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Jun 30, 2023
GCM Q2 2023 Earnings Report
Reported solid results for the second quarter of 2023, with fundraising increasing and share repurchase plan expanded.
Key Takeaways
GCM Grosvenor reported a 3% increase in revenue to $107.6 million and a 3% increase in adjusted net income to $22.7 million for the second quarter ended June 30, 2023. The firm's private markets fee-paying AUM increased 12% year-over-year, and fundraising increased approximately 50% from the first quarter to $1.5 billion. The company also increased its share repurchase authorization to $115 million.
Assets Under Management increased 7% year-over-year to $76.0 billion.
Fee-Paying Assets Under Management increased 5% year-over-year to $60.6 billion.
Private Markets FPAUM increased 12% year-over-year.
The Board of Directors increased the firm's existing share repurchase authorization by $25 million, from $90 million to $115 million.
Forward Guidance
GCM Grosvenor is confident in their growth trajectory and increased their share repurchase authorization.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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