Family Office Insider (FOI) | September 2024

News, Research, Publications, Events, Jobs Board | Family Office Industry Newsletter

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Sep 01, 2024

Hello, and welcome to the 9th 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:
📊 Chart of the Month
📑 Research & Reports
News: 📰 Headlines, 💼 Careers Moves, 🤝 Private Markets Activity
👥 Jobs Board
📅 Events

Announcement: We appointed 3 new advisory board members last month to support our international growth.

📊 Chart of the Month

Powered by the GPFO Research & Reports Database

The top wealth ($30m+) band reported in the Wealth X / Altrata Global Wealth Reports (2022-2024) has grown total wealth the most of the three wealth bands from $41,824bn to $49,159bn - 8%+ growth year on year.

📑 Research & Reports.

The latest reports, research and whitepapers on family offices, global wealth and select interest areas. Powered by the GPFO Research & Reports Database.

Research | 2024 global Family Office report, Ocorian
Research | Q2 2024 Family Office Investment Report, Citi
Research | Understanding the Climate Finance Gap, CREO
Report | VC Fund Performance 2024, Carta
Report | Global Secondary Market Review | 1H 2024, Greenhill
Whitepaper | Advancing the Endowment Model, Partners Capital

View all…

News.

📰 Headlines

Matt Levine on ‘expensive family offices’ in his flagship opinion column. Bloomberg
Temu founder, Colin Huang, becomes China’s richest person. Bloomberg
Bill Ackman’s $25bn IPO plan crumbled by investor doubts. Axios
Jared Birchall and Elon Musk’s working relationship under scrutiny in court documents. Business Insider
BNP in talks to acquire Axa Investment Managers in EUR 5.1bn deal. Reuters
UK’s richest face prospect of sharp Labour tax hikes on wealth. Bloomberg
A ranch bigger than Houston is hitting the market for $142m, following Donald Horton’s death. Quartz
HSBC’s play for Middle East wealth marred by exits and regulatory curbs. Bloomberg
Banque Haviland shuts Swiss unit. Private Banker International
IEQ acquires EPIQ to creat $32bn MFO. InvestmentNews

🏕️ Family Offices

Letter: A wealth of evidence that family offices existed in antiquity. FT
Hargreaves Landsdown co-founder, Stephen Lansdown scores ‘Bittersweet’ $309m. Bloomberg
Gautam Adani to revamp family office, hire auditors and CEO to boost oversight. The Economic Times
Is the rise of the single family office a good thing for our business (perspectives from an MFO). Stonehage Fleming
Mark Bezos raises $100m venture fund. Bloomberg
Steve Schwarzman runs into newt headache at UK estate. FT
The secret life of Canadian oil tycoon Scott Saxberg. Montreal Gazette
Carl Icahn to pay $2m to settle SEC Charges relating to personal collateral loans. The New York Times
Why HNWI families should think twice before relocating. Spears

✨ Impact & Philanthropy

Exploring donor advised funds (DAFs) and private foundation. Family Wealth Report
Climate capital needs to seek growth equity funds, finds report. New Private Markets

💼 Career Moves

Mark Baumgartner departs as Dalio family office CIO after less than a year.
Pictets sustainability chief Rosa Sangiorgio leaves to focus on advising family offices and start-ups.
Simon Cheung joins Neurberger Breman in Hong Kong from UBS to sharpen focus on single family offices.
Lee Herzog joins Ivan Toledos family office, Raiz Investimentos, from Randy Lener’s family office, Brooklyn NY Holdings.
Jane Simpson is promoted to lead Dyson family office, Weybourne.
Arie Ben-Dor joins P. Eduard Holdings of Belgium.

🤝 Private Markets

Have the insatiable private markets eaten the small cap effect? LinkedIn
Start-up failures rise 60% as founders face hangover from boom years. FT
More than 90% of 2021 Venture Funds have had zero distributions thus far. WSJ
Joby Pritzker’s family office, Tao Capital Partners participated in a $60M Series B funding round for Quantum Circuits.
Briscoe & Carpenter's family office, Miramir Holdings participated in a $20M funding round in ITpipes.
Henry R. Kravis' family office, Stonecroft Management LLC participated in $31M funding round for Setpoint.io.
Peter Thiel's family office participated in $27M funding round in wealthtech platform Syfe.

👥 Jobs Board.

Full Jobs Board accessible via the industry or members portals. Currently 43 actively recruiting roles within single family offices and private multi family offices around the globe.
18 new roles listed this month, 15 closed to new applications.

Head of Family Office - Single Family Office - Hong Kong
Chief Investment Officer - Single Family Office - Singapore
PE Investment Director - Single Family Office - Hong Kong
Senior Associate - Single Family Office - New York, USA
Investment Director - Single Family Office - Boston, USA
Director of Administration - Single Family Office - Cleveland, USA
Operating Partner (Private Equity) - Single Family Office - Riyadh, Saudi Arabia
Family Office Manager - Single Family Office - London, UK