Rockefeller Capital Management — the modern successor to John D. Rockefeller’s historic family office — has attracted fresh investment from some of the world’s wealthiest families, according to CNBC.
The firm, led by CEO Greg Fleming, will announce a new financing round valuing it at $6.6 billion, more than double its 2023 valuation of $3 billion. The recapitalisation, the terms of which remain undisclosed, is designed to support expansion and strengthen the company’s balance sheet.
The funding round was led by Mousse Partners, the family office of Chanel owners Alain and Gérard Wertheimer, along with Progeny 3, built on a shipping fortune in Washington state, and Abrams Capital, founded by hedge fund manager David Abrams. Viking Global Investors — Rockefeller’s original backer — will no longer hold a majority stake but will remain its largest shareholder.
Since its formation in 2018 with $18 billion in assets, Rockefeller Capital has expanded to $187 billion under management, primarily through its global family office division. The Rockefeller family continues to hold a minority stake.
Fleming said the new investors mirror the entrepreneurial, high-net-worth clients the firm serves — typically those with $25–$100 million in assets. The additional capital will fund growth across U.S. hubs such as Boston, Houston, Miami, and Minneapolis, and enable international partnerships in regions like Singapore and the Middle East.
“Our new families that are investing here have created wealth through building businesses,” Fleming noted, citing the millions of new ventures launched annually in the U.S. He added that family offices make ideal long-term partners because they invest with generational patience.
Mousse Partners’ move into Rockefeller builds on its track record of high-end investments, including Beautycounter (now Counter) and The Row, and previous deals alongside Rothschild & Co., Peugeot, and Dassault families.
Fleming believes the wealth management industry remains a durable growth sector, especially as $124 trillion is expected to transfer between generations by 2048 (Cerulli Associates). The firm’s expansion strategy includes providing an increasingly broad suite of services — from direct investment and philanthropic guidance to tech-driven client platforms.
“In 2025, this business demands heavy investment to meet the expectations of sophisticated families,” Fleming said. “If you focus on the client and do it well, you can grow from there — it’s hard work, but it’s worth it.”
