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December 16, 2011

Henry Swieca is reportedly following the example of George Soros and turning his $500 million (€383.6 million) hedge fund Talpion Fund Management into a family office. 

Henry Swieca is reportedly following the example of George Soros and turning his $500 million (€383.6 million) hedge fund Talpion Fund Management into a family office.

The move comes ahead of new Securities and Exchange Commission regulations, which require hedge funds to register with the SEC by March 2012 if they want to manage the money of outside investors.

According to Bloomberg, 54-year-old Swieca will return about $100 million to outside investors.

November 23, 2011

An arbitration claim accusing a US-based family office of breaching its fiduciary duty by allegedly failing to properly diversify a $30 million (€22.44 million) portfolio has been filed. 

An arbitration claim accusing a US-based family office of breaching its fiduciary duty by allegedly failing to properly diversify a $30 million (€22.44 million) portfolio has been filed.

November 10, 2011

Family offices and hedge funds don’t have an awful lot in common, except that they both tend to be small outfits. But these days small no longer means irrelevant and most people agree that hedge funds, however many they employ, ought to be regulated. 

Family offices and hedge funds don’t have an awful lot in common, except that they both tend to be small outfits. That has meant that both of them have, until now, tended to fall outside the clutches of the Securities and Exchange Commission, the American financial regulator.

But these days small no longer means irrelevant and most people agree that hedge funds, however many they employ, ought to be regulated.

October 13, 2011

Family offices are increasingly setting up their own pooled investment vehicles in a bid to differentiate themselves from other financial service providers, according to Cerulli Associates. 

Family offices are increasingly setting up their own pooled investment vehicles in a bid to differentiate themselves from other financial service providers, according to Cerulli Associates.

Robert Testa, senior analyst at the research firm, said family offices are also establishing pooled investment vehicles in order to provide products that aren’t easily available to clients.

September 13, 2011

Anything involving families is a recipe for dispute, and family offices are no exception. Most often, the dispute revolves around whether a family office should stick with being a single family office, or branch out and become a multi family office.

Anything involving families is a recipe for dispute, and family offices are no exception. Most often, the dispute revolves around whether a family office should stick with being a single family office, or branch out and become a multi family office.

So which model is best - single or multi? Should the focus be on wealth preservation or creation?

Read the full story at CampdenFO.

August 19, 2011

Dr Margaret Towle, an expert on family office and ultra-high net worth operations, has joined financial services company HighTower as a partner and managing director, as the company looks to increase its focus on family offices. 

Dr Margaret Towle, an expert on family office and ultra-high net worth operations, has joined financial services company HighTower as a partner and managing director, as the company looks to increase its focus on family offices.

Towle, who joins from Greycourt where she was an adviser, has worked with family offices, wealthy families and ultra-high net worth individuals for 28 years.

August 18, 2011

John Ricciardi, formerly at multi family office Iveagh, has joined investment management company Kestrel Partners. In his new position as head of the company’s investment management division, Ricciardi is to launch a new global multi-asset fund over the next few months.

John Ricciardi, formerly at multi family office Iveagh, has joined investment management company Kestrel Partners.

In his new position as head of the company’s investment management division, Ricciardi is to launch a new global multi-asset fund over the next few months, according to a company statement. London-based Kestrel specialises in offering services to small listed companies.

August 15, 2011

Falling returns, rather than regulatory reasons, might explain the growing number of hedge fund managers converting into family offices in the US, say experts.

Falling returns, rather than regulatory reasons, might explain the growing number of hedge fund managers converting into family offices in the US, say experts.

Sophie Dworetzsky, a partner at international law firm Withers, reckons that tougher times is making the family office model more attractive. “The financial situation now is causing people to move away from being a bigger hedge fund managing a lot of money to a multi or single family office,” she said.

August 9, 2011

HSBC manages more assets of family offices than any other bank in the world, according to a survey by Bloomberg Markets magazine. The survey, which ranks the top 50 banks which manage family office money and commercial multi family offices, found HSBC’s private wealth solutions group to be the biggest, with assets under management of $102 billion.

HSBC manages more assets of family offices than any other bank in the world, according to a survey by Bloomberg Markets magazine.

The survey, which ranks the top 50 banks which manage family office money and commercial multi family offices, found HSBC’s private wealth solutions group to be the biggest, with assets under management of $102 billion. New York-based Bessemer Trust was ranked second, with more than $44 billion under management.

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