GCM Grosvenor Inc. Enters Material Definitive Agreement

TL;DR

GCMG just signed a big financial deal, could impact their cash.

AI Summary

On May 21, 2024, GCM Grosvenor Inc. entered into a material definitive agreement related to a direct financial obligation. The filing does not specify the counterparty or the exact nature of the obligation, but it is a significant event for the company's financial standing.

Why It Matters

This filing indicates a new financial commitment or obligation for GCM Grosvenor, which could impact its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement, especially one creating a direct financial obligation, carries inherent risks related to the terms and potential impact on the company's financial health.

Key Players & Entities

• GCM Grosvenor Inc. (company) — Registrant
• May 21, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — tered Class A common stock, par value $0.0001 per share GCMG The Nasdaq Stock Mar
• $50.0 million — m loans under the Term Loan Facility by $50.0 million. The interest rates with respect to th
• $438.0 million — fect to the Amendment, the Borrower had $438.0 million in outstanding principal amount of term
• $0 — loans under the Term Loan Facility, and $0 drawn on its $50.0 million Revolving Fa
• $50.0 million — Term Loan Facility, and $0 drawn on its $50.0 million Revolving Facility. This summary is qu

Filing Documents

• ea0206686-8k_gcmgros.htm (8-K) — 33KB
• ea020668601ex10-1_gcmgros.htm (EX-10.1) — 1797KB
• 0001213900-24-045937.txt ( ) — 2409KB
• gcmg-20240521.xsd (EX-101.SCH) — 4KB
• gcmg-20240521_def.xml (EX-101.DEF) — 26KB
• gcmg-20240521_lab.xml (EX-101.LAB) — 36KB
• gcmg-20240521_pre.xml (EX-101.PRE) — 25KB
• ea0206686-8k_gcmgros_htm.xml (XML) — 6KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On May 21, 2024 (the "Effective Date"), Grosvenor Capital Management Holdings, LLLP (the "Borrower"), Grosvenor Holdings, L.L.C., Grosvenor Holdings II, L.L.C., GCM Grosvenor Management, LLC, GCM Progress Subsidiary LLC, the guarantors, parent GPs and GP entities (as defined therein) party thereto, the lenders party thereto, and Morgan Stanley Senior Funding, Inc. (the "Administrative Agent") entered into an eighth amendment (the "Amendment") to the Borrower's credit agreement, dated as of January 2, 2014 (as amended, amended and restated, modified or supplemented from time to time, the "Credit Agreement"). Among other things, the Amendment (i) amends and extends the tenors of the Borrower's (x) secured term loan facility (the "Term Loan Facility") from February 24, 2028 to February 24, 2030 and (y) secured revolving credit facility (the "Revolving Facility" and, together with the Term Loan Facility, the "Facilities") from February 24, 2026 to February 24, 2028 and (ii) upsizes the principal amount of term loans under the Term Loan Facility by $50.0 million. The interest rates with respect to the Facilities are based on, at the Borrower's option, a rate of interest based on forward-looking term SOFR or an alternative base rate, plus an applicable margin. In connection with the Amendment, the applicable margin for the Facilities was reduced by 0.25% at each pricing level. Following the effectiveness of the Amendment, the applicable margin is (i) in the case of the Term Loan Facility, equal to 2.25% (vs. 2.50%) for SOFR-based term loans and 1.25% (vs. 1.50%) for base rate-based term loans, and (ii) in the case of the Revolving Facility, ranges from 2.0% to 2.25% (vs. 2.25% to 2.50%) for SOFR-based revolving credit loans and 1.0% to 1.25% (vs. 1.25% to 1.50%) for base rate-based revolving credit loans based on the Borrower's then applicable first lien secured leverage ratio. To the extent the SOFR rate for any

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 8, dated as of May 21, 2024, to the Credit Agreement, dated as of January 2, 2014, among Grosvenor Capital Management Holdings, LLLP, as borrower, Grosvenor Holdings, L.L.C., Grosvenor Holdings II, L.L.C., GCM Grosvenor Management, LLC, GCM Progress Subsidiary LLC, the several lenders from time to time parties thereto, and Morgan Stanley Senior Funding, Inc., as administrative agent, collateral agent and swingline lender 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL Document) 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GCM Grosvenor Inc. Date: May 22, 2024 By: /s/ Michael J. Sacks Name: Michael J. Sacks Title: Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR