GCM Grosvenor Reports Strong Third Quarter 2021, With $3 Billion of Fundraising and 20% Year-Over-Year Growth in Assets Under Management, and Increases Dividend

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[{"type":"text","content":"CHICAGO, Nov. 10, 2021 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, today reported strong results for the third fiscal quarter ended September 30, 2021 and announced that the Board of Directors approved an 11% increase in the firm's quarterly dividend. “The third quarter was a strong one with good investment results, fundraising and business performance,” said Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor. “Our outlook with regard to the remainder of 2021 and 2022 is positive and as a result our Board of Directors has increased our dividend 11% from $0.09 per share to $0.10 per share.” Assets Under Management Assets Under Management increased 20% from September 30, 2020 (the “prior year”) and increased 5% from June 30, 2021 (the \"prior quarter\") to $70.5 billion as of September 30, 2021Fee-Paying Assets Under Management (“FPAUM”) increased 13% from the prior year and increased 3% from the prior quarter to $56.6 billion as of September 30, 2021Contracted Not Yet FPAUM increased 19% from the prior year and increased 13% from the prior quarter to $7.9 billion as of September 30, 2021 Revenue1 Revenue to GCM Grosvenor increased 16% from the quarter ended September 30, 2020 (\"prior year QTD\") to $118.1 million and increased 24% from the nine months ended September 30, 2020 (\"prior year YTD\") to $341.0 million Fee-Related Revenue Fee-Related Revenue increased 11% from prior year QTD to $86.6 million and increased 10% from prior year YTD to $254.2 million Net Income and Adjusted Net Income GAAP Net Income Attributable to GCM Grosvenor Inc. was $4.1 million and $7.3 million for the three and nine months ended September 30, 2021, respectivelyAdjusted Net Income increased 16% from prior year QTD to $23.8 million and increased 38% from prior year YTD to $62.0 million Fee-Related Earnings Fee-Related Earnings increased 21% from prior year QTD to $31.0 million and increased 22% from prior year YTD to $83.6 million Adjusted EBITDA Adjusted EBITDA increased 12% from the prior year QTD to $37.6 million and increased 24% from prior year YTD to $98.5 million Incentive Fees GCM Grosvenor's share of investments and unrealized carried interest totaled $410 million of Net Asset Value as of September 30, 2021, an increase of 125% over 3Q 20202Run-rate a...

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