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- 223390
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- 217
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- 2011-7-11
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- 2016-4-19
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Family office has a definition - A family office is a private company that manages investments and trusts for a single wealthy family (wiki). A properly set up FO is an institutional investor and requires either some hardcore analytical or super hardcore suck up skills, or both.
You invest the founder's money so you better get it damn right in the first place... and not losing money. Most founders are not as savvy as Baupost or even near. This can be building your investment case difficult...
Back to your point, the business you're talking about is more like a financial firm running by a family. It's private wealth management, not institutional investing.
I'll summarise some quick points below,
PWM - decisions are executed quickly, dynamic environment but does not require hardcore investment thesis and probably limited with investment opportunities (e.g. can't go in infrastructure etc.)
FO - decision are generally executed quickly, willing to invest in new opportunity. Limited in investment opportunities and are super conservative with capital preservation being the key focus.
Insto - decision are made slowly, lots peer pressure. Some limitations in investment opportunities (e.g. can't run a long/short book in some organisations).
Fortunately/unfortunately, I have experience in all of them and in above order...hope it helps. |
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发表于 2011-10-7 22:59
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