SC 13G/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2(b)

(Amendment No. 1)¹

PAE Incorporated

 (Name of Issuer)

Class A Common Stock, par value $0.0001 per share

 (Title of Class of Securities)

69290Y109

 (CUSIP Number)

December 31, 2020

 (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐  Rule 13d-1(b)

☒  Rule 13d-1(c)

☐  Rule 13d-1(d)

1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			PVM Pinnacle Holdings, LLC
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			State of Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					SOLE VOTING POWER 0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					0
			8	SHARED DISPOSITIVE POWER
					7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			OO

2

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			GCM CFIG GP, LLC
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			State of Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					SOLE VOTING POWER 0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					SOLE DISPOSITIVE POWER 0
			8	SHARED DISPOSITIVE POWER
					SHARED DISPOSITIVE POWER 7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			OO

3

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			CFIG Holdings, LLC
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			State of Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					SOLE VOTING POWER 0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					SOLE DISPOSITIVE POWER 0
			8	SHARED DISPOSITIVE POWER
					SHARED DISPOSITIVE POWER 7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			OO

4

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			Grosvenor Capital Management Holdings, LLLP
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			State of Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					SOLE VOTING POWER 0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					0
			8	SHARED DISPOSITIVE POWER
					7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			PN

5

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			GCMV, L.L.C.
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			State of Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					SOLE VOTING POWER 0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					0
			8	SHARED DISPOSITIVE POWER
					7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			OO

6

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			GCM Customized Fund Investment Group, L.P.
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			State of Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					SOLE VOTING POWER 0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					0
			8	SHARED DISPOSITIVE POWER
					7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			PN

7

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			GCM, L.L.C.
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			State of Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					SOLE VOTING POWER 0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					0
			8	SHARED DISPOSITIVE POWER
					7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			OO

8

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			Michael J. Sacks
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			United States
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					0
			8	SHARED DISPOSITIVE POWER
					SHARED DISPOSITIVE POWER 7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			IN

9

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			GCM Grosvenor Holdings, LLC
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			State of Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					SOLE VOTING POWER 0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					0
			8	SHARED DISPOSITIVE POWER
					7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			OO

10

CUSIP No. 69290Y109

	1	NAME OF REPORTING PERSON
			GCM Grosvenor Inc.
	2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP				(a) ☐
						(b) ☒
	3	SEC USE ONLY
	4	CITIZENSHIP OR PLACE OF ORGANIZATION
			State of Delaware
NUMBER OF			5	SOLE VOTING POWER
SHARES
BENEFICIALLY					SOLE VOTING POWER 0
OWNED BY			6	SHARED VOTING POWER
EACH
REPORTING					7,802,796 shares
PERSON WITH			7	SOLE DISPOSITIVE POWER
					0
			8	SHARED DISPOSITIVE POWER
					7,802,796 shares
	9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
			7,802,796 shares
	10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES				☐
	11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
			8.48%
	12	TYPE OF REPORTING PERSON
			CO

11

CUSIP No. 69290Y109

Item 1(a). Name of Issuer:

The name of the issuer is PAE Incorporated (the “Issuer”).

Item 1(b). Address of Issuer’s Principal Executive Offices:

The address of the Issuer’s principal executive offices is 7799 Leesburg Pike, Suite 300 North, Falls Church, Virginia 22043.

Item 2(a). Name of Person Filing:

Item 2(b). Address of Principal Business Office or, if None, Residence:

Item 2(c). Citizenship:

This Amendment No. 1 to Schedule 13G is filed by:

1. PVM Pinnacle Holdings, LLC
c/o GCM Grosvenor
900 N. Michigan Avenue, Suite 1100
Chicago, Illinois 60611
Citizenship: State of Delaware

2. GCM CFIG GP, LLC
c/o GCM Grosvenor
900 N. Michigan Avenue, Suite 1100
Chicago, Illinois 60611
Citizenship: State of Delaware

3. CFIG Holdings, LLC
c/o GCM Grosvenor
900 N. Michigan Avenue, Suite 1100
Chicago, Illinois 60611
Citizenship: State of Delaware

4. Grosvenor Capital Management Holdings, LLLP
c/o GCM Grosvenor
900 N. Michigan Avenue, Suite 1100
Chicago, Illinois 60611
Citizenship: State of Delaware

5. GCM Customized Fund Investment Group, L.P.
c/o GCM Grosvenor
900 N. Michigan Avenue, Suite 1100
Chicago, Illinois 60611
Citizenship: State of Delaware

12

CUSIP No. 69290Y109

6. GCM, L.L.C.
c/o GCM Grosvenor
900 N. Michigan Avenue, Suite 1100
Chicago, Illinois 60611
Citizenship: State of Delaware

7. GCM Grosvenor Inc.
c/o GCM Grosvenor
900 N. Michigan Avenue, Suite 1100
Chicago, Illinois 60611
Citizenship: State of Delaware

8. GCM Grosvenor Holdings, LLC
c/o GCM Grosvenor
900 N. Michigan Avenue, Suite 1100
Chicago, Illinois 6061
Citizenship: State of Delaware

9. Michael J. Sacks
c/o GCM Grosvenor
900 N. Michigan Avenue, Suite 1100
Chicago, Illinois 60611
Citizenship: United States

10. GCM V, L.L.C. c/o GCM Grosvenor 900 N. Michigan Avenue, Suite 1100 Chicago, Illinois 60611 Citizenship: United States

The foregoing persons are hereinafter sometimes referred to individually as a “Reporting Person” and collectively as the “Reporting Persons”.

Item 2(d). Title of Class of Securities:

The class of securities to which this Amendment No. 1 to the Schedule 13G relates is the Issuer’s A Class common stock, par value $0.0001 per share (the “Class A Common”).

Item 2(e). CUSIP Number:

The CUSIP number of the Class A Common is 69290Y109.

13

CUSIP No. 69290Y109

Item 3. If this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:

		Not applicable.
a)	¨	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
b)	¨	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
c)	¨	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
d)	¨	Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
e)	¨	An investment advisor in accordance with § 240.13d-1(b)(1)(ii)(E);
f)	¨	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
g)	¨	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
h)	¨	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
i)	¨	A church plan that is excluded from the definition of an investment company under section 3(c) (14) of the Investment Company Act (15 U.S.C. 80a-3);
j)	¨	A non-U.S. Institution in accordance with § 240.13d-1(b)(1)(ii)(J);
k)	¨	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).
If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

Item 4. Ownership.

a) Amount beneficially owned:

As of December 31, 2020, PVM Pinnacle Holdings, LLC, beneficially owned 7,802,796 shares (the “Shares”) of Class A Common. GCM CFIG GP, LLC, as the managing member of PVM Pinnacle Holdings, LLC, may be deemed to have shared voting control and investment discretion over the Shares. CFIG Holdings, LLC, as the sole member of GCM CFIG GP, LLC, may be deemed to have shared voting control and investment discretion over the Shares. Grosvenor Capital Management Holdings, LLLP, as the sole member of CFIG Holdings, LLC, may be deemed to have shared voting control and investment discretion over the Shares. GCM Customized Fund Investment Group, L.P., as manager of PVM Pinnacle Holdings, LLC, may be deemed to have shared voting control and investment discretion over the Shares. GCM, L.L.C., as general partner of GCM Customized Fund Investment Group, L.P., may be deemed to have shared voting control and investment discretion over the Shares. GCM Grosvenor Holdings, LLC, as the managing member of GCM, L.L.C., may be deemed to have shared voting control and investment discretion over the Shares. GCM Grosvenor Inc., as the sole member of GCM Grosvenor Holdings, LLC, may be deemed to have shared voting control and investment discretion over the Shares. GCM V, L.L.C. as a shareholder of GCM Grosvenor Inc. may be deemed to have shared voting control and investment discretion over the Shares. Michael J. Sacks, as managing member of GCM V, L.L.C., may be deemed to have shared voting control and investment discretion over the Shares.

14

CUSIP No. 69290Y109

The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of any Shares owned by another Reporting Person, and the filing of this statement shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities.

b) Percent of class: The percentages used in this Amendment No. 1 to Schedule 13G are calculated based upon 92,040,654 shares of Class A Common outstanding as of October 31, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 5, 2020. Therefore, as of December 31, 2020, each of the Reporting Persons may be deemed to beneficially own 8.48% of the outstanding shares of the Class A Common.

c) Number of shares as to which the person has:

Each of the Reporting Persons may be deemed to have:

1) Sole power to vote or to direct the vote: 0 shares

2) Shared power to vote or to direct the vote: 7,802,796 shares

3) Sole power to dispose or to direct the disposition of: 0 shares

4) Shared power to dispose or to direct the disposition of: 7,802,796 shares

Item 5. Ownership of Five Percent or Less of a Class.

Not applicable.

Item 6. Ownership of More Than Five Percent on Behalf of Another Person.

To the knowledge of each of the undersigned Reporting Persons, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported in this Schedule 13G.

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.

Not applicable.

Item 8. Identification and Classification of Members of the Group.

Not applicable.

Item 9. Notice of Dissolution of Group.

Not applicable.

Item 10. Certifications.

Each Reporting Person hereby makes the following certification:

By signing below each of the Reporting Persons certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

15

CUSIP No. 69290Y109

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: February 16, 2021 

PVM PINNACLE HOLDINGS, LLC
By:	GCM CFIG GP, LLC (its managing member)
By:	CFIG Holdings, LLC (its sole member)
By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery
	Title:	Secretary and Vice President
GCM CFIG GP, LLC
By:	CFIG Holdings, LLC (its sole member)
By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery
	Title:	Secretary and Vice President
CFIG HOLDINGS, LLC			GCM CUSTOMIZED FUND INVESTMENT GROUP, L.P.
			By:	GCM, L.L.C. (its general partner)
By:	/s/ Burke J. Montgomery		By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery		Name:	Burke J. Montgomery
	Title:	Secretary and Vice President		Title:	General Counsel
GROSVENOR CAPITAL MANAGEMENT HOLDINGS, LLLP			GCM, L.L.C.
By:	/s/ Burke J. Montgomery		By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery		Name:	Burke J. Montgomery
	Title:	General Counsel		Title:	Vice President & Secretary
/s/ Michael J. Sacks
Michael J. Sacks
GCM GROSVENOR HOLDINGS, LLC			GCM Grosvenor Inc.
By:	/s/ Burke J. Montgomery		By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery		Name:	Burke J. Montgomery
	Title:	Vice President & Secretary		Title:	Vice President & Secretary
GCM V, L.L.C.
By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery
	Title:	Vice President & Secretary

16

EX-99.1

Exhibit 99.1

Joint Filing Agreement

In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, each of the undersigned hereby agrees to the joint filing, along with the other such undersigneds, on behalf of the Reporting Persons (as defined in the joint filing), of a statement on Amendment No.1 to Schedule 13G (including amendments thereto) with respect to the Class A Common Stock of PAE Incorporated and that this agreement be included as an Exhibit to such joint filing. This agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. The undersigned acknowledge that each shall be responsible for the timely filing of any amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others.

[Signature Page Follows]

IN WITNESS WHEREOF, each of the undersigned hereby executes this agreement as of this 16th day of February, 2021.

PVM PINNACLE HOLDINGS, LLC			GCM V, L.L.C.
By:	GCM CFIG GP, LLC (its managing member)
By:	CFIG Holdings, LLC (its sole member)
By:	/s/ Burke J. Montgomery		By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery		Name:	Burke J. Montgomery
	Title:	Secretary and Vice President		Title:	Secretary and Vice President
GCM CFIG GP, LLC
By:	CFIG Holdings, LLC (its sole member)
By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery
	Title:	Secretary and Vice President
CFIG HOLDINGS, LLC			GCM CUSTOMIZED FUND INVESTMENT GROUP, L.P.
			By:	GCM, L.L.C. (its general partner)
By:	/s/ Burke J. Montgomery		By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery		Name:	Burke J. Montgomery
	Title:	Secretary and Vice President		Title:	General Counsel
GROSVENOR CAPITAL MANAGEMENT HOLDINGS, LLLP			GCM, L.L.C.
By:	/s/ Burke J. Montgomery		By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery		Name:	Burke J. Montgomery
	Title:	General Counsel		Title:	Vice President & Secretary
/s/ Michael J. Sacks
Michael J. Sacks
GCM GROSVENOR HOLDINGS, LLC			GCM Grosvenor Inc.
By:	/s/ Burke J. Montgomery		By:	/s/ Burke J. Montgomery
	Name:	Burke J. Montgomery		Name:	Burke J. Montgomery
	Title:	Vice President & Secretary		Title:	Vice President & Secretary