CHICAGO, May 8, 2018 /PRNewswire/ -- Today, GCM Grosvenor announced the addition of one of the nation's most prominent labor leaders to bolster its growing direct infrastructure business. Jorge Ramirez, former President of the Chicago Federation of Labor (CFL) and former Vice-President and member of the Executive Council of the AFL-CIO will join GCM Grosvenor as a Managing Director and will lead Labor Strategies for its Labor Impact Infrastructure business. Labor Impact investing is investment in infrastructure that relies on a collaboration with union labor to unlock infrastructure opportunities and generate high quality risk-adjusted returns, while creating an enduring positive impact on organized labor. At GCM Grosvenor, Ramirez will be focused on originating investment opportunities and structuring and monitoring investments.
"Jorge and I have known each other and worked together for almost 8 years. Jorge shares our firm's belief that bringing a pro labor agenda to infrastructure investing can deliver good results, improve infrastructure for communities and further organized labor's agenda," said Michael J. Sacks, Chairman and CEO of GCM Grosvenor. "Jorge is a highly respected and nationally recognized labor leader whose integrity, skillset and breadth of experience will add tremendous value to our labor impact infrastructure efforts in particular and to our firm in general."
Ramirez has served as an officer of the CFL since July 2006 and was elected as its first Latino president in July 2010. The son of Mexican immigrants, Ramirez learned his first lessons in labor from his father, who worked as a meat packing worker in Chicago's Back of the Yards neighborhood and fought alongside his fellow workers to unionize their workplace in the 1960s. Today those lessons continue to motivate Ramirez to dedicate his professional life to support union men and women worldwide.
"I am excited to embark on this new challenge. This is an incredible opportunity to continue my life's work, which is to promote organized labor's values, but this time from the private sector," Ramirez said. "Grosvenor's Labor Impact investment strategy is a new and differentiated investment approach because it relies on the utilization of union labor. I will be proud to help drive it to success."
About GCM Grosvenor
GCM Grosvenor is a global alternative asset management firm with approximately $50 billion of assets under management in hedge fund strategies, private equity, infrastructure, real estate and multi-asset class solutions. It is one of the largest, most diversified independent alternative asset management firms worldwide.
GCM Grosvenor has offered alternative investment solutions since 1971. The firm is headquartered in Chicago, with offices in New York, Los Angeles, London, Tokyo, Hong Kong and Seoul. GCM Grosvenor serves a global client base of institutional and high net worth investors.
SOURCE GCM Grosvenor