KBRA Affirms the Notes Issued by GCM Grosvenor Diversified Alternatives Issuer LLC
31 Oct 2024 | New York
KBRA has affirmed the outstanding ratings and outlooks assigned to the Class A Notes, Class B Notes and Class C Notes (collectively, the “Notes”) issued by GCM Grosvenor Diversified Alternatives Issuer LLC (in such capacity, the “Issuer”).
Since last year’s review, transaction performance has been generally stable. Deployment and realization pace have been broadly in line with initial expectations. The outstanding amount of debt is unchanged, with small improvements in the value of underlying collateral contributing to an improvement in overall LTV. As initially planned, the portfolio has been transitioning from Money Market and Liquid Products towards a larger weighting in Drawdown Products. KBRA’s decision to affirm the outstanding ratings on the Notes and maintain a Stable outlook considers all the above factors, as well as GCM Grosvenor’s demonstrated ability to continue deployment into Drawdown Products of representative quality and characteristics as initially projected.
GCM Grosvenor is a large independent alternative asset manager. Founded in 1971, GCM Grosvenor now has a global presence, with 176 investment professionals headquartered across nine main global offices. As of June 30, 2024, the Company manages $79 billion of AUM, of which $56 billion is invested in private markets, including private equity, private credit, and infrastructure. GCM Grosvenor has a diverse institutional investor base coupled with a lengthy track record of stable performance and demonstrated capital raising capabilities.
This press release has been re-published on March 11, 2025, to include updated shareholder disclosures.
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