2024-07-20 04:11:00 ET
Summary
- GCM Grosvenor's share price has increased by 20% YTD, with positive developments such as raising $1.6 billion in new capital and a 39% increase in adjusted net income.
- The company manages around $79 billion in AUM, offering flexible and diversified investment strategies to deliver competitive risk-adjusted returns to clients.
- Despite strong fundamentals, the stock is no longer considered cheap and deserves a hold rating due to already pricing in positive developments and potential dilution.
- Shares are a hold with price target of $6.
Investment Thesis
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GCM Grosvenor: Not Much Upside Left