GCM Grosvenor Raises $1.2B for Maiden Private Credit Secondaries Fund
GCM Grosvenor has held the final close of its inaugural Credit Secondaries Fund at $1.2 billion in total commitments, including capital raised for the fund and alongside it, expanding the Chicago-based alternative asset manager’s credit platform into the secondary market.
The strategy targets opportunities across credit sub-strategies with a particular focus on opportunistic corporate and asset-backed investments in the secondary market. It sits alongside GCM Grosvenor’s existing credit capabilities in primary funds, co-investments, and direct investing. The firm’s broader credit platform manages more than $17 billion in assets.
“Private credit secondaries require disciplined underwriting at the single name and fund level, deep market knowledge, relationships, and strong sourcing capabilities. We’re fortunate to be able to lever our role in the private credit ecosystem to originate and underwrite differentiated opportunities and construct a diversified portfolio with a focus on prudent risk management,” Steve McMillan, head of credit research, GCM Grosvenor.
The firm positions its credit secondaries capability as complementary to both new and existing credit investors, offering a comprehensive diversified entry point for those building initial credit allocations and a differentiated complement for institutions looking to scale established private credit programs through secondary exposure.
GCM Grosvenor manages approximately $91 billion in assets across private equity, infrastructure, real estate, credit, and absolute return strategies.
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