Family Office Insider (FOI) | December 2023
News, Research, Publications, Events, Jobs Board | Family Office Industry Newsletter
Hello, and welcome to this edition of Family Office Insider (FOI) from GPFO. In the Industry Newsletter each month we share the latest news and developments from the global family office ecosystem.
Sections:
News: 📰 Headlines, 💼 Careers Moves, 🤝 Private Markets Activity
📅 Events
👥 Jobs Board
📑 Research & Reports
This is our last Industry newsletter of the year. We will be doing a special edition end-of-year wrap-up for members and premium subscribers at the end of the month.
📑 Research & Reports.
Our Family Office Reports Database is now part of the GPFO Members Portal. 250+ 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.
📢 Survey | The Family Office Private Markets Benchmark Survey 2023 - GPFO [Contribute]
Research | Billionaires Ambitions Report 2023 - UBS
Research | 2023 Q3 Capital Flows & Insights - Family Office Investment Report - Citi
Report | Family Office Technology - Ferrari Vs Utility | Key Considerations for Asian Family Offices - Hall Road & Berkshire Global Advisors
Whitepaper | Legal Considerations for UAE family Offices. Galadari Advocates & Legal Consultants
Academic Research | Capital structure of single family office-owned firms - Journal of Family Business Strategy, J. Bloc, R. Fathollahi, O. Eroglu.
Research | North America Family Office Report 2023 - RBC (Royal Bank of Canada) & Campden
Report | Four Pillars of Capital 2023 - Managing Risks in an Age of Upheaval - Stonehage Fleming
Report | The Global Entrepreneurial Wealth Report - HSBC
Report | Venture Capital Benchmarking Report 2023 - Revere
Report | Independent Review of University Spin-out Companies - UK Government
Report | US | Q3 VC Valuations Report - Pitchbook
Report | Women in UK Venture Capital - Ada Ventures
Data | Where do Unicorns come from? Endeavour
News.
📰 Headlines
Investor Charlie Munger passed away age 99.
Obituaries: FT, Time Magazine, Reuters, NYT.
The global race to attract family offices. Spears
Singapore family office applicants face 18 month wait amid tighter scrutiny. FT
ZEDRA plans to acquire LJ Fiduciary and Alvarium Private Office. News Release
A chasm between generations persists at family offices. Institutional Investor
Most family business leaders accelerating succession plans amid mounting pressures. KPMG Canada
New California law requires diversity reporting for venture capital and private equity firms. Reuters
However, given the broad scope of the New Diversity Reporting Law, it also applies to investment vehicles that are not traditionally thought of as venture capital companies, including private equity funds, co-investment vehicles, family offices, trusts, etc., in certain circumstances.
Inside Ranjan Pai’s plan for his family office. Economic Times
M&A battle fuels $500m family office Europe deal spree from Brian Souter. BNN Bloomberg
Jim Chanos is converting hedgefund, Chanos & Co, to family office. CNBC
Saudi family offices tap UK logistics potential. Wealth Briefing
Jeff Zucker eyes puch into US for Daily Telegraph bid. Variety
Jan Koum’s family office, Newlands, is quietly building its startup portfolio, led by Michael Abramson ex Sequoia partner. Forbes
Kellnerova family office consolidates corporate structure under AMALAR Holding. Bloomberg
Lidl owner co-leads $500m deal to fuel German AI start-up. FT
Raising Kane founder, Todd Graves, turns chicken fingers to $7.6bn fortune. Bloomberg
Struengmann brothers are selling part of their BioNTech stake. Bloomberg
Hungarian law firm hails family office launch. WealthBriefing
Sherly Sandberg and husband Tom Bernthal establish family office, Sandberg Bernthal Venture Partners. Information
Blackbird Labs accelerator launches with $100m grant from The Stephen and Renee Bisciotti Foundation. Yahoo Finance
Long Read: Good Intentions, Perverse Outcomes: The Impact of Impact Investing! Musing on Markets
Comment: Amid global social change, is now the time for family offices to amplify their ROI? The Peak Magazine
Interview: Singapore-based Xin Family (single family office) discuss their frontier tech investing approach. AsianInvestor
💼 Career Moves
COFRA Holdings promotes Jheroen Muste to Executive Chair, Clean Energy from Chief Strategy Officer.
Nan Fung (MFO) bolsters team with four hires; Janet Hung, Wendy Wen, Coco Zhang and Sylvia Yin.
Mukul Mohanty joins Pall Mall family office as an Advisory Board Member.
Investcorp-Tages hires Global Macro Team led by Adrian Owens, and joined by Rahul Mathur and Scott Watson.
Sheryl Needham joins Juniper Place advisory council, previously Head of Family Offices at Blackrock.
Kathleen Gibson joins Dallas family office, Crow Holding from UT Southwestern Medical Center’s foundation.
Geneva-based Bedrock Group (MFO) appoint two new partners; Carlota van de Koppel and Raquel Santos Silva.
🤝 Private Markets Activity
EVOLEM participated in a $1.6M Seed funding round for 50inTech, and a $2M seed round for Jimini AI
Capricorn Investment Group participated in an $99M Series C investment in Seurat Technologies.
MSD Capital and New Legacy Group, LLC have participated in a $41M Series A funding round for Samara.
Sparta Group LLC and Catamaran Ventures participated in a $54M Venture investment in Aequs.
Breyer Capital participated in a $14M Series A funding round for Superstate.
Salvia Family Office participated in a $6M Seed round in InPlanet.
📅 Events.
What's on in December: (register or request an invitation)
International Investment Afternoon | London
Christmas Drinks | London
👥 Jobs Board.
Full Jobs Board accessible via the industry or members portals. Currently 54 actively recruiting roles within single family offices and private multi family offices around the globe.
32 new roles listed this month, 12 closed to new applications.
Reporting & Consolidation Manager - Single Family Office - Luxembourg
Investment Manager (Buyout & Growth) - Single Family Office - Zurich, Switzerland
CIO - Single Family Office - London, UK
Investment Strategist - Single Family Office - London, UK
Director of Investments - Single Family Office - Sharajah, UAE
Senior Director, Accounting - The Friedkin Group (Single Family Office) - Texas, USA
Investment Principal - Single Family Office - Denver, USA
General Counsel - Single Family Office - New York, USA
Director of ESG Investment - Single Family Office - Hong Kong
Senior Investment Analyst - Single Family Office - Singapore
Property Manager - Single Family Office - Muscat, Oman