GCM Grosvenor, a $57bn alternative asset manager based in Chicago, is planning to go public via amalgamation with a special purpose acquisition company (SPAC) sponsored by Cantor Fitzgerald.

GCM Grosvenor, owned by management and private equity firm Hellman & Friedman, has already signed a definitive agreement for the merger with the SPAC CF Finance Acquisition (CFAC).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Hellman & Friedman has a minority holding in GCM Grosvenor since 2007 and will offload its equity as part of the deal, which values the Chicago firm at $2bn.

Upon completion, GCM Grosvenor management is expected to own over 70% of the outstanding shares of the merged group which is said to be “modestly higher than its historic ownership”.

Shareholders of CF Finance including Cantor Fitzgerald and other institutional investors will own the remaining outstanding shares of the consolidated business.

Cantor Fitzgerald will invest $30m in the merged entity while institutional investors will invest $195m in private investment in public equity shares at $10 a share.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The consolidated business will trade as GCM Grosvenor. Its existing management including chairman and CEO Michael Sacks will remain at the helm of the business.

Sacks noted: “We believe that becoming a publicly listed company will benefit our clients, our team members and all of our stakeholders.

“We have long valued having external shareholders and we wanted to preserve the accountability and focus that comes with that.”

The merger already secured the green light from the CFAC board. It now awaits the nod of CF Finance shareholders.

Grosvenor’s investment strategies and operational processes will remain unchanged.