GCM Grosvenor Inc-A 2026年季度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) 312-506-6500(Registrant's telephone number, including area code)N/A(Former Name, Former Address and Former Fiscal Year if Changed Since Last Report)__________________________________ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 duringthe preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past90 days.Yes☒No☐ 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. Large accelerated filer☐Accelerated filer☒Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ 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.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☒As of May4, 2026, there were 60,383,165 shares of the registrant’s Class A common stock, par value $0.0001 per share, outstanding and 141,665,831 shares of the registrant’s Class C common stock, par value $0.0001 per share, outstanding. Table of Contents PagePart I - Financial InformationItem 1.Financial Statements (unaudited)4Condensed Consolidated Statements of Financial Condition as of March 31, 2026 and December 31, 20254Condensed Consolidated Statements of Income (Loss) for the Three Months Ended March 31, 2026 and 20255Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 31, 2026 and 20256Condensed Consolidated Statements of Equity (Deficit) for the Three Months Ended March 31, 2026 and 20257Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 20258Notes to Condensed Consolidated Financial Statements9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations29Item 3.Quantitative and Qualitative Disclosures about Market Risk47Item 4.Controls and Procedures47 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 of 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,allocations, and other rights accorded to holders of partnership interests in GCMH;•“Holdings” are to Grosvenor Holdings, L.L.C., an Illinois limited liability company;•