To address the flourishing wealth sector in the region, the international multi-family office, Mcfaddens & Co, has teamed up with CIIC (China Industry and Commerce) in a joint venture to launch a multi-office family network in Hong Kong and China.
Cerestra Advisors, an Indian private equity firm, and KPFO Ventures have joined together for a co-owned property technology platform, where investors can co-own assets.
The two have named the platform Winvest and will be live next month with an asset portfolio of up to $100,000 million. Seed investment in the platform will be made by KPFO Ventures, and Cerestra will identify assets, manage assets and investors, and close deals.
Although family offices have been around since the 1800s, they’ve only begun to flourish in recent years.
Family offices tend to target individuals with more than $1bn assets, while multi-family targets those with more than $20bn. This means there are plenty of people that require a helping hand with their family resources. That’s where Harness Wealth’s initiative comes in.
In hopes to attract business in the special administration of family offices, Invest HK (Invest Hong Kong) started up an independent office. FamilyOffice HK is to be set up in Admiralty, the central business district in Hong Kong, where it can efficiently serve its clients.
Having the correct information and advice regarding investments is crucial for professionals in a family office. However, every family office is unique, and if one fails to follow through with a trust deed or other mandates, they will be accountable to the family.
Here are some things that family offices need to consider when it comes to investing in a post-covid-19 world.
The time has come for family offices to restructure their investment staff to meet their goals. Private equity talent is being greatly sought by these offices in return for managing their portfolios and a better equilibrium of work-life.
The recent wave of mergers and acquisitions within the multi-family office field led to an opinion that the industry will soon divide into a few wealth management giants and numerous small advisories.
According to multiple reports, family offices are taking a more hands-on approach during the pandemic times by directly investing in companies that seek capital.
According to a recent global report, family offices are actively funding innovative businesses. As a result, there is a visible boost in the venture capital segment and good returns for the FOs.
Succession planning is a valid concern for all affluent families across the map. However, due to various geographical and cultural factors, the Middle Eastern family businesses need to approach the issue slightly differently.