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
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Can be open to smaller and niche fund managers
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Can provide patient long-term capital
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Highly fragmented investor base
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Can be opportunistic and quick to move
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Patient long-term capital
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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
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Largest Family Offices
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Bessemer Trust (Multi Family Office), New York; AUM – 110Bn
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Acropolis Capital Partners (Single Family Office), UK; AUM – 107Bn
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Point72 (Multi Family Office), Connecticut; AUM – 75Bn
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UBS Global Family Office (Multi Family Office), Switzerland; AUM – 67Bn
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Stonehage Fleming Family and Partners (Multi Family Office), UK; AUM – 56Bn
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Cascade Investment (Single Family Office), Washington; AUM – 44Bn
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Pontegadea Inversiones (Single Family Office), Spain; AUM – 36Bn
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Hawthorn PNC Family Wealth (Multi Family Office), Pennsylvania; AUM – 35Bn
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Iconiq Capital (Multi Family Office), California; AUM – 33Bn
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Soros Fund Management (Single Family Office), New York; AUM – 30Bn
PreQin 2020
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Articles of Interest
WILL CORONAVIRUS CRISIS MAKE OR BREAK IMPACT INVESTING; CampdenFb
HOW ARE FAMILY OFFICES RESTRUCTURING THEIR PORTFOLIO; Entrepreneur
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HOW FAMILY OFFICE’S NEXT GEN ARE MANAGING THE CRISIS; CityWire