Family Office
NEWS
Milken Family Office Alumni Raise Record Credit Fund
Silver Rock Capital Partners has successfully raised its largest credit fund to date, securing over $4 billion to lend to large, financially distressed companies.
Silver Rock Capital Partners has successfully raised its largest credit fund to date, securing over $4 billion to lend to large, financially distressed companies.
Family offices stepped up borrowing against their private equity investments in the first quarter, moves made to increase their cash in the coronavirus crisis, according to UBS Group.
The purpose of a family office is to organize and centralize the management of a family’s personal and business financial affairs, and to maintain the financial house in as good an order as that of a well-run public company. The origin of the family office concept came from extremely wealthy families, and the family office was often a separate entity, with employees ranging from a CEO or CFO to a chief investment officer, along with a staff of bookkeepers and personal assistants.
Family offices increasingly have to navigate the complexities of cross-border legal issues: a necessary side-effect of globalisation. The family office will consequently need advisers on issues such as tax, estate planning and regulation that covers all countries in the mix, and advice on succession planning is increasingly featuring high up on the family office to-do list.
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