The Family Office or Multi-Family Office
For some clients, neither the private company acquisition nor the family-sponsored private equity fund can be achieved as a first step. The immediate need is to organize the family’s approach to investing the wealth for the next generation. This is not the principal, private equity goal of our firm, but it is a service that we will undertake if a starting point needs to be created.
If this is the case, we will develop a plan for a family office, single family or multi-family, agree upon a budget, and implement the plan. The plan will be comprehensive as to time frame and sources of staffing. NexGenCos looks at the first generation entrepreneur’s career, lifestyle goals, risk tolerance, ongoing needs, and perceptions of the changing needs of their family members. We help our first generation clients articulate the objectives they have set forth and tailor a unique plan to fulfill them. Our main concentration is not the formation or management of family offices. This step is, however, often necessary to achieve the long-term and ongoing attention to issues regarding asset allocation strategies that most families will want to achieve before undertaking the development of a private equity fund or the pursuit of the acquisition of one or more private companies.