GCM Grosvenor (NASDAQ: GCMG) has reported its fourth-quarter and full-year 2024 earnings results, showing a significant increase in fundraising and various financial metrics compared to the previous year.
- Fundraising for 2024 increased by 41% compared to the previous period.
- Year-to-date GAAP net income saw a substantial 46% increase.
- Fee-related earnings also showed a notable increase, rising by 19% year-over-year.
- Adjusted net income for the year increased by 36% compared to the previous period.
Additionally, the company's board of directors approved a dividend of $0.11 per share, payable on March 17, 2025, to shareholders on record as of March 3, 2025. Furthermore, the board increased the firm's share repurchase authorization by $50 million, from $140 million to $190 million in February 2025.
GCM Grosvenor is a global alternative asset management solutions provider with approximately $80 billion in assets under management across various investment strategies. The firm has specialized in alternatives for over 50 years and serves a global client base of institutional and individual investors.
A conference call to discuss the financial results is scheduled for February 10, 2025, at 10:00 a.m. ET, and will be accessible via webcast or by dialing in using the provided passcode. The market has reacted to these announcements by moving the company's shares 2.7% to a price of $13.93. Check out the company's full 8-K submission here.
