The prospectus states the Fund's objective is to seek absolute returns with low to moderate volatility and minimal correlation to global equity and fixed income markets while preserving capital. GCM Grosvenor L.P. pursues it through a multi-manager, multi-strategy program of investing at least 80% of net assets in private investment vehicles generally considered hedge funds, managed by unaffiliated Investment Managers, across equity hedge, event driven, relative value, macro/commodities and multi-strategy approaches. Investment Funds may use leverage, short sales and derivatives without Fund-level limits. At March 31, 2026 the Fund held interests in Investment Funds valued at $130.6 million.