Ariel Investment, an investment management company, released its “Ariel Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the fund generated a loss of -7.47%, underperforming the Russell 2500 Value Index, which returned a loss of -4.50%, and the Russell 2500 Index, which returned a -2.82% loss. Inflation concerns, Russia-Ukraine tension, energy price, and Federal Reserve’s aggressive actions impacted the investors’ confidence in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Ariel Investment highlighted stocks like Grosvenor Capital Management, L.P. (NASDAQ:GCMG) in the Q3 2022 investor letter. Headquartered in Chicago, Illinois, Grosvenor Capital Management, L.P. (NASDAQ:GCMG) is an asset management company. On December 1, 2022, Grosvenor Capital Management, L.P. (NASDAQ:GCMG) stock closed at $8.81 per share. One-month return of Grosvenor Capital Management, L.P. (NASDAQ:GCMG) was 10.26% and its shares lost 19.25% of their value over the last 52 weeks. Grosvenor Capital Management, L.P. (NASDAQ:GCMG) has a market capitalization of $1.646 billion.
Ariel Investment made the following comment about Grosvenor Capital Management, L.P. (NASDAQ:GCMG) in its Q3 2022 investor letter:
“We initiated two new positions in the quarter. We purchased locally headquartered alternative asset manager Grosvenor Capital Management, L.P. (NASDAQ:GCMG). With its over 50-year history, GCM Grosvenor is a pioneer of fund-of-funds investing and provides clients with customized multi-manager portfolios or portfolios of direct investments and co-investments. The company differentiates itself by focusing on middle market and small and emerging investments where it believes it adds the most value for clients. Grosvenor’s competitive advantages also include its long history and expertise in managing across multiple alternative classes, its leadership in ESG and impact investment strategies, its track record of solid performance, and operational scale. The company has the potential to increase its market share, especially through its ESG and Impact strategies, and improve on its economics as it expands globally and gains new business through its secondary, co-investments and direct investments platforms.”
Source: PEXELS
Grosvenor Capital Management, L.P. (NASDAQ:GCMG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Grosvenor Capital Management, L.P. (NASDAQ:GCMG) at the end of the third quarter which was 14 in the previous quarter.
We discussed Grosvenor Capital Management, L.P. (NASDAQ:GCMG) in another article and shared the list of dividend stock picks of Chuck Royce’s Royce & Associates. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
