GCM Grosvenor has closed its latest secondary fund at $700 million. GSF II’s limited partners include public and Taft-Hartley pension plans, financial institutions, healthcare systems and endowments, in the U.S., Europe and Asia. GSF II will acquire stakes in private funds via secondary deals, focusing on transactions of less than $50 million average deal size.
CHICAGO, Feb. 5, 2018 /PRNewswire/ — 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. GSF II, which held its first close in May of 2017, reached the fund’s hard cap.
Fund investors include public and Taft-Hartley pension plans, financial institutions, healthcare systems and endowments, in the U.S., Europe and Asia.
GSF II will acquire interests in private funds through secondary market transactions, with a focus on transactions of less than $50 million average deal size. GSF II will target funds oriented toward small and middle market buyout, special situation, growth equity, infrastructure and real estate investment strategies.
GCM Grosvenor has been active in secondary transactions since 2003, with over $2 billion committed to more than 100 investments. “We are grateful for the support we received from investors,” said Brian Sullivan, Managing Director and head of the firm’s secondaries business. “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. We continue to see value in the secondary market, and are confident we will identify compelling opportunities on behalf of our investors.”
About GCM Grosvenor: 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. It is one of the largest, most diversified independent alternative asset management firms worldwide.
GCM Grosvenor has offered alternative investment solutions since 1971. The firm is headquartered in Chicago, with offices in New York, Los Angeles, London, Tokyo, Hong Kong and Seoul. GCM Grosvenor serves a global client base of institutional and high net worth investors.