior year QTD to $40.1 million and increased 3% from prior year YTD to $82.8 million Net Income and Adjusted Net Income GAAP Net Income Attributable to GCM G...