1. Shares will be sold only to persons that are “qualified clients,” as defined in Rule 205-3 of the Investment Advisers Act of 1940. See the prospectus for more information.

2. “Middle Market” is defined as companies with total enterprise values of $1.5 billion or less – often generating $20 million to $100 million of earnings before interest, taxes, depreciation and amortization (“EBITDA”) – with target companies primarily located in North America and Western Europe.

3. Since 2000, GCM Grosvenor has committed approximately [$21] billion to or alongside more than [260] Middle Market buyout managers globally and has completed more than [150] investments directly in Middle Market Private Equity Assets since 2009, underscoring the firm’s depth of experience in this segment.

Investors should consider the investment objectives, risks, charges, and expenses of PECO carefully before investing. Before investing, carefully read the prospectus, which can be found on this website.

IMPORTANT NOTE ON INVESTOR ELIGIBILITY: Although PECO’s shares of beneficial interest (“Shares”) will be registered under the Securities Act of 1933, as amended (the “Securities Act”), each prospective investor in PECO will be required to certify that it is a “qualified client” within the meaning of Rule 205-3 under the Advisers Act. The qualifications required to invest in PECO will appear in subscription documents that must be completed by each prospective investor.

Investments in alternatives are speculative and involve substantial risk, including market risks, credit risks, macroeconomic risks, liquidity risks, manager risks, counterparty risks, interest rate risks, and operational risks, and may result in the possible loss of your entire investment. No assurance can be given that any investment will achieve its objectives or avoid losses. The views expressed are for informational purposes only and are not intended to serve as a forecast, a guarantee of future results, investment recommendations, or an offer to buy or sell securities by GCM Grosvenor. The investment strategies mentioned are not personalized to your financial circumstances or investment objectives, and differences in account size, the timing of transactions and market conditions prevailing at the time of investment may lead to different results. 

PECO is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) designed for long-term investors and not as a trading vehicle. Closed-end funds differ from open-end funds in that closed-end funds do not redeem their shares at the request of an investor. No shareholder has the right to require PECO to redeem their PECO shares. PECO shares are not listed on any securities exchange, and it is not anticipated that a secondary market for PECO shares will develop. PECO shares are subject to substantial restrictions on transferability, and liquidity will be provided only through limited tender offers. There can be no assurance that PECO will conduct tender offers in a particular period. Although PECO may offer to repurchase Shares from time to time, PECO shares will not be redeemable at an investor’s option nor will they be exchangeable for shares of any other fund.  As a result, an investor may not be able to sell or otherwise liquidate their PECO shares. PECO’s investment adviser, GCM Grosvenor Wealth L.P., intends to recommend that, in normal market circumstances, the PECO board of trustees (“Board”) conduct quarterly tender offers of no more than 5% of the Fund’s net asset value. The tender offers are subject to the approval of the Board. PECO’s shares are not listed on any securities exchange or traded in any other market, and it is not anticipated that a secondary market for the shares will develop. An investment in PECO may not be suitable for investors who may need the money they invested in a specified timeframe. LIQUIDITY IN ANY GIVEN QUARTER IS NOT GUARANTEED. YOU SHOULD NOT INVEST IN PECO IF YOU NEED A LIQUID INVESTMENT.

PECO is non-diversified, which means that it may invest a greater portion of its assets in a more limited number of issuers than a diversified fund. An investment in a non-diversified fund may present greater risk to an investor than an investment in a diversified portfolio because changes in the financial condition or market assessment of a single issuer or small number of issuers may cause greater fluctuations in the value of the fund’s shares.

In general, alternative investments such as private equity involve a high degree of risk, including potential loss of principal invested. These investments can be highly illiquid, charge higher fees than other investments, and typically do not grow at an even rate of return and may decline in value. PECO has limited operating history upon which investors can evaluate potential performance. In addition to all of the risks inherent in alternative investments, an investment in the Fund involves specific risks associated with private equity investing. PECO invests in private equity transactions in sectors including, but not limited to, business services, consumer staples, financials, healthcare, industrials, and information technology sectors, or funds or other investment vehicles holding investments in those sectors. Such investments are subject to certain risks, including risks related to illiquidity, indirect fees, valuation, limited operating histories, sector concentration, limited information regarding underlying investments, and risks associated with financial market developments, investment sourcing, and the valuation of investments.

The Fund’s investment portfolio will consist primarily of co-investment, originated investments and single-asset secondaries. Such investments involve a high degree of business and financial risk that can result in substantial losses. An investment in PECO is subject to general risks related to general economic and market conditions, including market disruption and geopolitical risk, inflation, foreign currencies, cyber security risk, development of artificial intelligence and machine learning. PECO may not qualify for the intended tax treatment as a regulated investment company (“RIC”) under the Internal Revenue Code of 1986, as amended (the “Code”). PECO will be subject to corporate-level U.S. federal income tax on all of its net income if it is unable to maintain RIC tax treatment under the Code.

Unless apparent from context, all statements herein represent GCM Grosvenor’s opinion.

GRV Securities LLC (“GSLLC”), an affiliate of GCM Grosvenor and a member of the U.S. Financial Industry Regulatory Authority, Inc., acts as a placement agent or distributor on behalf of certain GCM Funds, including PECO. GSLLC does not offer any investment products other than interests in certain funds managed by GCM Grosvenor and/or its affiliates. Neither GCM Grosvenor nor any of its affiliates acts as agent/broker for any Investment.