GCM Grosvenor closes second co-investment fund at USD540 million

Business deal

Global alternative asset manager GCM Grosvenor has completed the final close of its Co-Investment Opportunities Fund II with nearly USD540 million in committed capital.

Public, corporate, and Taft-Hartley pension plans, financial institutions, and family offices based in North America, Europe, the Middle East, and Asia invested in Co-Investment Opportunities Fund II.

The fund targets buyout co-investments alongside private equity sponsors, with a focus on the middle-market. It will pursue opportunities sourced from nearly 300 middle-market buyout fund commitments.

“We believe properly constructed co-invest programs benefit investors’ private equity portfolios by providing complementary exposures, j-curve mitigation, and return enhancement from fee efficiency,” said Jon Levin, GCM Grosvenor’s president.

“Our 17-year track record in co-investing, flexible investment platform, and deep relationships with top-tier sponsors enable us to source broadly and be selective in our investments,” he added.

Specialising in alternatives since 1971, GCM Grosvenor manages USD 57 billion in hedge fund strategies, private equity, infrastructure, real estate and multi-asset class opportunistic investments. The firm is headquartered in Chicago, with offices in New York, Los Angeles, London, Tokyo, Hong Kong, and Seoul.

The firm’s broader co-investment practice has made more than 150 co-investments to date and raised more than USD4.1 billion for the strategy over the past two years.