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GC Opal Advisors

SEC-registered adviser since 2017Chicago, ILCRD 289425

$124.3B
AUM
87
Clients
See fees
Fee
306
Advisory staff

From Form ADV filed 28 August 2026 · data retrieved 15 October 2026SEC record

GC Opal Advisors is an investment adviser headquartered in Chicago, Illinois, and registered with the SEC since 2017. Its clients include pooled investment vehicles, other investment advisers and state or municipal government entities.

Its services include portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. Fee arrangements include a percentage of assets under management, performance-based fees and other arrangements. GCDM Midco Holdings, LP owns 75% or more of GC Opal Advisors, and Lawrence Golub is its CEO.

Clients

GC Opal Advisors serves 87 clients, 85 of them pooled investment vehicles. The average client has about $1.43 billion with the firm.

Regulatory assets by client type
  • Pooled investment vehicles85 clients99%
  • OtherState or municipal government entities, Other investment advisers1%
Show client breakdown
Pooled investment vehicles
Clients
85
Regulatory AUM
$123,531,567,099
Share
99.4%
Avg. per client
$1.45B
State or municipal government entities
Clients
1
Regulatory AUM
$272,717,479
Share
0.2%
Avg. per client
$272.7M
Other investment advisers
Clients
1
Regulatory AUM
$500,000,000
Share
0.4%
Avg. per client
$500.0M

Total

Clients
87
Regulatory AUM
$124,304,284,578
Share
100%
Avg. per client
$1.43B

What it does

GC Opal Advisors provides portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. It is paid through a percentage of assets, performance-based fees and other arrangements.

GC Opal Advisors advises 92 private funds.

100.0% of assets ($124.30B across 87 accounts) are managed with discretion. 68% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Cash5%
  • Other95%
    • Middle market and broadly syndicated loans95%

Custodians

GC Opal Advisors’ client accounts are held mainly at Northern Trust, with 0% of managed assets, and Wells Fargo Bank, National Association, with 0%. GC Opal Advisors has custody of client assets.

Managed account assets by custodian
  • OtherNorthern Trust, Wells Fargo Bank, National Association, All other custodians100%

Ownership and leadership

GCDM Midco Holdings, LP owns 75% or more of GC Opal Advisors, and Lawrence Golub is its CEO.

Who owns the firm
GC Opal Advisors LLC· the adviser

  • GCDM Midco Holdings, LP

    Control person · since January 2022

    Owns 75% or more of GC Opal Advisors LLC

Leadership

  • Lawrence Golub
    Chairman, Co-Chief Executive Officer, Co-General Counsel
  • David Golub
    Co-Chief Executive Officer
  • Spyro Alexopoulos
    Co-President
  • Gerald Keefe
    Co-President
  • Laurence Stein
    Co-President
  • John Keleghan
    Chief Financial Officer
  • Pierre-Olivier Lamoureux
    Chief Financial Officer
  • Rebecca Trayber
    Co-Chief Compliance Officer
  • Joshua Levinson
    Vice Chair, Chief Legal Officer
  • Francis Straub III
    Chief Administrative Officer

Staff

  • 1,087 employees
  • 306 in advisory functions
  • 23 broker-dealer reps

Fees

GC Opal Advisors is paid through a percentage of assets under management, performance-based fees and other.

GC Opal Advisors’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, GC Opal Advisors has 10 offices, with 9 listed addresses across 8 states.

Listed office addresses by state

Illinois · 2 listed addresses

  • 150 South Wacker Drive, Suite 800, ChicagoHQ
  • 100 South Wacker Drive, Chicago

Other business names

GC Opal Advisors has reported 3 other business names to the SEC.

  • GC Investment Management LLC, Relying Adviser
  • Golub Capital Liquid Credit Advisors, LLC (management Series), Relying Advisor
  • Opal BSL LLC (management Series), Relying Adviser

Registration details

Legal name
GC Opal Advisors LLC
Headquarters
150 South Wacker Drive, Suite 800, Chicago, IL 60606
Phone
312-205-5050
Website
Not reported
SEC file
801-111632
Structure
Delaware LLC
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does GC Opal Advisors have?

GC Opal Advisors has 87 clients and manages $124.3 billion for them, as of August 2026. They include 85 pooled investment vehicles, 1 state or municipal government entities and 1 other investment advisers.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 August 2026

What services does GC Opal Advisors offer?

GC Opal Advisors provides portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does GC Opal Advisors use?

GC Opal Advisors’ separately managed account assets are held at Northern Trust Company (Chicago, IL), with $500,000,000 and Wells Fargo Bank, National Association (Columbia, MD), with $272,717,479. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 28 August 2026

How many financial advisors does GC Opal Advisors have?

GC Opal Advisors has 0 investment adviser representatives registered with state securities authorities, out of 1,087 employees, and 306 perform investment advisory functions. 23 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does GC Opal Advisors invest in?

At the end of its last fiscal year, GC Opal Advisors’ separately managed accounts held 95% middle market and broadly syndicated loans and 5% cash and equivalents. It advises 92 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns GC Opal Advisors?

GC Opal Advisors’ direct owner is GCDM Midco Holdings, LP (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 28 August 2026

How does GC Opal Advisors get paid?

GC Opal Advisors is paid through a percentage of assets under management, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 28 August 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 289425.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with GC Opal Advisors LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.