CHICAGO, Nov. 17, 2020 /PRNewswire/ — GCM Grosvenor, a world different asset administration agency, and CF Finance Acquisition Corp. (“CFAC”) (NASDAQ: CFFA) introduced immediately that they’ve accomplished their enterprise mixture. The Class A standard inventory of the mixed firm, which can function as GCM Grosvenor Inc., is scheduled to start buying and selling on The Nasdaq Capital Market underneath the ticker “GCMG” starting on November 18, 2020.
GCM Grosvenor is a number one different options supplier with property underneath administration throughout personal fairness, infrastructure, actual property, credit score and absolute return funding methods. The agency is in its 50th 12 months of operation and is devoted to delivering worth for purchasers within the rising different funding asset courses.
“We’re excited to construct upon our 5 a long time as a pacesetter in offering different asset administration options to our purchasers,” stated Michael Sacks, GCM Grosvenor’s Chairman and CEO. “We now have lengthy believed that we succeed when our purchasers succeed, and we sit up for persevering with to serve our purchasers whereas constructing worth for our public shareholders.”
The money held in CFAC’s belief account, along with the $195 million in PIPE proceeds and $30 million funding from Cantor Fitzgerald, will likely be used to buy shares from sure GCM Grosvenor pre-transaction fairness holders, cut back GCM Grosvenor’s present indebtedness, fund GCM Grosvenor’s future progress, and pay transaction bills. On the completion of the transaction, GCM Grosvenor administration owns in extra of 78% of the fairness pursuits of the mixed firm.
J.P. Morgan served as unique monetary advisor to GCM Grosvenor on the enterprise mixture and William Blair & Firm served as capital markets advisor to GCM Grosvenor. Latham & Watkins LLP served as authorized counsel to GCM Grosvenor.
Cantor Fitzgerald & Co. acted as monetary and capital markets advisor to CFAC and The Klein Group, LLC acted as M&A advisor to CFAC. Hughes Hubbard & Reed LLP and Ellenoff Grossman & Schole LLP served as authorized counsel to CFAC.
J.P. Morgan and Cantor Fitzgerald & Co. served as placement brokers for the PIPE financing.
About GCM Grosvenor
GCM Grosvenor is a world different asset administration options supplier with property underneath administration throughout personal fairness, infrastructure, actual property, credit score, and absolute return funding methods. The agency is in its 50th 12 months of operation and is devoted to delivering worth for purchasers within the rising different funding asset courses.
GCM Grosvenor’s skilled staff of roughly 500 professionals serves a world shopper base of institutional and excessive web value buyers. The agency is headquartered in Chicago, with workplaces in New York, Los Angeles, London, Tokyo, Hong Kong, and Seoul.
About CF Finance Acquisition Corp.
CF Finance Acquisition Corp. is a public funding automobile shaped for the aim of effecting a merger, capital inventory change, asset acquisition, inventory buy, reorganization or related enterprise mixture with a number of companies. CFAC is led by its Chairman and Chief Government Officer, Howard W. Lutnick, who can also be the Chairman and Chief Government Officer of Cantor Fitzgerald. Previous to the enterprise mixture, CFAC’s securities had been traded on the Nasdaq Capital Market underneath the ticker symbols CFFA, CFFAW and CFFAU.
This press launch incorporates sure forward-looking statements throughout the that means of the Non-public Securities Litigation Reform Act of 1995, together with statements concerning the anticipated future efficiency of GCM Grosvenor’s enterprise and the finished enterprise transaction. These forward-looking statements usually are recognized by the phrases “consider,” “mission,” “count on,” “anticipate,” “estimate,” “intend,” “technique,” “future,” “alternative,” “plan,” “could,” “ought to,” “will,” “would” and related expressions. Ahead-looking statements are predictions, projections and different statements about future occasions which might be based mostly on present expectations and assumptions and, because of this, are topic to dangers and uncertainties. Many elements might trigger precise future occasions to vary materially from the forward-looking statements on this press launch, together with with out limitation, the historic efficiency of our funds might not be indicative of our future outcomes; dangers associated to redemptions and termination of engagements; impact of the COVID-19 pandemic on our enterprise; the variable nature of our revenues; competitors in our business; results of presidency regulation or compliance failures; market, geopolitical and financial situations; identification and availability of appropriate funding alternatives; and dangers associated to the efficiency of our investments. You need to fastidiously contemplate the foregoing elements and the opposite dangers and uncertainties described within the “Threat Components” part of the joint registration assertion/proxy assertion on Kind S-4 filed by GCM Grosvenor Inc. and its different filings with the U.S. Securities and Alternate Fee. These filings establish and tackle different vital dangers and uncertainties that would trigger precise occasions and outcomes to vary materially from these contained within the forward-looking statements. Ahead-looking statements converse solely as of the date they’re made. Readers are cautioned to not put undue reliance on forward-looking statements, and GCM Grosvenor assumes no obligation and doesn’t intend to replace or revise these forward-looking statements, whether or not on account of new info, future occasions, or in any other case, besides as required by legislation.
SOURCE GCM Grosvenor; CF Finance Acquisition Corp.