GCM Grosvenor (NASDAQ: GCMG) has reported its third-quarter 2024 earnings results, revealing a 34% increase in year-to-date fundraising. The company's GAAP net income, fee-related earnings, and adjusted net income have all shown significant growth, with year-over-year increases of 16%, 18%, and 24% respectively.
The firm, which manages approximately $80 billion in assets across various investment strategies, including private equity, infrastructure, real estate, credit, and absolute return, has seen a substantial rise in its financial metrics compared to the previous period.
GCM Grosvenor's dedication to delivering value for its clients is reflected in its experienced team of approximately 550 professionals, serving a global client base of institutional and individual investors.
The company has also announced a conference call to discuss its financial results, scheduled for Friday, November 8, 2024, at 10:00 a.m. ET. The call will be accessible via public webcast and will provide an opportunity for investors and stakeholders to gain further insights into the firm's performance.
GCM Grosvenor's third-quarter earnings results reflect its continued growth and positive momentum, positioning the firm as a significant player in the global alternative asset management industry. The market has reacted to these announcements by moving the company's shares -2.3% to a price of $11.86. Check out the company's full 8-K submission here.
