Gcm Grosvenor Inc. · NASDAQ:GCMG
Gcm Grosvenor — Q3 2026 Earnings Presentation
23 slides from Gcm Grosvenor's earnings presentation, Oct 26, 2026
Slide 1: Hedge Fund Overview
HEDGE FUND OVERVIEW Q3 2026 The Notes and Disclosures following this presentation are an integral part of this presentation and must be read in connection with your review of this presentation. GCM Grosvenor® and Grosvenor® are trademarks of GCM Grosvenor L.P. and its affiliated entities. This prese
Slide 2: The Case for Hedge Funds
THE CASE FOR HEDGE FUNDS We believe hedge funds are highly effective tools in helping investors achieve their long-term goals: STRUCTURAL ADVANTAGES ATTRACTIVE RISK/REWARD PROFILE • Flexible investment mandate • Exhibit attractive risk/reward profiles over both ‒ Can adapt and dynamically shift expo
Slide 3: What Are Hedge Funds?
WHAT ARE HEDGE FUNDS? • Typically, private investment vehicles, often structured as limited partnerships or corporations • Flexible investment mandates, often seeking to exploit market inefficiencies • Differ by strategies employed, markets accessed, instruments used, and risks involved • Many hedge
Slide 4: Traditional vs. Hedge Fund Investments
TRADITIONAL VS. HEDGE FUND INVESTMENTS For illustrative purposes only. Not all investments in these categories exhibit all of these attributes. GCM GROSVENOR | 4
Slide 5: Distinguishing Features of Funds of Hedge Funds
DISTINGUISHING FEATURES OF FUNDS OF HEDGE FUNDS We believe funds of funds are an efficient way to access alternative investments. Funds of hedge funds are distinguished from other investments in the following ways: DIVERSIFICATION AND OUR VALUE-ADDED OPERATIONAL ACCESS INVESTMENT PROCESS EFFICIENCIE
Slide 6: Equity-Focused Hedge Fund Strategies (1 of 2)
EQUITY-FOCUSED HEDGE FUND STRATEGIES (1 OF 2) Equity-focused strategies involve the purchase or sale of equities based on fundamental and/or quantitative analyses and other factors. Managers seek to capitalize on discrepancies between their assessment of security valuations and current market prices
Slide 7: Equity-Focused Hedge Fund Strategies (2 of 2)
EQUITY-FOCUSED HEDGE FUND STRATEGIES (2 OF 2) Equity-focused strategies involve the purchase or sale of equities based on fundamental and/or quantitative analyses and other factors. Managers seek to capitalize on discrepancies between their assessment of security valuations and current market prices
Slide 8: Event Driven Hedge Fund Strategies
EVENT DRIVEN HEDGE FUND STRATEGIES Event driven strategies involve the purchase or sale of securities tied to a specific actual or expected corporate action or event. Managers seek to capitalize on discrepancies between their assessment of security valuations and current market prices, and the likel
Slide 9: Relative Value Hedge Fund Strategies (1 of 2)
RELATIVE VALUE HEDGE FUND STRATEGIES (1 OF 2) Relative value strategies are less dependent on market direction. Trades are constructed to capitalize on perceived mispricings of one instrument relative to another, or, within a given instrument, one maturity relative to another. RELATIVE VALUE STRATEG
Slide 10: Relative Value Hedge Fund Strategies (2 of 2)
RELATIVE VALUE HEDGE FUND STRATEGIES (2 OF 2) Relative value strategies are less dependent on market direction. Trades are constructed to capitalize on perceived mispricings of one instrument relative to another, or, within a given instrument, one maturity relative to another. RELATIVE VALUE STRATEG
Slide 11: Macro-Focused Hedge Fund Strategies
MACRO-FOCUSED HEDGE FUND STRATEGIES Macro-focused managers invest based on analyses and forecasts of macroeconomic trends, including governmental and central bank policies, political changes, fiscal trends, trade imbalances, interest rate trends and inter-country government relations. MACRO STRATEGI
Slide 12: The Power of Minimizing Negative Returns
THE POWER OF MINIMIZING NEGATIVE RETURNS Substantial negative returns make it more difficult to recover portfolio value and achieve portfolio growth. 25% Loss year 50% Loss year 33.3% return needed in year two to get back to $100. 100.0% return needed in year two to get back to $100. $100 $100 $100
Slide 13: Hedge Fund Performance
HEDGE FUND PERFORMANCE Historical preservation of capital in down markets PERFORMANCE IN VARIOUS MARKET ENVIRONMENTS January 1990 through September 2026 U.S. EQUITY GLOBAL EQUITY 25% Down 48% Up 78% All 21% Down 49% Up 97% All Market Market Market Market Market Market Capture Capture Capture Capture
Slide 14: Effect of Asymmetric Market Capture
EFFECT OF ASYMMETRIC MARKET CAPTURE Hedge fund investing has historically reduced drawdown risk (capturing less equity market down movements). FIVE WORST MONTHLY EQUITY MARKET DRAWDOWNS CUMULATIVE RETURNS Hedge funds and passive long-only equity (Jan. 1990 through Sept. 2026) Hedge funds and passive
Slide 15: Cumulative Net Return of Composite vs. Market Indexes
CUMULATIVE NET RETURN OF COMPOSITE VS. MARKET INDEXES CUMULATIVE RETURNS: HFRI FUND WEIGHTED COMPOSITE INDEX January 1990 through September 2026 5000% HFRI FUND WEIGHTED COMPOSITE INDEX 2,396.2% 4500% 3-MONTH U.S. TREASURY BILL INDEX 178.9% 4000% S&P 500 INDEX 4,422.2% BLOOMBERG U.S. AGGREGATE BOND
Slide 16: Notes & Disclosures
NOTES & DISCLOSURES Appendix GCM GROSVENOR | 16
Slide 17: Endnotes
ENDNOTES 10-year U.S. Treasury Note1 - The 10-year Treasury note is a debt obligation issued by the United States government with a maturity of 10 years upon initial issuance. A 10-year Treasury note pays interest at a fixed rate once every six months and pays the face value to the holder at maturit
Slide 18: Endnotes
ENDNOTES Bloomberg U.S. Aggregate Securitized Index1 - The Bloomberg U.S. Securitized Index is a composite of asset-backed securities, collateralized mortgage-backed securities (ERISA-eligible) and fixed rate mortgage-backed securities. Bloomberg WTI Crude Oil Subindex1 - Formerly known as Dow Jones
Slide 19: Endnotes
ENDNOTES Goldman Sachs Hedge Fund VIP Index 8 – The Goldman Sachs Hedge Fund VIP Index (the “Index”) is owned by Goldman Sachs Asset Management L.P. (the “Index Sponsor”). The Index is calculated by Solactive AG (the “Calculation Agent”). The Index consists of hedge fund managers’ “Very-Important-Po
Slide 20: Endnotes
ENDNOTES Morgan Stanley Capital International (“MSCI”) AC Asia Pacific Index3 - The MSCI AC Asia Pacific Index captures large and mid cap representation across 5 Developed Markets countries and Emerging Markets countries in the Asia Pacific region (Developed Markets countries in the index include: A
Slide 21: Endnotes
ENDNOTES Sharpe Ratio - The Sharpe Ratio is a measure of risk-adjusted returns. It is defined as an investment’s excess return over the risk-free rate divided by the standard deviation of the investment’s return: Where: ri = annualized rate of return of the investment r rf = annualized risk-free rat
Slide 22: Data Sources
DATA SOURCES Notes and Disclosures Bloomberg Finance L.P. Credit Suisse. Preqin. Eurekahedge. HFR, Inc. www.HFR.com. S&P. S&P and its third-party information providers do not accept liability for the information and the context from which it is drawn. FTSE International Limited ("FTSE") © FTSE 2026.
Slide 23: Conference Disclaimers
CONFERENCE DISCLAIMERS Notes and Disclosures Important Risk Information GCM Grosvenor (NASDAQ: GCMG) is a global alternative asset management solutions provider across private equity, infrastructure, real estate, credit, and absolute return investment strategies. Investments in alternatives are spec