高盛-全球家族办公室投资见解

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3.0 我心光明 2024-05-28 137 18 695.89KB 25 页免费

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Widening the

Aperture

Family Oce Investment Insights

We are pleased to share our inaugural

Goldman Sachs family oce report with you—

Widening the Aperture:

Family Oce Investment Insights—

which draws from our rm’s rst global survey

of family oce stakeholders and from our

collective experience working with family oces.

The family oce community has rapidly transformed. While

industry metrics are limited and widely varied, our observations

and experiences suggest that this investor base continues

to grow in size and inuence. Across this landscape, family

oces dier substantially in their purpose, investment policy,

and infrastructure. Some handle the ongoing management of

noninvestment family aairs, including tax and estate planning,

philanthropy, and risk management. Other family oces have

signicant operating and portfolio company interests. Others

transact and operate similarly to traditional hedge funds. At

Goldman Sachs, we have had the opportunity to build long-

term relationships with family oces and family-controlled

enterprises around the world with diverse needs and objectives.

Our distinct position serving the family oce community

across our global franchise aords us unique perspectives on

this highly complex investor base. This report encapsulates the

views of over 150 distinct family oce decision-makers from

every major region, along with our shared observations on the

institutional family oce landscape. We strive to capture the

compelling themes and common investment behaviors across

a wide array of family oces, focusing on the subset whose

asset bases are in line with other institutional investors and

whose investment management functions are mostly provided

by a robust team of in-house investment professionals.

Ken Hirsch

Partner, Co-Chairman, Global Technology

Media Telecom, Investment Banking

Co-Lead, One Goldman Sachs

Family Oce Initiative

Meena Flynn

Partner, Co-Head, Global Private Wealth

Management

Co-Lead, One Goldman Sachs

Family Oce Initiative

Tony Pasquariello

Partner, Global Head, Hedge Fund Coverage,

Global Markets

Co-Lead, One Goldman Sachs

Family Oce Initiative

Sara Naison-Tarajano

Partner, Global Head, Goldman Sachs Apex and

Private Wealth Management Capital Markets

Co-Lead, One Goldman Sachs

Family Oce Initiative

Eliana Michaels

Vice President, Private Wealth Management

Capital Markets

Chief of Sta, One Goldman Sachs

Family Oce Initiative

Our ndings are organized into three principal areas of

discussion: the evolving family oce industry, current and future

asset allocation, and family oce investing themes. As family

oces continue to grow in number and size—amid increased

monetization events and equity valuations—we have witnessed

their inuence on the capital markets grow in tandem. It is

our view that this momentum is more than likely to endure,

given the sophistication of family oces and their relatively

unique position of being unencumbered by benchmarks, xed

mandates, exit timelines, and outside investors.

While the respondents of this survey hail from family oces, our

objective is for these ndings to be helpful to family oces and

non–family oces alike. We believe that providing a peek under

the hood into the institutional family oce cohort’s interests

and priorities can reveal established and emerging tactics

worth replicating for other asset managers looking to rene

their own frameworks or to partner with this investor base.

We are grateful for the members of our family oce network

and the viewpoints they graciously contributed to this report,

and we are excited to share that market intelligence with you.

Thank you to everyone who participated in the survey for

your time and your valuable perspectives. We appreciate your

partnership and the trust you continue to place in our people

and our platform.

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摘要：

WideningtheApertureFamilyOceInvestmentInsightsWearepleasedtoshareourinauguralGoldmanSachsfamilyocereportwithyou—WideningtheAperture:FamilyOceInvestmentInsights—whichdrawsfromourrm’srstglobalsurveyoffamilyocestakeholdersandfromourcollectiveexperienceworkingwithfamilyoces.Thefamilyocecommunity...

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