Based on an admittedly limited but probably quite representative poll of 75 family offices worldwide, the report predicts a 73% rise in allocation to private equity by family offices from 2017 to 2019, or US$51 million to $88 million per family office.
Almost half of fund managers anticipate less capital flowing to pooled funds, while more than a third of both fund managers and investors expect to see more capital being invested through co-investments.
In the past, getting access to early rounds of technology stock, which can generate triple digit returns, has been notoriously difficult for private investors.
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Among the next generation of family members, three in 10 (29%) family offices now held management or executive roles, while 23% sit on the board.
The initial premise of his question was, "Do you think families will embrace this opportunity?" I told him that yes, I do.
The research says: “Families are becoming more resistant to wealth advice and is essential to think about what is right for each family as each family is different, and then structure service requirements appropriately.”
Hong Kong is aiming to attract more family offices, which have been identified as a key growth engine for the industry, and its recommended changes follow in the footsteps of rival financial hub Singapore.