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Extra Everything: The Story of Chipotle
Chipotle's story from a single restaurant to a nationwide chain, through crisis and turnaround, built on one of the strongest models in the industry.
GCM Grosvenor
GCM Grosvenor (GCMG) investor relations material
GCM Grosvenor Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 May, 2026
Executive summary
Achieved substantial growth in assets under management (AUM) and fee-paying AUM, reaching $91.5 billion and $73.5 billion respectively, up 12% and 11% year-over-year, with strong fundraising across channels and notable progress in the individual investor segment despite macro headwinds.
Raised $1.5 billion in Q1 2026, totaling $9.3 billion over the last year, with infrastructure and absolute return strategies leading fundraising.
Unrealized carried interest exceeded $1 billion, with the firm's share surpassing $500 million, up 16% and 23% year-over-year.
Net income improved to $17.7 million in Q1 2026, a significant increase from a net loss of $1.1 million in Q1 2025.
Board approved a $0.12 per share dividend payable June 15, 2026.
Financial highlights
GAAP revenue for Q1 2026 was $124.8 million, nearly flat year-over-year; GAAP net income attributable to the company was $5.5 million, up from $0.5 million in Q1 2025.
Adjusted EBITDA was $53.4 million, essentially unchanged year-over-year; Adjusted Net Income was $36.0 million, up 2% from Q1 2025.
Fee-related revenue and fee-related earnings were flat year-over-year, but grew 8% and 20% respectively excluding catch-up fees.
Fee-related earnings margin was 44% for Q1 2026.
Cash and cash equivalents at quarter-end were $164 million.
Outlook and guidance
Management expects Q2 fundraising to exceed Q1, with the back half of the year larger than the front half, and remains confident in achieving 2028 guidance to double FRE, supported by top-line growth and margin expansion.
Anticipate private markets management fees to increase by ~2% sequentially in Q2; ARS management fees expected to grow ~1% sequentially, maintaining a 10% year-over-year growth rate.
Fee-related revenue projected to increase by a high single-digit percentage year-over-year in Q2.
Sufficient liquidity from operations, cash, and credit facilities is expected to fund operations and capital needs for the foreseeable future.
Strategy for new PE registered fund launch
Monetization plans for unrealized carry
Growth outlook for credit secondaries strategy
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Latest events from GCM Grosvenor
- Director elections, auditor ratification, and performance-based executive pay highlight this proxy.GCMG
Proxy filing24 Apr 2026 - Director elections and auditor ratification headline the virtual 2026 annual meeting agenda.GCMGProxy filing24 Apr 2026
- Record fundraising, robust pipelines, and strategic wealth channel growth drive strong outlook.GCMGUBS Financial Services Conference 202611 Apr 2026
- Record fundraising, expanding wealth channel, and infrastructure focus drive future growth.GCMGBank of America Financial Services Conference 202610 Feb 2026
- Fundraising up 49% to $10.7B, AUM at $91B, and share buyback raised to $255M.GCMGQ4 202510 Feb 2026
- Fee-related earnings up 20%, AUM at $78.7B, and margins improved with strong capital actions.GCMGQ2 20242 Feb 2026
- AUM reached $80B, earnings and fundraising surged, and a $0.11 dividend was declared.GCMGQ3 202415 Jan 2026
- Fundraising and earnings surged in 2024, with AUM at $80.1B and expanded capital returns.GCMGQ4 202423 Dec 2025
- Doubling fee-related earnings by 2028 through growth in private markets and retail channels.GCMGUBS Financial Services Conference23 Dec 2025
Next GCM Grosvenor earnings date
Q2 20266 Aug, 2026
GCM Grosvenor
Next GCM Grosvenor earnings date
Q2 20266 Aug, 2026
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Amina0781App Store
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@theshortbearx.com
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