GCM Grosvenor Hires Veteran Fundraiser to Boost European Expansion

Event summary

  • GCM Grosvenor appoints Steven Novick as Managing Director, Business Development, based in London.
  • Novick brings 20+ years of private markets fundraising experience across private equity, credit, and infrastructure.
  • He will focus on expanding relationships with institutional and individual investors in Europe, where GCM Grosvenor manages $10.4 billion AUM across 40+ clients.
  • Novick previously served as Senior Advisor to Valeas Capital and held senior roles at Crescent Capital, Coller Capital, Credit Suisse, and Merrill Lynch.

The big picture

GCM Grosvenor’s hire underscores the growing importance of Europe in the alternative asset management space, particularly as institutional investors seek diversified portfolios. With $91 billion in AUM globally, the firm is positioning itself to capture a larger share of the region’s growing appetite for private markets exposure. Novick’s deep fundraising experience suggests a strategic push to strengthen client relationships and differentiate GCM Grosvenor’s offerings in a crowded market.

What we're watching

European Growth Strategy
How GCM Grosvenor will leverage Novick’s Nordic region expertise to penetrate deeper into European markets.
Fundraising Momentum
Whether Novick’s global relationships can accelerate capital raising in Europe’s competitive alternative investment landscape.
Client Diversification
The pace at which GCM Grosvenor expands its European client base beyond the current 40 institutional and individual investors.