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GCM Grosvenor Announces Final Close of Inaugural Elevate Fund with Nearly $800 Million Committed Capital

GCM Grosvenor's Elevate Fund closes at $800 million, focusing on seed investments in emerging private equity firms.

Quiver AI Summary

GCM Grosvenor has announced the final close of its inaugural Elevate Fund with nearly $800 million in committed capital. Launched in 2023, this fund aims to make seed investments in small and emerging private equity firms that focus on lower- and middle-market buyout strategies across various industries. The firm, which has around $20 billion in assets under management with small and emerging managers, plans to leverage its extensive experience and network to provide vital resources and support to these managers. The Elevate Fund has already made two investments and expects to announce more in 2025. Among its notable investors is the California Public Employees’ Retirement System (CalPERS), which contributed $500 million to the fund, reflecting a growing interest in institutional investing in emerging managers.

Potential Positives

  • GCM Grosvenor's Elevate Fund successfully raised nearly $800 million in committed capital, indicating strong investor confidence and support for emerging managers in private equity.
  • The Elevate Fund's diversified investor base includes significant institutional players such as CalPERS, highlighting growing recognition of the value of emerging managers.
  • The fund has already made two investments and plans to make two to three more in 2025, demonstrating active engagement and growth potential in its strategy.

Potential Negatives

  • While the Elevate Fund has secured nearly $800 million, the launch phase required significant initial investment commitments, indicating a potentially high-risk strategy that may not appeal to all investors.
  • The press release mentions that Elevate has made only two investments to date, suggesting a slow start and raising concerns about the fund's ability to deploy capital effectively amidst market competition.
  • The announcement does not provide any performance metrics or concrete outcomes from the initial investments, which may lead to skepticism regarding the fund's future success and effectiveness.

FAQ

What is the Elevate Fund by GCM Grosvenor?

The Elevate Fund is GCM Grosvenor's inaugural fund dedicated to making seed investments in small and emerging private equity firms.

How much capital has the Elevate Fund raised?

The Elevate Fund has completed its final close with nearly $800 million in committed capital.

Who are the initial investors in the Elevate Fund?

Initial investors include the California Public Employees’ Retirement System (CalPERS) and various corporate, endowment, foundation, and family office investors.

What types of investments does the Elevate Fund focus on?

Elevate focuses on lower- and middle-market buyout strategies across various industries through seed investments.

What firms has the Elevate Fund invested in so far?

To date, Elevate has invested in Excolere Equity Partners and Invidia Capital Management, with more investments expected in 2025.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.


$GCMG Insider Trading Activity

$GCMG insiders have traded $GCMG stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $GCMG stock by insiders over the last 6 months:

  • KATHLEEN PATRICIA SULLIVAN (Principal Accounting Officer) sold 5,000 shares for an estimated $53,635

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$GCMG Hedge Fund Activity

We have seen 60 institutional investors add shares of $GCMG stock to their portfolio, and 35 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

  • BAMCO INC /NY/ added 1,750,000 shares (+inf%) to their portfolio in Q3 2024, for an estimated $19,810,000
  • ROYCE & ASSOCIATES LP removed 596,809 shares (-13.4%) from their portfolio in Q3 2024, for an estimated $6,755,877
  • AMERIPRISE FINANCIAL INC added 585,048 shares (+12.2%) to their portfolio in Q3 2024, for an estimated $6,622,743
  • DEPRINCE RACE & ZOLLO INC removed 556,941 shares (-77.0%) from their portfolio in Q3 2024, for an estimated $6,304,572
  • PHASE 2 PARTNERS, LLC removed 351,239 shares (-45.1%) from their portfolio in Q3 2024, for an estimated $3,976,025
  • RUSSELL INVESTMENTS GROUP, LTD. removed 243,229 shares (-35.2%) from their portfolio in Q3 2024, for an estimated $2,753,352
  • MORGAN STANLEY added 167,857 shares (+33.0%) to their portfolio in Q3 2024, for an estimated $1,900,141

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release



CHICAGO, Jan. 23, 2025 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management firm, today announced its inaugural Elevate Fund (“Elevate”) has completed its final close with nearly $800 million in committed capital. Launched in 2023, Elevate makes catalytic seed investments in small and emerging private equity firms, focused on lower- and middle-market buyout strategies across industries.



Elevate builds on GCM Grosvenor’s strong, multi-decade track record of investing in small and emerging managers and the firm’s position as a leading investor in the small- and middle- and middle market. The $80 billion firm has approximately $20 billion in assets under management with small and emerging managers. The firm’s deep expertise and expansive network enable it to provide critical resources, strategic guidance, and operational support to firm founders, encouraging innovation, growth, and a stronger path to long-term success.



“We are proud to celebrate this significant milestone for our Elevate strategy,” said Elizabeth Browne, Managing Director and Co-Head of GCM Grosvenor’s Elevate Strategy. “The depth and quality of our limited partners underscores a growing market recognition of the value being created by emerging managers in private equity and our ability to structure partnerships with some of the best firm founders in market today.”



Elevate’s diversified investor base includes the California Public Employees



Retirement System (CalPERS), which launched the strategy with a $500 million commitment, alongside a cohort of corporate, endowment, foundation, insurance, and single and multi-family office investors. “We believe the breadth of support for Elevate reflects burgeoning interest in GP seeding as an institutional asset class, mirroring the early days of the GP stakes market, as well as strong interest in sponsor solutions more broadly,” said Browne.



"Our partnership reflects an ongoing commitment to innovation in emerging manager investing,” said Peter Cashion, Managing Investment Director for Sustainable Investing at CalPERS. “We look forward to continued success in supporting the next generation of exceptional investment talent.”



To date, Elevate has made two investments, with a third expected to be announced in the coming weeks. The first investment, Excolere Equity Partners, a leading education and human capital management investment firm founded by Tony Miller, former Co-Founder and COO of The Vistria Group and Deputy Secretary of the U.S. Department of Education, was announced in October 2023. The second investment, announced in May 2024, was with Invidia Capital Management, a healthcare investment firm founded by Jo Natauri, a 25-year healthcare veteran who most recently served as Partner and Global Head of Private Healthcare Investing at Goldman Sachs.



“We are excited to have Tony and Jo as partners and value their exceptional domain expertise, the caliber of the firms they have built and the quality of companies in which they continue to invest,” said Kevin Nickelberry, Managing Director and Co-Head of GCM Grosvenor’s Elevate Strategy. “Their notable progress in establishing leading firms and effectively raising and deploying capital is both inspiring and a compelling affirmation of their vision, capabilities, and leadership.”



Elevate expects to make two to three more investments in 2025.




About GCM Grosvenor



GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit:

gcmgrosvenor.com

.




About Excolere Equity Partners



Excolere Equity Partners is a private equity firm based in Los Angeles focused on the Education and Human Capital Management sector. Working in partnership with management, Excolere leverages its extensive sector experience, operational expertise and public policy insights to accelerate the growth, enhance the impact, and increase the long-term value for the companies in which it invests. For more information, please visit

https://excolerepartners.com

.




About Invidia Capital Management



Invidia Capital Management is a healthcare-oriented private equity firm based in New York and focused on upper-middle market investments in North America. It was founded in 2024 by Jo Natauri, formerly the Global Head of Private Healthcare Investing at Goldman Sachs. Jo Natauri has 25+ years of experience in the healthcare sector, with a diverse background that includes private equity investment, board membership, investment banking, and operational leadership. Invidia aims to reinvent the approach to the middle market by leveraging mega-cap expertise and network, utilizing a wide array of value creation levers, offering broader exit options, and maintaining a balanced risk/reward profile. For more information, please visit

www.invidiacap.com

.




Media Contact



Tom Johnson and Abigail Ruck


H/Advisors Abernathy (on behalf of GCM Grosvenor)



tom.johnson@h-advisors.global

/

abigail.ruck@h-advisors.global






This article was originally published on Quiver News, read the full story.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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