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Alternative Market Briefing

Multifamily office assets jump up more than 50% to $1.2tn in U.S. over the last five years

Friday, December 14, 2018

Laxman Pai, Opalesque Asia:

Multifamily office assets - and marketplace acceptance of their client-centric model - are both up sharply, increasing more than fifty percent to an estimated $1.2tn in the U.S. over the last five years, said an industry report.

Multifamily offices provide comprehensive financial and ancillary services to a set of unrelated client households, said the 2018 State of the Family Wealth Industry report by the Family Wealth Alliance.

Client assets usually range from $30m to $300m, with a mean firm size of approximately $6bn, it said.

The number of firms and volume of assets controlled by Single-Family offices are growing as well, with approximately $1.9tn in assets, a 40% increase over five years. These offices serve a related set of multigenerational households originating from the same wealth-creator and have an average size of $600m.

Hedge fund managers have brought attention to the industry with many converting to the Single-Family office structure in recent years.

Single-Family offices have also increased their participation in direct private equity deals, increasing their collective profile still further. This important source of private capital is likely here to stay.

Concerns about long-term sustainability persist, with the challenge of transitioning leadership to the next generation affecting both families and firms. A shortage of talent further burdens all organizations in the industry.


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