GCM Grosvenor Announces Nearly $800 Million Close for Elevate Fund Aiding Emerging PE Firms

Funding | Jan 23, 2025 | Grosvenor Capital Management L

GCM Grosvenor Announces Nearly $800 Million Close for Elevate Fund Aiding Emerging PE Firms

GCM Grosvenor, a renowned alternative asset management firm, has finalized its Elevate Fund, reaching nearly $800 million in committed capital. Launched in 2023, the Elevate Fund focuses on making seed investments in small and emerging private equity firms with a concentration on lower- and middle-market buyout strategies across various industries. Boasting a strong track record in investments within the small and middle market segments, GCM Grosvenor has established itself as a key player with approximately $20 billion in assets under management for small and emerging managers. The firm's wide-reaching network and extensive expertise allow it to offer essential resources and strategic support to firm founders, fostering innovation and sustainable growth. The Elevate Fund's investor base includes notable entities such as the California Public Employees Retirement System (CalPERS) which committed $500 million, alongside various endowments, insurance companies, and multi-family offices. The fund's success highlights the rising recognition of emerging managers' value and the growing interest in GP seeding. Having already made investments in firms like Excolere Equity Partners and Invidia Capital Management, Elevate plans to announce additional partnerships in 2025, aiming to continue propelling emerging talent in the private equity landscape.

Sectors

  • Private Equity
  • Asset Management

Geography

  • United States – GCM Grosvenor is headquartered in Chicago with investments and operations across the U.S., making this a relevant geographical context.

Industry

  • Private Equity – The article centers around GCM Grosvenor's Elevate Fund which invests in emerging private equity firms, indicating relevance to the private equity industry.
  • Asset Management – GCM Grosvenor operates in asset management, managing a wide array of investment strategies, making this a pertinent classification.

Financials

  • $800 million – The total committed capital in GCM Grosvenor's Elevate Fund.
  • $500 million – The commitment made by CalPERS, highlighting significant backing for the Elevate Fund.

Participants

NameRoleTypeDescription
GCM GrosvenorPrivate Equity FundCompanyA leading global alternative asset management firm managing the Elevate Fund.
Excolere Equity PartnersInvestment FirmCompanyA private equity firm based in Los Angeles focusing on Education and Human Capital Management.
Invidia Capital ManagementInvestment FirmCompanyA healthcare-focused private equity firm based in New York founded by Jo Natauri.
California Public Employees Retirement System (CalPERS)InvestorCompanyContributed $500 million to the Elevate Fund, emphasizing interest in emerging manager investments.