Family Office & RIA Weekly Roundup | 12.14.23 | Volume 84

Family Office & RIA Weekly Roundup | 12.14.23 | Volume 84

Volume 84

12/14/2023 (5 Min. Read)


Light is Shed on Unicorn Founders, Asia Drives Credit Demand and the Al Nahyan Family Becomes the Richest Family in this Week's Edition...

?

FINTRX Founder & CEO, Russ D'Argento, Featured on 'Internal Use Only' Podcast:

FINTRX Founder & CEO, Russ D'Argento, Featured on 'Internal Use Only' Podcast

Listen on Spotify podcasts >>


Take a Lap Around the Industry

  • Fed's Final 2023 Policy Move Could Offer Economic Relief in 2024?(BI)
  • Solar, Wind Expansion Vital to Ambitious New Climate Accord?(WSJ)
  • Citadel to Hand Out $7B Following Years of Strong Returns?(Bloomberg)
  • Tesla Forced to Recall 2 Million Cars Over Autopilot Safety Concerns?(Reuters)


Unicorn Founders Take Winding Roads to Billion-Dollar Valuations

A new study from Endeavor Insight examines the career paths and backgrounds of top unicorn founders in the United States and emerging markets. Unicorns are privately-held startup companies valued at over $1B. The research analyzed 100 top US unicorn founders and 100 from emerging markets to uncover commonalities and differences. It found that over half of the US founders were immigrants, while the emerging market founders often migrated within their own region's countries. Notably, a minority of founders graduated from elite universities or worked at top employers. Among the founders, 50% brought experience from previous startup ventures, with an overall workforce tenure averaging ten years. Interestingly, emerging market unicorns reached the $1B mark an average of 6 months faster than their US counterparts, likely attributed to their solving more basic consumer needs in finance or transportation. The study ultimately aims to reveal the many potential roads to success as a founder and how paths may differ across geographies.

"There is no gilded, shimmering pathway through life for all founders of the highest-valued unicorns. There are many yellow brick roads to success, and this study has shown some clear differences between founders in emerging markets and more mature entrepreneurial ecosystems like the United States."
Endeavor


Founder Pathways Chart: US & Emerging Market Unicorns


Private Funding Pulse Check?

  • Aria, a secure lending solution that allows marketplaces and SaaS to embed instant advance payments into their product, has secured $16.2M in a Series A funding round joined by Paris, France-based Otium Capital
  • In a recent Series B round, Smedvig Capital Family Office participated in a $20M investment in?Minut, a smart home company developing a sensor that monitors noise, occupancy, smoke and motion
  • Artha India Ventures has participated in a $1M Venture funding round for?Aliste Technologies, an Indian technology company automating existing homes
  • David Solomon's Family Office, Hildred Capital Partners, has engaged in a $65M Acquisition investment in?Hello Bello, a Pacific Palisades, CA plant-based food company

https://www.fintrx.com/


Asia-Pacific Drives Growing Investor Demand for Private Credit

A recent survey by alternative asset manager, Coller Capital, found significant investor interest in increasing allocations to private credit markets. The $1.6 trillion industry has attracted capital this year thanks to its relatively senior position compared to equity, along with rising interest rates boosting yields on floating rate products. The survey showed 44% of private market investors intend to raise their stake in private credit, more than for other assets like infrastructure and real estate. This demand is especially high in Asia-Pacific, with 72% of investors there looking to deploy more capital into private credit. Investors are enticed by private credit’s lower risk profile despite potentially lower returns than private equity. However, margins are compressing from peaks last year due to more competition and a slowdown in M&A. The favorable rate environment and expected consolidation among fund managers show private credit’s strong prospects. With banks seen lagging private credit in lending to private equity, investors have significant optimism for private credit’s future.

"On a relative value basis, you’re going to think really hard about how much do I want to allocate to private equity versus private credit..."
Ed Goldstein, Coller Credit Secondaries


Private Credit Wins Out


Gulf Royals Top Bloomberg's Richest Families Ranking in 2023

A new report from?Bloomberg?highlights major shifts among the world's wealthiest families in 2023. For the first time, the Al Nahyan family of the United Arab Emirates tops the ranking as the richest dynasty globally with a $305B fortune accumulated from Abu Dhabi's vast oil reserves. The royal Al Thani family of Qatar also enters the top 5 at $133B. These Gulf petro-fortunes showcase the growing economic influence of the region as the collective wealth of the world's richest families jumped 43% to over $1.5 trillion last year. Other notable changes include the owners of the Hermès luxury brand vaulting to third place by spearheading trends and cultivating brand loyalty over generations. The ranking demonstrates how the world's richest clans have prospered through unity and perseverance despite volatility.

"That’s helped dynasties endure despite wars, downturns, taxes, blood feuds and errant in-laws. Buoyant markets help too, but the most successful families are fixated on generational, not quarterly, milestones...They play a much longer game."
Bob Gould, Creaghan McConnell Group

https://www.bloomberg.com/features/2023-worlds-richest-families/?sref=l3FEFSDd


RIA M&A Activity Tracker?

  • Hightower acquires $2.5B AUM registered investment advisor Resource Consulting Group, strengthening their presence in the Southeast region
  • Resource Consulting Group founded in 1988 and based in Orlando, FL, provides investment management and financial planning services
  • The deal allows Resource Consulting Group to maintain autonomy while gaining resources to enhance client service offering
  • Resource Consulting Group founder and CEO, Mike Davis, sees the partnership as way to grow and evolve business while delivering same high-quality service?(Cision)



要查看或添加评论,请登录

社区洞察

其他会员也浏览了