Our Business GCMLP (including its predecessors) has been in business since 1971. GCM CFIG is the successor to the Customized Fund Investment Group, which, from late 2000 to January 2, 2014, was a business unit within the asset management division of Credit Suisse Group AG (Credit Suisse). On January 2, 2014, Grosvenor Capital Management Holdings, LLLP (GCM Holdings), a Delaware (USA) limited liability limited partnership, acquired certain assets associated with the Customized Fund Investment Group from Credit Suisse. Each GCM Adviser provides the following investment management and advisory services, on a discretionary and non- discretionary basis, for alternative investments to investment vehicles and separately managed accounts (GCM Grosvenor Funds): ▪ Multi-investor GCM Grosvenor Funds managed or advised by a GCM Adviser (Specialized GCM Funds) We offer investment vehicles designed for multiple investors who seek ease of investment, diversification, and choice of strategy. ▪ Single-investor GCM Grosvenor Funds managed or advised by a GCM Adviser (Customized GCM Separate Accounts) We offer customized investment vehicles and separate accounts designed for investors seeking a customized mandate, control over structure, and/or involvement in the investment process. We collaborate with investors to design, implement, and monitor customized portfolios tailored to the investor’s needs. GCM Grosvenor Funds invest primarily in alternative investment strategies, including private equity, absolute return strategies, credit, infrastructure, and real estate. GCM Grosvenor Funds invest (directly or indirectly through special purpose vehicles formed for the purpose of making investments) either in trading and/or investment positions, portfolio companies, real assets, market exposures, debt, and/or various sources of risk premia sourced by Investment Managers or by GCM Grosvenor, or through investment pooled investment vehicles or accounts (Underlying Funds) managed by third- party investment managers (Investment Managers) or by a GCM Adviser. Although investors in the GCM Grosvenor Funds that are organized as legal entities are not, in their capacity as such, our clients for regulatory purposes, we sometimes refer to those investors as our clients. Advisory Services The GCM Advisers offer clients who seek assistance in designing, building, and managing their alternative investment programs a wide range of tailored, non-discretionary services in the following areas: Program Design – We work with clients to design the framework of their alternative investment programs. We also help clients define and document policies for their overall programs and/or individual portfolios. Operational Infrastructure – We work with clients to design and implement the operational infrastructure for their alternative investment programs. To achieve their operational goals, clients sometimes build in-house capabilities, leverage our administrative services, and/or engage third-party service providers. Due Diligence – Clients may access our research, due diligence, and views about investments, Investment Managers and Underlying Funds through our due diligence reports and conversations with our staff. Investment Managers and Underlying Funds may be sourced by us or the client. We sometimes conduct due diligence and monitoring jointly with the client’s staff. Structuring – We assist clients who are developing their alternative investment programs in assessing and selecting the appropriate structures for their alternative investments. Clients building direct investment programs and customized portfolios do under certain circumstances benefit from our experience negotiating advantageous terms with Investment Managers, which may include lower effective fees, improved terms, separate accounts, and/or other side letter provisions. In addition, we do permit clients to participate in investments that reflect customized structures or terms negotiated between us and certain Investment Managers. Portfolio and Risk Management – We offer clients advice on constructing and managing customized portfolios. Under certain circumstances, clients sometimes access our portfolio management tools to manage their portfolios with the assistance of our investment professionals. Our risk aggregation and analytical capabilities help clients measure, monitor, and stress test certain risks associated with investments in alternative investment programs. Technology Solutions – We provide a range of technology solutions to assist clients in managing their alternative investment processes. Knowledge Transfer – We

offer clients educational and training sessions to assist in the development of their in-house alternative investment knowledge and capabilities. Transition Services – We assist clients in managing the orderly liquidation or transfer of alternative investment portfolios previously managed by clients or other investment managers. Portfolio Administration Services We provide portfolio administration services (Portfolio Administration Services) for certain clients, designed to integrate portfolio administration for all of a client’s alternative investments, including those investments that are sourced and executed directly by the investor or through other parties, such as the investor’s consultants or other investment managers or advisers. Portfolio Administration Services may include: ▪ tracking cash flow activity and developing appropriate cash flow activity categorizations ▪ reviewing and reconciling capital calls and distributions ▪ recording quarterly capital account adjustments ▪ reconciling quarterly reports received by an investor in respect of its investments ▪ providing document management services ▪ providing an investor with various fund-by-fund and aggregate reporting ▪ providing an investor with various look-through underlying asset level exposure reporting Such an investor typically has access to the reports described above through a password-protected portal into our proprietary systems. Investment Monitoring Services We provide Investment Monitoring Services (Investment Monitoring Services) for certain clients seeking assistance in monitoring their alternative investments, including investments held directly by the client. Investment Monitoring Services may include: ▪ testing the schedule of unrealized investments ▪ reviewing distribution notices ▪ monitoring capital calls to verify reasonableness of management fee calculations ▪ reviewing amendment and consent requests made by an Investment Manager and providing a written summary and review of the terms of the amendment or consent ▪ attending periodic meetings held by an investor’s private fund program’s Investment Managers and preparing brief reports of any relevant updates ▪ reviewing equity ownership of individual portfolio companies to ensure compliance with internal client policies Ancillary Information Provided as a Courtesy At a client’s request, each GCM Adviser may provide information, advice, opinions, evaluations, recommendations, forecasts, or suggestions (Ancillary Information) that relate to matters outside the scope of such GCM Adviser’s management of the client’s assets. Ancillary Information typically is general in nature and does not consider a client’s particular circumstances or needs. Therefore, Ancillary Information is not, and should not be considered, advice with respect to the purchase, sale, holding, or management of securities or other assets. Unless we expressly agree otherwise with a client, we provide Ancillary Information solely as a courtesy, and do not assume any duties to the client other than the duty to act in good faith in connection with providing Ancillary Information to the client. Our Assets Under Management As provided in Item 5.f(2) of Part 1 of our SEC Form ADV, as of December 31, 2022, our assets under management was $34.35 billion and $44.7 billion, for GCMLP and GCM CFIG, respectively. Our Principal Owner Our principal owner is Grosvenor Capital Management Holdings, LLLP (GCM Holdings), a Delaware (USA) limited liability limited partnership. GCM Grosvenor Inc. (GCMG), a public company traded on the Nasdaq exchange under the ticker symbol GCMG, indirectly controls GCM Holdings and our general partner, GCM, L.L.C. Employees and former employees of companies associated with GCM Grosvenor, as well as certain other persons formerly associated with us, indirectly own a majority interest in GCM Holdings. Michael J. Sacks, our Chairman and Chief Executive Officer (a) controls approximately 75% of the voting power of GCMG, and (b) owns a majority interest in GCM Holdings through several intermediate entities that he controls and of which he is the principal owner. Information about GCMG, including certain ownership, governance and financial information, is disclosed in the firm’s periodic filings with the SEC, which can be obtained from the firm’s website at www.gcmgrosvenor.com or the SEC’s website at www.sec.gov.