Grosvenor Capital Management (GCMG) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 07, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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	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	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001819796
Class A 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
Entity Common Stock, Shares Outstanding		41,842,573
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 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	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 50,756	$ 85,163
Management fees receivable	19,184	18,720
Incentive fees receivable	7,230	16,478
Investments	236,014	223,970
Premises and equipment, net	4,404	4,620
Lease right-of-use assets	10,371	12,479
Intangible assets, net	3,283	3,940
Goodwill	28,959	28,959
Deferred tax assets, net	59,640	60,320
Other assets	18,716	21,165
Total assets	450,823	488,933
Liabilities and Equity (Deficit)
Accrued compensation and benefits	28,095	52,997
Employee related obligations	31,712	36,328
Debt	386,174	387,627
Lease liabilities	12,677	15,520
Warrant liabilities	5,186	7,861
Accrued expenses and other liabilities	32,501	27,240
Total liabilities	551,706	582,939
Commitments and contingencies (Note 13)
Preferred stock, $0.0001 par value, 100,000,000 shares authorized, none issued	0	0
Additional paid-in capital	1,586	0
Accumulated other comprehensive income	4,048	4,096
Retained earnings	(30,457)	(23,934)
Total GCM Grosvenor Inc. deficit	(24,805)	(19,820)
Noncontrolling interests in subsidiaries	64,954	67,900
Noncontrolling interests in GCMH	(141,032)	(142,086)
Total deficit	(100,883)	(94,006)
Total liabilities and equity (deficit)	450,823	488,933
Related Party
Assets
Due from related parties	12,266	13,119
Liabilities and Equity (Deficit)
Payable to related parties pursuant to the tax receivable agreement	55,361	55,366
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	Jun. 30, 2023	Dec. 31, 2022
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)	41,833,448	41,806,215
Common stock, outstanding (in shares)	41,833,448	41,806,215
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 (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues
Operating revenue	$ 107,613	$ 104,360	$ 206,729	$ 209,488
Expenses
Employee compensation and benefits	114,868	61,429	201,092	127,334
General, administrative and other	28,726	23,093	54,505	44,351
Total operating expenses	143,594	84,522	255,597	171,685
Operating income (loss)	(35,981)	19,838	(48,868)	37,803
Investment income (loss)	2,109	(1,197)	8,433	9,663
Interest expense	(5,682)	(5,591)	(12,337)	(10,875)
Other income	458	0	1,172	1
Change in fair value of warrant liabilities	4,895	19,640	2,674	21,662
Net other income (expense)	1,780	12,852	(58)	20,451
Income (loss) before income taxes	(34,201)	32,690	(48,926)	58,254
Provision for income taxes	2,050	2,011	2,472	4,344
Net income (loss)	(36,251)	30,679	(51,398)	53,910
Less: Net income attributable to noncontrolling interests in subsidiaries	1,396	844	4,169	5,680
Less: Net income (loss) attributable to noncontrolling interests in GCMH	(42,495)	22,230	(59,185)	35,899
Net income attributable to GCM Grosvenor Inc.	$ 4,848	$ 7,605	$ 3,618	$ 12,331
Earnings (loss) per share of Class A common stock:
Basic (in dollars per share)	$ 0.11	$ 0.17	$ 0.08	$ 0.27
Diluted (in dollars per share)	$ (0.23)	$ 0.13	$ (0.32)	$ 0.21
Weighted average shares of Class A common stock outstanding:
Basic (in shares)	43,707,111	45,118,448	43,047,388	44,857,546
Diluted (in shares)	187,942,357	189,354,138	187,282,634	189,511,545
Management fees
Revenues
Operating revenue	$ 93,564	$ 92,830	$ 185,809	$ 184,940
Incentive fees
Revenues
Operating revenue	12,996	10,505	18,811	22,497
Other operating income
Revenues
Operating revenue	$ 1,053	$ 1,025	$ 2,109	$ 2,051

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (36,251)	$ 30,679	$ (51,398)	$ 53,910
Other comprehensive income (loss), net of tax:
Net change in cash flow hedges	6,254	8,180	511	26,514
Foreign currency translation adjustment	(532)	(1,594)	(590)	(2,359)
Total other comprehensive income (loss)	5,722	6,586	(79)	24,155
Comprehensive income (loss) before noncontrolling interests	(30,529)	37,265	(51,477)	78,065
Less: Comprehensive income attributable to noncontrolling interests in subsidiaries	1,396	844	4,169	5,680
Less: Comprehensive income (loss) attributable to noncontrolling interests in GCMH	(38,074)	27,290	(59,216)	54,430
Comprehensive income attributable to GCM Grosvenor Inc.	$ 6,149	$ 9,131	$ 3,570	$ 17,955

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Deficit) - USD ($) $ in Thousands	Total	Other Noncontrolling Subsidiaries	GCM Holdings	Common Stock Class A common stock	Common Stock Class C common stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests in Subsidiaries	Noncontrolling Interests in Subsidiaries Other Noncontrolling Subsidiaries	Noncontrolling Interests in GCMH	Noncontrolling Interests in GCMH GCM Holdings
Beginning balance at Dec. 31, 2021	$ (55,801)			$ 4	$ 14	$ 1,501	$ (26,222)	$ (1,007)	$ 96,687		$ (126,778)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions from noncontrolling interests in subsidiaries	964								964
Capital distributions paid to noncontrolling interests / Partners’ distributions		$ (20,393)	$ (52,139)							$ (20,393)		$ (52,139)
Repurchase of Class A common stock	(12,458)					(2,877)	0				(9,581)
Settlement of equity-based compensation in satisfaction of withholding tax requirements	(592)					(138)					(454)
Deemed contributions	14,142										14,142
Net change in cash flow hedges	26,514							6,170			20,344
Translation adjustment	(2,359)							(546)			(1,813)
Equity-based compensation	14,407					3,345					11,062
Declared dividends	(9,458)						(9,458)
Deferred tax and other tax adjustments	(1,689)					(56)		(1,633)
Equity reallocation between controlling and non-controlling interests	0						949				(949)
Net income (loss)	53,910						12,331		5,680		35,899
Ending balance at Jun. 30, 2022	(44,952)			4	14	1,775	(22,400)	2,984	82,938		(110,267)
Beginning balance at Mar. 31, 2022	(53,301)			4	14	2,859	(26,093)	3,014	91,491		(124,590)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions from noncontrolling interests in subsidiaries	777								777
Capital distributions paid to noncontrolling interests / Partners’ distributions		(10,174)	(15,738)							(10,174)		(15,738)
Repurchase of Class A common stock	(10,017)					(2,308)	0				(7,709)
Deemed contributions	7,027										7,027
Net change in cash flow hedges	8,180							1,894			6,286
Translation adjustment	(1,594)							(368)			(1,226)
Equity-based compensation	5,509					1,271					4,238
Declared dividends	(4,697)						(4,697)
Deferred tax and other tax adjustments	(1,603)					(47)		(1,556)
Equity reallocation between controlling and non-controlling interests	0						785				(785)
Net income (loss)	30,679						7,605		844		22,230
Ending balance at Jun. 30, 2022	(44,952)			4	14	1,775	(22,400)	2,984	82,938		(110,267)
Beginning balance at Dec. 31, 2022	(94,006)			4	14	0	(23,934)	4,096	67,900		(142,086)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions from noncontrolling interests in subsidiaries	861								861
Capital distributions paid to noncontrolling interests / Partners’ distributions		(7,976)								(7,976)
Repurchase of Class A common stock	(4,478)					(1,003)					(3,475)
Settlement of equity-based compensation in satisfaction of withholding tax requirements	(3,794)					(848)					(2,946)
Deemed contributions	74,224										74,224
Net change in cash flow hedges	511							85			426
Translation adjustment	(590)							(133)			(457)
Equity-based compensation	15,341					3,434					11,907
Declared dividends	(10,134)						(10,134)
Deferred tax and other tax adjustments	3					3
Equity reallocation between controlling and non-controlling interests	0						(7)				7
Net income (loss)	(51,398)						3,618		4,169		(59,185)
Ending balance at Jun. 30, 2023	(100,883)			4	14	1,586	(30,457)	4,048	64,954		(141,032)
Beginning balance at Mar. 31, 2023	(108,074)			4	14	1,283	(29,931)	2,747	65,863		(148,054)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contributions from noncontrolling interests in subsidiaries	694								694
Capital distributions paid to noncontrolling interests / Partners’ distributions		$ (2,999)	$ (19,447)							$ (2,999)		$ (19,447)
Issuance of Class A common stock due to exercised warrants	0
Repurchase of Class A common stock	(1,145)					(257)					(888)
Deemed contributions	63,127										63,127
Net change in cash flow hedges	6,254							1,420			4,834
Translation adjustment	(532)							(119)			(413)
Equity-based compensation	2,532					570					1,962
Declared dividends	(5,032)						(5,032)
Deferred tax and other tax adjustments	(10)					(10)
Equity reallocation between controlling and non-controlling interests	0						(342)				342
Net income (loss)	(36,251)						4,848		1,396		(42,495)
Ending balance at Jun. 30, 2023	$ (100,883)			$ 4	$ 14	$ 1,586	$ (30,457)	$ 4,048	$ 64,954		$ (141,032)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income (loss)	$ (51,398,000)	$ 53,910,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	1,356,000	1,952,000
Equity-based compensation	15,341,000	14,407,000
Deferred tax income expense	672,000	1,304,000
Other non-cash compensation	534,000	836,000
Partnership interest-based compensation	74,224,000	14,142,000
Amortization of debt issuance costs	547,000	552,000
Amortization of terminated swap	(2,881,000)	2,697,000
Change in fair value of warrant liabilities	(2,674,000)	(21,662,000)
Change in payable to related parties pursuant to tax receivable agreement	(5,000)	(53,000)
Amortization of deferred rent	0	26,000
Proceeds received from investments	5,079,000	17,166,000
Non-cash investment income	(8,433,000)	(9,663,000)
Non-cash lease expense	2,993,000	2,462,000
Other	288,000	(73,000)
Change in assets and liabilities:
Management fees receivable	(401,000)	3,230,000
Incentive fees receivable	9,248,000	79,665,000
Due from related parties	853,000	1,143,000
Other assets	2,437,000	926,000
Accrued compensation and benefits	(30,411,000)	(71,987,000)
Lease liabilities	(3,725,000)	(3,305,000)
Employee related obligations	(569,000)	(188,000)
Accrued expenses and other liabilities	8,731,000	(55,000)
Net cash provided by operating activities	21,806,000	87,432,000
Cash flows from investing activities
Purchases of premises and equipment	(781,000)	(674,000)
Contributions/subscriptions to investments	(15,350,000)	(14,615,000)
Distributions from investments	6,660,000	10,500,000
Net cash used in investing activities	(9,471,000)	(4,789,000)
Cash flows from financing activities
Capital contributions received from noncontrolling interests	861,000	964,000
Capital distributions paid to partners and member	(19,447,000)	(52,139,000)
Capital distributions paid to noncontrolling interests	(7,976,000)	(20,393,000)
Principal payments on senior loan	(2,000,000)	(2,000,000)
Payments to repurchase Class A common stock	(4,478,000)	(12,458,000)
Payments to repurchase warrants	0	(2,569,000)
Settlement of equity-based compensation in satisfaction of withholding tax requirements	(3,794,000)	(592,000)
Dividends paid	(9,299,000)	(8,715,000)
Net cash used in financing activities	(46,133,000)	(97,902,000)
Effect of exchange rate changes on cash	(609,000)	(2,443,000)
Net decrease in cash and cash equivalents	(34,407,000)	(17,702,000)
Beginning of period	85,163,000	96,185,000
End of period	50,756,000	78,483,000
Supplemental disclosure of cash flow information
Cash paid during the period for interest	14,422,000	7,323,000
Cash paid during the period for income taxes, net	2,178,000	5,334,000
Supplemental disclosure of cash flow information from operating activities
Non-cash ROU assets obtained in exchange for new operating leases	2,034,000	693,000
Non-cash adjustment to operating lease right-of-use assets from lease modification	(827,000)	0
Supplemental disclosure of non-cash information from financing activities
Deemed contributions from GCMH Equityholders	74,224,000	14,142,000
Establishment of deferred tax assets, net related to tax receivable agreement and the Transaction	3,000	(56,000)
Dividends declared but not paid	$ 857,000	$ 767,000

Organization

Organization	6 Months Ended
	Jun. 30, 2023
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 and merging with CF Finance Acquisition Corp. (“CFAC”), which was 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 both June 30, 2023 and December 31, 2022 was approximately 22.5%. 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, together with GCM Progress Subsidiary LLC, the “GCMH Equityholders”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
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 six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. 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, 2022, 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. The Company’s status as an EGC will terminate on December 31, 2023. 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 primarily consist of investments in GCM Funds and other funds the Company does not control, but is deemed to exert significant influence, and are generally accounted for using the equity method of accounting. Under the equity method of accounting, the Company records its share of the underlying income or loss of such entities, which reflects the net asset value of such investments. Management believes the net asset value of the funds is representative of fair value. The resulting gains and losses are included as investment income (loss) in the Condensed Consolidated Statements of Income (Loss). The Company’s equity method 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 Financial Statements. Certain subsidiaries which hold the general partner capital interest in the GCM Funds are not wholly owned, and as such, the portion of the Company’s investments owned by limited partners in those subsidiaries are reflected within noncontrolling interests in the Condensed Consolidated Statements of Financial Condition. For certain other debt investments, the Company has elected the fair value option. Such election is irrevocable and is made at the investment level at initial recognition. The debt investments are not publicly traded and are a Level 3 fair value measurement. For investments carried at fair value, the Company records the increase or decrease in fair value as investment income in the Condensed Consolidated Statements of Income (Loss). See Note 5 for additional information regarding the Company’s other investments. Rece ntly Issued Accounting Standards In June 2016, the FASB issued Accounting Standards Update (“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. The Company adopted this standard on January 1, 2023 on a prospective basis. Adoption did not have a material impact on the Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which amends current guidance to provide optional practical expedients and

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue For the three and six months ended June 30, 2023 and 2022, management fees and incentive fees consisted of the following: Three Months Ended June 30, Six Months Ended June 30, Management fees 2023 2022 2023 2022 Management fees, net $ 89,730 $ 90,517 $ 178,668 $ 180,069 Fund expense reimbursement revenue 3,834 2,313 7,141 4,871 Total management fees $ 93,564 $ 92,830 $ 185,809 $ 184,940 Three Months Ended June 30, Six Months Ended June 30, Incentive fees 2023 2022 2023 2022 Performance fees $ 269 $ 317 $ 513 $ 1,318 Carried interest 12,727 10,188 18,298 21,179 Total incentive fees $ 12,996 $ 10,505 $ 18,811 $ 22,497 The Company recognized revenues of less than $0.1 million and $0.4 million during the three and six months ended June 30, 2022 that were previously received and deferred at the beginning of the period. The Company did not recognize revenue during the three and six months ended June 30, 2023 that was previously deferred.

Investments

Investments	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments Investments consist of the following: As of June 30, 2023 December 31, 2022 Equity method investments $ 225,138 $ 213,776 Other investments 10,876 10,194 Total investments $ 236,014 $ 223,970 As of June 30, 2023 and December 31, 2022, the Company held investments of $236.0 million and $224.0 million, respectively, of which $61.0 million and $64.9 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.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe 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 June 30, 2023 and December 31, 2022: Fair Value as of June 30, 2023 Level 1 Level 2 Level 3 Total Assets Money market funds $ 12,852 $ — $ — $ 12,852 Other investments — — 10,690 10,690 Total assets $ 12,852 $ — $ 10,690 $ 23,542 Liabilities Public warrants $ 4,872 $ — $ — $ 4,872 Private warrants — — 314 314 Interest rate derivatives — 3,034 — 3,034 Total liabilities $ 4,872 $ 3,034 $ 314 $ 8,220 Fair Value as of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Money market funds $ 36,240 $ — $ — $ 36,240 Other investments — — 10,007 10,007 Total assets $ 36,240 $ — $ 10,007 $ 46,247 Liabilities Public warrants $ 7,386 $ — $ — $ 7,386 Private warrants — — 475 475 Interest rate derivatives — 6,473 — 6,473 Total liabilities $ 7,386 $ 6,473 $ 475 $ 14,334 Money Market Funds 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. Interest Rate Derivatives Management determines the fair value of its interest rate derivative agreement based on the present value of expected future cash flows based on observable future rates applicable to each swap contract using linear interpolation, inclusive of the risk of non-performance, using a discount rate appropriate for the duration. See Note 12 for additional information regarding interest rate derivatives. Other Investments Investments in the subordinated notes of a structured alternatives investment solution are not publicly traded and are classified as Level 3. Management determines the fair value of these other investments using a discounted cash flow analysis (“Cash Flow Analysis”). The position was classified as Level 3 as of June 30, 2023 and December 31, 2022 because of the use of significant unobservable inputs in the Cash Flow Analysis as follows: As of June 30, 2023 As of December 31, 2022 Impact to Valuation from an Increase in Input (2) Significant Unobservable Inputs (1) Range Weighted Average Range Weighted Average Discount rate (3) 26.0% – 27.0% 26.5 % 25.5% - 26.5% 26 % Decrease Expected term (years) 10 – 15 N/A 10 – 15 N/A Decrease Expected return – liquid assets (4) 2.0% – 5.0% 4.4 % 2.0% - 6.0% 5.0 % Increase Expected total value to paid in capital – private assets (5) 1.32x – 2.40x 1.84x 1.32x – 2.40x 1.85x Increase ____________ (1) In determining these inputs, management considers the following factors including, but not limited to: liquidity, estimated yield, capital deployment, diversified multi-strategy appreciation, expected net multiple of investment capital across Private Assets investments, annual operating expenses, as well as investment guidelines such as concentration limits, position size, and investment periods. (2) Unless otherwise noted, this column represents the directional change in fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. (3) The discount rate was based on the relevant benchmark rate, spread, and yield migrations on related securitized assets. (4) Inputs were weighted based on actual and estimated expected return included in the range. (5) Inputs were weighted based on the actual and estimated commitments to the respective private asset investments included in the range . The resulting fair values of $10.7 million and $10.0 million were recorded within investments in the Condensed Consolidated Statements of Financial Condition as of June 30, 2023 and December 31, 2022, respectively. The following table presents changes in Level 3 assets measured at fair value for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance at beginning of period $ 10,279 $ 10,632 $ 10,007 $ 11,010 Change in fair value 411 (676) 683 (1,054) Balance at end of period $ 10,690 $ 9,956 $ 10,690 $ 9,956 Public Warrants The public warrants are valued using quoted market prices on the Nasdaq Stock Market LLC under the ticker GCMGW. Private Warrants The private warrants were classified as Level 3 as of June 30, 2023 and December 31, 2022 because of the use of significant unobservable inputs in the valuation, however the overall private warrant valuation and change in fair value are not material to the Condensed Consolidated Financial Statements. The valuations for the private warrants were determined to be $0.35 and $0.53 per unit as of June 30, 2023 and December 31, 2022, respectively. The resulting fair values of $0.3 million and $0.5 million were recorded within warrant liabilities in the Condensed Consolidated Statements of Financial Condition as of June 30, 2023 and December 31, 2022, respectively. See Note 7 for additional information regarding the warrant activity. The following table presents changes in Level 3 liabilities measured at fair value for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance at beginning of period $ (609) $ (1,512) $ (475) $ (1,584) Change in fair value 295 1,104 161 1,176 Balance at end of period $ (314) $ (408) $ (314) $ (408)

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	Equity Shares of Common Stock Outstanding The following table shows a rollforward of the common stock outstanding for the three and six months ended June 30, 2023: Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Class A common stock Class B common stock Class C common stock Class A common stock Class B common stock Class C common stock Beginning of period 41,390,306 — 144,235,246 41,806,215 — 144,235,246 Net shares delivered for vested RSUs 591,422 — — 591,422 — — Repurchase of Class A Shares (148,280) — — (564,189) — — End of period 41,833,448 — 144,235,246 41,833,448 — 144,235,246 As of June 30, 2023, 1,876,708 RSUs were vested, but not yet delivered, and are therefore not yet included in outstanding Class A common stock. The delivery of vested RSUs will be reduced by the number of shares withheld to satisfy statutory withholding tax obligations. Dividends 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 2023: Declaration Date Record Date Payment Date Dividend per Common Share February 9, 2023 March 1, 2023 March 15, 2023 $0.11 May 9, 2023 June 1, 2023 June 15, 2023 $0.11 August 8, 2023 September 1, 2023 September 15, 2023 $0.11 Dividend equivalent payments of $2.2 million were accrued for holders of RSUs as of June 30, 2023. Distributions to partners represent distributions made to GCMH Equityholders. Stock Repurchase Plan On August 6, 2021, GCMG’s Board of Directors authorized a stock repurchase plan which may be used to repurchase shares of the Company’s outstanding Class A common stock and warrants to purchase shares of Class A common stock. Class A common stock and warrants may be repurchased from time to time in open market transactions, in privately negotiated transactions, including with employees or otherwise, pursuant to the requirements of Rule 10b5-1 and Rule 10b-18 of the Exchange Act, as well as to retire (by cash settlement or the payment of tax withholding amounts upon net settlement) equity-based awards granted under our 2020 Incentive Award Plan (and any successor plan thereto), with the terms and conditions of these repurchases depending on legal requirements, price, market and economic conditions and other factors. The Company is not obligated under the terms of the plan to repurchase any of its Class A common stock or warrants, the program has no expiration date and the Company may suspend or terminate the program at any time without prior notice. Any shares of Class A common stock and any warrants repurchased as part of this program will be canceled. GCMG’s Board of Directors has made subsequent increases to its original stock repurchase authorization amount for shares and warrants. As of December 31, 2022, the total authorization was $90.0 million, excluding fees and expenses. During the six months ended June 30, 2023, the Company was deemed to have repurchased 2,485,339 shares for (1) RSUs that were settled in cash or (2) amounts withheld in connection with the payment of tax liabilities on behalf of employees upon the settlement of vested RSUs for $19.4 million, or an average of $7.81 per share. The Company did not repurchase shares in conjunction with RSU settlements during the three months ended June 30, 2023. See Note 10 for additional information regarding RSUs. In the three and six months ended June 30, 2023, the Company also repurchased 148,280 and 564,189 shares of Class A common stock for $1.1 million and $4.5 million, respectively, or an average of $7.72 and $7.94 per share, respectively. As of June 30, 2023, the Company had $21.6 million remaining under the stock repurchase plan. On August 8, 2023, GCM Grosvenor’s Board of Directors increased the firm's existing share repurchase authorization by $25 million , from $90 million to $115 million.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
Warrants	Warrants The public and private warrants meet the definition of a derivative under ASC 815 and the Company records these warrants as liabilities in the Condensed Consolidated Statements of Financial Condition at fair value, with subsequent changes in their respective fair values recorded in the change in fair value of warrant liabilities within the Condensed Consolidated Statements of Income (Loss) at each reporting date. Each public warrant entitles the registered holder to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment. The warrants expire 5 years after the consummation of the Transaction, or earlier upon redemption or liquidation. The public warrant holders do not have the rights or privileges of holders of Class A common stock and any voting rights until they exercise their warrants and receive shares of Class A common stock. After the issuance of shares of Class A common stock, upon exercise of the warrants, each holder will be entitled to one vote for each share held of record on all matters to be voted on by stockholders. The private placement warrants (including the Class A common stock issuable upon exercise of the private placement warrants) will not be redeemable by the Company so long as they are held by CF Sponsor, Holdings or their permitted transferees. CF Sponsor, Holdings or their permitted transferees, have the option to exercise the private placement warrants on a cashless basis. The following table shows public and private warrants outstanding for the three and six months ended June 30, 2023: Public Warrants Private Warrants Total Outstanding 16,784,970 900,000 17,684,970 There were no warrant exercises or repurchases during the three and six months ended June 30, 2023.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2023
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 six months ended June 30, 2023 or the year ended December 31, 2022. As of June 30, 2023 and December 31, 2022, the total unfunded commitments from the special limited partner and general partners to the unconsolidated VIEs were $41.5 million and $41.1 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 relate to the Company’s interests in and management fees, incentive fees and third party costs receivables from these non-consolidated VIEs. The Company’s maximum exposure to loss relating to non-consolidated VIEs as of June 30, 2023 and December 31, 2022 were as follows: As of June 30, 2023 December 31, 2022 Investments $ 101,053 $ 98,712 Receivables 11,363 11,695 Maximum exposure to loss $ 112,416 $ 110,407 The above table includes investments in VIEs which are owned by noncontrolling interest holders of approximately $33.7 million and $36.7 million as of June 30, 2023 and December 31, 2022, respectively.

Employee Compensation and Benef

Employee Compensation and Benefits	6 Months Ended
	Jun. 30, 2023
Compensation Related Costs [Abstract]
Employee Compensation and Benefits	Employee Compensation and Benefits For the three and six months ended June 30, 2023 and 2022, employee compensation and benefits consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cash-based employee compensation and benefits $ 38,691 $ 40,788 $ 83,144 $ 82,164 Equity-based compensation 3,815 5,604 29,608 15,485 Partnership interest-based compensation 63,127 7,027 74,224 14,142 Carried interest compensation 7,557 6,039 11,117 11,894 Cash-based incentive fee related compensation 1,728 1,219 2,465 2,813 Other non-cash compensation (50) 752 534 836 Total employee compensation and benefits $ 114,868 $ 61,429 $ 201,092 $ 127,334 Partnership Interest in Holdings, Holdings II and Management LLC Payments and settlements for partnership interest awards to the employees are made by GCMH Equityholders. 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 or settlements made or owed by the GCMH Equityholders. Since payments or settlements 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 interests 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 $63.1 million and $7.0 million for the three months ended June 30, 2023 and 2022, respectively, and $74.2 million and $14.1 million for the six months ended June 30, 2023 and 2022, respectively, for partnership interest-based compensation expense which was or will ultimately be paid or settled by Holdings, Holdings II or Management LLC. GCMH Equityholders have 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. No partnership interest-based compensation expense related to award modifications was recognized for the three and six months ended June 30, 2023 (other than as discussed for the Holdings Awards below) and $1.5 million and $3.1 million was recognized for the three and six months ended June 30, 2022 . The liability associated with awards that contain a stated target has been retained by Holdings as of June 30, 2023 and December 31, 2022 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. No recipients had unvested stated target payments as of June 30, 2023. Certain recipients had unvested stated target payments of $3.1 million as of June 30, 2022, which was not reflected as employee compensation and benefits expense by the Company as of June 30, 2022. The Company recognized partnership interest-based compensation expense of $8.5 million and $5.5 million for the three months ended June 30, 2023 and 2022, respectively, and $14.3 million and $11.0 million for the six months ended June 30, 2023 and 2022, respectively, related to profits interest awards that are in substance profit-sharing arrangements. GCMH Equityholders Awards In the year ended December 31, 2022, GCMH Equityholders entered into agreements that will transfer equity ownership between certain existing employee members of the GCMH Equityholders (“GCMH Equityholders Awards”). The GCMH Equityholders Awards will entitle recipients to receive Class A common stock upon vesting. The non-cash awards serve to transfer equity ownership from existing GCMH Equityholders to other existing member employees upon vesting. The GCMH Equityholders Awards do not dilute Class A common stockholders and do not impact cash flows of the Company. The GCMH Equityholders Awards are accounted for under ASC 718, Compensation—Stock Compensation . The awards generally will vest in May 2025 and do not entitle the recipients to dividends or distributions made on Class A common stock during the vesting period. As such, the fair value of the GCMH Equityholders Awards is based on the closing price of Class A common stock on the accounting grant date less the present value of dividends expected to be paid during the vesting period. GCMH Equityholders can settle the awards upon vesting by exchanging outstanding GCMH common units or by otherwise acquiring and delivering Class A common stock, and therefore the vesting of such awards will not dilute Class A common stockholders. The GCMH Equityholders Awards therefore have no economic impact on Class A common stockholders. As such, the expense that is pushed down to GCMH and the offsetting deemed contribution are each attributed solely to noncontrolling interests in GCMH, consistent with the accounting for payments to employees described above. The GCMH Equityholders Awards of 7,169,415 units had an aggregate grant date fair value of $53.4 million, or an average grant date fair value of $7.45 per unit. The Company recognized partnership interest-based compensation expense related to the GCMH Equityholders Awards of $5.5 million and $10.8 million for the three and six months ended June 30, 2023, respectively . As of June 30, 2023 , total unrecognized compensation expense related to unvested GCMH Equityholders Awards was $40.1 million and is expected to be recognized over the remaining weighted average period of 1.8 years. Holdings Awards On May 9, 2023, Holdings entered into amended and restated participation certificates with existing employee members (“Holdings Awards”). The Holdings Awards entitle recipients to a stated percentage, or minimum allocable share, of distributions from Holdings, as well as a profits interest with respect to net sale proceeds from dispositions of Holdings properties after certain threshold distributions to other members. Pursuant to ASC 505, the Holdings Awards will be recognized as compensation expense with a corresponding deemed contribution and are accounted for under ASC 718, Compensation—Stock Compensation as the awards have characteristics that are more akin to the risks and rewards of equity ownership in Holdings. These awards do not dilute Class A common stockholders and therefore have no economic impact on Class A common stockholders. Certain of these existing employee members were previously awarded target amounts that entitled them to a stated percentage, or minimum allocable share, of distributions from Holdings until they received a sum certain. Those target amounts represented by those sums, which were previously recorded as partnership interest-based compensation, were reduced to zero in the amended and restated participation certificates. As a result, target amounts that were previously recorded as partnership interest-based compensation were reversed, while partnership interest-based compensation associated with the amended and restated participation certificates is recorded. The Holdings Awards had an aggregate grant date fair value of $155.5 million. The fair value of the Holdings Awards was determined by a third-party valuation firm utilizing a discounted cash flow analysis for the minimum allocable share and a Monte Carlo simulation valuation model for the profits interest with respect to net sale proceeds from dispositions of Holdings properties after the threshold distributions. Significant valuation inputs and assumptions included Holdings projected financial information and distributions, an estimated 10 year holding period, a 15.4% cost of equity, a 13.0% weighted average cost of capital, a 35% volatility assumption, the likelihood of a defined conversion event, a 40% discount for lack of marketability, and the fair value of reference properties that determine the threshold distributions for the profits interest with respect to net sale proceeds. The resulting fair value of the Holdings Awards is pushed down from Holdings to the Company and recorded as compensation expense. A portion of the Holdings Awards were vested upon grant, resulting in immediate expense recognition. The Company recognized partnership interest-based compensation expense related to the Holdings Awards of $49.1 million for the three and six months ended June 30, 2023, which is net of $80.0 million target amounts reversed. A portion of the Holdings Awards will vest and be expensed over a requisite service period through December 31, 2024. As of June 30, 2023 , total unrecognized compensation expense related to unvested Holdings Awards was $26.4 million and is expected to be recognized over the remaining weighted average period of 1.1 years. 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	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity-Based Compensation	Equity-Based Compensation In the six months ended June 30, 2023, the Company granted 1.8 million equity-classified RSUs and 0.9 million liability-classified RSUs with aggregate grant date fair values of $15.2 million and $7.2 million, respectively, to certain employees. The liability-classified RSUs are either classified as liabilities because they are required to be settled in cash or because the Company has the right to and intends to (as of June 30, 2023) settle the RSUs partially or wholly in cash. The majority of liability-classified awards outstanding as of December 31, 2022 were granted on December 15, 2022 and vested on March 31, 2023. In March 2023, the Company reclassified 1.0 million RSUs granted on December 15, 2022 from liability-classified to equity-classified based on management’s intent to settle the awards in shares of Class A common stock. Other awards generally vest either (a) one-third at the grant date with the remainder over two years in equal annual installments or (b) over a one Upon delivery, the Company may withhold the number of shares to satisfy the statutory withholding tax obligation and deliver the net number of resulting shares vested. See Note 9 for additional information regarding GCMH Equityholders Awards and Holdings Awards. A summary of non-vested equity-classified RSU activity for the six months ended June 30, 2023 is as follows: Number of RSUs Weighted-Average Grant-Date Fair Value Per RSU Balance as of December 31, 2022 2,240,797 $ 11.71 Granted 1,848,111 8.23 Reclassified from liability-classified RSUs 1,010,339 8.38 Vested (2,799,341) 10.78 Forfeited (55,653) 9.88 Balance as of June 30, 2023 2,244,253 $ 8.54 A summary of non-vested liability-classified RSU activity for the six months ended June 30, 2023 is as follows: Number of RSUs Weighted-Average Grant-Date Fair Value Per RSU Balance as of December 31, 2022 3,155,161 $ 8.41 Granted 902,261 7.93 Reclassified to equity-classified RSUs (1,010,339) 8.38 Vested (2,153,025) 8.40 Forfeited (65,625) 8.38 Balance as of June 30, 2023 828,433 $ 7.96 The total grant-date fair value of RSUs that vested during the three and six months ended June 30, 2023 was $0.3 million and $48.3 million, respectively. For the three months ended June 30, 2023 and 2022, $3.8 million and $5.6 million, respectively, of compensation expense related to RSUs was recorded within employee compensation and benefits in the Condensed Consolidated Statements of Income (Loss). For the six months ended June 30, 2023 and 2022, $29.6 million and $15.5 million, respectively, of compensation expense related to RSUs was recorded within employee compensation and benefits in the Condensed Consolidated Statements of Income (Loss). As of June 30, 2023, total unrecognized compensation expense related to unvested RSUs was $20.8 million and is expected to be recognized over the remaining weighted average period of 2.9 years. The tax benefit related to RSUs that vested and were delivered during the six months ended June 30, 2023 was $1.3 million. The tax benefit related to RSUs that vested during the the six months ended June 30, 2023 but were not yet delivered will be recognized in the third quarter of 2023 when the cash or Class A common stock is delivered.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt The table below summarizes the outstanding debt balance as of June 30, 2023 and December 31, 2022: As of June 30, 2023 December 31, 2022 Senior loan $ 391,000 $ 393,000 Less: debt issuance costs (4,826) (5,373) Total debt $ 386,174 $ 387,627 Maturities of debt for the next five years and thereafter are as follows: Year Ended December 31, Remainder of 2023 $ 2,000 2024 4,000 2025 4,000 2026 4,000 2027 4,000 Thereafter 373,000 Total $ 391,000 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 to a maturity date of February 24, 2028 . 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 extended and increased, the “2028 Term Loans”). The Company capitalized $0.9 million and $2.2 million of debt issuances costs related to payments to lenders in connection with the amendments and extension of its Senior Loan in February and June 2021, respectively, which were recorded within debt in the Consolidated Statements of Financial Condition. Since June 30, 2021, quarterly principal payments of $1.0 million are required to be made toward the 2028 Term Loans beginning June 30, 2021 (less any reduction for prior or future voluntary or mandatory prepayments of principal). Through June 30, 2023, the 2028 Term Loans had an interest rate of 2.50% over the LIBOR, subject to a 0.50% LIBOR floor. On June 29, 2023, the Company entered into Amendment No. 7 to the Credit Agreement to incorporate changes for the contemplated transition to the Term Secured Overnight Financing Rate (“Term SOFR”), and on July 1, 2023, in conjunction with a Benchmark Transition Event, the interest rate defaulted to the Term SOFR plus a Benchmark Replacement Adjustment as recommended by the Relevant Governmental Body (all terms as defined in the Amended Credit Agreement). 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 six months ended June 30, 2023, the Company did not make any Cash Flow Payments. As of June 30, 2023 and December 31, 2022, $391.0 million and $393.0 million of 2028 Term Loans were outstanding, respectively, with weighted average interest rates of 7.27% and 3.14% for the six months ended June 30, 2023 and 2022, 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 June 30, 2023, 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 June 30, 2023 and December 31, 2022. Other Certain subsidiaries of the Company agree to jointly and severally guarantee, as primary obligors and not merely as surety guarantees the obligations of their parent entity, GCMH. Amortization of deferred debt issuance costs was $0.2 million and $0.3 million for the three months ended June 30, 2023 and 2022, respectively, and $0.5 million and $0.6 million for the six months ended June 30, 2023 and 2022, respectively. These amounts were recorded within interest expense in the Condensed Consolidated Statements of Income (Loss). 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 June 30, 2023 and December 31, 2022 . As the Senior Loan was not accounted for at fair value, it was not included in the Company’s fair value hierarchy in Note 5, however had it been included, it would have been classified in Level 2.

Interest Rate Derivatives

Interest Rate Derivatives	6 Months Ended
	Jun. 30, 2023
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 derivative recorded as a liability within accrued expenses and other liabilities in the Condensed Consolidated Statements of Financial Condition as of June 30, 2023 and December 31, 2022: Derivative Notional Amount Fair Value as of June 30, 2023 Fair Value as of December 31, 2022 Fixed Rate Paid Floating Rate Received Effective Date (2) Maturity Date Interest rate swap $ 300,000 $ (3,034) $ (6,473) 4.37 % 1 month LIBOR (1) November 2022 February 2028 ____________ (1) Floating rate received subject to a 0.50% Floor. Refer to Note 11 regarding the interest rate on the outstanding debt for the July 1, 2023 Benchmark Transition Event. The floating rate received under the interest rate swap also defaulted to Term SOFR plus a Benchmark Replacement Adjustment concurrent with the Benchmark Transition Event. (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. A rollforward of the amounts in accumulated other comprehensive income (loss) (“AOCI”) related to interest rate derivatives designated as cash flow hedges is as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Derivative gain (loss) at beginning of period $ 23,387 $ 14,712 $ 29,130 $ (3,622) Amount recognized in other comprehensive income (loss) 1 8,627 6,392 3,988 22,752 Amount reclassified from accumulated other comprehensive income (loss) to interest expense (2,373) 1,788 (3,477) 3,762 Derivative gain at end of period 29,641 22,892 29,641 22,892 Less: gain (loss) attributable to noncontrolling interests in GCMH 24,630 17,385 24,630 17,385 Derivative gain at end of period, net $ 5,011 $ 5,507 $ 5,011 $ 5,507 ____________ (1) Net of an immaterial tax impact for each of the three and six months ended June 30, 2023 and 2022. In February 2021, the Company terminated derivative instruments which were entered into in 2017 and 2018. In October 2022, the Company terminated derivative instruments which were entered into in 2021 and received $40.3 million of cash for the fair market value of the interest rate swaps at termination. The amounts previously recorded as hedges in AOCI will remain in AOCI and will be recorded in interest expense within the Condensed Consolidated Statements of Comprehensive Income (Loss) over the original lives of the derivative instruments. The Company reclassified $1.9 million and $1.4 million for the three months ended June 30, 2023 and 2022, respectively, and $2.9 million and $2.7 million for the six months ended June 30, 2023 and 2022, respectively, from AOCI to interest expense relating to the derivative instruments terminated that initially qualified for hedge accounting. The net impact of these reclassifications decreased interest expense for the three and six months ended June 30, 2023 and increased interest expense for the three and six months ended June 30, 2022. Effective on November 1, 2022 , the Company entered into a swap agreement to hedge interest rate risk related to payments made for the 2028 Term Loans that has a notional amount of $300 million and a fixed rate of 4.37%. The new swap agreement and the 2028 Term Loans have a 0.50% LIBOR floor through June 30, 2023. The swap was determined to be an effective cash flow hedge at inception based on a comparison of critical terms. Refer to Note 11 regarding the interest rate on the outstanding debt for the July 1, 2023 Benchmark Transition Event. The fair values of the interest rate swaps 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 5 for further details.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases The Company has entered into operating lease agreements for office space. The Company leases office space in various countries around the world and maintains its headquarters in Chicago, Illinois, where it leases primary office space under a lease agreement expiring September 2026. The leases contain rent escalation clauses based on increases in base rent, real estate taxes and operating expenses. The components of operating lease expense recorded within general, administrative and other in the Condensed Consolidated Statements of Income (Loss) were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease cost (1) $ 1,933 $ 1,938 $ 3,802 $ 3,784 Variable lease cost (2) 1,275 1,069 2,384 2,177 Less: sublease income 32 48 81 96 Total lease cost $ 3,176 $ 2,959 $ 6,105 $ 5,865 ____________ (1) Includes less than $0.1 million of short term lease expense for each of the three and six months ended June 30, 2023 and 2022. (2) Includes common area maintenance charges and other variable costs not included in the measurement of ROU assets and lease liabilities. The following table summarizes cash flows and other supplemental information related to our operating leases: Six Months Ended June 30, 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 4,344 $ 4,353 Non-cash ROU assets obtained in exchange for new operating leases $ 2,034 $ 693 Weighted average remaining lease term in years 2.5 years 3.1 years Weighted average discount rate 5.1 % 3.7 % As of June 30, 2023, the maturities of operating lease liabilities were as follows: Remainder of 2023 $ 4,253 2024 4,087 2025 3,264 2026 1,784 2027 — Thereafter — Total lease payments 13,388 Less: imputed interest (711) Total operating lease liabilities $ 12,677 In June 2023, the Company executed an agreement to lease office space for its New York office. The new space will replace the Company’s existing New York office space. The Company expects to be granted access to this space (at which point the lease will commence) in August 2023. Upon lease commencement, the Company will establish a ROU asset and lease liability. Total future lease payments are expected to be approximately $65.7 million over approximately 16 years. 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 $88.1 million and $88.9 million of unfunded investment commitments as of June 30, 2023 and December 31, 2022, respectively, representing general partner capital funding commitments to several of the GCM Funds. 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 Condensed Consolidated Financial Statements. 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	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Parties	Related PartiesIn 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 9 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 (Loss) 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. The Company also incurs certain costs, primarily related to employee benefits and travel, for which it receives reimbursement from Holdings. Due from related parties in the Condensed Consolidated Statements of Financial Condition includes net receivables from GCM Funds of $10.0 million and $13.0 million and from Holdings of less than $0.1 million as of June 30, 2023 and December 31, 2022, 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 June 30, 2023 and December 31, 2022, such investments and future commitments were $384.9 million and $366.2 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, $0.7 million and $0.9 million for the three months ended June 30, 2023 and 2022, respectively, and $1.5 million and $1.4 million for the six months ended June 30, 2023 and 2022, 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 (Loss).

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
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 (6)% and 6% for the three months ended June 30, 2023 and 2022, respectively, and (5)% and 7% for the six months ended June 30, 2023 and 2022, respectively. These rates were different than the statutory rate primarily due to the portion of income allocated to the noncontrolling interest holders, a valuation allowance recorded against deferred tax assets and discrete tax adjustments recorded in the periods. As of June 30, 2023, the Company had no unrecognized tax positions and believes there will be no changes to uncertain tax positions within the next 12 months. On August 16, 2022, the IRA was signed into law. In general, the provisions of the IRA will be effective beginning with the fiscal year 2023, with certain exceptions. The IRA includes a new 15% corporate minimum tax as well as a 1% excise tax on corporate stock repurchases completed after December 31, 2022. As required under the authoritative guidance of ASC 740, Income Taxes, the Company reviewed the impact on income taxes due to the change in legislation and concluded there was no impact to the financial statements as of June 30, 2023. The Company is in the process of evaluating the potential future impacts of the IRA, and while we do not expect a material impact from this legislation on our Condensed Consolidated Financial Statements , we will continue to review and monitor any additional guidance provided by the Internal Revenue Service.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share The following is a reconciliation of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator for earnings (loss) per share calculation: Net income attributable to GCM Grosvenor Inc., basic $ 4,848 $ 7,605 $ 3,618 $ 12,331 Exchange of Partnership units (47,277) 17,817 (63,960) 26,628 Net income (loss) attributable common stockholders, diluted (42,429) 25,422 (60,342) 38,959 Denominator for earnings (loss) per share calculation: Weighted-average shares, basic 43,707,111 45,118,448 43,047,388 44,857,546 Exchange of Partnership units 144,235,246 144,235,246 144,235,246 144,235,246 Assumed vesting of RSUs - incremental shares under the treasury stock method — 444 — 418,753 Weighted-average shares, diluted 187,942,357 189,354,138 187,282,634 189,511,545 Basic EPS Net income attributable to common stockholders, basic $ 4,848 $ 7,605 $ 3,618 $ 12,331 Weighted-average shares, basic 43,707,111 45,118,448 43,047,388 44,857,546 Net income per share attributable to common stockholders, basic $ 0.11 $ 0.17 $ 0.08 $ 0.27 Diluted EPS Net income (loss) attributable common stockholders, diluted $ (42,429) $ 25,422 $ (60,342) $ 38,959 Weighted-average shares, diluted 187,942,357 189,354,138 187,282,634 189,511,545 Net income (loss) per share attributable common stockholders, diluted $ (0.23) $ 0.13 $ (0.32) $ 0.21 When applying the if-converted method to calculate the potential dilutive impact of the exchangeable common units of the Partnership, the earnings (loss) per share numerator adjustment reflects the net income (loss) attributable to noncontrolling interests in GCMH, as reported, adjusted for the hypothetical incremental provision (benefit) for income taxes that would have been recorded by the Company if the units had been converted. 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 (loss) per share of Class C common stock under the two-class method has not been presented. The following outstanding potentially dilutive securities were excluded from the calculations of diluted earnings (loss) per share attributable to common stockholders because their impact would have been antidilutive for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Public warrants 16,784,970 16,784,970 16,784,970 16,784,970 Private warrants 900,000 900,000 900,000 900,000 Unvested RSUs under the treasury stock method 65,357 — 802,515 —

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On August 8, 2023, GCM Grosvenor’s Board of Directors declared a quarterly dividend of $0.11 per share of Class A common stock to record holders as of the close of business on September 1, 2023. The payment date will be September 15, 2023. On August 8, 2023, GCM Grosvenor’s Board of Directors increased the firm’s existing share repurchase authorization by $25 million , from $90 million to $115 million.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income attributable to GCM Grosvenor Inc., basic	$ 4,848	$ 7,605	$ 3,618	$ 12,331

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
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 six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. 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, 2022, filed with the Securities and Exchange Commission (“SEC”).
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 Investments primarily consist of investments in GCM Funds and other funds the Company does not control, but is deemed to exert significant influence, and are generally accounted for using the equity method of accounting. Under the equity method of accounting, the Company records its share of the underlying income or loss of such entities, which reflects the net asset value of such investments. Management believes the net asset value of the funds is representative of fair value. The resulting gains and losses are included as investment income (loss) in the Condensed Consolidated Statements of Income (Loss). The Company’s equity method 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 Financial Statements. Certain subsidiaries which hold the general partner capital interest in the GCM Funds are not wholly owned, and as such, the portion of the Company’s investments owned by limited partners in those subsidiaries are reflected within noncontrolling interests in the Condensed Consolidated Statements of Financial Condition.
Recently Issued Accounting Standards	Rece ntly Issued Accounting Standards In June 2016, the FASB issued Accounting Standards Update (“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. The Company adopted this standard on January 1, 2023 on a prospective basis. Adoption did not have a material impact on the Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which amends current guidance to provide optional practical expedients and

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Summary of Disaggregation of Revenue	For the three and six months ended June 30, 2023 and 2022, management fees and incentive fees consisted of the following: Three Months Ended June 30, Six Months Ended June 30, Management fees 2023 2022 2023 2022 Management fees, net $ 89,730 $ 90,517 $ 178,668 $ 180,069 Fund expense reimbursement revenue 3,834 2,313 7,141 4,871 Total management fees $ 93,564 $ 92,830 $ 185,809 $ 184,940 Three Months Ended June 30, Six Months Ended June 30, Incentive fees 2023 2022 2023 2022 Performance fees $ 269 $ 317 $ 513 $ 1,318 Carried interest 12,727 10,188 18,298 21,179 Total incentive fees $ 12,996 $ 10,505 $ 18,811 $ 22,497

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Components of Investments	Investments consist of the following: As of June 30, 2023 December 31, 2022 Equity method investments $ 225,138 $ 213,776 Other investments 10,876 10,194 Total investments $ 236,014 $ 223,970

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 and December 31, 2022: Fair Value as of June 30, 2023 Level 1 Level 2 Level 3 Total Assets Money market funds $ 12,852 $ — $ — $ 12,852 Other investments — — 10,690 10,690 Total assets $ 12,852 $ — $ 10,690 $ 23,542 Liabilities Public warrants $ 4,872 $ — $ — $ 4,872 Private warrants — — 314 314 Interest rate derivatives — 3,034 — 3,034 Total liabilities $ 4,872 $ 3,034 $ 314 $ 8,220 Fair Value as of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Money market funds $ 36,240 $ — $ — $ 36,240 Other investments — — 10,007 10,007 Total assets $ 36,240 $ — $ 10,007 $ 46,247 Liabilities Public warrants $ 7,386 $ — $ — $ 7,386 Private warrants — — 475 475 Interest rate derivatives — 6,473 — 6,473 Total liabilities $ 7,386 $ 6,473 $ 475 $ 14,334
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The position was classified as Level 3 as of June 30, 2023 and December 31, 2022 because of the use of significant unobservable inputs in the Cash Flow Analysis as follows: As of June 30, 2023 As of December 31, 2022 Impact to Valuation from an Increase in Input (2) Significant Unobservable Inputs (1) Range Weighted Average Range Weighted Average Discount rate (3) 26.0% – 27.0% 26.5 % 25.5% - 26.5% 26 % Decrease Expected term (years) 10 – 15 N/A 10 – 15 N/A Decrease Expected return – liquid assets (4) 2.0% – 5.0% 4.4 % 2.0% - 6.0% 5.0 % Increase Expected total value to paid in capital – private assets (5) 1.32x – 2.40x 1.84x 1.32x – 2.40x 1.85x Increase ____________ (1) In determining these inputs, management considers the following factors including, but not limited to: liquidity, estimated yield, capital deployment, diversified multi-strategy appreciation, expected net multiple of investment capital across Private Assets investments, annual operating expenses, as well as investment guidelines such as concentration limits, position size, and investment periods. (2) Unless otherwise noted, this column represents the directional change in fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. (3) The discount rate was based on the relevant benchmark rate, spread, and yield migrations on related securitized assets. (4) Inputs were weighted based on actual and estimated expected return included in the range. (5) Inputs were weighted based on the actual and estimated commitments to the respective private asset investments included in the range .
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents changes in Level 3 assets measured at fair value for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance at beginning of period $ 10,279 $ 10,632 $ 10,007 $ 11,010 Change in fair value 411 (676) 683 (1,054) Balance at end of period $ 10,690 $ 9,956 $ 10,690 $ 9,956
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 six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Balance at beginning of period $ (609) $ (1,512) $ (475) $ (1,584) Change in fair value 295 1,104 161 1,176 Balance at end of period $ (314) $ (408) $ (314) $ (408)

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Common Stock Outstanding	The following table shows a rollforward of the common stock outstanding for the three and six months ended June 30, 2023: Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Class A common stock Class B common stock Class C common stock Class A common stock Class B common stock Class C common stock Beginning of period 41,390,306 — 144,235,246 41,806,215 — 144,235,246 Net shares delivered for vested RSUs 591,422 — — 591,422 — — Repurchase of Class A Shares (148,280) — — (564,189) — — End of period 41,833,448 — 144,235,246 41,833,448 — 144,235,246
Schedule of Dividends Declared	The table below summarizes dividends declared to date during 2023: Declaration Date Record Date Payment Date Dividend per Common Share February 9, 2023 March 1, 2023 March 15, 2023 $0.11 May 9, 2023 June 1, 2023 June 15, 2023 $0.11 August 8, 2023 September 1, 2023 September 15, 2023 $0.11

Warrants (Tables)

Warrants (Tables)	6 Months Ended
	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
Schedule of Public Warrants and Private Warrants Outstanding	The following table shows public and private warrants outstanding for the three and six months ended June 30, 2023: Public Warrants Private Warrants Total Outstanding 16,784,970 900,000 17,684,970

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2023
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 relate to the Company’s interests in and management fees, incentive fees and third party costs receivables from these non-consolidated VIEs. The Company’s maximum exposure to loss relating to non-consolidated VIEs as of June 30, 2023 and December 31, 2022 were as follows: As of June 30, 2023 December 31, 2022 Investments $ 101,053 $ 98,712 Receivables 11,363 11,695 Maximum exposure to loss $ 112,416 $ 110,407

Employee Compensation and Ben_2

Employee Compensation and Benefits (Tables)	6 Months Ended
	Jun. 30, 2023
Compensation Related Costs [Abstract]
Schedule of Employee Compensation and Benefits	For the three and six months ended June 30, 2023 and 2022, employee compensation and benefits consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cash-based employee compensation and benefits $ 38,691 $ 40,788 $ 83,144 $ 82,164 Equity-based compensation 3,815 5,604 29,608 15,485 Partnership interest-based compensation 63,127 7,027 74,224 14,142 Carried interest compensation 7,557 6,039 11,117 11,894 Cash-based incentive fee related compensation 1,728 1,219 2,465 2,813 Other non-cash compensation (50) 752 534 836 Total employee compensation and benefits $ 114,868 $ 61,429 $ 201,092 $ 127,334

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	A summary of non-vested equity-classified RSU activity for the six months ended June 30, 2023 is as follows: Number of RSUs Weighted-Average Grant-Date Fair Value Per RSU Balance as of December 31, 2022 2,240,797 $ 11.71 Granted 1,848,111 8.23 Reclassified from liability-classified RSUs 1,010,339 8.38 Vested (2,799,341) 10.78 Forfeited (55,653) 9.88 Balance as of June 30, 2023 2,244,253 $ 8.54 A summary of non-vested liability-classified RSU activity for the six months ended June 30, 2023 is as follows: Number of RSUs Weighted-Average Grant-Date Fair Value Per RSU Balance as of December 31, 2022 3,155,161 $ 8.41 Granted 902,261 7.93 Reclassified to equity-classified RSUs (1,010,339) 8.38 Vested (2,153,025) 8.40 Forfeited (65,625) 8.38 Balance as of June 30, 2023 828,433 $ 7.96

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Outstanding Debt Balance	The table below summarizes the outstanding debt balance as of June 30, 2023 and December 31, 2022: As of June 30, 2023 December 31, 2022 Senior loan $ 391,000 $ 393,000 Less: debt issuance costs (4,826) (5,373) Total debt $ 386,174 $ 387,627
Schedule of Maturities of Long-term Debt	Maturities of debt for the next five years and thereafter are as follows: Year Ended December 31, Remainder of 2023 $ 2,000 2024 4,000 2025 4,000 2026 4,000 2027 4,000 Thereafter 373,000 Total $ 391,000

Interest Rate Derivatives (Tabl

Interest Rate Derivatives (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives Recorded as Derivative Liability	The Company had the following interest rate derivative recorded as a liability within accrued expenses and other liabilities in the Condensed Consolidated Statements of Financial Condition as of June 30, 2023 and December 31, 2022: Derivative Notional Amount Fair Value as of June 30, 2023 Fair Value as of December 31, 2022 Fixed Rate Paid Floating Rate Received Effective Date (2) Maturity Date Interest rate swap $ 300,000 $ (3,034) $ (6,473) 4.37 % 1 month LIBOR (1) November 2022 February 2028 ____________ (1) Floating rate received subject to a 0.50% Floor. Refer to Note 11 regarding the interest rate on the outstanding debt for the July 1, 2023 Benchmark Transition Event. The floating rate received under the interest rate swap also defaulted to Term SOFR plus a Benchmark Replacement Adjustment concurrent with the Benchmark Transition Event. (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.
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 is as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Derivative gain (loss) at beginning of period $ 23,387 $ 14,712 $ 29,130 $ (3,622) Amount recognized in other comprehensive income (loss) 1 8,627 6,392 3,988 22,752 Amount reclassified from accumulated other comprehensive income (loss) to interest expense (2,373) 1,788 (3,477) 3,762 Derivative gain at end of period 29,641 22,892 29,641 22,892 Less: gain (loss) attributable to noncontrolling interests in GCMH 24,630 17,385 24,630 17,385 Derivative gain at end of period, net $ 5,011 $ 5,507 $ 5,011 $ 5,507 ____________ (1) Net of an immaterial tax impact for each of the three and six months ended June 30, 2023 and 2022.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease, Cost	The components of operating lease expense recorded within general, administrative and other in the Condensed Consolidated Statements of Income (Loss) were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Operating lease cost (1) $ 1,933 $ 1,938 $ 3,802 $ 3,784 Variable lease cost (2) 1,275 1,069 2,384 2,177 Less: sublease income 32 48 81 96 Total lease cost $ 3,176 $ 2,959 $ 6,105 $ 5,865 ____________ (1) Includes less than $0.1 million of short term lease expense for each of the three and six months ended June 30, 2023 and 2022. (2) Includes common area maintenance charges and other variable costs not included in the measurement of ROU assets and lease liabilities. The following table summarizes cash flows and other supplemental information related to our operating leases: Six Months Ended June 30, 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 4,344 $ 4,353 Non-cash ROU assets obtained in exchange for new operating leases $ 2,034 $ 693 Weighted average remaining lease term in years 2.5 years 3.1 years Weighted average discount rate 5.1 % 3.7 %
Schedule of Maturities of Operating Lease Liabilities	As of June 30, 2023, the maturities of operating lease liabilities were as follows: Remainder of 2023 $ 4,253 2024 4,087 2025 3,264 2026 1,784 2027 — Thereafter — Total lease payments 13,388 Less: imputed interest (711) Total operating lease liabilities $ 12,677

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic and Diluted Earnings Per Share	The following is a reconciliation of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator for earnings (loss) per share calculation: Net income attributable to GCM Grosvenor Inc., basic $ 4,848 $ 7,605 $ 3,618 $ 12,331 Exchange of Partnership units (47,277) 17,817 (63,960) 26,628 Net income (loss) attributable common stockholders, diluted (42,429) 25,422 (60,342) 38,959 Denominator for earnings (loss) per share calculation: Weighted-average shares, basic 43,707,111 45,118,448 43,047,388 44,857,546 Exchange of Partnership units 144,235,246 144,235,246 144,235,246 144,235,246 Assumed vesting of RSUs - incremental shares under the treasury stock method — 444 — 418,753 Weighted-average shares, diluted 187,942,357 189,354,138 187,282,634 189,511,545 Basic EPS Net income attributable to common stockholders, basic $ 4,848 $ 7,605 $ 3,618 $ 12,331 Weighted-average shares, basic 43,707,111 45,118,448 43,047,388 44,857,546 Net income per share attributable to common stockholders, basic $ 0.11 $ 0.17 $ 0.08 $ 0.27 Diluted EPS Net income (loss) attributable common stockholders, diluted $ (42,429) $ 25,422 $ (60,342) $ 38,959 Weighted-average shares, diluted 187,942,357 189,354,138 187,282,634 189,511,545 Net income (loss) per share attributable common stockholders, diluted $ (0.23) $ 0.13 $ (0.32) $ 0.21
Schedule of Outstanding Potentially Dilutive Securities Excluded from Calculation of Diluted Earnings Per Share	The following outstanding potentially dilutive securities were excluded from the calculations of diluted earnings (loss) per share attributable to common stockholders because their impact would have been antidilutive for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Public warrants 16,784,970 16,784,970 16,784,970 16,784,970 Private warrants 900,000 900,000 900,000 900,000 Unvested RSUs under the treasury stock method 65,357 — 802,515 —

Organization (Details)

Organization (Details)	Jun. 30, 2023	Dec. 31, 2022
GCMH
Finite-Lived Intangible Assets [Line Items]
Ownership percentage by parent	22.50%	22.50%

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 107,613	$ 104,360	$ 206,729	$ 209,488
Total management fees
Disaggregation of Revenue [Line Items]
Revenue	93,564	92,830	185,809	184,940
Management fees, net
Disaggregation of Revenue [Line Items]
Revenue	89,730	90,517	178,668	180,069
Fund expense reimbursement revenue
Disaggregation of Revenue [Line Items]
Revenue	3,834	2,313	7,141	4,871
Total incentive fees
Disaggregation of Revenue [Line Items]
Revenue	12,996	10,505	18,811	22,497
Performance fees
Disaggregation of Revenue [Line Items]
Revenue	269	317	513	1,318
Carried interest
Disaggregation of Revenue [Line Items]
Revenue	$ 12,727	$ 10,188	$ 18,298	$ 21,179

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 0	$ 0.1	$ 0	$ 0.4

Investments - Components of Inv

Investments - Components of Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity method investments	$ 225,138	$ 213,776
Other investments	10,876	10,194
Total investments	$ 236,014	$ 223,970

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Total investments	$ 236,014	$ 223,970
Noncontrolling Interests
Schedule of Equity Method Investments [Line Items]
Total investments	$ 61,000	$ 64,900

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Money market funds	$ 12,852	$ 36,240
Other investments	10,690	10,007
Total assets	23,542	46,247
Liabilities
Warrant liabilities	5,186	7,861
Interest rate derivatives	3,034	6,473
Total liabilities	8,220	14,334
Public warrants
Liabilities
Warrant liabilities	4,872	7,386
Private warrants
Liabilities
Warrant liabilities	314	475
Level 1
Assets
Money market funds	12,852	36,240
Other investments	0	0
Total assets	12,852	36,240
Liabilities
Interest rate derivatives	0	0
Total liabilities	4,872	7,386
Level 1 | Public warrants
Liabilities
Warrant liabilities	4,872	7,386
Level 1 | Private warrants
Liabilities
Warrant liabilities	0	0
Level 2
Assets
Money market funds	0	0
Other investments	0	0
Total assets	0	0
Liabilities
Interest rate derivatives	3,034	6,473
Total liabilities	3,034	6,473
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
Other investments	10,690	10,007
Total assets	10,690	10,007
Liabilities
Interest rate derivatives	0	0
Total liabilities	314	475
Level 3 | Public warrants
Liabilities
Warrant liabilities	0	0
Level 3 | Private warrants
Liabilities
Warrant liabilities	$ 314	$ 475

Fair Value Measurements - Other

Fair Value Measurements - Other Investments (Details) - Level 3	Jun. 30, 2023	Dec. 31, 2022
Discount rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.260	0.255
Discount rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.270	0.265
Discount rate | Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted average interest rate	26.50%	26%
Expected term (years) | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected term (years)	10 years	10 years
Expected term (years) | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected term (years)	15 years	15 years
Expected return – liquid assets | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.020	0.020
Expected return – liquid assets | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.050	0.060
Expected return – liquid assets | Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted average interest rate	4.40%	5%
Expected total value to paid in capital – private assets | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	1.32	1.32
Expected total value to paid in capital – private assets | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	2.4	2.4
Expected total value to paid in capital – private assets | Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	1.84	1.85

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 10,690	$ 10,007
Warrant liabilities	$ 5,186	$ 7,861
Private warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value (in dollars pes share)	$ 0.35	$ 0.53
Warrant liabilities	$ 314	$ 475
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	10,690	10,007
Level 3 | Private warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 314	$ 475

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Roll Forward (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 10,279	$ 10,632	$ 10,007	$ 11,010
Change in fair value	411	(676)	683	(1,054)
Balance at end of period	10,690	9,956	10,690	9,956
Private warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	(609)	(1,512)	(475)	(1,584)
Change in fair value	295	1,104	161	1,176
Balance at end of period	$ (314)	$ (408)	$ (314)	$ (408)

Equity - Common Stock Outstandi

Equity - Common Stock Outstanding (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Class A common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock outstanding, beginning balance (in shares)	41,390,306	41,806,215
Repurchase of Class A Shares (in shares)	(148,280)	(564,189)
Common stock outstanding, ending balance (in shares)	41,833,448	41,833,448
Class A common stock | Restricted Stock Units (RSUs)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net shares delivered for vested RSUs (in shares)	591,422	591,422
Class B common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock outstanding, beginning balance (in shares)	0	0
Repurchase of Class A Shares (in shares)	0	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	0
Class C common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock outstanding, beginning balance (in shares)	144,235,246	144,235,246
Repurchase of Class A Shares (in shares)	0	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	0

Equity - Additional Information

Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Aug. 08, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Dividends declared but not paid	$ 857	$ 857	$ 767
Treasury stock acquired, average cost ( in dollars per share)		$ 7.81
Payments to repurchase Class A common stock		$ 4,478	$ 12,458
Stock repurchase program, remaining authorized repurchase amount	$ 21,600	21,600
Class A common stock
Class of Stock [Line Items]
Stock redeemed or called during period, value		$ 19,400
Treasury stock acquired, average cost ( in dollars per share)	$ 7.72	$ 7.94
Repurchase of class A shares (in shares)	148,280	564,189
Payments to repurchase Class A common stock	$ 1,100	$ 4,500
Class A Common Stock And Warrants
Class of Stock [Line Items]
Stock repurchase program, authorized amount					$ 90,000
Class A Common Stock And Warrants | Subsequent Event
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 115,000
Stock repurchase program, increase in authorized amount				$ 25,000
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Dividends declared but not paid	$ 2,200	$ 2,200
Shares withheld in connection with payment of tax liabilities on behalf of employees upon settlement (in shares)		2,485,339
Restricted Stock Units (RSUs) | Class A common stock
Class of Stock [Line Items]
Vested but not yet delivered (in shares)	1,876,708	1,876,708

Equity - Dividends Declared (De

Equity - Dividends Declared (Details) - Class A common stock - $ / shares	Aug. 08, 2023	May 09, 2023	Feb. 09, 2023
Class of Stock [Line Items]
Common stock, dividends declared (in dollars per share)		$ 0.11	$ 0.11
Subsequent Event
Class of Stock [Line Items]
Common stock, dividends declared (in dollars per share)	$ 0.11

Warrants - Additional Informati

Warrants - Additional Information (Details)	Jun. 30, 2023 vote $ / shares shares
Class A common stock
Class of Warrant or Right [Line Items]
Common stock, number of votes per share | vote	1
Public warrants
Class of Warrant or Right [Line Items]
Warrant exercise price (in dollars per share) | $ / shares	$ 11.50
Expected term (in years)	5 years
Public warrants | Class A common stock
Class of Warrant or Right [Line Items]
Number of shares called by each warrant (in shares) | shares	1

Warrants - Public Warrants and

Warrants - Public Warrants and Private Warrants Outstanding (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Movements of Class of Warrants Outstanding [Roll Forward]
Outstanding (in shares)	17,684,970	17,684,970		17,684,970
Proceeds from exercise of warrants	$ 0
Payments to repurchase warrants	$ 0	$ 0	$ 2,569,000
Public warrants
Movements of Class of Warrants Outstanding [Roll Forward]
Outstanding (in shares)	16,784,970	16,784,970		16,784,970
Private warrants
Movements of Class of Warrants Outstanding [Roll Forward]
Outstanding (in shares)	900,000	900,000		900,000

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investments	$ 101,053	$ 98,712
Variable Interest Entity, Not Primary Beneficiary | Noncontrolling Interests
Variable Interest Entity [Line Items]
Investments	33,700	36,700
Unfunded Commitments
Variable Interest Entity [Line Items]
Commitment amount	88,100	88,900
Unfunded Commitments | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Commitment amount	$ 41,500	$ 41,100

Variable Interest Entities - Ma

Variable Interest Entities - Maximum Exposure to Loss Relating to Non-consolidated VIEs (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Investments	$ 101,053	$ 98,712
Receivables	11,363	11,695
Maximum exposure to loss	$ 112,416	$ 110,407

Employee Compensation and Ben_3

Employee Compensation and Benefits - Employee Compensation and Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Compensation Related Costs [Abstract]
Cash-based employee compensation and benefits	$ 38,691	$ 40,788	$ 83,144	$ 82,164
Equity-based compensation	3,815	5,604	29,608	15,485
Partnership interest-based compensation	63,127	7,027	74,224	14,142
Carried interest compensation	7,557	6,039	11,117	11,894
Cash-based incentive fee related compensation	1,728	1,219	2,465	2,813
Other non-cash compensation	(50)	752	534	836
Total employee compensation and benefits	$ 114,868	$ 61,429	$ 201,092	$ 127,334

Employee Compensation and Ben_4

Employee Compensation and Benefits - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
	May 09, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Compensation Items [Line Items]
Partnership interest-based compensation		$ 63,127,000	$ 7,027,000	$ 74,224,000	$ 14,142,000
Interest-based compensation, award modifications		0	1,500,000	0	3,100,000
Unvested stated target payments			3,100,000		3,100,000
Interest-based compensation expense, profit interest		8,500,000	5,500,000	14,300,000	11,000,000
Holding Awards
Compensation Items [Line Items]
Partnership interest-based compensation		49,100,000		49,100,000
Aggregate grant date fair value	$ 155,500,000
Nonvested award, cost not yet recognized, amount		26,400,000		$ 26,400,000
Nonvested award, cost not yet recognized, period for recognition (in years)				1 year 1 month 6 days
Estimated holding period (in years)	10 years
Pre-tax cost of equity percentage	15.40%
Discont rate (as percent)	13%
Volatility rate (as percent)	35%
Discount rate for lack of marketability (as percent)	40%
Target amount reserved		80,000,000		$ 80,000,000
Holdings, Holdings II and Management LLC
Compensation Items [Line Items]
Partnership interest-based compensation		63,100,000	$ 7,000,000	74,200,000	$ 14,100,000
GCMH Equityholders Awards
Compensation Items [Line Items]
Partnership interest-based compensation		5,500,000		10,800,000
Equityholders awards, aggregate grant fair value (in shares)						7,169,415
Aggregate grant date fair value						$ 53,400,000
Equityholders awards, grant fair value (in dollars per share)						$ 7.45
Nonvested award, cost not yet recognized, amount		$ 40,100,000		$ 40,100,000
Nonvested award, cost not yet recognized, period for recognition (in years)				1 year 9 months 18 days

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2023 shares	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period, fair value		$ 300		$ 48,300
Equity-based compensation		3,815	$ 5,604	29,608	$ 15,485
Cost not yet recognized		$ 20,800		$ 20,800
Period for recognition (in years)				2 years 10 months 24 days
Tax benefit				$ 1,300
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted (in shares) | shares				1,848,111
Aggregate grant date fair value				$ 15,200
Reclassified from liability-classified RSUs (in shares) | shares	1,000,000			1,010,339
Vesting ratio		0.33		0.33
Award vesting period (in years)				2 years
Liability-Classified RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted (in shares) | shares				902,261
Aggregate grant date fair value				$ 7,200
Other Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				1 year
Other Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				3 years

Equity-Based Compensation - Res

Equity-Based Compensation - Restricted Stock and Restricted Stock Unit, Activity (Details) - $ / shares	1 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023
Restricted Stock Units (RSUs)
Number of RSUs
Beginning balance (in shares)		2,240,797
Granted (in shares)		1,848,111
Reclassified from liability-classified RSUs (in shares)	1,000,000	1,010,339
Vested (in shares)		(2,799,341)
Forfeited (in shares)		(55,653)
Ending balance (in shares)		2,244,253
Weighted-Average Grant-Date Fair Value Per RSU
Beginning balance (in dollars per share)		$ 11.71
Granted (in dollars per share)		8.23
Reclassified to liability-classified RSUs (in dollars per share)		8.38
Vested (in dollars per share)		10.78
Forfeited (in dollars per share)		9.88
Ending balance (in dollars per share)		$ 8.54
Liability-Classified RSUs
Number of RSUs
Beginning balance (in shares)		3,155,161
Granted (in shares)		902,261
Reclassified to equity-classified RSUs (in shares)		(1,010,339)
Vested (in shares)		(2,153,025)
Forfeited (in shares)		(65,625)
Ending balance (in shares)		828,433
Weighted-Average Grant-Date Fair Value Per RSU
Beginning balance (in dollars per share)		$ 8.41
Granted (in dollars per share)		7.93
Reclassified to equity-classified RSUs (in dollar per share)		8.38
Vested (in dollars per share)		8.40
Forfeited (in dollars per share)		8.38
Ending balance (in dollars per share)		$ 7.96

Debt - Debt Outstanding (Detail

Debt - Debt Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Senior loan	$ 391,000
Less: debt issuance costs	(4,826)	$ (5,373)
Total debt	386,174	387,627
Senior loan
Debt Instrument [Line Items]
Senior loan	$ 391,000	$ 393,000

Debt - Maturities of Debt (Deta

Debt - Maturities of Debt (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Debt Disclosure [Abstract]
Remainder of 2023	$ 2,000
2024	4,000
2025	4,000
2026	4,000
2027	4,000
Thereafter	373,000
Total	$ 391,000

Debt - Additional Information (

Debt - Additional Information (Details)			3 Months Ended		6 Months Ended
	Jun. 30, 2021 USD ($)	Feb. 24, 2021 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jun. 23, 2021 USD ($)	Jan. 02, 2014 USD ($)
Debt Instrument [Line Items]
Debt issuance costs, net			$ 4,826,000		$ 4,826,000		$ 5,373,000
Senior loan			391,000,000		391,000,000
Amortization of debt issuance costs			$ 200,000	$ 300,000	$ 547,000	$ 552,000
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 (in days)					5 days
Maximum leverage ratio			2.50		2.50
Senior loan			$ 391,000,000		$ 391,000,000		393,000,000
Senior loan | Amended 2028 Term Loans
Debt Instrument [Line Items]
Face amount		$ 290,000,000
Senior loan			$ 391,000,000		$ 391,000,000		393,000,000
Weighted average interest rate (as percent)			7.27%	3.14%	7.27%	3.14%
Senior loan | Amended 2028 Term Loans | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)		2.50%
Debt, LIBOR floor (as percent)		0.50%
Senior loan | Amended Term Loan Facility Due February 24, 2028, Amendment 1
Debt Instrument [Line Items]
Debt issuance costs, net		$ 900,000
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
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 - Int

Interest Rate Derivatives - Interest Rate Derivatives Recorded as Derivative Liability (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Nov. 01, 2022
Derivative [Line Items]
Fair Value	$ (3,034,000)	$ (6,473,000)
Interest Rate Swap, 4.37%
Derivative [Line Items]
Notional Amount	300,000,000
Fair Value	$ (3,034,000)	$ (6,473,000)
Fixed Rate Paid	4.37%		4.37%
Derivative, LIBOR floor (as percent)	0.50%

Interest Rate Derivatives - Cas

Interest Rate Derivatives - Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Derivative [Roll Forward]
Beginning balance	$ (108,074)	$ (53,301)	$ (94,006)	$ (55,801)
Ending balance	(100,883)	(44,952)	(100,883)	(44,952)
Derivative gain at end of period, net	(24,805)		(24,805)		$ (19,820)
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Derivative [Roll Forward]
Beginning balance	23,387	14,712	29,130	(3,622)
Amount recognized in other comprehensive income (loss)	8,627	6,392	3,988	22,752
Amount reclassified from accumulated other comprehensive income (loss) to interest expense	(2,373)	1,788	(3,477)	3,762
Ending balance	29,641	22,892	29,641	22,892
Less: gain (loss) attributable to noncontrolling interests in GCMH	24,630	17,385	24,630	17,385
Derivative gain at end of period, net	$ 5,011	$ 5,507	$ 5,011	$ 5,507

Interest Rate Derivatives - Add

Interest Rate Derivatives - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Nov. 01, 2022
Derivative [Line Items]
Gain (loss) relating to derivative instruments, reclassification from AOCI to interest expense		$ (1,900,000)	$ 1,400,000	$ (2,900,000)	$ 2,700,000
Amount expected to be reclassified to interest expense in next twelve months		$ 10,600,000		$ 10,600,000
Interest Rate Swap, 1.33% and 1.39%
Derivative [Line Items]
Interest rate swap, cash received	$ 40,300,000
Interest Rate Swap, 4.37%
Derivative [Line Items]
Notional Amount						$ 300,000,000
Fixed Rate Paid		4.37%		4.37%		4.37%
Derivative, LIBOR floor (as percent)		0.50%		0.50%
Interest Rate Swap, 4.37% | London Interbank Offered Rate (LIBOR)
Derivative [Line Items]
Derivative, LIBOR floor (as percent)						0.50%

Commitments and Contingencies -

Commitments and Contingencies - Components of Operating Lease (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 1,933	$ 1,938	$ 3,802	$ 3,784
Variable lease cost	1,275	1,069	2,384	2,177
Less: sublease income	32	48	81	96
Total lease cost	3,176	2,959	6,105	5,865
Short-term lease (less than)	$ 100	$ 100	$ 100	$ 100

Commitments and Contingencies_2

Commitments and Contingencies - Supplemental of Cash Flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 4,344	$ 4,353
Non-cash ROU assets obtained in exchange for new operating leases	$ 2,034	$ 693
Weighted average remaining lease term in years	2 years 6 months	3 years 1 month 6 days
Weighted average discount rate	5.10%	3.70%

Commitments and Contingencies_3

Commitments and Contingencies - Operating Lease Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2023	$ 4,253
2024	4,087
2025	3,264
2026	1,784
2027	0
Thereafter	0
Total lease payments	13,388
Less: imputed interest	(711)
Total operating lease liabilities	$ 12,677	$ 15,520

Commitments and Contingencies_4

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 11, 2021	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2019	Dec. 31, 2022
Loss Contingencies [Line Items]
Management fee duration (in years)						5 years
Cash paid for amounts included in the measurement of operating lease liabilities				$ 4,344	$ 4,353
Weighted average remaining lease term in years		2 years 6 months	2 years 6 months	2 years 6 months	3 years 1 month 6 days
Air Transportation Equipment
Loss Contingencies [Line Items]
Percent of asset acquired (as percent)						12.50%
Air Transportation Equipment | GCMH
Loss Contingencies [Line Items]
Percent of asset acquired (as percent)	12.50%
Percent of asset ownership assigned to partner (as percent)	50%
Consideration received from assignment to partner	$ 1,300
Office Building
Loss Contingencies [Line Items]
Cash paid for amounts included in the measurement of operating lease liabilities		$ 65,700
Weighted average remaining lease term in years		16 years	16 years	16 years
Fixed Management Fee
Loss Contingencies [Line Items]
Annual management fee			$ 300			$ 500
Unfunded Commitments
Loss Contingencies [Line Items]
Commitment amount		$ 88,100	$ 88,100	$ 88,100			$ 88,900

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Management
Related Party Transaction [Line Items]
Investment balance of related party	$ 384.9		$ 384.9		$ 366.2
Affiliated Entity | Aircraft Utilization | GCMH
Related Party Transaction [Line Items]
Amounts of transaction	0.7	$ 0.9	1.5	$ 1.4
Related Party
Related Party Transaction [Line Items]
Net receivables from related parties	10		10		13
Affiliated Entity | Related Party
Related Party Transaction [Line Items]
Net receivables from related parties	$ 0.1		$ 0.1		$ 0.1

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate (as percent)	(6.00%)	6%	(5.00%)	7%
Unrecognized tax benefits	$ 0		$ 0

Earnings (Loss) Per Share - Rec

Earnings (Loss) Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator for earnings (loss) per share calculation:
Net income attributable to GCM Grosvenor Inc., basic	$ 4,848	$ 7,605	$ 3,618	$ 12,331
Net income (loss) attributable common stockholders, diluted	$ (42,429)	$ 25,422	$ (60,342)	$ 38,959
Denominator for earnings (loss) per share calculation:
Weighted-average shares, basic (in shares)	43,707,111	45,118,448	43,047,388	44,857,546
Exchange of Partnership units (in shares)	144,235,246	144,235,246	144,235,246	144,235,246
Assumed vesting of RSUs - incremental shares under the treasury stock method (in shares)	0	444	0	418,753
Weighted-average shares, diluted (in shares)	187,942,357	189,354,138	187,282,634	189,511,545
Basic EPS
Net income attributable to common stockholders, basic	$ 4,848	$ 7,605	$ 3,618	$ 12,331
Weighted-average shares, basic (in shares)	43,707,111	45,118,448	43,047,388	44,857,546
Net income per share attributable to common stockholders, basic (in dollars per share)	$ 0.11	$ 0.17	$ 0.08	$ 0.27
Diluted EPS
Net income (loss) attributable common stockholders, diluted	$ (42,429)	$ 25,422	$ (60,342)	$ 38,959
Weighted-average shares, diluted (in shares)	187,942,357	189,354,138	187,282,634	189,511,545
Net income (loss) per share attributable common stockholders, diluted (in dollars per share)	$ (0.23)	$ 0.13	$ (0.32)	$ 0.21
Partnership Units
Numerator for earnings (loss) per share calculation:
Exercise of warrants	$ (47,277)	$ 17,817	$ (63,960)	$ 26,628

Earnings (Loss) Per Share - Pot

Earnings (Loss) Per Share - Potentially Dilutive Securities Excluded from Calculation of EPS (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Warrant | Public warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	16,784,970	16,784,970	16,784,970	16,784,970
Warrant | Private warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	900,000	900,000	900,000	900,000
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	65,357	0	802,515	0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 08, 2023	May 09, 2023	Feb. 09, 2023	Dec. 31, 2022
Class A Common Stock And Warrants
Subsequent Event [Line Items]
Stock repurchase program, authorized amount				$ 90
Subsequent Event | Class A Common Stock And Warrants
Subsequent Event [Line Items]
Stock repurchase program, increase in authorized amount	$ 25
Stock repurchase program, authorized amount	$ 115
Class A common stock
Subsequent Event [Line Items]
Common stock, dividends declared (in dollars per share)		$ 0.11	$ 0.11
Class A common stock | Subsequent Event
Subsequent Event [Line Items]
Common stock, dividends declared (in dollars per share)	$ 0.11