BUZZ-GCM Grosvenor climbs after Q4 profit beats expectation

Shares of alternative asset manager GCM Grosvenor GCMG.O jump as much as 6.5%; last up 3.2% at $13.99

GCMG posts Q4 adjusted profit of 27 cents/shr, beating analysts' average estimate of 23 cents/shr, according to data compiled by LSEG

Q4 fee-related earnings jump 22% to $49.2 million, while assets under management climbs 4% to $80.1 billion from a year earlier

GCMG raised $2.3 billion of new capital in Q4, its highest fundraising quarter in more than two years

Shares jumped 37% in 2024