You're signed outSign in or to get full access.
Research Analyst at William Blair
Jeff Smith followed up on GCM Grosvenor's operating leverage and fee-related margin, asking if the company can sustain low expense growth and drive margin expansion through 2028.
Michael J. Sacks, Chairman and CEO, affirmed the company's belief in continued operating leverage and the ability to drive Fee-Related Earnings (FRE) margin and overall margin expansion through 2028.
Fintool can predict 
GCMG's earnings beat/miss a week before the call
Jeff Smith inquired about GCM Grosvenor's capital allocation strategy, specifically regarding the use of increased balance sheet cash from warrant exercises for debt paydowns and share buybacks. He also asked about the company's ability to maintain operating leverage and drive margin expansion through 2028, given the strong fee-related margin in 2025.
Chairman and CEO Michael Sacks explained that GCM Grosvenor remains a capital-light business, committed to a healthy dividend, and that recent share buybacks and debt paydowns (including $65 million of term loan) align with their strategy. He confirmed the company's belief in continued operating leverage and the ability to drive FRE margin expansion through 2028.
Fintool can write a report on GCMG's next earnings in your company's style and formatting