Family Offices
Privately held company that manages wealth on behalf of Ultra High Net Worth Individuals.
Often comprised of investment professionals and family members who make investment decisions.
Major Considerations
-
Can be open to smaller and niche fund managers
-
Can provide patient long-term capital
-
Highly fragmented investor base
-
Can be opportunistic and quick to move
-
Patient long-term capital
-
Often like co-investments, especially in industries of their expertise
Typical Allocation
Alternative assets make up around 25% of the asset allocation of family offices.
Among the alternatives:
30% in Real Estate
25% in Private Equity Direct
22% in Hedge Funds
19% in Private Equity Funds
FAMILY OFFICES SLASH ALLOCATION TO ALTERNATIVES; Chief Investment Officer
Largest Family Offices
-
Bessemer Trust (Multi Family Office), New York; AUM – 110Bn
-
Acropolis Capital Partners (Single Family Office), UK; AUM – 107Bn
-
Point72 (Multi Family Office), Connecticut; AUM – 75Bn
-
UBS Global Family Office (Multi Family Office), Switzerland; AUM – 67Bn
-
Stonehage Fleming Family and Partners (Multi Family Office), UK; AUM – 56Bn
-
Cascade Investment (Single Family Office), Washington; AUM – 44Bn
-
Pontegadea Inversiones (Single Family Office), Spain; AUM – 36Bn
-
Hawthorn PNC Family Wealth (Multi Family Office), Pennsylvania; AUM – 35Bn
-
Iconiq Capital (Multi Family Office), California; AUM – 33Bn
-
Soros Fund Management (Single Family Office), New York; AUM – 30Bn
PreQin 2020
Articles of Interest
WILL CORONAVIRUS CRISIS MAKE OR BREAK IMPACT INVESTING; CampdenFb
HOW ARE FAMILY OFFICES RESTRUCTURING THEIR PORTFOLIO; Entrepreneur
HOW FAMILY OFFICE’S NEXT GEN ARE MANAGING THE CRISIS; CityWire