GCM Grosvenor Inc. - 2025年季度报告

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Table of Contents Item1.Legal Proceedings48Item 1A.Risk Factors49Item 2.Unregistered Sales of Equity Securities and Use of Proceeds49Item 3.Defaults Upon Senior Securities49Item 4.Mine Safety Disclosures49Item 5.Other Information49Item6.Exhibits50Signatures52 BASIS OF PRESENTATION As used in this Quarterly Report on Form 10-Q, unless as the context requires otherwise, as used herein, references to “GCM,” the“Company,” “we,” “us,” and “our,” and similar references refer collectively to GCM Grosvenor Inc. and its consolidated subsidiaries. Unless the context otherwise requires, references in this Quarterly Report on Form 10-Q to: •“AUM” are to assets under management;•“CF Sponsor” are to CF Finance Holdings, LLC, a Delaware limited liability company;•“clients” are to persons who invest in our funds, even if such persons are not deemed clients of our registered investmentadviser subsidiaries for purposes of the Investment Advisers Act 1940, as amended;•“Class A common stock” are to our Class A common stock, par value $0.0001 per share;•“Class B common stock” are to our Class B common stock, par value $0.0001 per share;•“Class C common stock” are to our Class C common stock, par value $0.0001 per share;•“FPAUM” are to fee-paying AUM;•“GCMG” are to GCM Grosvenor Inc., which was incorporated in Delaware as a wholly owned subsidiary of GrosvenorCapital Management Holdings, LLLP, formed for the purpose of completing the Transaction. Pursuant to the Transaction,Grosvenor Capital Management Holdings, LLLP cancelled its shares in GCM Grosvenor Inc. no longer making GCMGrosvenor Inc. a wholly owned subsidiary of Grosvenor Capital Management Holdings, LLLP;•“GCM Grosvenor” are to GCMH, its subsidiaries, and GCM, L.L.C.;•“GCM V” are to GCM V, LLC, a Delaware limited liability company;•“GCMH” are to Grosvenor Capital Management Holdings, LLLP, a Delaware limited liability limited partnership;•“GCM Funds” and “our funds” are to GCM Grosvenor’s specialized funds and customized separate accounts;•“GCMH Equityholders” are to Holdings, Management LLC, Holdings II and GCM Progress Subsidiary LLC;•“Grosvenor common units” are to units of partnership interests in GCMH entitling the holder thereof to the distributions, FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements. We intend such forward-looking statements to be coveredby the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the“Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other thanstatements of historical facts contained in this Quarterly Report on Form 10-Q, including, but not limited to, statements regarding ourfuture results of operations or financial condition; business strategy and plans; including anticipated and future payments of dividendsand capital return plans; market opportunity and changes in investor perceptions of alternative investments; our ability to expand ourproduct offerings for certain investors; and our relationships with our existing clients as part of our growth strategies may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” The forward-looking statements in this Quarterly Report on Form 10-Q are only current expectations and predictions. We have basedthese forward-looking statements largely on our current expectations and projections about future events and financial trends that webelieve may affect our business, financial condition and results of operations. Forward-looking statements involve known andunknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to bematerially different from any future results, performance or achievements expressed or implied by the forward-looking statements,including, but not limited to, the historical performance of GCM Grosvenor’s funds may not be indicative of GCM