During 2009, Greenhill announced its separation from its historical merchant banking business in order to focus entirely on the client advisory business. Specifically, the Firm sold to the senior members of the existing investment team, the right to launch successor funds to its three current merchant banking funds.

The existing funds will continue to be managed by the current investment team, which will remain Greenhill employees until transitioned to a new, independent entity, which will be known as GCP Capital Partners ("GCP"). Greenhill will retain its portfolio of principal investments and seek to realize the value thereof over time.

About GCP

GCP, the independent successor to Greenhill's merchant banking business, currently manages private equity funds which have raised $1.7 billion in capital since 2000.  Approximately 25% of the capital has come from Greenhill & Co and its employees.  The U.S. private equity funds have made significant investments in the energy, financial services, insurance, telecommunications, for-profit education and business services industries.  GCP generally makes controlling or influential minority investments of $10 million to $75 million in companies with enterprise values of $50 million to $500 million.

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