Family Office Insider (FOI) | April 2024
News, Research, Publications, Events, Jobs Board | Family Office Industry Newsletter
Hello, and welcome to the fourth edition of 2024 of Family Office Insider (FOI) from GPFO. In the Industry Newsletter each month we share the latest news and developments from the family office ecosystem.
Sections:
News: 📰 Headlines, 💼 Careers Moves, 🤝 Private Markets Activity
📅 Events
👥 Jobs Board
📑 Research & Reports
📑 Research & Reports.
Our Family Office Reports Database is now part of the GPFO Members Portal. 300+ reports and research on the family office and global wealth community since 1997, updated by the team each month. Book a demo of the platform today.
Research | UBS Global Investment Returns Yearbook 2024. UBS.
Research | The Wealth Report 2024. Knight Frank.
Research | 2024 Family Office Operational Excellence Report. RSM.
Index | Residence Program Index. Henley & Partners.
Index | Citizenship Program Index. Henley & Partners.
Report | USA Wealth Report. Henley & Partners.
Report | Global Private Equity Report 2024. Bain & Co.
Research | Market Study on the Family Office Landscape in Hong Kong. Deloitte.
Outlook | 2024 Market Overview. Hamilton Lane.
Outlook | The State of Private Market ESG and Impact Investing in 2024. Pitchbook.
White Paper | Winning with GenAI in wealth and asset management. EY
News.
📰 Headlines
Wyden exposes private placement life insurance as a tax shelter for the ultra wealthy holding at least $40bn. US Senate Committee
Duty-Free Billionaires Family Office Shuts Investment Team. Bloomberg
Family office investment into famed national rugby side, as sports teams continue to cosy up to private investments group. Family Capital
Number of Family Offices triples in four years. Spears WM
Dubai royal nephew opens new $500m family office in Hong Kong. Bloomberg
Cash-rich family offices “on the acquisition trail”. Funds Europe
Barry Sternlicht is doing a SPAC deal with himself. Forbes
Joe Lewis places 34 year old atop besieged empire. Bloomberg
Steve Cohen’s Point72 shuts to new cash, with assets at $32bn. Bloomberg
Tony James’ family office spins out private equity team to form Madison River Capital, to raise external capital. Mergers & Acquisitions
One of Brazil’s largest single family offices boosts assets to $11bn. Bloomberg
Hermes faces class action suit over Birkin sales practices. The Business of Fashion
Bahrain sovereign wealth buys out McLaren. motorsports.com
The search for the best private bank reveals some big surprises. Finews
Podcast of the Month: Investing in US Financial History [Library of Mistakes] Russell Napier and Mark J Higgins explore some of the lessons to be learned from Mark's latest book, Investing in US Financial History: Understanding the Past to Forecast the Future.
💼 Career Moves
Zug-based family office GVO Asset Management has appointed Lucia Waldner as managing director. Waldner will take up the management position at the beginning of June 2024 after an 18-year term in office from Michael Küssner.
President of Open Society Foundations Mark Malloch-Brown steps down and will be replaced by Binaifer Nowrojee.
Josh Levy takes Co-CEO role alongside Nick Beucher at Tavistock Group.
Ravi Manchanda takes role as Head of Principal Investments at Quatari single family office.
Richard Weintraub joins Citi from UBS to head US family office division.
HSBC Private Bank appoint Maria Gardner as Head of Family Office in Jersey.
Kevin Moran is promoted to President at AlTi.
🤝 Private Markets Activity
Colt Ventures participated in a $100M Series B funding round in BlossomHill Therapeutics.
Euclidean Capital participated in a $82M Series A funding round in Kenai Therapeutics.
Highsage Group participated in a $34M Series B funding round in TheyDo.
Aglae Ventures participated in a $27M Seed funding round in Borderless AI.
North Island LLC participated in a $27M Series A funding round in ether.fi.
Otium Capital participated in a $19M Venture funding round in E-Peas.
Pritzker Group participated in a $18M Series A funding round in Fuel Me.
Fort Knox Forvaring participated in a $7.2M Seed funding round in Arevo.
👥 Jobs Board.
Full Jobs Board accessible via the industry or members portals. Currently 35 actively recruiting roles within single family offices and private multi family offices around the globe.
13 new roles listed this month, 22 closed to new applications.
Investment Director - Single Family Office - Hong Kong
Senior Investment Manager - Private Equity - Single Family Office - London, UK
Portfolio Manager - Single Family Office - Singapore
Director - Investments - Single Family Office - Pennsylvania, USA
Investment Principal - Single Family Office - Colorado, USA
📅 Events.
April Dates: (register or request an invitation)
The Future of Private Banking - 10th April - London, UK
Private Briefing | Precious Metals in the Family Office Portfolio - 10th April - Zurich, Switzerland
Private Briefing | Dislocated & Distressed Credit Markets - 18th April - Zurich, Switzerland
St. George’s Day Investment Club - 25th April - London & Online