Family offices hiring more investment chiefs, tapping private equity - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 57 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

How secretive family offices are snapping up talent from the world of private markets and becoming bigger investing powerhouses

Fidelity conducted last year of 111 US-based family offices, the average respondent's net worth was $1.6 billion.Family offices oversee trillions in wealth and are highly secretive. But that's changing as they chase direct deals — and company execs want to know who's behind the money.

Derek Braddock, co-founder of New York- and Boston-based asset management-focused executive search firm BraddockMatthews said a number of searches his firm has conducted in recent years have been for families' first ever chief investment officer."A lot of family offices of great wealth have concluded, really regardless of their asset size, that they want to bring capabilities in-house rather than outsourcing," he said.

"I think those folks are not only allocators, but they can invest opportunistically," Braddock said in a recent phone interview. Uber-rich investors hungry for growth have turned their sights on the private market. Here's how wealth firms like Citi and UBS are transforming their businesses to meet those client demands.

"This trend runs hand-in-hand with family offices, particularly single-family offices, opting to participate directly in private equity transactions as opposed to investing in PE funds," Caulfield said in an email, adding that trend is more significant for family offices based in North America and Asia than for those based in Europe.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside TikTok star photographer Illumitati's business and portraits - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Go millennials!
Source: BusinessInsider - 🏆 729. / 51 Read more »

McDonald's hires new chief diversity officer, facing lawsuits - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. good luck best junk food around the world, even though their business isn't burgers Apart from that industries manipulation of Black with BAME, and the antisemitism included in its origins it is now IMO corrupt. Targets of diversity supremacism culture should take a court case? Yale Students Berating Professor Highlights via YouTube
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside TikTok star photographer Illumitati's business and portraits - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Go millennials!
Source: BusinessInsider - 🏆 729. / 51 Read more »

US bank satisfaction ratings hit record high among small businesses - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Well, how racist can you be? wow
Source: BusinessInsider - 🏆 729. / 51 Read more »