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GCM Grosvenor Reports Third Quarter 2022, With $2.9 Billion Raised in the Quarter and a 14% Increase in Private Markets Fee-Paying AUM From Third Quarter 2021. Firm Increases Dividend to $0.11 Per Share and Increases Share Repurchase Authorization by ...
GCM Grosvenor Reports Third Quarter 2022, With $2.9 Billion Raised in the Quarter and a 14% Increase in Private Markets Fee-Paying AUM From Third Quarter
About this update from Gcm Grosvenor Inc.
[{"type":"text","content":"GCM Grosvenor Reports Third Quarter 2022, With $2.9 Billion Raised in the Quarter and a 14% Increase in Private Markets Fee-Paying AUM From Third Quarter 2021. Firm Increases Dividend to $0.11 Per Share and Increases Share Repurchase Authorization by $25 million to $90 million \n CHICAGO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, today reported results for the third quarter ended September 30, 2022. “We had a good quarter in a tough environment led by strong fundraising and double digit private markets revenue growth,” said Michael Sacks, Chairman and Chief Executive Officer of GCM Grosvenor. “We have increased our dividend and share repurchase program and remain confident in the secular tailwinds supporting alternatives.” Assets Under Management Assets Under Management (\"AUM\") increased 3% from September 30, 2021 (the “prior year”) and increased 2% from June 30, 2022 (the \"prior quarter\") to $72.6 billion as of September 30, 2022Fee-Paying Assets Under Management (“FPAUM”) increased 3% from the prior year and increased 1% from the prior quarter to $58.1 billion as of September 30, 2022 Private Markets FPAUM increased 14% from the prior year and increased 2% from the prior quarter to $35.5 billion as of September 30, 2022Absolute Return Strategies FPAUM decreased 12% from the prior year and decreased 1% from the prior quarter to $22.6 billion as of September 30, 2022 Contracted Not Yet FPAUM increased 2% from the prior year and increased 21% from the prior quarter to $8.0 billion as of September 30, 2022 Revenue1 and Fee-Related Revenue Revenue increased 16% from the quarter ended September 30, 2021 (\"prior year QTD\") to $137.2 million and increased 2% from the nine months ended September 30, 2021 (\"prior year YTD\") to $346.7 millionFee-Related Revenue increased 2% from prior year QTD to $88.6 million and increased 7% from prior year YTD to $270.8 million Private Markets Management Fees increased 13% from prior year QTD to $49.3 million and increased 16% from prior year YTD to $146.6 millionAbsolute Return Strategies Management Fees decreased 9% from prior year QTD to $38.3 million and decreased 1% from prior year YTD to $121.1 million Net Income and Adjusted Net Income GAAP Net Income Attributable to GCM Grosvenor Inc. decreased 24% ...