GCM Grosvenor Raises $800M for First Emerging Managers Fund

GCM Grosvenor secured $800M in total capital commitments at the final close of its GCM Grosvenor Elevate Fund I for emerging private equity managers, the firm announced in a January 23 news release.

The Chicago-based alternative asset manager's first Elevate fund will target opportunities to seed small and emerging private equity firms in the lower and middle-market of various industries. To date, it has deployed capital in education and human capital management investment firm Excolere Equity Partners and healthcare investment firm Invidia Capital Management. A third investment is expected in the coming weeks and two to three more are anticipated within 2025.

Elevate I generated support from corporate, endowment, foundation, insurance, and single and multi-family office investors. According to Dakota data, the California Public Employees' Retirement System pledged $500M to the fund.

Across multiple strategies, the Nasdaq-listed GCM Grosvenor oversees $80B of assets in total. For more than 50 years, the firm has specialized in alternatives, building a team of 550 professionals to cater to institutional and individual investor clients worldwide.

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Written By: Dakota

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