Sowing the seed
27.01.2025 – Articles
GCM Grosvenor has just raised the largest debut fund for GP seeding. Here we take a quick dip into the rapidly growing GP seeding market, including a list of the key players.
GCM Grosvenor’s final close on $800m for its inaugural Elevate Fund marks a major milestone in rapidly growing GP stakes market. It is the largest ever debut fund raised for GP seeding.
Launched in 2023, Elevate makes seed investments in small and emerging private equity firms, focused on lower- and middle-market buyout strategies across industries.
The fund is backed by California Public Employees’ Retirement System (CalPERS) alongside a cohort of corporate, endowment, foundation, insurance, and single and multi-family office investors.