|Over a week ago|
GCM Grosvenor reports Q3 revenue $137.214M, consensus $103.46M » 08:0811/0911/09/22
Assets Under Management…
Assets Under Management increased 3% from September 30, 2021 and increased 2% from June 30, 2022 to $72.6 billion as of 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."
|Over a month ago|
GCM Grosvenor, ExchangeLodge expand technology partnership » 09:3311/0111/01/22
Exchangelodge announced an expansion of its strategic technology partnership with GCM Grosvenor. Exchangelodge is a Pittsburgh-based financial technology company focused on improving private markets data quality and streamlining data connectivity. Exchangelodge continues to transform how the private markets industry integrates and manages data. The Exchangelodge platform enables market leaders and innovators like GCM Grosvenor to bring their expertise and best practices to additional industry problems, like processing client Partners' Capital Account Statements and Notices. Exchangelodge packages the processes and validations in place of leaders and makes them available to the marketplace in a simple out-of-the-box solution.
GCM Grosvenor initiated with an Outperform at Credit Suisse » 16:2710/1810/18/22
Credit Suisse analyst…
Credit Suisse analyst Bill Katz initiated coverage of GCM Grosvenor with an Outperform rating and $9 price target. The analyst likes GCM's Solutions value proposition and sees a "number of favorable/ongoing business mix shifts." Moreover, company' s model is "quite durable," and its fee related earnings margin should further ramp up as the platform scales, Katz tells investors in a research note.
GCM Grosvenor management to meet virtually with Oppenheimer » 07:3210/0410/04/22
Virtual Meetings to be…
Virtual Meetings to be held October 3-4 hosted by Oppenheimer.
BofA starts GCM Grosvenor at Neutral with a $10 price target » 06:5409/0709/07/22
As previously reported,…
As previously reported, BofA analyst Samantha Platt initiated coverage of GCM Grosvenor with a Neutral rating and $10 price target. GCM has a high growth, high yield, capital lite model and while bullish on the growth from its private markets business and insurance opportunity, Platt is more cautious on the absolute return strategy, the analyst tells investors.
GCM Grosvenor initiated with a Neutral at BofA » 06:0409/0709/07/22
BofA analyst Samantha…
BofA analyst Samantha Platt initiated coverage of GCM Grosvenor with a Neutral rating and $10 price target.
|Over a quarter ago|
KKR invests in renewable energy developer Arevia Power » 16:4808/2208/22/22
KKR (KKR) has led a…
KKR (KKR) has led a significant structured investment in Arevia Power, a U.S. renewable energy developer, with strategic participation by GCM Grosvenor (GCMG). The investment aims to support the company's accelerated growth and development of new solar and wind projects throughout the U.S: Founded in 2015, Arevia is a solar and wind project developer that originates, permits, and manages renewable energy projects through their lifecycle. In tandem with the investment, Arevia has executed a Responsible Contractor Policy for its entire clean energy portfolio throughout the U.S. KKR is making its investment in Arevia from its managed insurance accounts. The investment from GCM Grosvenor will come from its infrastructure practice.
GCM Grosvenor reports Q2 revenue $104.36M vs $119.703M last year » 08:1108/0908/09/22
Assets Under Management…
Assets Under Management increased 6% from June 30, 2021 and remained consistent with March 31, 2022 at $71.2 billion as of 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."
Newlight, Long Ridge to build Aircarbon production facility in Ohio » 07:0807/1407/14/22
Newlight Technologies and…
Newlight Technologies and Long Ridge Energy Terminal, which is jointly owned by a subsidiary of Fortress Transportation and Infrastructure Investors (FTAI) and an affiliate managed by GCM Grosvenor (GCMG), announced that the parties and their related entities have entered into various agreements providing for the construction and operation of a new facility in Ohio, Aircarbon-Ohio, to produce Aircarbon, a naturally-occurring molecule called PHB that replaces plastic but is carbon-negative and biologically degrades in natural environments. Long Ridge and certain of its subsidiaries entered into certain agreements with Newlight, whereby Long Ridge will lease land and sell power and gas to Newlight. In addition, a subsidiary of FTAI has agreed to invest 25% of the project costs, or up to $75M, subject to certain conditions, to participate in the economic returns associated with the project. Through a separate agreement between Newlight and Pittsburgh-based CNX Resources Corp., CNX will gather and process captured methane from third party industrial activity that would typically be vented to atmosphere and deliver to Newlight the environmental rights associated with that methane, sourced locally from the Appalachian basin, to support production of Aircarbon at the Ohio facility, similar to how solar and wind is delivered contractually through new and existing grid infrastructure.
GCM Grosvenor, Blue Wolf acquire Hallcon, terms not disclosed » 07:0307/0507/05/22
GCM Grosvenor and Blue…
GCM Grosvenor and Blue Wolf Capital Partners announced that they have acquired Hallcon Corporation from Novacap. Terms of the transaction were not disclosed. The companies said, "Hallcon is the leading North American provider of mission-critical transportation services and infrastructure for a broad range of customers including railroads, universities, airports, hospitals and healthcare systems, public transit, technology and industrial companies, and other large employers seeking custom transportation solutions. In addition, the Company provides essential cleaning, disinfecting, and facilities maintenance services to municipal, regional, and national rail and transit providers throughout the United States and Canada. Headquartered in Chicago, Hallcon has a coast-to-coast North American footprint, with direct operations across 29 U.S. states and six Canadian provinces. With Blue Wolf and GCM Grosvenor's backing, the Company will be able to accelerate Hallcon's expansion into new North American markets including Seattle, WA, Austin, TX, Atlanta, GA, Washington, D.C. and more. The firms also intend to enhance the Company's ability to scale its electric vehicle charging infrastructure to continue supporting the evolving needs of its customers that are transitioning to electric fleets."