Family Offices

The next decade will witness the largest wealth transfer in history.

European family offices are taking advantage of falling US real estate prices, seeking opportunities in prime office spaces and “trophy assets” despite market instability.

Ultra-rich families are increasingly casting their eye on sports as an asset class. According to Goldman Sachs, interest is fuelled by rising valuations and lucrative media contracts.

Luxembourg’s CSSF financial regulator on 20 February announced that in late 2023, it had imposed a nearly half-million euro administrative fine on Mizuho Trust & Banking (Luxembourg) S.A.

The 17 November 2023 fine of 444,400 euros was imposed for non-compliance with professional obligations under Luxembourg’s financial sector law relating to governance and IT organisation. 

More than half of family offices want to add even more private investments to portfolios by 2024. The most popular category is private credit. Cash, public equities and high-yield lose out.

Navigating the interest rate cycle is a paramount challenge for family offices in Germany, according to a survey by Roland Berger and WHU.

Roderick van Zuylen is prepared for the challenge. On the 1st of January, the ex-Van Lanschot Kempen portfolio manager inaugurated his own investment fund in the US: Night Watch Investment Management. “I desired a name that alluded to my Dutch heritage, yet Dike Capital and Tulip Invest were disregarded for obvious reasons.”

In the dynamic world of family offices, a significant trend is emerging: single family offices increasingly collaborate with multi-family offices for complex administrative tasks. Nienke Bollen and Maartje van Casteren, partners at Providence Capital, have observed this shift in their daily operations. Leveraging their experience, they offer insights to multi-family offices, maximising their expertise.

Where “old money” mainly sought to leave wealth intact, “new money” is going out into the wide world - to make that world a better place. Frederik Redelé, managing director of Amsterdam-based multi-family office Commenda explained to our Dutch colleagues in a Q&A session how he helps high net worth entrepreneurs make an impact.

Global wealth linked to art and collectibles is projected to grow by nearly a third to 2.861 billion dollars by 2026 from the level of 2.174 billion in 2022, according to the Deloitte Luxembourg Art & Finance Report 2023.