An academic paper on the significance of real estate in family office portfolios.

How many layers of separation do family offices tolerate?

An example of early succession planning at Swiss family office.

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Don’t let the term ‘family office’ fool you. A sharp warning that the “family office” label can be weaponized to make scams look respectable, for example, the SEC Ponzi case tied to 600+ investors and $56 million - Opalesque

Family offices take on more risk in alternatives. 75% of family offices are expecting to take more investment risk over the next year. Greater transparency for riskier asset classes is the main reason for the big push - Family Wealth Report

Ken Griffin’s billions and billions. A fascinating profile on the life and career of the billionaire hedge-fund titan, an unabashed big spender with a personal portfolio of at least eleven properties that are collectively worth $1.5 billion - The New Yorker

Hong Kong banks urged to deepen family office offering. Banks are being told to move beyond basic wealth management as a new wave of Asian family offices emerges. Founder-led wealth is heading to its first handover and banks need to be proper strategic partners, not just product pushers - Asian Banking & Finance

Architecting the future. Family offices are being reshaped by geopolitics, AI, direct investing and succession, with 70% already active in direct deals. The family office is becoming less a ‘wealth wrapper’ and more an operating platform - Citi

Azura Partners wants to be ‘the Ferrari of wealth management’. The $5 billion wealth manager is aiming to echo leading luxury brands such as Ferrari and Hermès by providing bespoke, personalised service of the highest quality while increasing in scale, but only up to a point - Spear’s

Luxury hotel brands are betting big on cruises. An entirely new class of yachts helmed by hotel groups is redefining what it means to travel at sea. Rather than focused on scale, they’re prioritizing customization through immersive, tailored experiences and high-touch service - Food & Wine

ICYMI: last week’s newsletter outlined why franchises are such hidden gems for family offices.

And look out for our next Living Large edition coming this week.

Until then, see you on 𝕏, reddit or LinkedIn.

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