GCM Grosvenor Inc. (NASDAQ:GCMG) Q1 2023 Earnings Conference Call May 10, 2023 10:00 AM ET
Company Participants
Stacie Selinger - Head, Investor Relations
Michael Sacks - Chairman and Chief Executive Officer
Jon Levin - President
Pam Bentley - Chief Financial Officer
Conference Call Participants
Bill Katz - Credit Suisse
Chris Kotowski - Oppenheimer
Adam Beatty - UBS
Alex Bernstein - JPMorgan
Michael Cyprys - Morgan Stanley
Tyler Mulier - William Blair
Operator
Welcome to the GCM Grosvenor 2023 First Quarter Results Call. [Operator Instructions] As a reminder, this call can be recorded. I would now like to hand the call over to Stacie Selinger, Head Investor – Head of Investor Relations. You may begin.
Stacie Selinger
Thank you. Good morning, and welcome to GCM Grosvenor’s first quarter 2023 earnings call. Today, I am joined by GCM Grosvenor’s Chairman and Chief Executive Officer, Michael Sacks; President, Jon Levin; and Chief Financial Officer, Pam Bentley.
Before we discuss this quarter’s results, a reminder that all statements made on this call that do not relate to matters of historical facts should be considered forward-looking statements. This includes statements regarding our current expectations for the business, our financial performance and projections. These statements are neither promises nor guarantees. They involve known and unknown risks, uncertainties and other important factors that may cause our actual results to differ materially from those indicated by the forward-looking statements on this call.
Please refer to the factors in the Risk Factors section of our 10-K, our other filings with the Securities and Exchange Commission and our earnings release, all of which are available on the Public Shareholders section of our website. We’ll also refer to non-GAAP measures that we view as important in assessing the performance of our business. A reconciliation of non-GAAP metrics to the nearest GAAP metric can be found in our earnings presentation and earnings supplement, both of which are available on the Public Shareholders section of our website. Our goal is to continually improve how we communicate with and engage with our shareholders. And in that spirit, we look forward to your feedback.
Thank you again for joining us. And with that, I’ll turn the call over to Michael.
Michael Sacks
Thank you, Stacy. The first quarter of 2023 marked the fourth consecutive year with significant first quarter volatility and market dislocation. From COVID to meme stocks, the war in Ukraine, the Silicon Valley Bank and Credit Suisse, the first quarter of each of the last 4 years has been tough for investors. Through each of these periods, GCM Grosvenor has enjoyed relative stability in our portfolios for clients and in our business for team members and shareholders. The strength of the alternative asset management strategies generally and the strength of GCM Grosvenor’s broad-based, diversified solutions approach specifically shines during volatile times. As such, our confidence in the value proposition we bring to clients, and in the value of our firm for shareholders remains strong.