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Virtus Investment Partners vs GCM Grosvenor: VRTS and GCMG compared
Virtus Investment Partners is the larger company: $198M of revenue in its latest quarter (Q3 2026) against $134M for GCM Grosvenor (Q2 2026). GCM Grosvenor is growing faster (+12% against -9% a year earlier). GCM Grosvenor is more profitable, with an operating margin of 26.4% against 17.4%.
Where the money goes: VRTS and GCMG
Virtus Investment Partners (VRTS) · Q3 2026
Virtus Investment Partners, Q3 2026: revenue $198M (-9% year over year), operating margin 17.4%, net earnings $22.1M, operating cash flow $75.3M. The chart follows the revenue to costs, profit and cash.
GCM Grosvenor (GCMG) · Q2 2026
GCM Grosvenor, Q2 2026: revenue $134M (+12% year over year), operating margin 26.4%, net earnings $9.6M, operating cash flow $38.1M. The chart follows the revenue to costs, profit and cash.
| Virtus Investment Partners (VRTS) | GCM Grosvenor (GCMG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $198M | $134M |
| Revenue growth, Y/Y | -9% | +12% |
| Operating margin | 17.4% | 26.4% |
| Net earnings | $22.1M | $9.6M |
| Net margin | 11.2% | 7.1% |
| Operating cash flow | $75.3M | $38.1M |
| Free cash flow | $74.4M | $36.3M |
| Market value | $833M | — |
| P/E | 7.2× | — |
| Analysts’ mean target | $129.75 | — |
Where the revenue comes from
Virtus Investment Partners
- Investment management fees: $167M (85%)
- Administration and shareholder service fees: $17.3M (9%)
- Distribution and service fees: $11.5M (6%)
- Other income and fees: $1.5M (1%)
GCM Grosvenor
- Total management fees: $115M (85%)
- Total incentive fees: $17.6M (13%)
- Other operating income: $2.0M (1%)
Questions
Which is bigger, Virtus Investment Partners or GCM Grosvenor?
Virtus Investment Partners is the larger company: $198M of revenue in its latest quarter (Q3 2026) against $134M for GCM Grosvenor (Q2 2026).
Is Virtus Investment Partners or GCM Grosvenor growing faster?
GCM Grosvenor is growing faster (+12% against -9% a year earlier).
Which is more profitable, Virtus Investment Partners or GCM Grosvenor?
GCM Grosvenor is more profitable, with an operating margin of 26.4% against 17.4%.
More: Virtus Investment Partners earnings · how Virtus Investment Partners makes money · GCM Grosvenor earnings · how GCM Grosvenor makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 9, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.