Transaction will expand Forbes Family Trust’s footprint in U.S. market through established presences in New York, Philadelphia and Palm Beach, Fla.
"We are now fully equipped to strengthen our overall platform and provide best-in-class, customized strategies to our Advisors, their clients, and businesses.”
Through this agreement, Glenmede and Stonehage Fleming, the third- and second-largest independent multi-family offices in the world1, will expand their respective client offerings and geographical capabilities.
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.