GCM Grosvenor Raises $2.7 Billion in Third-Quarter Capital

The Tip Desk · November 12, 2026 · 2 min read

Fee-related earnings were $53.9 million in the three months ended September 30, 2026, up 15% from a year earlier.

GCM Grosvenor (GCMG), a global alternative asset management solutions provider, raised $2.7 billion of new capital in the third quarter of 2026, bringing last-twelve-month fundraising to $10.0 billion.

The firm said GAAP net income attributable to GCM Grosvenor Inc. was $12.3 million for the three months ended September 30, 2026, up 17% from a year earlier. Diluted earnings were $0.17 a share. Fee-related earnings were $53.9 million, up 15%. Adjusted net income was $44.6 million, up 20%, or $0.22 a share, up 16%. Adjusted EBITDA was $64.4 million, up 15%.

GAAP revenue was $145.6 million, up 8%. Fee-related revenue was $115.2 million, up 10%. Absolute Return Strategies management fees were $46.8 million, up 19%, versus Private Markets management fees of $66.4 million, up 7%. Fee-related earnings margin was 47% and adjusted EBITDA margin was 46%.

Assets under management were $98.0 billion as of September 30, 2026, up 13% from $87.0 billion a year earlier. Fee-paying AUM was $78.1 billion, up 11%. Absolute Return Strategies fee-paying AUM was $28.2 billion, up 18%, versus Private Markets fee-paying AUM of $50.0 billion, up 8%. Chairman and Chief Executive Officer Michael Sacks said the firm’s $2.7 billion of fundraising, near-term pipeline, and increased carried interest at NAV position it for future growth.

Incentive fees were $24.8 million in the quarter, including performance fees of $2.0 million and carried interest of $22.7 million. Unrealized carried interest at NAV was $592 million as of September 30, 2026, with a 52% firm share. The company said it repurchased 0.1 million shares of Class A common stock for $0.9 million during the quarter. Of a $255.0 million repurchase authorization, $54.1 million remained available as of September 30, 2026.

The board approved a $0.12 a share dividend payable December 15, 2026, to shareholders of record December 1, 2026.