A weekly collection of news and highlights. Included this week:
Family office Q2 boosting public equities
Vanguard acquires wealthtech platform for $4B
Africa’s richest man sets up Dubai family office
A practical guide to implementing your IPS
New KPMG US family business report
Living Large: Inside Monaco’s new Mareterra development, home to a $550M penthouse
𝕏 highlights
Family office Q2 boosting public equities.
Wealth can be isolating.
Aliko Dangote, Africa’s richest man is setting up a Dubai family office to manage his $35 billion.
reddit highlights
A better class of problem.
in highlights
Wealthy Asian families confronting new levels of complexity.
Shaun Parkin’s practical guide to implementing your investment policy.
Family Office news roundup
Larry Page’s family office discreetly grows in Miami. The Google billionaire’s secretive family office, Koop, has quietly opened an office in Miami’s Coconut Grove, close to the roughly $190 million of property he has bought there, another sign Miami has become a genuine family office hub - Bloomberg
New KPMG US family business report. US family businesses are bullish on growth, with 93% saying they have a clear long-term strategy, but the infrastructure is lagging behind. AI adoption is racing ahead, yet only 40% have formal AI governance, while attracting talent and plugging AI skills gaps remain major headaches - KPMG
Swiss wealth managers urge delay to ownership register. Wealth managers want Switzerland to delay new beneficial ownership register after hackers stole data covering around 31,000 Liechtenstein entities. The Swiss register’s set to hold details on +500K entities, hence critics say register is a cyber-security risk waiting to happen - Financial Times
Texas banking billionaire and children locked in succession drama. Billionaire Gerald J. Ford is fighting four of his children over control of his 26% stake in $2.2 billion Hilltop Holdings. His children claim the 82-year-old is suffering cognitive decline and being influenced by his second wife; Ford’s camp says it’s essentially a money grab - Wall Street Journal
Boutique outsourced family offices are quietly rising in Texas. Boutique outsourced offices are winning business by acting as the “quarterback” across investments, tax, estate planning and risk. Wealthy families increasingly want coordination and independence rather than another institution primarily focused on gathering assets - Connect Money
Living Large: the finer things in life
Inside the world’s most expensive neighborhood: $550M apartments, F1 stars and billionaires. Forbes goes inside Monaco’s new 15-acre Mareterra development, where all 130 homes sold before completion and Rinat Akhmetov reportedly paid a world-record $550 million for his penthouse. The $2.3 billion project generated more than $6.6 billion in property sales and a staggering $3 billion profit for its investors, while residents include billionaires and F1 stars Max Verstappen and Charles Leclerc - Forbes
ICYMI: last week’s newsletter covered what every family office should know about SPVs.
We also published a piece on how capital and ambition alone doesn't mean a family office can build true investment capability.
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