Grosvenor
Americannoun
Example Sentences
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Torch Key Asset Management, a new firm focused on complex deals in the midmarket, has opened with the backing of private-markets investment manager GCM Grosvenor.
Publicly listed GCM Grosvenor, which is based in Chicago and manages about $91 billion, provided an anchor investment from its Elevate strategy, which funds new and emerging managers.
The connection with GCM Grosvenor came about through a One Rock deal Reed and Rosenberg worked on, in which the Chicago firm co-invested: water-delivery company Primo Brands, which went public in 2024.
On that transaction, GCM Grosvenor executives appreciated her and her co-founders’ investment approach, Reed said.
GCM Grosvenor provides seed funding to new private-equity general partners through the Elevate strategy, which closed its first fund in December 2024 with about $800 million, including $500 million from the California Public Employees’ Retirement System.
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