GCM Grosvenor Announces $ 85 Million Term Loan Increase



CHICAGO, June 14, 2021 (GLOBAL) – GCM Grosvenor (Nasdaq: GCMG), a global provider of alternative asset management solutions, announced today that it will seek to increase the size of its term loan by $ 85 million to ensure the buyback of certain investments fund. and future storage rights associated with Mosaic (collectively the “Mosaic Assets”). Based on values ​​as of March 31, 2021.oneGCM Grosvenor will repurchase assets and carry forward interest on net worth of approximately $ 238 million (including fund investment of $ 87 million and unrealized interest carried forward on net worth of $ 150 million) and rights to additional future carry-over interest related to the amount carrying amount of $ 423 million for the work, at an assessed purchase price at 31 March 2021 of $ 176 million (the “Transaction”). Realized reflected interest income from Mosaic Assets was US $ 14.7 million.2 for the twelve months ended March 31, 2021 and realized investment income of US $ 1.5 million for the same period.

“In addition to being an immediate deal for our shareholders and simplifying our structure, we believe there is significant upside potential from the long-term growth in the carry-over interest and investment associated with Mosaic,” said Michael Sachs, Chairman and CEO GCM Grosvenor. “In the last quarter alone, we saw Mosaic’s unrealized interest rate at NPV rise 31% to $ 150 million as of March 31, 2021.”

The deal, financed by balance sheet cash and debt, is expected to close in the third quarter of 2021.

About GCM Grosvenor

GCM Grosvenor (Nasdaq: GCMG) is a global provider of alternative asset management solutions with nearly $ 65 billion in assets under management, including private equity, infrastructure, real estate, lending strategies and absolute return investment strategies. The firm has been in business for 50 years and aims to provide clients with growing classes of alternative investment assets.

GCM Grosvenor’s experienced team of approximately 500 professionals serves a global client base of institutional and high net worth investors. The firm is headquartered in Chicago with offices in New York, Los Angeles, Toronto, London, Tokyo, Hong Kong and Seoul. For more information, please visit: www.gcmgrosvenor.com

Mosaic’s asset values ​​are subject to change based on interim cash flows and changes in value between March 31, 2021 and the actual date of the transaction.
2 This amount represents the redeemable non-controlling interest if the transaction had occurred on March 31, 2021, and includes all taxes carried forward attributable to Mosaic’s interests from that time, in accordance with Mosaic’s carry-forward rights for all future periods.

Source: GCM Grosvenor

Contact information for public shareholders
Stacy Selinger

Media contacts
Tom Johnson and Will Brown
Abernathy McGregor
tbj@abmac.com / whb@abmac.com


Source link