gcm grosvenor secondaries

By januari 11, 2021Uncategorized

“They, like us, view secondaries as a means to diversify their private equity portfolio with mature, high-quality assets, while seeking to mitigate the j-curve and reduce blind pool risk. Pathway closes secondaries fund. Strategic Partners is investing its $11.1 billion Fund VIII, on which it held a final close in July. And, as mentioned, since secondary investors are typically not sector experts, they may need to rely on the GP to help evaluate investments and make these quick investment decisions, so trust, alignment, and a shared history with the manager are critical in our view. Categories: Funds, Secondaries Funds: GCM Grosvenor Private Markets - Private Equity Companies: Grosvenor Capital Management Related Stories: GCM Grosvenor leads restructuring of Denham Capital IV GCM Grosvenor wraps up latest secondary vehicle after raising $700m GCM Grosvenor sells PAI Europe IV to Strategic Partners University of Richmond sells Vitruvian to GCM Grosvenor Credit Suisse … GCM Grosvenor has been active in secondary transactions since 2003, with over $2 billion committed to more than 100 investments. And since secondary investors are typically not sector experts, they may likely need to rely at some level on the GP to help parse the information and evaluate investments. Similar to LP deals, GP-led deals include perceived risks about portfolio concentration and duration. See the parent company profile. GCM Grosvenor®, Grosvenor®, Grosvenor Capital Management®, GCM Customized Fund Investment Group®, Customized Fund Investment Group®, and Consortium™ are trademarks of GCM Grosvenor and its affiliated entities. SOURCE: GCM Grosvenor This site has been prepared by Grosvenor Capital Management, L.P. and GCM Customized Fund Investment Group, L.P. (which, together with their affiliates, are referred to herein as “GCM Grosvenor”). GCM Grosvenor has not independently verified third-party information and makes no representation or warranty as to its accuracy or completeness. Small, Emerging, and Diverse Manager Investing, Securities Investor Protection Corporation, Acquiring assets at a discount to intrinsic value, Limited ability for the LP to influence the outcome once the investment has closed. In seeking to mitigate such risks, it is often incumbent on the investor to manage exposure appropriately for the size of the program. “We are grateful for the support we received from investors,” said Brian Sullivan, Managing Director and head of the firm’s secondaries business. Small, Emerging, and Diverse Manager Investing, Securities Investor Protection Corporation. Unlock this article instantly, along with the rest of our premium content, newsletters and mandate charts. Susan Barreto November 20, 2020. Transaction refers to the business combination announced August 3, 2020 and completed on November 17, 2020 through which CFAC merged with an d into GCM Grosvenor Inc., ceasing the separate corporate existence of CFAC with GCM Grosvenor … Courtesy of GCM Grosvenor. The views expressed are for informational purposes only and are not intended to serve as a forecast, a guarantee of future results, investment recommendations, or an offer to buy or sell securities by GCM Grosvenor. Filings with the Securities and Exchange Commission dated 25 May 2017 put the fund’s target … There are many types of GP-led deals including tender offers, continuation funds, asset sales, strip sales, and fund restructurings. Over this same period, the annual fundraising for private equity funds has increased three-fold, which implies that secondary market volume is poised to double yet again in the coming years as those funds reach maturity. Investment Strategy Geography ; Coinvestment Fund; Fund of Funds (PE) Private Equity; USA; Global; Western Europe; See Diligence Group Related News: Where institutions connect and collaborate on diligence and secondaries. Yet they all revolve around the same basic structure in which existing investors have an option for liquidity and incoming investors obtain a mostly passive interest in a limited partnership. GCM Grosvenor serves a global client base of institutional and high net worth investors. At GCM Grosvenor, our team of more than 45 dedicated private equity investment professionals maintains over 400 manager relationships, which we believe gives us rare visibility into the GP-led market. Given these dynamics, secondary-only firms are increasingly fighting to stay relevant, often offering to take on large amounts of unfunded, even through stapled primary commitments, which can provide additional risks. We expect this failure rate will decrease as norms continue to become more established. Brian Sullivan a obtenu un Bachelor of Science, Mechanical Engineering de United States Naval Academy en 1989 et un Master of Business Administration in Finance and Strategy de University of Pennsylvania - The Wharton School en 1996. Home/Private Equity/ Pathway closes secondaries fund. GCM Grosvenor, an alternatives investment manager with $50 billion under management, has raised nearly triple the original target of its latest secondaries fund. The secondary market has expanded and evolved but has very much adhered to the same mandate: provide liquidity for limited partners. Duration risk can also arise from the stapled primary or follow-on commitments that increasingly accompany GP-led deals, particularly in tender situations. Grosvenor’s latest fund is its $700 million GCM Grosvenor Secondary Opportunities Fund II, which it closed in February last year. GCM Grosvenor led a deal to pull remaining assets out of Denham Capital’s 2005 fund and move them into a new pool that gives the GP more time to manage the investments, sources told Buyouts. Past performance is not necessarily indicative of future results. GSF II, which held its first close in May of 2017, reached the fund’s hard cap. But these elements have always been a focus for secondary buyers as well. … In the following, we explore the growth and evolution of the secondary market, compare complex non-traditional transactions with traditional secondaries, and discuss the importance of a robust platform of manager relationships to access GP-led deals. See who GCM Grosvenor has hired for this role. 2 Diligencers 3 Buyers. Structures: Limited partnerships; co-investment funds; separate accounts; capital raised by secondaries firms that happen to be publicly traded; seed capital and GP commitment. GCM Grosvenor is a global alternative asset management firm with approximately $50 billion of AUM in hedge fund strategies, private equity, infrastructure, real estate and multi-asset class solutions. 44 GCM Grosvenor reviews. "We are grateful for the support we received from investors," says Brian Sullivan (pictured), Managing Director and head of the firm's secondaries business. Salaries posted anonymously by GCM Grosvenor employees. Categories: Deals, Secondaries Funds: GCM Grosvenor Private Markets - Private Equity, Vitruvian Partners Companies: GCM Grosvenor Private Markets Related Stories: GCM Grosvenor leads restructuring of Denham Capital IV GCM Grosvenor wraps up latest secondary vehicle after raising $700m University of Richmond sells Vitruvian to GCM Grosvenor GCM Grosvenor sells PAI Europe IV … In the three years prior to 2020, the private equity secondary market more than doubled in size, and, despite the lull in activity for the first half of this year, we expect its growth to continue. The amount of remaining net asset value (NAV) in funds that are 10+ years old is a strong expected driver of secondaries transaction volume. GSF II, which held its first close in May of 2017, reached the fund’s hard cap. Report … The core of the secondaries market remains the traditional LP deal: the sale of a fund LP interest by a single seller, often as a part of a portfolio of interests. No assurance can be given that any investment will achieve its objectives or avoid losses. Check the background of GRV Securities LLC or its Associated Persons at brokercheck.finra.org. These older funds are more prone to be part of an LP sale or a GP-led transaction. GCM Grosvenor®, Grosvenor®, Grosvenor Capital Management®, GCM Customized Fund Investment Group®, Customized Fund Investment Group®, and Consortium™ are trademarks of GCM Grosvenor and its affiliated entities. GCM Grosvenor’s Labor Impact Fund, L.P., seeks to originate and execute infrastructure projects that leverage the inclusion of union labor as a contributing factor to enabling attractive risk-adjusted returns. This site has been prepared by Grosvenor Capital Management, L.P. and GCM Customized Fund Investment Group, L.P. (which, together with their affiliates, are referred to herein as “GCM Grosvenor”). Managing Director, Secondaries Investment - GCM Grosvenor (Organigramme) Créer une alerte pour suivre le parcours de Brian Sullivan. GCM Grosvenor has completed the final close of its Secondary Opportunities Fund II, L.P. (“GSF II”) with $700 million in committed capital, the Chicago-based firm announced today. Traditional deals typically involve a range of investment quality, and it can be more difficult for buyers to purchase only the investments they like or scale their investment up or down. National Conference on Public Employee Retirement Systems GP Led Transactions Typically involve private equity funds that are approaching, or have exceeded, the end of the fund’s stated life but still have assets remaining in the fund. GCM Grosvenor has created a $50 million separate account with Delaware firm Corten Real Estate Partners. This part of the secondary market is getting tested. 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