GCM Grosvenor

About the fund

The Elevate Fund is an $800 million GP seeding vehicle managed by GCM Grosvenor and anchored by the California Public Employees Retirement System. The fund provides minority equity stakes in emerging fund management companies alongside anchor LP commitments and working capital to support platform development and operational scaling. By investing in GP stakes across the alternative asset management industry, the fund targets experienced emerging managers seeking capital and strategic partnership to establish or expand their investment operations. The vehicle closed its fundraising in January 2025 and is structured to serve institutional investors seeking exposure to the alternative asset management ecosystem through a diversified portfolio of fund manager investments.

Limited PartnersCalifornia Public Employees’ Retirement System (CalPERS)Anchor LP