GCM Grosvenor Appoints Steven Novick as Managing Director, Business Development, Expanding Firm’s Presence in Europe

GCM Grosvenor (Nasdaq: GCMG) appointed Steven Novick as Managing Director, Business Development, based in London on March 12, 2026.

Rhea-AI Summary

GCM Grosvenor (Nasdaq: GCMG) appointed Steven Novick as Managing Director, Business Development, based in London on March 12, 2026. Mr. Novick will focus on client engagement and expanding relationships across Europe, including the Nordic region, where the firm manages $10.4 billion of AUM across more than 40 clients.

He brings more than 20 years of private markets fundraising and origination experience across private equity, credit, and infrastructure and will support access to differentiated alternative investment strategies.

Positive

• European AUM of $10.4 billion across 40+ clients
• Appointment strengthens London-based business development team
• Novick brings 20+ years of private markets fundraising experience

Negative

• None.

Argus Mar 12 session

-8.52% close to close Open Argus

Details

News Market Reaction – GCMG

On Mar 12, the day this news came out, GCMG closed 8.52% below the previous close.

Data tracked by StockTitan Argus for the Mar 12 session.

Market Context

On Mar 12, the day this news came out, the stock closed 8.5% below the previous close. A negative re...

Analysis

On Mar 12, the day this news came out, the stock closed 8.5% below the previous close. A negative reaction despite neutral-to-positive news about expanding European business development would fit a market focusing more on capital structure and issuance capacity than on incremental hiring. GCM Grosvenor already maintains an effective $350 million shelf and has used an at-the-market program of up to $100 million, which could weigh on sentiment if investors remain cautious about potential dilution, even as the firm continues to grow AUM and client relationships.

Key Figures

European AUM: $10.4 billion European clients: More than 40 clients Experience: More than 20 years

European AUM

$10.4 billion

Assets under management in Europe mentioned in the announcement

European clients

More than 40 clients

Number of European clients served as cited in article

Experience

More than 20 years

Mr. Novick’s private markets fundraising and origination experience

Historical Context

5 past events · Latest: Mar 04

5 events

1. Mar 04

   PE platform launch

   24h Move

   +1.5%

   Backed launch of Torch Key Asset Management with Elevate Fund capital.

2. Mar 02

   Strategic partnership

   24h Move

   +1.0%

   Formed long-term venture with Portal Warehousing for micro-bay industrial assets.

3. Feb 24

   Credit capital raise

   24h Move

   +1.2%

   Announced structured alternatives solution with total commitments of $625 million.

4. Feb 10

   FY 2025 earnings

   24h Move

   +14.1%

   Reported strong 2025 fundraising and income growth with dividend and buyback actions.

5. Jan 28

   Conference presentation

   24h Move

   -1.3%

   Announced UBS conference appearance with webcast and replay details.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

aum

1 terms

aum financial

"where it manages $10.4 billion of AUM across more than 40 clients"

Assets under management (AUM) is the total market value of investments that a financial firm or fund manages on behalf of clients. Investors watch AUM like the size of a shop: larger AUM can mean more fee revenue, greater market influence and perceived stability, while rapid changes in AUM signal growing popularity or redemptions that may affect future earnings and investment strategy.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CHICAGO, March 12, 2026 (GLOBE NEWSWIRE) -- GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider, today announced that Steven Novick has joined the firm as a Managing Director on its Business Development team. Based in the firm’s London office, Mr. Novick will focus on client engagement efforts, supporting the firm’s continued growth and expanding relationships with institutional and individual investors across Europe, where it manages $10.4 billion of AUM across more than 40 clients.

Mr. Novick brings more than 20 years of private markets fundraising and origination experience across private equity, credit, and infrastructure. He has raised capital from institutional and individual investors globally throughout his successful career. In his new role, he will support clients with access to differentiated alternative investment strategies and contribute to the firm’s ongoing growth initiatives by leveraging his global relationships while focusing on opportunities in Europe, including the Nordic region. 

“We are pleased to welcome Steven to GCM Grosvenor,” said Jon Levin, President of GCM Grosvenor. “His extensive fundraising experience, longstanding investor relationships and entrepreneurial mindset will be instrumental as we continue to broaden our European client partnerships and deliver tailored alternative investment solutions.”

Prior to joining GCM Grosvenor, Mr. Novick served as Senior Advisor to Valeas Capital, a growth-buyout firm, where he helped shape capital formation strategy and source strategic limited partners. Earlier in his career, Mr. Novick was a Managing Director at Crescent Capital and held senior roles at Coller Capital, Credit Suisse, and Merrill Lynch.

“I am excited to join GCM Grosvenor,” said Mr. Novick. “The firm’s long-standing reputation, global platform and breadth of alternative investment capabilities position it well to serve the evolving needs of investors. I look forward to deepening existing partnerships and building new relationships.”

Mr. Novick holds a B.A. in Economics and History from New York University.

About GCM Grosvenor
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $91 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform.

GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.

Media Contact
Abigail Ruck
H/Advisors Abernathy
abigail.ruck@h-advisors.global
212-371-5999

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is Steven Novick and what role did he take at GCM Grosvenor (GCMG) on March 12, 2026?

Steven Novick was named Managing Director, Business Development, focused on European clients. According to the company, he joins from advisory and private markets roles to lead client engagement from the London office and expand relationships across Europe, including the Nordics.

How much European assets does GCM Grosvenor (GCMG) manage and how does Novick's hire relate?

GCM Grosvenor manages $10.4 billion of AUM across more than 40 European clients. According to the company, Novick will leverage his fundraising experience to deepen those client relationships and support the firm’s European growth initiatives.

What experience does Steven Novick bring to GCM Grosvenor (GCMG) for European growth?

Novick brings over 20 years of private markets fundraising and origination across private equity, credit, and infrastructure. According to the company, his background includes senior roles and advisory work focused on capital formation and sourcing strategic limited partners.

Will Steven Novick be based in GCM Grosvenor's London office and focus on the Nordics for GCMG?

Yes, Novick is based in the London office and will focus on Europe, including the Nordic region. According to the company, his role centers on client engagement and expanding institutional and individual investor relationships across those markets.

What previous firms did Steven Novick work with before joining GCM Grosvenor (GCMG)?

Novick previously served as Senior Advisor to Valeas Capital and held senior roles at Crescent Capital, Coller Capital, Credit Suisse, and Merrill Lynch. According to the company, this experience informs his capital-raising and client-engagement work at GCM Grosvenor.