GCM Grosvenor Exceeds Diverse Manager Allocation Target Ahead Of Schedule
GCM Grosvenor says that it has met its June 2019 stated objective of allocating an additional $2bn to women and minority investment managers more than a year ahead of its targeted three-year timeline.
"We believe there is a significant, overlooked, high-quality investment opportunity among diverse managers," said Michael Sacks, Chairman and CEO of GCM Grosvenor. "We feel we can achieve attractive results for our clients while promoting equal access to capital and wealth creation."
Francis Idehen, the firm's Chief Operating Officer, stated that "the opportunity set, talent, and track records of the diverse manager community merit this investment."
"While $2 billion allocated in less than two years is a significant milestone, we believe there is considerable opportunity for us and others in the industry to deploy more capital to women and minority alternative investment managers," said Derek Jones, GCM Grosvenor Managing Director and Co-Head of the firm's Private Equity Diverse Manager practice. "We can and will deploy more capital to these managers over the coming years."
GCM Grosvenor has committed approximately $17bn to environmental, social and governance and impact strategies, including clean energy, diverse managers, regionally targeted programs, and labour impact investments. The firm has made approximately $8bn in commitments in more than 190 investments in diverse and women managers across private equity, infrastructure, real estate, credit, and absolute return strategies since formalizing its diverse manager investment efforts in 2002.
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