Grosvenor Capital Management (GCMG) 10-Q 12 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 10, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-39716
Entity Registrant Name	GCM Grosvenor Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2226287
Entity Address, Address Line One	900 North Michigan Avenue, Suite 1100
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60611
City Area Code	312
Local Phone Number	506-6500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001819796
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	GCMG
Security Exchange Name	NASDAQ
Warrant
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase shares of Class A common stock
Trading Symbol	GCMGW
Security Exchange Name	NASDAQ
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		44,036,239
Class C common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		144,235,246

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 119,981	$ 198,146
Management fees receivable	16,979	14,524
Incentive fees receivable	28,274	69,424
Due from related parties	9,435	11,326
Investments	203,993	166,273
Premises and equipment, net	5,629	7,870
Intangible assets, net	6,839	8,588
Goodwill	28,959	28,959
Deferred tax assets, net	71,980	74,153
Other assets	20,814	53,015
Total assets	512,883	632,278
Liabilities and Equity (Deficit)
Accrued compensation and benefits	74,433	74,681
Employee related obligations	27,585	25,274
Debt	391,234	335,155
Payable to related parties pursuant to the tax receivable agreement	60,932	60,518
Warrant liabilities	41,888	42,793
Accrued expenses and other liabilities	26,961	60,926
Total liabilities	623,033	599,347
Commitments and contingencies (Note 15)
Redeemable noncontrolling interest	0	115,121
Preferred stock, $0.0001 par value, 100,000,000 shares authorized, none issued	0	0
Additional paid-in capital	0	2,705
Accumulated other comprehensive loss	(1,845)	(2,233)
Retained earnings	(35,777)	(29,832)
Total GCM Grosvenor Inc. deficit	(37,604)	(29,342)
Noncontrolling interests in subsidiaries	104,439	94,013
Noncontrolling interests in GCMH	(176,985)	(146,861)
Total deficit	(110,150)	(82,190)
Total liabilities and equity (deficit)	512,883	632,278
Class A common stock
Liabilities and Equity (Deficit)
Common stock	4	4
Class B common stock
Liabilities and Equity (Deficit)
Common stock	0	0
Class C common stock
Liabilities and Equity (Deficit)
Common stock	$ 14	$ 14

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	100,000,000	100,000,000
Preferred stock issued (in shares)	0	0
Class A common stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	700,000,000	700,000,000
Common stock, issued (in shares)	44,022,131	40,835,093
Common stock, outstanding (in shares)	44,022,131	40,835,093
Class B common stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	0	0
Common stock, outstanding (in shares)	0	0
Class C common stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	144,235,246	144,235,246
Common stock, outstanding (in shares)	144,235,246	144,235,246

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Income - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues
Operating revenue		$ 118,075	$ 101,746	$ 340,997	$ 274,493
Expenses
Employee compensation and benefits		72,867	75,315	232,054	186,459
General, administrative and other		20,131	17,263	66,314	58,101
Total operating expenses		92,998	92,578	298,368	244,560
Operating income		25,077	9,168	42,629	29,933
Investment income		13,732	7,902	40,239	1,700
Interest expense		(5,432)	(5,807)	(14,486)	(17,515)
Other income (expense)		1,329	446	2,385	(10,637)
Change in fair value of warrant liabilities		(9,550)	0	(2,231)	0
Net other income (expense)		79	2,541	25,907	(26,452)
Income before income taxes		25,156	11,709	68,536	3,481
Provision for income taxes		2,450	541	3,991	1,710
Net income		22,706	11,168	64,545	1,771
Less: Net income attributable to redeemable noncontrolling interest		0	3,322	19,827	5,600
Less: Net income attributable to noncontrolling interests in subsidiaries		10,142	6,520	30,439	3,873
Less: Net income (loss) attributable to noncontrolling interests in GCMH		8,508	1,326	7,020	(7,702)
Net income attributable to GCM Grosvenor Inc.		$ 4,056	$ 0	$ 7,259	$ 0
Earnings per share of Class A common stock:
Basic (in dollars per share)	[1]	$ 0.09	$ 0	$ 0.17	$ 0
Diluted (in dollars per share)	[1]	$ 0.03	$ 0	$ 0.03	$ 0
Weighted average shares of Class A common stock outstanding:
Basic (in shares)	[1]	44,387,598	0	43,673,347	0
Diluted (in shares)	[1]	188,877,077	0	188,136,198	0
Management fees
Revenues
Operating revenue		$ 87,796	$ 78,269	$ 256,015	$ 231,106
Incentive fees
Revenues
Operating revenue		29,178	21,774	79,619	38,048
Other operating income
Revenues
Operating revenue		$ 1,101	$ 1,703	$ 5,363	$ 5,339
[1]	There were no shares of Class A common stock outstanding prior to November 17, 2020, therefore no earnings per share information has been presented for any period prior to that date.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 22,706	$ 11,168	$ 64,545	$ 1,771
Other comprehensive income (loss):
Unrealized gain (loss) on cash flow hedges	2,005	1,103	3,349	(6,180)
Foreign currency translation adjustment	(290)	468	(908)	153
Total other comprehensive income (loss)	1,715	1,571	2,441	(6,027)
Comprehensive income (loss) before noncontrolling interests	24,421	12,739	66,986	(4,256)
Less: Comprehensive income attributable to redeemable noncontrolling interest	0	3,322	19,827	5,600
Less: Comprehensive income attributable to noncontrolling interests in subsidiaries	10,142	6,520	30,439	3,873
Less: Comprehensive income (loss) attributable to noncontrolling interests in GCMH	9,812	2,897	8,891	(13,729)
Comprehensive income attributable to GCM Grosvenor Inc.	$ 4,467	$ 0	$ 7,829	$ 0

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Deficit) - USD ($) $ in Thousands	Total	Other Noncontrolling Subsidiaries	GCM Holdings	Member’s Deficit-GCM, L.L.C.	Common StockClass A common stock	Common StockClass C common stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests in Subsidiaries	Noncontrolling Interests in SubsidiariesOther Noncontrolling Subsidiaries	Noncontrolling Interests in GCMH	Noncontrolling Interests in GCMHGCM Holdings	Partners’ Deficit	Cumulative-effect adjustment from adoption	Cumulative-effect adjustment from adoptionAccumulated Other Comprehensive Income (Loss)	Cumulative-effect adjustment from adoptionPartners’ Deficit
Beginning balance at Dec. 31, 2019	$ (213,830)			$ (66)					$ (6,854)	$ 101,463				$ (308,373)	$ 0	$ 650	$ (650)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions from noncontrolling interests in subsidiaries	3,124									3,124
Deemed contributions	38,381
Capital distributions	(42,568)			(44)										(42,524)
Capital distributions paid to noncontrolling interests	(14,709)									(14,709)
Equity transaction with Mosaic	60,935													60,935
Unrealized gain (loss) on cash flow hedges	(6,180)								(6,180)
Translation adjustment	153								153
Net income (loss)	(3,829)			52						3,873				(7,754)
Ending balance at Sep. 30, 2020	(178,523)			(58)					(12,231)	93,751				(259,985)
Beginning balance at Dec. 31, 2019	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Capital contributions from redeemable noncontrolling interest	173,797
Capital distributions paid to redeemable noncontrolling interest	(7,680)
Equity transaction with Mosaic	(60,935)
Net income (loss)	5,600
Ending balance at Sep. 30, 2020	110,782
Beginning balance at Jun. 30, 2020	(194,092)			(57)					(13,802)	90,163				(270,396)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions from noncontrolling interests in subsidiaries	976									976
Deemed contributions	21,605													21,605
Capital distributions	(12,521)			(21)										(12,500)
Capital distributions paid to noncontrolling interests	(3,908)									(3,908)
Unrealized gain (loss) on cash flow hedges	1,103								1,103
Translation adjustment	468								468
Net income (loss)	7,846			20						6,520				1,306
Ending balance at Sep. 30, 2020	(178,523)			$ (58)					(12,231)	93,751				$ (259,985)
Beginning balance at Jun. 30, 2020	108,665
Increase (Decrease) in Temporary Equity [Roll Forward]
Capital distributions paid to redeemable noncontrolling interest	(1,205)
Net income (loss)	3,322
Ending balance at Sep. 30, 2020	110,782
Beginning balance at Dec. 31, 2020	(82,190)				$ 4	$ 14	$ 2,705	$ (29,832)	(2,233)	94,013		$ (146,861)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions from noncontrolling interests in subsidiaries	2,558									2,558
Capital distributions paid to noncontrolling interests		$ (22,571)	$ (57,998)								$ (22,571)		$ (57,998)
Equity transaction with Mosaic	(61,495)						(14,033)					(47,462)
Settlement of equity-based compensation in satisfaction of withholding tax requirements	(6,899)						(2,479)	(499)				(3,921)
Issuance of Class A common stock due to exercised warrants	23,316						5,252					18,064
Deemed contributions	20,958											20,958
Unrealized gain (loss) on cash flow hedges	3,349								777			2,572
Translation adjustment	(908)								(207)			(701)
Equity-based compensation	38,084						8,654					29,430
Declared dividends	(10,791)							(10,791)
Deferred tax and other tax adjustments	(281)						(99)		(182)
Equity reallocation between controlling and non-controlling interests								(1,914)				1,914
Net income (loss)	44,718							7,259		30,439		7,020
Ending balance at Sep. 30, 2021	(110,150)				4	14	0	(35,777)	(1,845)	104,439		(176,985)
Beginning balance at Dec. 31, 2020	115,121
Increase (Decrease) in Temporary Equity [Roll Forward]
Capital contributions from redeemable noncontrolling interest	11
Capital distributions paid to redeemable noncontrolling interest	(43,500)
Equity transaction with Mosaic	(91,459)
Net income (loss)	19,827
Ending balance at Sep. 30, 2021	0
Beginning balance at Jun. 30, 2021	(49,818)				4	14	15,383	(33,185)	(2,209)	98,707		(128,532)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions from noncontrolling interests in subsidiaries	500									500
Capital distributions paid to noncontrolling interests		$ (4,910)	$ (19,295)								$ (4,910)		$ (19,295)
Equity transaction with Mosaic	(61,495)						(14,033)					(47,462)
Settlement of equity-based compensation in satisfaction of withholding tax requirements	(6,899)						(2,479)	(499)				(3,921)
Deemed contributions	6,029											6,029
Unrealized gain (loss) on cash flow hedges	2,005								479			1,526
Translation adjustment	(290)								(68)			(222)
Equity-based compensation	5,815						1,345					4,470
Declared dividends	(4,235)							(4,235)
Deferred tax and other tax adjustments	(263)						(216)		(47)
Equity reallocation between controlling and non-controlling interests								(1,914)				1,914
Net income (loss)	22,706							4,056		10,142		8,508
Ending balance at Sep. 30, 2021	(110,150)				$ 4	$ 14	$ 0	$ (35,777)	$ (1,845)	$ 104,439		$ (176,985)
Beginning balance at Jun. 30, 2021	125,923
Increase (Decrease) in Temporary Equity [Roll Forward]
Capital distributions paid to redeemable noncontrolling interest	(34,464)
Equity transaction with Mosaic	(91,459)
Net income (loss)	0
Ending balance at Sep. 30, 2021	$ 0

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net income	$ 64,545	$ 1,771
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	3,037	7,400
Equity-based compensation	38,083	0
Deferred taxes	2,083	0
Other non-cash compensation	2,704	3,360
Partnership interest-based compensation	20,958	38,381
Amortization of debt issuance costs	743	1,014
Amortization of terminated swap	3,263	0
Loss on extinguishment of debt	675	1,514
Change in fair value of derivatives	212	9,673
Change in fair value of warrant liabilities	2,231	0
Amortization of deferred rent	(1,184)	502
Proceeds received from investments	15,417	3,543
Non-cash investment loss	(40,239)	(1,700)
Other	49	22
Change in assets and liabilities:
Management fees receivable	(2,484)	1,338
Incentive fees receivable	41,150	9,201
Due from related parties	1,891	(565)
Other assets	25,367	(25,171)
Accrued compensation and benefits	(1,344)	(7,428)
Employee related obligations	181	(2,204)
Accrued expenses and other liabilities	(32,542)	2,480
Net cash provided by operating activities	144,796	43,131
Cash flows from investing activities
Purchases of premises and equipment	(392)	(1,165)
Proceeds from assignment of aircraft share interest	1,337	0
Contributions/subscriptions to investments	(20,808)	(16,221)
Withdrawals/redemption from investments	7,910	14,685
Net cash used in investing activities	(11,953)	(2,701)
Cash flows from financing activities
Capital contributions received from noncontrolling interest	2,569	176,921
Capital distributions paid to partners and member	(57,998)	(42,568)
Capital distributions paid to noncontrolling interests	(66,071)	(22,389)
Exercise of Mosaic call option	(150,122)	0
Proceeds from senior loan issuance	110,000	0
Principal payments on senior loan	(52,259)	(91,195)
Proceeds from credit facility	0	20,000
Principal payments on credit facility	0	(3,000)
Debt issuance costs	(3,080)	0
Proceeds from exercise of warrants	24,468	0
Payments from repurchase of warrants	(450)	0
Settlement of equity-based compensation in satisfaction of withholding tax requirements	(6,899)	0
Dividends paid	(10,120)	0
Net cash provided by (used in) financing activities	(209,962)	37,769
Effect of exchange rate changes on cash	(1,046)	121
Net increase (decrease) in cash and cash equivalents	(78,165)	78,320
Beginning of period	198,146	79,866
End of period	119,981	158,186
Supplemental disclosure of cash flow information
Cash paid during the period for interest	10,080	16,105
Cash paid during the period for income taxes	4,027	2,745
Supplemental disclosure of non-cash information from financing activities
Deemed contributions from GCMH Equityholders	20,958	38,381
Establishment of deferred tax assets, net related to tax receivable agreement and the Transaction	(99)	0
Dividends declared but not paid	$ 669	$ 0

Organization

Organization	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization GCM Grosvenor Inc. (“GCMG”) and its subsidiaries including Grosvenor Capital Management Holdings, LLLP (the “Partnership” or “GCMH” and collectively, the “Company”), provide comprehensive investment solutions to primarily institutional clients who seek allocations to alternative investments such as hedge fund strategies, private equity, real estate, infrastructure and strategic investments. The Company collaborates with its clients to construct investment portfolios across multiple investment strategies in the private and public markets, customized to meet their specific objectives. The Company also offers specialized commingled funds which span the alternatives investing universe that are developed to meet broad market demands for strategies and risk-return objectives. The Company, through its subsidiaries acts as the investment adviser, general partner or managing member to customized funds and commingled funds (collectively, the “GCM Funds”). GCMG was incorporated on July 27, 2020 under the laws of the State of Delaware for the purpose of consummating the Transaction as described in Note 3 and merging with CF Finance Acquisition Corp. (“CFAC”), a blank check company incorporated on July 9, 2014 under the laws of the State of Delaware. GCMG owns all of the equity interests of GCM Grosvenor Holdings, LLC (“IntermediateCo”), formerly known as CF Finance Intermediate Acquisition, LLC until November 18, 2020, which is the general partner of GCMH subsequent to the Transaction. GCMG’s ownership (through IntermediateCo) of GCMH as of September 30, 2021 and December 31, 2020 was approximately 23.4% and 22.1%, respectively. GCMH is a holding company operated pursuant to the Fifth Amended and Restated Limited Liability Limited Partnership Agreement (the “Partnership Agreement”) dated November 17, 2020, among the limited partners including Grosvenor Holdings, L.L.C. (“Holdings”), Grosvenor Holdings II, L.L.C (“Holdings II”) and GCM Grosvenor Management, LLC (“Management LLC”) (collectively, “GCMH Equityholders”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The unaudited Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. In the opinion of management, all necessary adjustments (which consists of only normal recurring items) have been made to fairly present the Condensed Consolidated Financial Statements for the interim periods presented. Results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as amended, filed with the Securities and Exchange Commission (“SEC”). The Company is an “emerging growth company” (“EGC”), as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), following the consummation of the merger of CFAC and the Company. The Company has elected to use this extended transition period for complying with new or revised accounting standards pursuant to Section 102(b)(1) of the JOBS Act that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition periods provided by the JOBS Act. As result of this election, its consolidated financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. COVID-19 In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) a global pandemic, which has resulted in significant disruption and uncertainty in the global economic markets. Given the amount of uncertainty currently regarding the scope and duration of the COVID-19 pandemic, the Company is unable to predict the precise impact the COVID-19 pandemic will have on the Company’s consolidated financial statements. In line with public markets and credit indices, the Company’s investments may be adversely impacted. Fair Value Measurements The Company categorizes its fair value measurements according to a three-level hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are defined as follows: • Level 1 – Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date; • Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active; and • Level 3 – Inputs that are unobservable. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. The carrying amounts of cash and cash equivalents and fees receivable approximate fair value due to the immediate or short-term maturity of these financial instruments. Investments The Company’s investments in the GCM Funds investing in private equity, real estate and infrastructure (“GCM PEREI Funds”) are valued based on the most recent available information, which typically has a delay of up to three months due to the timing of financial information received from the investments held by the GCM PEREI Funds. The Company records its share of capital contributions to and distributions from the GCM PEREI Funds within investments in the Condensed Consolidated Statements of Financial Condition during the three-month lag period. To the extent that management is aware of material events that affect the GCM PEREI Funds during the intervening period, the impact of the events would be disclosed in the notes to the Condensed Consolidated Statements of Financial Condition. Equity-Based Compensation The Company accounts for grants of equity-based awards, including restricted stock units (“RSUs”), at fair value as of the grant date. Each RSU represents the right to receive payment in the form of one share of Class A common stock or an amount equal to the market value of one share of Class A common stock. Holders of unvested RSUs do not have the right to vote with the underlying shares of Class A common stock, but are entitled to accrue dividend equivalents, which are generally paid in cash when such RSUs are delivered. The Company recognizes non-cash compensation expense attributable to these grants on a straight-line basis over the requisite service period, which is generally the vesting period. Expenses related to grants of equity-based awards are recorded within employee compensation and benefits in the Condensed Consolidated Statements of Income and within additional paid-in capital and noncontrolling interests in GCMH in the Condensed Consolidated Statements of Financial Condition . The fair value of RSUs is determined by the closing stock price on the grant date. Awards the Company intends to settle in cash are classified as liabilities within employee related obligations in the Condensed Consolidated Statements of Financial Condition and are subsequently remeasured to the closing stock price as of each reporting date through the payment date with the changes in fair value recorded within employee compensation and benefits in the Condensed Consolidated Statements of Income . Forfeitures of equity-based awards are recognized as they occur. See Note 12 for additional information regarding the Company’s equity-based compensation. Recently Issued Accounting Standards In January 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-01, Reference Rate Reform (Topic 848) and in March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) . The amendments in these updates provide optional guidance for a limited amount of time to ease the burden on companies in accounting for reference rate reform. The amendments also clarify that the optional expedients and exceptions apply to derivatives that are being implemented as part of the market-wide transition to new reference rates. The method of adoption varies for the updates included in the ASUs. The Company is currently evaluating the impact on its consolidated financial statements upon adoption of the reference rate reform standards. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which modifies ASC 740 to simplify the accounting for income taxes. The guidance, among other changes, (i) provides a policy election to not allocate consolidated income taxes when a member of a consolidated tax return is not subject to income tax and (ii) provides guidance to evaluate whether a step-up in tax basis of goodwill relates to a business combination in which book goodwill was recognized or a separate transaction. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2020. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted. The Company will defer adoption until the guidance is effective for non-public entities, as the Company currently qualifies as an EGC and has elected to take advantage of the extended transition period afforded to EGCs as it applies to the adoption of new accounting standards. The method of adoption varies for the updates included in the ASU. The Company is currently evaluating the impact on its consolidated financial statements upon adoption of this standard. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities , which reduces the cost and complexity of financial reporting associated with consolidation of VIEs. The amendment provides that indirect interests held through related parties in common control arrangements should be considered on a proportional basis for determining whether fees paid to decision makers and service providers are variable interests. The amendments in this ASU are effective for public business entities with fiscal years beginning after December 15, 2019 and interim periods within those reporting periods, and effective for non-public entities with fiscal years beginning after December 15, 2020 and interim periods within fiscal years beginning after December 15, 2021, with early adoption permitted. The Company adopted this standard on July 1, 2021 under a prospective approach. The adoption did not have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The standard previously required an entity to perform a two-step test to determine the amount, if any, of goodwill impairment. The new guidance removes step two of the previous calculation and instead, an entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. An entity will apply the new guidance on a prospective basis. Early adoption is permitted for annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company early adopted this standard on April 1, 2021 under a prospective approach. The adoption did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments . ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. This guidance is for public business entities that are an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, with fiscal years beginning after December 15, 2019. On March 9, 2020, the FASB extended the adoption date for all other entities to annual periods beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company is evaluating this guidance but currently expects that adoption will not have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires that operating leases be recorded as assets and liabilities in the statement of financial position, among other changes. The amendments in this ASU are effective

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business Combination On November 17, 2020, the Company consummated a business combination pursuant to the definitive Transaction Agreement dated as of August 2, 2020, by and among CFAC, IntermediateCo, CF Sponsor, Holdings, Management LLC, Holdings II, GCMHGP LLC, GCM V and the Company (the “Transaction”). The Transaction was treated as a transaction between entities under common control. Following the consummation of the Transaction, GCMG indirectly holds general partnership and limited partnership interests in GCMH. The structure of the Transaction is an “Up-C” structure with the owners of GCMH retaining their ownership in GCMH.

Mosaic Transaction

Mosaic Transaction	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Mosaic Transaction	Mosaic Transaction Prior to Amendment and Exercise of Mosaic Call Right Effective January 1, 2020, the Partnership and several subsidiaries, (collectively, the “Seller”) entered into a Purchase and Sale Agreement (“Agreement”) and issued certain limited partnership interests in several subsidiaries (“Carry Plan Entities”) to Mosaic Acquisitions 2020, L.P. (“Mosaic”). In addition, Mosaic also acquired the rights to receive a percentage of carried interest from certain GCM Funds and agreed to provide additional funding under certain circumstances up to a maximum amount as defined in the Agreement (collectively, the “Mosaic Transaction”). Mosaic issued Class A and Class B equity interests to GCMH, Holdings and Mosaic Feeder, L.P. (“Mosaic Feeder”). The Partnership served as the general partner of Mosaic, which was consolidated as the Partnership holds a controlling financial interest in Mosaic. Mosaic Feeder was beneficially owned by Lakeshore Investments GP, LLC (“Lakeshore”), a related party, and an unaffiliated third-party investor (“Mosaic Counterparty”) and was not consolidated. The consideration transferred by Mosaic Counterparty to the Seller for the interests acquired was $125.4 million. In addition, the Seller received an additional $48.0 million to fund future investment commitments. Additionally, the Seller could be required to pay additional amounts as long as Mosaic Feeder has an ownership interest in the transferred interests (“Potential Payments”) based on cash flow up to the relevant dates as defined in the Agreement that could total up to a maximum of $19.9 million, which was broken down as a maximum of $4.9 million on December 31, 2020, $7.5 million on December 31, 2021 and $7.5 million on December 31, 2022. GCMH made a payment of $4.9 million on December 31, 2020 . Such amounts were eligible to be reduced (not below zero) by exceeding certain cumulative distribution thresholds at each relevant date. In addition, any such amounts paid to Mosaic would also reduce, on a dollar-for-dollar basis, the purchase price payable upon exercise of the Put Option. On December 31, 2020, the Company paid $2.6 million to Mosaic Feeder for the right, but not the obligation, to require Mosaic Feeder to sell to GCMH all of the Class A and Class B equity interests held by Mosaic Feeder in Mosaic (the “Mosaic Call Right”) for a purchase price equal to the greater of 1.3x its investment or a 12% internal rate of return on its investment. Further, Mosaic Counterparty had the right, but not the obligation, to require the Partnership to acquire all of the Class A and Class B Interests held by Mosaic Feeder in Mosaic (the “Put Option”) for a purchase price equal to Mosaic Counterparty receiving the greater of 1.3x of its investment or a 12% internal rate of return on its investment (the “Put Price”). The Put Option could only be exercised if a Triggering Event as defined in the Agreement occurred, which management had deemed to be remote. If the Partnership declined to pay the Put Price, Mosaic Counterparty may either step in and act as the general partner of Mosaic and control Mosaic until Mosaic Counterparty recoups the Put Price or effect a transfer of the underlying assets of Mosaic to Mosaic Counterparty. Management determined that the Mosaic Transaction should be evaluated under the guidance in ASC 810 and concluded that Mosaic was accounted for as a VIE. The Partnership was deemed the primary beneficiary and therefore consolidated Mosaic. In addition, the Partnership concluded that the Put Option was embedded in an equity host contract but did not meet the net settlement criterion of an embedded derivative and therefore no separate accounting was required. However, as the Put Option was not solely within the control of the Partnership, the noncontrolling interest related to Mosaic had been classified as mezzanine equity. The total assets of Mosaic were $101.4 million as of December 31, 2020, and were recorded within cash and cash equivalents and investments in the Company’s Condensed Consolidated Statements of Financial Condition. Mosaic had no liabilities as of December 31, 2020. The assets of Mosaic were only to be used to settle obligations of Mosaic, if any. In addition, there was no recourse to the Partnership for Mosaic’s liabilities, except for certain entities in which there could be a clawback of previously distributed carried interest. Amendment and Exercise of Mosaic Call Right

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue For the three and nine months ended September 30, 2021 and 2020, revenues consisted of the following: Three Months Ended Nine Months Ended Management fees 2021 2020 2021 2020 Management fees, net $ 85,521 $ 76,105 $ 248,826 $ 225,141 Fund expense reimbursement revenue 2,275 2,164 7,189 5,965 Management fees $ 87,796 $ 78,269 $ 256,015 $ 231,106 Three Months Ended Nine Months Ended Incentive fees 2021 2020 2021 2020 Performance fees $ 316 $ 884 $ 9,320 $ 1,621 Carried interest 28,862 20,890 70,299 36,427 Total incentive fees $ 29,178 $ 21,774 $ 79,619 $ 38,048 The Company recognized revenues during the three and nine months ended September 30, 2021 of $0.6 million and $2.3 million, respectively, compared with $0.0 million and $0.7 million during the three and nine months ended September 30, 2020, respectively, that were previously received and deferred at the beginning of the respective periods.

Investments

Investments	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments Investments consist of the following: As of September 30, 2021 December 31, 2020 Equity method investments $ 202,815 $ 165,095 Other investments 1,178 1,178 Total investments $ 203,993 $ 166,273 As of September 30, 2021 and December 31, 2020, the Company held investments of $204.0 million and $166.3 million, respectively, of which $91.0 million and $161.9 million were owned by noncontrolling interest holders, respectively. Future net income (loss) and cash flow from investments held by noncontrolling interest holders will not be attributable to the Company. The decrease in investments held by noncontrolling interest holders from December 31, 2020 to September 30, 2021 is primarily a result of the exercise of the amended Mosaic Call Right on July 2, 2021 and purchase of the interest held in Mosaic from Mosaic Counterparty, as described in Note 4. The purchase of the interest held in Mosaic from Mosaic Counterparty resulted in investments carried at approximately $96.8 million as of July 2, 2021 being held by the Company instead of redeemable noncontrolling interests.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis and level of inputs used for such measurements as of September 30, 2021 and December 31, 2020: Fair Value as of September 30, 2021 Level 1 Level 2 Level 3 Total Assets Money market funds $ 36,204 $ — $ — $ 36,204 Interest rate derivatives — 92 — 92 Total assets $ 36,204 $ 92 $ — $ 36,296 Liabilities Public warrants $ 39,872 $ — $ — $ 39,872 Private warrants — — 2,016 2,016 Interest rate derivatives — 218 — 218 Total liabilities $ 39,872 $ 218 $ 2,016 $ 42,106 Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Assets Money market funds $ 149,553 $ — $ — $ 149,553 Total assets $ 149,553 $ — $ — $ 149,553 Liabilities Interest rate derivatives $ — $ 28,442 $ — $ 28,442 Public warrants 36,421 — — 36,421 Private warrants — — 6,372 6,372 Total liabilities $ 36,421 $ 28,442 $ 6,372 $ 71,235 Money market funds are valued using quoted market prices and are included in cash and cash equivalents in the Condensed Consolidated Statements of Financial Condition. Management determines the fair value of its interest rate derivative agreements based on the present value of expected future cash flows based on observable future LIBOR rates applicable to each swap contract using linear interpolation, inclusive of the risk of non-performance, using a discount rate appropriate for the duration. The public warrants are valued using quoted market prices on the Nasdaq Stock Market LLC under the ticker GCMGW. Management determines the fair value of the private placement warrants (“private warrants”) using a binomial option valuation model (“Valuation Model”). The private warrants were classified as Level 3 as of both September 30, 2021 and December 31, 2020 because of the use of significant unobservable inputs in the Valuation Model as follows: September 30, 2021 December 31, 2020 Risk-free interest rate 0.78 % 0.35 % Expected term (years) 4.1 4.9 Expected volatility 30 % 16 % The Company’s use of the Valuation Model required the following assumptions: • The risk-free interest rate was based on the term-matched U.S. Treasury rate, which was commensurate with the remaining contractual maximum term of the private warrants, which expi re on the earlier of five years after the completion of the Transaction or liquidation of the Company. An increase in the risk-free interest rate, in isolation, would result in an increase in the fair value measurement of the private warrant liabilities. • The expected term utilized was commensurate with the remaining contractual maximum term of the private warrants, which expire on the earlier of five years after the completion of the Transa ction or liquidation of the Company. A decrease in the expected term, in isolation, would result in an decrease in the fair value measurement of the private warrant liabilities. • The expected volatility was based on consideration of the implied volatility from the Company’s publicly-traded warrants and the historical and implied volatility of the Company’s publicly-traded industry peers. An increase in the expected volatility, in isolation, would result in an increase in the fair value measurement of the private warrant liabilities. The resulting valuations for the private warrants were determined to be $2.24 and $2.36 per unit as of September 30, 2021 and December 31, 2020, respectively. The resulting fair value of $2.0 million and $6.4 million was recorded within warrant liabilities in the Condensed Consolidated Statements of Financial Condition as of September 30, 2021 and December 31, 2020, respectively. During the nine months ended September 30, 2021, 1,800,000 private warrants were transferred between external third-parties and converted to public warrants upon transfer. See Note 9 for additional information regarding the warrant activity for the three and nine months ended September 30, 2021 . The following table presents changes in Level 3 liabilities measured at fair value for the three and nine months ended September 30, 2021: Three Months Ended Nine Months Ended Balance at beginning of period $ (1,557) $ (6,372) Transfer out of Level 3 — 2,952 Change in fair value (459) 1,404 Balance at end of period $ (2,016) $ (2,016)

Equity

Equity	3 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Equity	EquityThe following table shows a rollforward of the common stock outstanding since December 31, 2020: Class A common stock Class B common stock Class C common stock December 31, 2020 40,835,093 — 144,235,246 Exercise of warrants 1,793,903 — — Net shares delivered for vested RSUs 1,393,135 — — September 30, 2021 44,022,131 — 144,235,246 Dividends are reflected in the Condensed Consolidated Statements of Equity (Deficit) when declared by the Board of Directors. The table below summarizes dividends declared to date during 2021: Declaration Date Dividend per Common Share Record Date Payment Date January 4, 2021 $0.06 March 1, 2021 March 15, 2021 February 25, 2021 $0.08 June 1, 2021 June 15, 2021 August 6, 2021 $0.09 September 1, 2021 September 15, 2021 November 8, 2021 $0.10 December 1, 2021 December 15, 2021 Dividend equivalent payments of $0.7 million were accrued for holders of RSUs for the nine months ended September 30, 2021. Distributions to partners represent distributions made to GCMH Equityholders.

Warrants

Warrants	9 Months Ended
	Sep. 30, 2021
Other Liabilities Disclosure [Abstract]
Warrants	Warrants The following table shows public and private warrants outstanding for the three and nine months ended September 30, 2021: Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Public Warrants Private Warrants Total Public Warrants Private Warrants Total Outstanding, beginning of period 20,279,664 900,000 21,179,664 20,273,567 2,700,000 22,973,567 Exercises of warrants — — — (1,793,903) — (1,793,903) Transfer in (out) — — — 1,800,000 (1,800,000) — Repurchases (243,395) — (243,395) (243,395) — (243,395) Outstanding, end of period 20,036,269 900,000 20,936,269 20,036,269 900,000 20,936,269 During the three months ended September 30, 2021, no public warrants were exercised. During the nine months ended September 30, 2021, 1,793,903 public warrants were exercised, resulting in $20.6 million of proceeds. Pursuant to the stock repurchase plan described in Note 8, during the three and nine months ended September 30, 2021, the Company repurchased 243,395 public warrants for $0.4 million, or an average of $1.85 per warrant.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities The Company consolidates certain VIEs in which it is determined that the Company is the primary beneficiary. The Company holds variable interests in certain entities that are VIEs which are not consolidated, as it is determined that the Company is not the primary beneficiary. The Company’s involvement with such entities is generally in the form of direct equity interests in, and fee arrangements with, the entities in which it also serves as the general partner or managing member. The Company evaluated its variable interests in the VIEs and determined it is not considered the primary beneficiary of the entities primarily because it does not have interests in the entities that could potentially be significant. No reconsideration events that caused a change in the Company’s consolidation conclusions occurred during either the nine months ended September 30, 2021 or the year ended December 31, 2020. As of September 30, 2021 and December 31, 2020, the total unfunded commitments from the special limited partner and general partners to the unconsolidated VIEs were $29.2 million and $32.8 million, respectively. These commitments are the primary source of financing for the unconsolidated VIEs. The following table sets forth certain information regarding the VIEs in which the Company holds a variable interest but does not consolidate. The assets recognized on the Company’s Condensed Consolidated Statements of Financial Condition related to the Company’s interests in and management, incentive fees and third party costs receivables from these non-consolidated VIEs and the Company’s maximum exposure to loss relating to non-consolidated VIEs as of September 30, 2021 and December 31, 2020 were as follows: As of September 30, 2021 December 31, 2020 Investments $ 91,334 $ 77,511 Receivables 21,542 14,322 Maximum exposure to loss $ 112,876 $ 91,833 The above table includes investments in VIEs which are owned by noncontrolling interest holders of approximately $53.0 million and $77.4 million as of September 30, 2021 and December 31, 2020, respectively. The decrease in investments in VIEs which are owned by noncontrolling interest holders from December 31, 2020 to September 30, 2021 is primarily a result of the exercise of the amended Mosaic Call Right on July 2, 2021 and purchase of the interest held in Mosaic from Mosaic Counterparty, as described in Note 4. The purchase of the interest held in Mosaic from Mosaic Counterparty resulted in investments in VIEs carried at approximately $33.5 million as of June 30, 2021 (prior to the purchase) being held by the Company instead of redeemable noncontrolling interest holders following July 2, 2021.

Employee Compensation and Benef

Employee Compensation and Benefits	9 Months Ended
	Sep. 30, 2021
Compensation Related Costs [Abstract]
Employee Compensation and Benefits	Employee Compensation and Benefits For the three and nine months ended September 30, 2021 and 2020, employee compensation and benefits consisted of the following: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Cash-based employee compensation and benefits $ 39,792 $ 40,133 $ 122,629 $ 122,775 Equity-based compensation 5,878 — 38,518 — Partnership interest-based compensation 6,029 21,605 20,958 38,381 Carried interest compensation 16,708 12,442 41,164 21,943 Cash-based incentive fee related compensation 3,380 — 6,081 — Other non-cash compensation 1,080 1,135 2,704 3,360 Total employee compensation and benefits $ 72,867 $ 75,315 $ 232,054 $ 186,459 Partnership Interest in Holdings, Holdings II and Management LLC Payments to the employees for partnership interest awards are made by Holdings, Holdings II and Management LLC. As a result, the Company records a non-cash profits interest compensation charge and an offsetting deemed contribution to equity (deficit) to reflect the payments made by the GCMH Equityholders. As the payments are made by Holdings, Holdings II and Management LLC, the expense that is pushed down to GCMH and the offsetting deemed contribution are each attributed solely to noncontrolling interest in GCMH. Any liability related to the awards is recognized at Holdings, Holdings II or Management LLC as Holdings, Holdings II or Management LLC is the party responsible for satisfying the obligation, and is not shown in the Company’s Condensed Consolidated Financial Statements. The Company has recorded deemed contributions to equity (deficit) from Holdings, Holdings II and Management LLC of approximately $6.0 million and $21.6 million for the three months ended September 30, 2021 and 2020, respectively, and $21.0 million and $38.4 million for the nine months ended September 30, 2021 and 2020, respectively, for partnership interest-based compensation expense which will ultimately be paid by Holdings, Holdings II or Management LLC. The Company has modified awards to certain individuals upon their voluntary retirement or intention to retire as employees. These awards generally include a stated target amount that, upon payment, terminates the recipient’s rights to future distributions and allows for a lump sum buy-out of the awards, at the discretion of the managing member of Holdings, Holdings II, and Management LLC. The awards are accounted for as partnership interest-based compensation at the fair value of these expected future payments, in the period the employees accepted the offer. Partnership interest-based compensation expense related to award modifications of $1.6 million and $15.6 million was recognized for the three months ended September 30, 2021 and 2020, respectively, and $4.7 million and $22.3 million was recognized for the nine months ended September 30, 2021 and 2020, respectively. The liability associated with awards that contain a stated target has been retained by Holdings as of September 30, 2021 and December 31, 2020 and is re-measured at each reporting date, with any corresponding changes in liability being reflected as employee compensation and benefits expense of the Company. Certain recipients had unvested stated target payments of $7.8 million and $3.1 million as of September 30, 2021 and 2020, respectively, which has not been reflected as employee compensation and benefits expense by the Company. The Company recognized partnership interest-based compensation expense of $4.5 million and $6.0 million for the three months ended September 30, 2021 and 2020, respectively, and $16.3 million and $16.1 million for the nine months ended September 30, 2021 and 2020, respectively, related to profits interest awards that are in substance profit-sharing arrangements. Other Other consists of employee compensation and benefits expense related to deferred compensation programs and other awards that represent investments made in GCM Funds on behalf of the employees.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Equity-Based Compensation	Equity-Based Compensation 2020 Incentive Award Plan During February 2021, the Company adopted the 2020 Incentive Award Plan, which allows for the granting of stock options, stock appreciation rights, restricted stock awards, restricted stock units, and other stock or cash based awards or dividend equivalent awards to employees, directors and consultants. Restricted Stock Units During March 2021, the Company granted 4.8 million RSUs to certain employees and directors as part of the bonus program and in connection with the Transaction. Of the RSUs granted, the Company intends to settle less than 0.1 million RSUs in cash. The RSUs had an aggregate grant date fair value of $62.1 million. Of the 4.8 million RSUs granted, 2.0 million vested at the grant date and 2.8 million vest over two years in equal annual installments. Upon delivery, which is expected to occur each August following each annual vesting in March, the Company may withhold the number of shares to satisfy the statutory withholding tax obligation and deliver the net number of resulting shares vested. In addition to the March 2021 grant, an additional 0.3 million RSUs with an aggregate grant date fair value o f $3.6 million were granted to certain employees during the nine months ended September 30, 2021. A summary of non-vested RSU activity for the nine months ended September 30, 2021 is as follows: Number of RSUs Weighted-Average Grant-Date Fair Value Per RSU Balance as of December 31, 2020 — $ — Granted 5,100,407 12.88 Vested (2,052,182) 12.92 Forfeited (8,001) 13.04 Balance as of September 30, 2021 3,040,224 $ 12.86 The total fair value of RSUs that vested during the nine months ended September 30, 2021 was $26.5 million. For the three and nine months ended September 30, 2021, $5.9 million and $38.5 million of compensation expense related to the RSUs was recorded within employee compensation and benefits in the Condensed Consolidated Statements of Income, respectively. As of September 30, 2021, total unrecognized compensation expense related to unvested RSUs was $27.6 million and is expected to be recognized over the remaining weighted average period of 1.6 years. The total tax benefit recognized related to the delivered RSUs for the nine months ended September 30, 2021 was $1.3 million.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt The table below summarizes the outstanding debt balance as of September 30, 2021 and December 31, 2020. As of September 30, 2021 December 31, 2020 Senior loan $ 398,000 $ 340,259 Less debt issuance costs (6,766) (5,104) Total debt $ 391,234 $ 335,155 Maturities of debt for the next five years and thereafter are as follows: Year Ending December 31, Remainder of 2021 $ 1,000 2022 4,000 2023 4,000 2024 4,000 2025 4,000 Thereafter 381,000 Total $ 398,000 Senior Loan On January 2, 2014, the Company entered into a senior secured term loan facility (“Senior Loan”), which was subsequently amended through several debt modifications. On February 24, 2021, the Company completed an amendment and extension of its Senior Loan to further extend the maturity (“Amended Credit Agreement”). Approximately $290.0 million of the aggregate principal amount of the Senior Loan was extended from a maturity date of March 29, 2025 (the “2025 Term Loans”) to a maturity date of February 24, 2028 , (as extended, the “2028 Term Loans”). The 2028 Term Loans have an interest rate of 2.50% over the LIBOR, subject to a 0.50% LIBOR floor. Concurrently with the effectiveness of the Amended Credit Agreement, the Company made a voluntary prepayment on the Senior Loan in an aggregate principal amount of $50.3 million. As a result of the prepayment in February 2021, the Company recorded an expense of $0.7 million related to the acceleration of deferred debt issuance costs, which is recorded within other income (expense) in the Condensed Consolidated Statements of Income for the nine months ended September 30, 2021. The Company capitalized $0.9 million of issuances costs related to payments to lenders in connection with the amendment and extension of its Senior Loan, which is recorded within debt in the Condensed Consolidated Statements of Financial Condition, and expensed $2.6 million of third-party costs related to the amendment which is recorded within general, administrative and other in the Condensed Consolidated Statements of Income for the nine months ended September 30, 2021. On June 23, 2021, the Company further amended its Senior Loan to increase the aggregate principal amount from $290.0 million to $400.0 million (as increased, the “Incremental 2028 Term Loans”). The Company capitalized $2.2 million of issuance costs related to payments to lenders in connection with the Incremental 2028 Term Loans, which is recorded within debt in the Condensed Consolidated Statements of Financial Condition. Quarterly principal payments of $1.0 million are required to be made toward the Incremental 2028 Term Loans beginning June 30, 2021 (less any reduction for prior or future voluntary or mandatory prepayments of principal). In addition to the scheduled principal repayments, the Company is required to offer to make prepayments of Consolidated Excess Cash Flow (“Cash Flow Payments”) no later than five days following the date the quarterly financial statements are due if the leverage ratio exceeds 2.50x. The Cash Flow Payments were calculated as defined in the Senior Loan agreement based on a percentage of calculated excess cash. During the three and nine months ended September 30, 2021, the Company did not make any Cash Flow Payments. As of September 30, 2021 and December 31, 2020, $398.0 million of Incremental 2028 Term Loans and $340.3 million of 2025 Term Loans were outstanding. The weighted average interest rates were 3.25% and 3.98% for the nine months ended September 30, 2021 and 2020, respectively. Under the credit and guaranty agreement governing the terms of the Senior Loan, the Company must maintain certain leverage and interest coverage ratios. The credit and guaranty agreement also contains other covenants that, among other things, restrict the ability of the Company and its subsidiaries to incur debt and restrict the Company and its subsidiaries ability to merge or consolidate, or sell or convey all or substantially all of the Company’s assets. As of September 30, 2021 and December 31, 2020, the Company was in compliance with all covenants. GCMH Equityholders and IntermediateCo have executed a pledge agreement (“Pledge Agreement”) and security agreement (“Security Agreement”) with the lenders of the Senior Loan. Under the Pledge Agreement, GCMH Equityholders and IntermediateCo have agreed to secure the obligations under the Senior Loan by pledging its interests in GCMH as collateral against the repayment of the senior secured notes, and GCMH has agreed to secure the obligations under the Senior Loan by granting a security interest in and continuing lien on the collateral described in the Security Agreement. The Pledge Agreement and Security Agreement will remain in effect until such time as all obligations relating to the Senior Loan have been fulfilled. Credit Facility Concurrent with the issuance of the Senior Loan, the Company entered into a $50.0 million revolving credit facility (“Credit Facility”). The Credit Facility matures on February 24, 2026 and carries an unused commitment fee that is paid quarterly. There were no outstanding borrowings related to the Credit Facility as of each of September 30, 2021 and December 31, 2020. Other Certain subsidiaries of the Company agree to jointly and severally guarantee, as primary obligor and not merely as surety guarantee the obligations of their parent entity, GCMH. Amortization of deferred costs was $0.2 million and $0.3 million for the three months ended September 30, 2021 and 2020, respectively, and $0.7 million and $1.0 million for the nine months ended September 30, 2021 and 2020, respectively. These amounts are recorded within interest expense in the Condensed Consolidated Statements of Income. The carrying value of the Senior Loan, excluding the unamortized debt issuance costs presented as a reduction to the principal balance, approximated the fair value as of September 30, 2021 and December 31, 2020 . As the Senior Loan was not accounted for at fair value, it was not included in the Company’s fair value hierarchy in Note 7,

Interest Rate Derivatives

Interest Rate Derivatives	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Derivatives	Interest Rate Derivatives The Company has entered into various derivative agreements with financial institutions to hedge interest rate risk related to its outstanding debt. The Company had the following interest rate derivatives recorded as an asset within other assets and as a liability within accrued expenses and other liabilities, respectively, in the Condensed Consolidated Statements of Financial Condition as of September 30, 2021 and December 31, 2020: As of September 30, 2021 Derivative Notional Amount Fair Value as of September 30, 2021 Fixed Rate Paid Floating Rate Received Effective Date (2) Maturity Date Interest rate swap $ 232,000 $ 92 1.33 % 1 month LIBOR (1) March 2021 February 2028 Interest rate swap 68,000 (218) 1.39 % 1 month LIBOR (1) July 2021 February 2028 $ (126) ____________ (1) Floating rate received subject to a 0.50% Floor (2) Represents the date at which the derivative is in effect and the Company is contractually required to begin payment of interest under the terms of the agreement. As of December 31, 2020 Derivative Notional Amount Fair Value as of December 31, 2020 Fixed Rate Paid Floating Rate Received Effective Date (3) Maturity Date Interest rate swap $ 225,000 $ (11,163) 2.48 % 1 month LIBOR (1) January 2020 February 2023 Interest rate swap 75,000 (4,654) 3.05 % 1 month LIBOR (1) January 2020 February 2023 Interest rate collar 300,000 (12,625) 3.70 % 1 month LIBOR (2) February 2023 February 2025 $ (28,442) ____________ (1) Floating rate received subject to a 0.00% Floor (2) Floating rate received subject to a 2.45% Floor (3) Represents the date at which the derivative is in effect and the Company is contractually required to begin payment of interest under the terms of the agreement. A rollforward of the amounts in accumulated other comprehensive income (loss) (“AOCI”) related to interest rate derivatives designated as cash flow hedges as follows: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Derivative loss at beginning of period, gross $ (9,819) $ (13,566) $ (11,163) $ (6,933) Cumulative-effect adjustment from adoption of ASU 2017-12 — — — 650 Amount recognized in other comprehensive income (loss) (13) (226) (1,633) (9,069) Amount reclassified from accumulated other comprehensive loss to interest expense 2,018 1,329 4,982 2,889 Derivative loss at end of period (7,814) (12,463) (7,814) (12,463) Less: Loss attributable to noncontrolling interests in GCMH (6,171) — (6,171) — Derivative loss at end of period, net $ (1,643) $ (12,463) $ (1,643) $ (12,463) The amount of gain (loss) related to interest rate contracts not designated as hedging instruments was recognized as follows: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Other income (expense) $ — $ 378 $ 1,934 $ (9,673) On February 24, 2021, the Company terminated all outstanding derivative instruments. The amount previously recorded as a hedge in AOCI remains in AOCI and is recorded in interest expense within the Condensed Consolidated Statements of Income over the original life of the swap. Effective on March 1, 2021 , the Company entered into a swap agreement (“2028 Swap Agreement”) to hedge interest rate risk related to payments made during the extended maturity of the 2028 Term Loans that has a notional amount of $232.0 million. The 2028 Swap Agreement and 2028 Term Loans have a 0.50% LIBOR floor. The swap was determined to be an effective cash flow hedge at inception based on a comparison of critical terms. Effective on July 1, 2021 , the Company entered into a swap agreement (“2028 Incremental Swap Agreement”) to hedge interest rate risk related to payments made for the increase in aggregate principal amount of the Incremental 2028 Term Loans that has a notional amount of $68.0 million. The 2028 Incremental Swap Agreement and Incremental 2028 Term Loans have a 0.50% LIBOR floor. The swap was determined to be an effective cash flow hedge at inception based on a comparison of critical terms. The fair values of the interest rate swaps and interest rate collar are based on observable market inputs and represent the net amount required to terminate the positions, taking into consideration market rates and non-performance risk. Refer to Note 7 for further details.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company was required to pay a fixed management fee of $0.5 million per year for a five year period that commenced in 2019 pursuant to its 12.5% interest in an aircraft. On March 11, 2021, GCMH entered into an agreement to assign 50% of its 12.5% share interest in an aircraft to Holdings, for cash consideration of approximately $1.3 million. The Company is now required to pay a fixed management fee of $0.3 million per year. The Company had $82.8 million and $81.8 million of unfunded investment commitments as of September 30, 2021 and December 31, 2020, respectively, representing general partner capital funding commitments to several of the GCM Funds. As of December 31, 2020, $32.1 million received in the Mosaic Transaction was available to fund such commitments. Refer to Note 4 for a discussion of the Company’s exercise of the amended Mosaic Call Right on July 2, 2021. Litigation In the normal course of business, the Company may enter into contracts that contain a number of representations and warranties, which may provide for general or specific indemnifications. The Company’s exposure under these contracts is not currently known, as any such exposure would be based on future claims, which could be made against the Company. The Company’s management is not currently aware of any such pending claims and based on its experience, the Company believes the risk of loss related to these arrangements to be remote. From time to time, the Company is a defendant in various lawsuits related to its business. The Company’s management does not believe that the outcome of any current litigation will have a material effect on the Company’s consolidated financial condition or results of operations. Off-Balance Sheet Risks The Company may be exposed to a risk of loss by virtue of certain subsidiaries serving as the general partner of GCM Funds organized as limited partnerships. As general partner of a GCM Fund organized as a limited partnership, the Company’s subsidiaries that serve as the general partner have exposure to risk of loss that is not limited to the amount of its investment in such GCM Fund. The Company cannot predict the amount of loss, if any, which may occur as a result of this exposure; however, historically, the Company has not incurred any significant losses and management believes the likelihood is remote that a material loss will occur.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Parties	Related Parties In regard to the following related party disclosures, the Company’s management cannot be sure that such transactions or arrangements would be the same to the Company if the parties involved were unrelated and such differences could be material. The Company provides certain employees partnership interest awards which are paid by Holdings, Holdings II and Management LLC. Refer to Note 11 for further details. The Company has a sublease agreement with Holdings. Because the terms of the sublease are identical to the terms of the original lease, there is no impact to net income (loss) in the Condensed Consolidated Statements of Income or Condensed Consolidated Statements of Cash Flows. The Company incurs certain costs, primarily related to accounting, client reporting, investment-decision making and treasury-related expenditures, for which it receives reimbursement from the GCM Funds in connection with its performance obligations to provide investment management services. Due from related parties in the Condensed Consolidated Statements of Financial Condition includes net receivables of approximately $9.4 million and $11.2 million as of September 30, 2021 and December 31, 2020, respectively, paid on behalf of affiliated entities that are reimbursable to the Company. Our executive officers, senior professionals, and certain current and former employees and their families invest on a discretionary basis in GCM Funds, and such investments are generally not subject to management fees and performance fees. As of September 30, 2021 and December 31, 2020, such investments and future commitments were $489.8 million and $426.7 million in aggregate, respectively. Certain employees of the Company have an economic interest in an entity that is the owner and landlord of the building in which the principal headquarters of the Company are located. The Company utilizes the services of an insurance broker to procure insurance coverage, including its general commercial package policy, workers’ compensation and professional and management liability coverage for its directors and officers. Certain members of Holdings have an economic interest in, and relatives are employed by, the Company’s insurance broker. From time to time, certain of the Company’s executive officers utilize a private business aircraft, including an aircraft wholly owned or controlled by members of Holdings. Additionally, the Company arranges for the use of the private business aircraft through a number of charter services, including entities predominantly or wholly owned or controlled by members of Holdings. The Company paid, net of reimbursements, approximately $0.2 million and $0.0 million for the three months ended September 30, 2021 and 2020, respectively, and $0.8 million and $0.4 million for the nine months ended September 30, 2021 and 2020, respectively, to utilize aircraft and charter services wholly owned or controlled by members of Holdings, which is recorded within general, administrative and other in the Condensed Consolidated Statements of Income.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate used for interim periods is based on the tax effect of items recorded discretely in the interim period in which those items occur. The effective tax rate is dependent on many factors, including the estimated amount of income subject to income tax and allocation of tax benefit to noncontrolling interest; therefore, the effective tax rate can vary from period to period. The Company evaluates the realizability of its deferred tax asset on a quarterly basis and adjusts the valuation allowance when it is expected a portion of the deferred tax asset may not be realized. The Company’s effective tax rate was 10% and 5% for the three months ended September 30, 2021 and 2020, respectively, and 6% and 49% for the nine months ended September 30, 2021 and 2020, respectively. These rates were different than the statutory rate primarily due to the portion of income allocated to the noncontrolling entities, valuation allowance recorded against deferred tax assets and discrete tax adjustments recorded in the periods. As of September 30, 2021, the Company had no unrecognized tax positions and believes there will be no changes to uncertain tax positions within the next 12 months.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company analyzed the calculation of earnings (loss) per share for periods prior to the Transaction as described in Note 3 , and determined that it resulted in values that would not be meaningful to the users of the consolidated financial statements. Therefore, earnings (loss) per share information has not been presented for periods prior to the Transaction on November 17, 2020. The following is a reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2021: Three Months Ended Nine Months Ended Numerator for earnings per share calculation: Net income attributable to GCM Grosvenor Inc., basic $ 4,056 $ 7,259 Exercise of private warrants — (303) Exchange of Partnership units 2,221 (1,754) Assumed vesting of RSUs — 2 Net income attributable to common stockholders, diluted 6,277 5,204 Denominator for earnings per share calculation: Weighted-average shares, basic 44,387,598 43,673,347 Exercise of private warrants - incremental shares under the treasury stock method — 120,083 Exchange of Partnership units 144,235,246 144,235,246 Assumed vesting of RSUs - incremental shares under the treasury stock method 254,233 107,522 Weighted-average shares, diluted 188,877,077 188,136,198 Basic EPS Net income attributable to common stockholders, basic $ 4,056 $ 7,259 Weighted-average shares, basic 44,387,598 43,673,347 Net income per share attributable to common stockholders, basic $ 0.09 $ 0.17 Diluted EPS Net income attributable to common stockholders, diluted $ 6,277 $ 5,204 Weighted-average shares, diluted 188,877,077 188,136,198 Net income per share attributable to common stockholders, diluted $ 0.03 $ 0.03 Shares of the Company’s Class C common stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, a separate presentation of basic and diluted earnings per share of Class C common stock under the two-class method has not been presented. The following outstanding potentially dilutive securities as of September 30, 2021 were excluded from the calculations of diluted earnings per share attributable to common stockholders because their impact would have been antidilutive for the periods presented: Three Months Ended Nine Months Ended Public warrants 20,036,269 20,036,269 Private warrants 900,000 —

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events Pursuant to the stock repurchase plan described in Note 8, f rom October 1, 2021 through November 12, 2021, the Company repurchased an additional 112,059 public warrants for $0.2 million, or an average of $1.90 per warrant. On November 8, 2021, the Company declared a quarterly dividend of $0.10 per share of Class A common stock to record holders as of the close of business on December 1, 2021. The payment date will be December 15, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. In the opinion of management, all necessary adjustments (which consists of only normal recurring items) have been made to fairly present the Condensed Consolidated Financial Statements for the interim periods presented. Results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as amended, filed with the Securities and Exchange Commission (“SEC”). The Company is an “emerging growth company” (“EGC”), as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), following the consummation of the merger of CFAC and the Company. The Company has elected to use this extended transition period for complying with new or revised accounting standards pursuant to Section 102(b)(1) of the JOBS Act that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition periods provided by the JOBS Act. As result of this election, its consolidated financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.
Fair Value Measurements	Fair Value Measurements The Company categorizes its fair value measurements according to a three-level hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are defined as follows: • Level 1 – Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date; • Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active; and • Level 3 – Inputs that are unobservable. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. The carrying amounts of cash and cash equivalents and fees receivable approximate fair value due to the immediate or short-term maturity of these financial instruments.
Investments	Investments The Company’s investments in the GCM Funds investing in private equity, real estate and infrastructure (“GCM PEREI Funds”) are valued based on the most recent available information, which typically has a delay of up to three months due to the timing of financial information received from the investments held by the GCM PEREI Funds. The Company records its share of capital contributions to and distributions from the GCM PEREI Funds within investments in the Condensed Consolidated Statements of Financial Condition during the three-month lag period. To the extent that management is aware of material events that affect the GCM PEREI Funds during the intervening period, the impact of the events would be disclosed in the notes to the Condensed Consolidated Statements of Financial Condition.
Equity-Based Compensation	Equity-Based Compensation The Company accounts for grants of equity-based awards, including restricted stock units (“RSUs”), at fair value as of the grant date. Each RSU represents the right to receive payment in the form of one share of Class A common stock or an amount equal to the market value of one share of Class A common stock. Holders of unvested RSUs do not have the right to vote with the underlying shares of Class A common stock, but are entitled to accrue dividend equivalents, which are generally paid in cash when such RSUs are delivered. The Company recognizes non-cash compensation expense attributable to these grants on a straight-line basis over the requisite service period, which is generally the vesting period. Expenses related to grants of equity-based awards are recorded within employee compensation and benefits in the Condensed Consolidated Statements of Income and within additional paid-in capital and noncontrolling interests in GCMH in the Condensed Consolidated Statements of Financial Condition . The fair value of RSUs is determined by the closing stock price on the grant date. Awards the Company intends to settle in cash are classified as liabilities within employee related obligations in the Condensed Consolidated Statements of Financial Condition and are subsequently remeasured to the closing stock price as of each reporting date through the payment date with the changes in fair value recorded within employee compensation and benefits in the Condensed Consolidated Statements of Income . Forfeitures of equity-based awards are recognized as they occur. See Note 12 for additional information regarding the Company’s equity-based compensation.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In January 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-01, Reference Rate Reform (Topic 848) and in March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) . The amendments in these updates provide optional guidance for a limited amount of time to ease the burden on companies in accounting for reference rate reform. The amendments also clarify that the optional expedients and exceptions apply to derivatives that are being implemented as part of the market-wide transition to new reference rates. The method of adoption varies for the updates included in the ASUs. The Company is currently evaluating the impact on its consolidated financial statements upon adoption of the reference rate reform standards. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which modifies ASC 740 to simplify the accounting for income taxes. The guidance, among other changes, (i) provides a policy election to not allocate consolidated income taxes when a member of a consolidated tax return is not subject to income tax and (ii) provides guidance to evaluate whether a step-up in tax basis of goodwill relates to a business combination in which book goodwill was recognized or a separate transaction. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2020. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted. The Company will defer adoption until the guidance is effective for non-public entities, as the Company currently qualifies as an EGC and has elected to take advantage of the extended transition period afforded to EGCs as it applies to the adoption of new accounting standards. The method of adoption varies for the updates included in the ASU. The Company is currently evaluating the impact on its consolidated financial statements upon adoption of this standard. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities , which reduces the cost and complexity of financial reporting associated with consolidation of VIEs. The amendment provides that indirect interests held through related parties in common control arrangements should be considered on a proportional basis for determining whether fees paid to decision makers and service providers are variable interests. The amendments in this ASU are effective for public business entities with fiscal years beginning after December 15, 2019 and interim periods within those reporting periods, and effective for non-public entities with fiscal years beginning after December 15, 2020 and interim periods within fiscal years beginning after December 15, 2021, with early adoption permitted. The Company adopted this standard on July 1, 2021 under a prospective approach. The adoption did not have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The standard previously required an entity to perform a two-step test to determine the amount, if any, of goodwill impairment. The new guidance removes step two of the previous calculation and instead, an entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. An entity will apply the new guidance on a prospective basis. Early adoption is permitted for annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company early adopted this standard on April 1, 2021 under a prospective approach. The adoption did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments . ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. This guidance is for public business entities that are an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, with fiscal years beginning after December 15, 2019. On March 9, 2020, the FASB extended the adoption date for all other entities to annual periods beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company is evaluating this guidance but currently expects that adoption will not have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires that operating leases be recorded as assets and liabilities in the statement of financial position, among other changes. The amendments in this ASU are effective

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Summary of Disaggregation of Revenue	For the three and nine months ended September 30, 2021 and 2020, revenues consisted of the following: Three Months Ended Nine Months Ended Management fees 2021 2020 2021 2020 Management fees, net $ 85,521 $ 76,105 $ 248,826 $ 225,141 Fund expense reimbursement revenue 2,275 2,164 7,189 5,965 Management fees $ 87,796 $ 78,269 $ 256,015 $ 231,106 Three Months Ended Nine Months Ended Incentive fees 2021 2020 2021 2020 Performance fees $ 316 $ 884 $ 9,320 $ 1,621 Carried interest 28,862 20,890 70,299 36,427 Total incentive fees $ 29,178 $ 21,774 $ 79,619 $ 38,048

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Components of Investments	Investments consist of the following: As of September 30, 2021 December 31, 2020 Equity method investments $ 202,815 $ 165,095 Other investments 1,178 1,178 Total investments $ 203,993 $ 166,273

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities, Measured at Fair Value	The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis and level of inputs used for such measurements as of September 30, 2021 and December 31, 2020: Fair Value as of September 30, 2021 Level 1 Level 2 Level 3 Total Assets Money market funds $ 36,204 $ — $ — $ 36,204 Interest rate derivatives — 92 — 92 Total assets $ 36,204 $ 92 $ — $ 36,296 Liabilities Public warrants $ 39,872 $ — $ — $ 39,872 Private warrants — — 2,016 2,016 Interest rate derivatives — 218 — 218 Total liabilities $ 39,872 $ 218 $ 2,016 $ 42,106 Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Assets Money market funds $ 149,553 $ — $ — $ 149,553 Total assets $ 149,553 $ — $ — $ 149,553 Liabilities Interest rate derivatives $ — $ 28,442 $ — $ 28,442 Public warrants 36,421 — — 36,421 Private warrants — — 6,372 6,372 Total liabilities $ 36,421 $ 28,442 $ 6,372 $ 71,235
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The private warrants were classified as Level 3 as of both September 30, 2021 and December 31, 2020 because of the use of significant unobservable inputs in the Valuation Model as follows: September 30, 2021 December 31, 2020 Risk-free interest rate 0.78 % 0.35 % Expected term (years) 4.1 4.9 Expected volatility 30 % 16 %
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents changes in Level 3 liabilities measured at fair value for the three and nine months ended September 30, 2021: Three Months Ended Nine Months Ended Balance at beginning of period $ (1,557) $ (6,372) Transfer out of Level 3 — 2,952 Change in fair value (459) 1,404 Balance at end of period $ (2,016) $ (2,016)

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Stock by Class	The following table shows a rollforward of the common stock outstanding since December 31, 2020: Class A common stock Class B common stock Class C common stock December 31, 2020 40,835,093 — 144,235,246 Exercise of warrants 1,793,903 — — Net shares delivered for vested RSUs 1,393,135 — — September 30, 2021 44,022,131 — 144,235,246
Schedule of Dividends Declared	The table below summarizes dividends declared to date during 2021: Declaration Date Dividend per Common Share Record Date Payment Date January 4, 2021 $0.06 March 1, 2021 March 15, 2021 February 25, 2021 $0.08 June 1, 2021 June 15, 2021 August 6, 2021 $0.09 September 1, 2021 September 15, 2021 November 8, 2021 $0.10 December 1, 2021 December 15, 2021

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Sep. 30, 2021
Other Liabilities Disclosure [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights	The following table shows public and private warrants outstanding for the three and nine months ended September 30, 2021: Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Public Warrants Private Warrants Total Public Warrants Private Warrants Total Outstanding, beginning of period 20,279,664 900,000 21,179,664 20,273,567 2,700,000 22,973,567 Exercises of warrants — — — (1,793,903) — (1,793,903) Transfer in (out) — — — 1,800,000 (1,800,000) — Repurchases (243,395) — (243,395) (243,395) — (243,395) Outstanding, end of period 20,036,269 900,000 20,936,269 20,036,269 900,000 20,936,269

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Maximum Exposure to Loss Relating to Non-consolidated VIEs	The following table sets forth certain information regarding the VIEs in which the Company holds a variable interest but does not consolidate. The assets recognized on the Company’s Condensed Consolidated Statements of Financial Condition related to the Company’s interests in and management, incentive fees and third party costs receivables from these non-consolidated VIEs and the Company’s maximum exposure to loss relating to non-consolidated VIEs as of September 30, 2021 and December 31, 2020 were as follows: As of September 30, 2021 December 31, 2020 Investments $ 91,334 $ 77,511 Receivables 21,542 14,322 Maximum exposure to loss $ 112,876 $ 91,833

Employee Compensation and Ben_2

Employee Compensation and Benefits (Tables)	9 Months Ended
	Sep. 30, 2021
Compensation Related Costs [Abstract]
Schedule of Employee Compensation and Benefits	Three Months Ended Nine Months Ended 2021 2020 2021 2020 Cash-based employee compensation and benefits $ 39,792 $ 40,133 $ 122,629 $ 122,775 Equity-based compensation 5,878 — 38,518 — Partnership interest-based compensation 6,029 21,605 20,958 38,381 Carried interest compensation 16,708 12,442 41,164 21,943 Cash-based incentive fee related compensation 3,380 — 6,081 — Other non-cash compensation 1,080 1,135 2,704 3,360 Total employee compensation and benefits $ 72,867 $ 75,315 $ 232,054 $ 186,459

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	A summary of non-vested RSU activity for the nine months ended September 30, 2021 is as follows: Number of RSUs Weighted-Average Grant-Date Fair Value Per RSU Balance as of December 31, 2020 — $ — Granted 5,100,407 12.88 Vested (2,052,182) 12.92 Forfeited (8,001) 13.04 Balance as of September 30, 2021 3,040,224 $ 12.86

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Outstanding Debt Balance	The table below summarizes the outstanding debt balance as of September 30, 2021 and December 31, 2020. As of September 30, 2021 December 31, 2020 Senior loan $ 398,000 $ 340,259 Less debt issuance costs (6,766) (5,104) Total debt $ 391,234 $ 335,155
Schedule of Maturities of Long-term Debt	Maturities of debt for the next five years and thereafter are as follows: Year Ending December 31, Remainder of 2021 $ 1,000 2022 4,000 2023 4,000 2024 4,000 2025 4,000 Thereafter 381,000 Total $ 398,000

Interest Rate Derivatives (Tabl

Interest Rate Derivatives (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives Recorded as Derivative Liability	As of September 30, 2021 Derivative Notional Amount Fair Value as of September 30, 2021 Fixed Rate Paid Floating Rate Received Effective Date (2) Maturity Date Interest rate swap $ 232,000 $ 92 1.33 % 1 month LIBOR (1) March 2021 February 2028 Interest rate swap 68,000 (218) 1.39 % 1 month LIBOR (1) July 2021 February 2028 $ (126) ____________ (1) Floating rate received subject to a 0.50% Floor (2) Represents the date at which the derivative is in effect and the Company is contractually required to begin payment of interest under the terms of the agreement. As of December 31, 2020 Derivative Notional Amount Fair Value as of December 31, 2020 Fixed Rate Paid Floating Rate Received Effective Date (3) Maturity Date Interest rate swap $ 225,000 $ (11,163) 2.48 % 1 month LIBOR (1) January 2020 February 2023 Interest rate swap 75,000 (4,654) 3.05 % 1 month LIBOR (1) January 2020 February 2023 Interest rate collar 300,000 (12,625) 3.70 % 1 month LIBOR (2) February 2023 February 2025 $ (28,442) ____________ (1) Floating rate received subject to a 0.00% Floor (2) Floating rate received subject to a 2.45% Floor (3) Represents the date at which the derivative is in effect and the Company is contractually required to begin payment of interest under the terms of the agreement.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	A rollforward of the amounts in accumulated other comprehensive income (loss) (“AOCI”) related to interest rate derivatives designated as cash flow hedges as follows: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Derivative loss at beginning of period, gross $ (9,819) $ (13,566) $ (11,163) $ (6,933) Cumulative-effect adjustment from adoption of ASU 2017-12 — — — 650 Amount recognized in other comprehensive income (loss) (13) (226) (1,633) (9,069) Amount reclassified from accumulated other comprehensive loss to interest expense 2,018 1,329 4,982 2,889 Derivative loss at end of period (7,814) (12,463) (7,814) (12,463) Less: Loss attributable to noncontrolling interests in GCMH (6,171) — (6,171) — Derivative loss at end of period, net $ (1,643) $ (12,463) $ (1,643) $ (12,463)
Schedule of Derivative Instruments, Gain (Loss)	The amount of gain (loss) related to interest rate contracts not designated as hedging instruments was recognized as follows: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Other income (expense) $ — $ 378 $ 1,934 $ (9,673)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic and Diluted Earnings (Loss) Per Share	The following is a reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2021: Three Months Ended Nine Months Ended Numerator for earnings per share calculation: Net income attributable to GCM Grosvenor Inc., basic $ 4,056 $ 7,259 Exercise of private warrants — (303) Exchange of Partnership units 2,221 (1,754) Assumed vesting of RSUs — 2 Net income attributable to common stockholders, diluted 6,277 5,204 Denominator for earnings per share calculation: Weighted-average shares, basic 44,387,598 43,673,347 Exercise of private warrants - incremental shares under the treasury stock method — 120,083 Exchange of Partnership units 144,235,246 144,235,246 Assumed vesting of RSUs - incremental shares under the treasury stock method 254,233 107,522 Weighted-average shares, diluted 188,877,077 188,136,198 Basic EPS Net income attributable to common stockholders, basic $ 4,056 $ 7,259 Weighted-average shares, basic 44,387,598 43,673,347 Net income per share attributable to common stockholders, basic $ 0.09 $ 0.17 Diluted EPS Net income attributable to common stockholders, diluted $ 6,277 $ 5,204 Weighted-average shares, diluted 188,877,077 188,136,198 Net income per share attributable to common stockholders, diluted $ 0.03 $ 0.03
Schedule of Outstanding Potentially Dilutive Securities Excluded from Calculation of Diluted Earnings (Loss) Per Share	The following outstanding potentially dilutive securities as of September 30, 2021 were excluded from the calculations of diluted earnings per share attributable to common stockholders because their impact would have been antidilutive for the periods presented: Three Months Ended Nine Months Ended Public warrants 20,036,269 20,036,269 Private warrants 900,000 —

Organization (Details)

Organization (Details)	Sep. 30, 2021	Dec. 31, 2020
GCMH
Finite-Lived Intangible Assets [Line Items]
Ownership percentage by parent	23.40%	22.10%

Mosaic Transaction (Details)

Mosaic Transaction (Details)	Jul. 02, 2021USD ($)	Jan. 01, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Jul. 15, 2021
Variable Interest Entity [Line Items]
Proceeds from noncontrolling interests transferred		$ 125,400,000		$ 2,569,000	$ 176,921,000
Proceeds received to fund future investment commitments		48,000,000				$ 32,100,000
Maximum potential payment		$ 19,900,000
Potential payments						4,900,000
Total assets			$ 512,883,000	512,883,000		632,278,000
Total liabilities			623,033,000	623,033,000		599,347,000
Option indexed to issuer's equity decrease In purchase price ratio									1.225
Option indexed to issuer's equity purchase price net	$ 165,000,000
Consolidated cash of acquired redeemable noncontrolling interest	$ 19,500,000
Equity transaction with Mosaic			$ (61,495,000)	$ (61,495,000)	$ 60,935,000
Forecast
Variable Interest Entity [Line Items]
Potential payments							$ 7,500,000	$ 7,500,000
Call Right
Variable Interest Entity [Line Items]
Payments for call right						2,600,000
Purchase price ratio		1.3
Internal rate of return, percentage		12.00%
Put Option | Mosaic Counterparty
Variable Interest Entity [Line Items]
Purchase price ratio		1.3
Internal rate of return, percentage		12.00%
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Total assets						101,400,000
Total liabilities						$ 0

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 118,075	$ 101,746	$ 340,997	$ 274,493
Management fees
Disaggregation of Revenue [Line Items]
Revenue	87,796	78,269	256,015	231,106
Management fees, net
Disaggregation of Revenue [Line Items]
Revenue	85,521	76,105	248,826	225,141
Fund expense reimbursement revenue
Disaggregation of Revenue [Line Items]
Revenue	2,275	2,164	7,189	5,965
Total incentive fees
Disaggregation of Revenue [Line Items]
Revenue	29,178	21,774	79,619	38,048
Performance fees
Disaggregation of Revenue [Line Items]
Revenue	316	884	9,320	1,621
Carried interest
Disaggregation of Revenue [Line Items]
Revenue	$ 28,862	$ 20,890	$ 70,299	$ 36,427

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 0.6	$ 0	$ 2.3	$ 0.7

Investments - Components of Inv

Investments - Components of Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity method investments	$ 202,815	$ 165,095
Other investments	1,178	1,178
Total investments	$ 203,993	$ 166,273

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jul. 02, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Total investments	$ 203,993		$ 166,273
Mosaic Counterparty
Schedule of Equity Method Investments [Line Items]
Total investments		$ 96,800
Noncontrolling Interests
Schedule of Equity Method Investments [Line Items]
Total investments	$ 91,000		$ 161,900

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Money market funds	$ 36,204	$ 149,553
Interest rate derivatives	92
Total assets	36,296	149,553
Liabilities
Warrant liabilities	41,888	42,793
Interest rate derivatives	218	28,442
Total liabilities	42,106	71,235
Public warrants
Liabilities
Warrant liabilities	39,872	36,421
Private warrants
Liabilities
Warrant liabilities	2,016	6,372
Level 1
Assets
Money market funds	36,204	149,553
Interest rate derivatives	0
Total assets	36,204	149,553
Liabilities
Interest rate derivatives	0	0
Total liabilities	39,872	36,421
Level 1 | Public warrants
Liabilities
Warrant liabilities	39,872	36,421
Level 1 | Private warrants
Liabilities
Warrant liabilities	0	0
Level 2
Assets
Money market funds	0	0
Interest rate derivatives	92
Total assets	92	0
Liabilities
Interest rate derivatives	218	28,442
Total liabilities	218	28,442
Level 2 | Public warrants
Liabilities
Warrant liabilities	0	0
Level 2 | Private warrants
Liabilities
Warrant liabilities	0	0
Level 3
Assets
Money market funds	0	0
Interest rate derivatives	0
Total assets	0	0
Liabilities
Interest rate derivatives	0	0
Total liabilities	2,016	6,372
Level 3 | Public warrants
Liabilities
Warrant liabilities	0	0
Level 3 | Private warrants
Liabilities
Warrant liabilities	$ 2,016	$ 6,372

Fair Value Measurements - Measu

Fair Value Measurements - Measurement Inputs (Details)	Sep. 30, 2021	Dec. 31, 2020	Nov. 17, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected term (years)			5 years
Level 3 | Measurement Input, Risk Free Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.0078	0.0035
Level 3 | Measurement Input, Expected Term
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected term (years)	4 years 1 month 6 days	4 years 10 months 24 days
Level 3 | Measurement Input, Price Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.30	0.16

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Nov. 17, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected term (years)			5 years
Warrant liabilities	$ 41,888	$ 42,793
Private warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value (in dollars per warrant)	$ 2.24	$ 2.36
Warrant liabilities	$ 2,016	$ 6,372
Public warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 39,872	$ 36,421
Public warrants | Private Placement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of shares called by securities transferred (in shares)	1,800

Fair Value Measurements (as res

Fair Value Measurements (as restated) - Level 3 Roll Forward (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ (1,557)	$ (6,372)
Transfer out of Level 3	0	2,952
Change in fair value	(459)	1,404
Balance at end of period	$ (2,016)	$ (2,016)

Equity - Schedule of Common Sto

Equity - Schedule of Common Stock Outstanding (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of warrants (in shares)	0	1,793,903
Class A common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock outstanding, beginning balance (in shares)		40,835,093
Exercise of warrants (in shares)		1,793,903
Common stock outstanding, ending balance (in shares)	44,022,131	44,022,131
Class A common stock | Restricted Stock Units (RSUs)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net shares delivered for vested RSUs (in shares)		1,393,135
Class B common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock outstanding, beginning balance (in shares)		0
Exercise of warrants (in shares)		0
Common stock outstanding, ending balance (in shares)	0	0
Class B common stock | Restricted Stock Units (RSUs)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net shares delivered for vested RSUs (in shares)		0
Class C common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock outstanding, beginning balance (in shares)		144,235,246
Exercise of warrants (in shares)		0
Common stock outstanding, ending balance (in shares)	144,235,246	144,235,246
Class C common stock | Restricted Stock Units (RSUs)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net shares delivered for vested RSUs (in shares)		0

Equity - Dividends Declared (De

Equity - Dividends Declared (Details) - Class A common stock - $ / shares	Nov. 08, 2021	Aug. 06, 2021	Feb. 25, 2021	Jan. 04, 2021
Class of Stock [Line Items]
Common stock, dividends declared (in dollars per share)		$ 0.09	$ 0.08	$ 0.06
Subsequent Event
Class of Stock [Line Items]
Common stock, dividends declared (in dollars per share)	$ 0.10

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Aug. 06, 2021
Class of Stock [Line Items]
Dividends accrued	$ 4,235,000	$ 10,791,000
Payments from repurchase of warrants		450,000	$ 0
Stock repurchase program, remaining authorized repurchase amount	17,700,000	17,700,000
Public warrants
Class of Stock [Line Items]
Payments from repurchase of warrants	$ 400,000	400,000
Class A common stock
Class of Stock [Line Items]
Stock repurchased during period (in shares)	612,173
Stock redeemed or called during period, value	$ 6,900,000
Class A Common Stock And Warrants
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 25,000,000
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Dividends accrued		$ 700,000

Warrants - Public Warrants and

Warrants - Public Warrants and Private Warrants Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Movements of Class of Warrants Outstanding [Roll Forward]
Outstanding, beginning of period (in shares)	21,179,664	22,973,567
Exercises of warrants (in shares)	0	(1,793,903)
Transfer in (out) (in shares)	0	0
Repurchase (in shares)	(243,395)	(243,395)
Outstanding, end of period (in shares)	20,936,269	20,936,269
Proceeds from exercise of warrants		$ 24,468	$ 0
Class of warrant or right per warrant	$ 1.85	$ 1.85
Class A common stock
Movements of Class of Warrants Outstanding [Roll Forward]
Exercises of warrants (in shares)		(1,793,903)
Public warrants
Movements of Class of Warrants Outstanding [Roll Forward]
Outstanding, beginning of period (in shares)	20,279,664	20,273,567
Exercises of warrants (in shares)	0	(1,793,903)
Transfer in (out) (in shares)	0	1,800,000
Repurchase (in shares)	(243,395)	(243,395)
Outstanding, end of period (in shares)	20,036,269	20,036,269
Proceeds from exercise of warrants		$ 20,600
Public warrants | Class A common stock
Movements of Class of Warrants Outstanding [Roll Forward]
Exercises of warrants (in shares)	0
Private warrants
Movements of Class of Warrants Outstanding [Roll Forward]
Outstanding, beginning of period (in shares)	900,000	2,700,000
Exercises of warrants (in shares)	0	0
Transfer in (out) (in shares)	0	(1,800,000)
Repurchase (in shares)	0	0
Outstanding, end of period (in shares)	900,000	900,000

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Noncontrolling Interests | Call Right | Mosaic Counterparty
Variable Interest Entity [Line Items]
Investments		$ 33,500
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investments	$ 91,334		$ 77,511
Variable Interest Entity, Not Primary Beneficiary | Noncontrolling Interests
Variable Interest Entity [Line Items]
Investments	53,000		77,400
Unfunded Commitments
Variable Interest Entity [Line Items]
Commitment amount	82,800		81,800
Unfunded Commitments | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Commitment amount	$ 29,200		$ 32,800

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of VIEs (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investments	$ 91,334	$ 77,511
Receivables	21,542	14,322
Maximum exposure to loss	$ 112,876	$ 91,833

Employee Compensation and Ben_3

Employee Compensation and Benefits - Employee Compensation and Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Compensation Related Costs [Abstract]
Cash-based employee compensation and benefits	$ 39,792	$ 40,133	$ 122,629	$ 122,775
Equity-based compensation	5,878	0	38,518	0
Partnership interest-based compensation	6,029	21,605	20,958	38,381
Carried interest compensation	16,708	12,442	41,164	21,943
Cash-based incentive fee related compensation	3,380	0	6,081	0
Other non-cash compensation	1,080	1,135	2,704	3,360
Total employee compensation and benefits	$ 72,867	$ 75,315	$ 232,054	$ 186,459

Employee Compensation and Ben_4

Employee Compensation and Benefits - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Compensation Related Costs [Abstract]
Partnership interest-based compensation	$ 6,029	$ 21,605	$ 20,958	$ 38,381
Interest-based compensation, award modifications	1,600	15,600	4,700	22,300
Unvested stated target payments	7,800	3,100	7,800	3,100
Interest-based compensation expense, profit interest	$ 4,500	$ 6,000	$ 16,300	$ 16,100

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation		$ 5,878	$ 0	$ 38,518	$ 0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted (in shares)	4,800,000			5,100,407
RSUs, settled in cash (in shares)	100,000
Aggregate grant date fair value	$ 62,100
Vested in period (in shares)	2,000,000			2,052,182
Nonvested awards (in shares)	2,800,000	3,040,224		3,040,224		0
Award vesting period	2 years
Vested in period, fair value				$ 26,500
Equity-based compensation		$ 5,900		38,500
Cost not yet recognized		$ 27,600		$ 27,600
Period for recognition				1 year 7 months 6 days
Share-based Payment Arrangement, Expense, Tax Benefit				$ 1,300
Restricted Stock Units (RSUs) | Certain Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted (in shares)				300,000
Aggregate grant date fair value				$ 3,600

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	1 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021
Number of RSUs
Beginning balance (in shares)		0
RSUs granted (in shares)	4,800,000	5,100,407
Vested in period (in shares)	(2,000,000)	(2,052,182)
Forfeited (in shares)		(8,001)
Ending balance (in shares)	2,800,000	3,040,224
Weighted-Average Grant-Date Fair Value Per RSU
Beginning balance (in dollars per share)		$ 0
Granted (in dollars per share)		12.88
Vested (in dollars per share)		12.92
Forfeited (in dollars per share)		13.04
Ending balance (in dollars per share)		$ 12.86

Debt - Schedule of Debt Outstan

Debt - Schedule of Debt Outstanding (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, gross	$ 398,000
Less debt issuance costs	(6,766)	$ (5,104)
Total debt	391,234	335,155
Senior loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 398,000	$ 340,259

Debt - Maturities of Debt (Deta

Debt - Maturities of Debt (Details) $ in Thousands	Sep. 30, 2021USD ($)
Debt Disclosure [Abstract]
Remainder of 2021	$ 1,000
2022	4,000
2023	4,000
2024	4,000
2025	4,000
Thereafter	381,000
Total	$ 398,000

Debt - Additional Information (

Debt - Additional Information (Details)	Jun. 23, 2021USD ($)	Feb. 28, 2021USD ($)	Feb. 24, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Jan. 02, 2014USD ($)
Debt Instrument [Line Items]
Principal payments on senior loan						$ 52,259,000	$ 91,195,000
Debt issuance costs, net				$ 6,766,000		6,766,000		$ 5,104,000
Amortization of debt issuance costs				200,000	$ 300,000	743,000	$ 1,014,000
Long-term debt, gross				$ 398,000,000		$ 398,000,000
Amended Term Loan Facility Due February 24, 2028, Amendment 2
Debt Instrument [Line Items]
Periodic principal payment	$ 1,000,000
Senior loan
Debt Instrument [Line Items]
Prepayment deadline following quarterly financial statement if leverage ratio exceeds 2.50						5 days
Maximum leverage ratio				2.50		2.50
Long-term debt, gross				$ 398,000,000		$ 398,000,000		340,259,000
Senior loan | Amended 2028 Term Loans
Debt Instrument [Line Items]
Face amount			$ 290,000,000
Long-term debt, gross				398,000,000		398,000,000
Senior loan | Amended 2028 Term Loans | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			2.50%
Debt, LIBOR floor			0.50%
Senior loan | Amended Term Loan Facility Due February 24, 2028, Amendment 1
Debt Instrument [Line Items]
Principal payments on senior loan		$ 50,300,000
Accelerated debt issuance expense						700,000
Debt issuance costs, net				$ 900,000		900,000
Amortization of debt issuance costs						$ 2,600,000
Senior loan | Amended Term Loan Facility Due February 24, 2028, Amendment 2
Debt Instrument [Line Items]
Face amount	400,000,000
Debt issuance costs, net	$ 2,200,000
Senior loan | Amended 2025 Term Loans
Debt Instrument [Line Items]
Long-term debt, gross								$ 340,300,000
Weighted average interest rate				3.25%		3.25%		3.98%
Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity									$ 50,000,000
Line of credit outstanding				$ 0		$ 0		$ 0

Interest Rate Derivatives - Sch

Interest Rate Derivatives - Schedule of Derivative Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Fair Value	$ 92
Fair Value	(218)	$ (28,442)
Fair value, net	(126)	$ (28,442)
Interest Rate Swap, 1.33%
Derivative [Line Items]
Notional Amount	232,000
Fair Value	$ 92
Fixed Rate Paid	1.33%
Derivative, LIBOR floor	0.50%
Interest Rate Swap, 1.39%
Derivative [Line Items]
Notional Amount	$ 68,000
Notional Amount	68,000
Fair Value	$ (218)
Fixed Rate Paid	1.39%
Derivative, LIBOR floor	0.50%
Interest Rate Swap, 2.48% and 3.05%
Derivative [Line Items]
Derivative, LIBOR floor		0.00%
Interest Rate Swap, 2.48%
Derivative [Line Items]
Notional Amount		$ 225,000
Fair Value		$ (11,163)
Fixed Rate Paid		2.48%
Interest Rate Swap, 3.05%
Derivative [Line Items]
Notional Amount		$ 75,000
Fair Value		$ (4,654)
Fixed Rate Paid		3.05%
Interest rate collar
Derivative [Line Items]
Notional Amount		$ 300,000
Fair Value		$ (12,625)
Fixed Rate Paid		3.70%
Derivative, LIBOR floor		2.45%

Interest Rate Derivatives - Eff

Interest Rate Derivatives - Effect on Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative [Roll Forward]
Beginning balance	$ (49,818)		$ (82,190)
Ending balance	(110,150)		(110,150)
Total GCM Grosvenor Inc. deficit	(37,604)		(37,604)		$ (29,342)
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Derivative [Roll Forward]
Beginning balance	(9,819)	$ (13,566)	(11,163)	$ (6,933)
Amount recognized in other comprehensive income (loss)	(13)	(226)	(1,633)	(9,069)
Amount reclassified from accumulated other comprehensive loss to interest expense	2,018	1,329	4,982	2,889
Ending balance	(7,814)	(12,463)	(7,814)	(12,463)
Less: Loss attributable to noncontrolling interests in GCMH	(6,171)	0	(6,171)	0
Total GCM Grosvenor Inc. deficit	(1,643)	(12,463)	(1,643)	(12,463)
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest | Cumulative Effect, Period of Adoption, Adjustment
Derivative [Roll Forward]
Beginning balance	$ 0	$ 0	$ 0	$ 650

Interest Rate Derivatives - Gai

Interest Rate Derivatives - Gain (Loss) Recognized in Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest Rate Contract | Other income (expense)
Derivative [Line Items]
Other income (expense)	$ 0	$ 378	$ 1,934	$ (9,673)

Interest Rate Derivatives - Add

Interest Rate Derivatives - Additional Information (Details) $ in Thousands	Sep. 30, 2021USD ($)
Interest Rate Swap, 1.33%
Derivative [Line Items]
Notional Amount	$ 232,000
Derivative, LIBOR floor	0.50%
Interest Rate Swap, 1.39%
Derivative [Line Items]
Notional Amount	$ 68,000
Derivative, LIBOR floor	0.50%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Mar. 11, 2021	Mar. 10, 2021	Jan. 01, 2020	Aug. 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Loss Contingencies [Line Items]
Consideration received from assignment to partner					$ 1,337	$ 0
Proceeds received to fund future investment commitments			$ 48,000				$ 32,100
Fixed Management Fee
Loss Contingencies [Line Items]
Annual management fee		$ 500			300
Management fee duration		5 years
Unfunded Commitments
Loss Contingencies [Line Items]
Commitment amount					$ 82,800		$ 81,800
Air Transportation Equipment
Loss Contingencies [Line Items]
Percent of asset acquired		12.50%
Air Transportation Equipment | GCMH
Loss Contingencies [Line Items]
Percent of asset ownership assigned to partner	50.00%
Percent of asset ownership interest				12.50%
Consideration received from assignment to partner	$ 1,300

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Net receivables from related parties	$ 9.4		$ 9.4		$ 11.2
Management
Related Party Transaction [Line Items]
Investment balance of related party	489.8		489.8		$ 426.7
Affiliated Entity | Aircraft Utilization | GCMH
Related Party Transaction [Line Items]
Amounts of transaction	$ 0.2	$ 0	$ 0.8	$ 0.4

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	10.00%	5.00%	6.00%	49.00%

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator for earnings per share calculation:
Net income attributable to GCM Grosvenor Inc., basic		$ 4,056	$ 0	$ 7,259	$ 0
Assumed vesting of RSUs		0		2
Net income attributable to common stockholders, diluted		$ 6,277		$ 5,204
Denominator for earnings per share calculation:
Weighted-average shares, basic (in shares)	[1]	44,387,598	0	43,673,347	0
Exchange of Partnership units (in shares)		144,235,246		144,235,246
Assumed vesting of RSUs - incremental shares under the treasury stock method (in shares)		254,233		107,522
Diluted (in shares)	[1]	188,877,077	0	188,136,198	0
Basic EPS
Net income attributable to common stockholders, basic		$ 4,056		$ 7,259
Weighted-average shares, basic (in shares)	[1]	44,387,598	0	43,673,347	0
Net income per share attributable to common stockholders, basic (in dollars per share)	[1]	$ 0.09	$ 0	$ 0.17	$ 0
Diluted EPS
Net income attributable to common stockholders, diluted		$ 6,277		$ 5,204
Weighted-average shares, diluted (in shares)	[1]	188,877,077	0	188,136,198	0
Net income per share attributable to common stockholders, diluted (in dollars per share)	[1]	$ 0.03	$ 0	$ 0.03	$ 0
Private warrants
Numerator for earnings per share calculation:
Exercise of warrants		$ 0		$ (303)
Denominator for earnings per share calculation:
Exercise of warrants - incremental shares under the treasury stock method (in shares)		0		120,083
Partnership Units
Numerator for earnings per share calculation:
Exercise of warrants		$ 2,221		$ (1,754)
[1]	There were no shares of Class A common stock outstanding prior to November 17, 2020, therefore no earnings per share information has been presented for any period prior to that date.

Earnings Per Share - Potentiall

Earnings Per Share - Potentially Dilutive Securities Excluded from Calculation of EPS (Details) - Warrant - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Public warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Unvested restricted stock units (in shares)	20,036,269	20,036,269
Private warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Unvested restricted stock units (in shares)	900,000	0

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 08, 2021	Aug. 06, 2021	Feb. 25, 2021	Jan. 04, 2021	Nov. 12, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Subsequent Event [Line Items]
Repurchase (in shares)						243,395	243,395
Payments from repurchase of warrants							$ 450	$ 0
Class of warrant or right per warrant						$ 1.85	$ 1.85
Class A common stock
Subsequent Event [Line Items]
Common stock, dividends declared (in dollars per share)		$ 0.09	$ 0.08	$ 0.06
Subsequent Event
Subsequent Event [Line Items]
Repurchase (in shares)					112,059
Payments from repurchase of warrants					$ 200
Class of warrant or right per warrant					$ 1.90
Subsequent Event | Class A common stock
Subsequent Event [Line Items]
Common stock, dividends declared (in dollars per share)	$ 0.10

Uncategorized Items - gcm-20210

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2017-12 [Member]