GCM Grosvenor to Launch Private Debt Secondaries Fund

Alternative asset manager GCM Grosvenor is reportedly set to launch a dedicated private debt secondaries fund. According to Secondaries Investor, the firm registered its GCM Grosvenor Credit Secondaries Fund in June with the U.S. Securities and Exchange Commission. The target size has not been disclosed and a launch date has not yet been announced.

Earlier this year, Chicago-based GCM Grosvenor appointed two new members to its credit team as it prepared to expand its reach in the sector. Brandon Cahill joined the firm from Blue Mountain Capital Management, while Scott Ingles joined from Carlyle Group.

Last month, GCM co-led the funding on Guggenheim Investments’ $1.2 billion private credit vehicle. Earlier in the year, the firm launched the $1.25 billion GCM Grosvenor Secondary Opportunities Fund IV, which focuses on private equity opportunities.

The private debt secondaries market has been targeted by several large asset managers in recent months. In January, Apollo said it was looking to raise $2 billion for its second credit secondaries fund. Last month, Goldman Sachs raised a record $3.4 billion for its real estate secondaries fund.