At first glance, foundations and single family offices sound relatively similar: both often manage considerable assets and want to hold these assets. However, the purpose of the investments and the investment motivation are very different: Foundations exist for the common good and invest in projects that improve it. Although (in most cases) the foundation’s assets are to be held for the long term, in the case of single family offices, growth also plays an important role. For family offices, the focus is largely on maintenance and growth, not philanthropy. This article is based on the unique List of the 200 most important single family offices in Germany.

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How do foundations and single family offices work?

In the case of foundations, a distinction is made between grant-making foundations and operational foundations: Grant foundations invest and support existing projects, while operational foundations initiate, support and carry out their own projects. There are also hybrid forms. There are also differences in family offices – some single family offices invest in existing funds, medium-sized companies or finance existing projects, such as real estate projects, while others develop their own investment strategies and opportunities. In some cases, single family offices open these new investment strategies to other investors.

How flexible can foundations and Single Family Offices work?

Just like Single Family Offices, foundations can have different legal forms: when a foundation is set up, a distinction is made between a foundation with legal capacity and a fiduciary foundation. A trust foundation has the advantage that it is legally independent and can therefore operate very flexibly. Nevertheless, there is a big difference between the management of a foundation or a single family office: Every foundation has a foundation purpose, i.e. a certain guideline in what areas the foundation money may be invested. Many foundations also have a board of trustees, which decides which applications correspond to the foundation’s purpose and can be approved. An SFO, on the other hand, also has an investment direction and area, but a single family office can invest flexibly in other areas if required and desired.

Are single family offices and foundations therefore mutually exclusive?

In spite of the different purpose, a union of the two endeavours is not mutually exclusive. In the meantime, there are many (single) family offices which, in addition to their asset management, also have philanthropic ambitions and set up a foundation in addition to the family office, into which money from the family assets then flows.
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Single Family Offices are asset management companies for wealthy families – usually the focus is on maintaining and increasing existing assets. However, there are some family offices that use their wealth to contribute to the common good, for example through foundations. In the following article, three family offices and their respective foundations will be presented in more detail. This article is based on the unique List of the 200 most important single family offices in Germany.

  • Excel list of the 200 most important single family offices in Germany
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
  • Download of the Excel file valid indefinitely, free updates within one year after purchase, free preview file available
  • Database is perfect for identifying family offices and for partner and customer acquisition

Beisheim Capital GmbH – Beisheim Foundation

The Single Family Office of the Beisheim family serves mainly for the asset management of the Beisheim Foundation. The foundation was named after Otto Beisheim, who left his legacy to the German and Swiss foundations of the same name. The German foundation focuses on four areas: education, health, culture and sport. The foundation, which is based in Munich, is both supportive and operative, i.e. within the foundation, it designs its own projects and also invests in existing or planned external ones. The sponsored and in-house projects are aimed at young and old people – intergenerational projects are also welcome. For example “Friends of the Elderly”, a project that fights against loneliness in old age through neighbourhood meeting points and visiting partnerships. The “Football Meets Culture” project also combines various requirements of the foundation – to promote enthusiasm for sport among young people and at the same time provide access to cultural education.

Dr. Rainer Wild Holding GmbH – Dr. Rainer Wild Foundation

Dr. Rainer Wild Holding GmbH is the family holding company of the Wild family and focuses on corporate investments. The investments are concentrated in the food, cosmetics and toy industries. The Dr. Rainer Wild Foundation was established in 1991 and since then, the focus has been on healthy nutrition. Divided into three areas of activity, the foundation constantly draws attention to the latest developments in the field of healthy nutrition. The first area is Events & Prizes, which is mainly aimed at experts and serves as a platform for mutual exchange. In addition, there are model projects, the second area where the knowledge gained is taken up and implemented. The third area are publications that present the results of the foundation as well as of its network.

SKion GmbH – Nantesbuch Foundation

Susanne Klatten is one of the wealthiest Germans – with SKion GmbH her assets are managed, mainly through corporate investments. In 2012, the BMW heiress founded the Nantesbuch Foundation, whose aim is to create more awareness and recognition for nature and art. Through several projects in both areas, a wide variety of people are brought into contact with nature and art – such as the project “Kindergarten Art and Culture”. On the foundation’s own premises, educators and artists introduce the smallest of visual arts, music, drama and dance in the interplay of art and nature. In 2016 Susanne Klatten founds her second philanthropic company together with the analysis and consulting firm PHINEO: The Scale Initiative. With a volume of EUR 100 million, the Skala Initiative supports four areas: Inclusion & Participation, Promotion of Commitment & Competence, Generational Support and offers help in (forgotten) humanitarian crises.
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The energy sector has undergone major changes in recent decades – the share of renewable energy is gradually increasing. The energy revolution is also an exciting and promising investment area for (single) family offices. The following section presents three European single family offices that invest in renewable energy. This article is based on the unique List of the 500 most important single family offices in Europe.

  • Excel list of the 500 most important single family offices in Europe
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
  • Download of the Excel file valid indefinitely, free updates within one year after purchase, free preview file available
  • Database is perfect for identifying family offices and for partner and customer acquisition

Wirtgen Invest Holding GmbH, Germany

The Single Family Office, founded in 2017, was created following the sale of the family-owned construction machinery company “Wirtgen Group”. The family office now manages the entrepreneurial family’s assets – the focus is not only on real estate investments, but above all on renewable energies. The Windhagen-based GmbH is active worldwide and operates solar, photovoltaic and wind farms. The company’s portfolio includes a total of five solar parks (some of which are still under construction), four photovoltaic systems and two wind parks. The family office was particularly successful in the second half of 2020: two solar farms in Portugal and the second wind farm from Wirtgen Invest was successfully connected to the local power grid.

Kirkbi A/S, Denmark

Kirkbi A/S belongs to the Kirk Kristiansen family. The single family office, based in Billund, invests in real estate, private equity, fixed income investing and renewable energy. This investment branch, which was established in 2012, focuses on solar and wind energy in Northern Europe and North America. The current portfolio includes two wind farms and a solar energy company, which was acquired in 2019. In total, the LEGO family’s renewable energies have generated almost 600 GWh.

Korys, Netherlands

The Korys Single Family Office is the asset management arm of the Colruyt family. The company invests mainly in three branches, all of which have a sustainable core: Life Sciences, Conscious Consumer and the energy revolution. The Single Family Office, based in Halle, the Netherlands, describes itself as a pioneer of offshore wind farms and invests in the planning, construction and maintenance of wind and solar parks as well as in supporting technology such as warning or tracking systems. Here Korys often invests in the early stages of the company.
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Capital market investments are sometimes the main asset class of single family offices. Investments are made in equities, funds, ETFs and the like. We present three interesting German single family offices that invest in financial markets. This article is based on the unique List of the 200 most important single family offices in Germany.

  • Excel list of the 200 most important single family offices in Germany
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
  • Download of the Excel file valid indefinitely, free updates within one year after purchase, free preview file available
  • Database is perfect for identifying family offices and for partner and customer acquisition

Beisheim Capital GmbH

Beisheim Capital GmbH is the asset management company of the Beisheim Foundation and aims to maintain and increase the Foundation’s assets. The Düsseldorf-based GmbH reviews its investment strategy and portfolio twice a year – in addition to ethical principles, the asset management company places particular emphasis on transparency and the high quality of its investments. The Single Family Office of the Otto Beisheim family also pays attention to diversification – geographically and in various asset classes: thus, in addition to real estate investments and strategic participations, the SFO invests in stocks and bonds, mainly through mandates.

A&V holding GmbH & Co. KG

The A&V holding GmbH & Co. KG is the asset management company of the Ackermans-Voelkel family. In 1989 Gerhard Ackermans sold his shares in the Allkauf Group, which has since been taken over by Metro AG. The profit was used to create the family assets and thus the Single Family Office A&V holding. In addition to investments in real estate as well as in real estate project developments, private equity investments and corporate investments, the GmbH & Co. KG invests in securities.

Reimann Investors Advisory GmbH

Reimann Investors Advisory GmbH is the single family office of the Reimann-Dubbers family. In 1999 Reimann-Dubbers separated from the former family business and founded their own asset management company in 2006. This focuses on two investment areas: Corporate investments and capital market investments. The Grünwald-based company uses a core-satellite approach for capital market investments: the focus is on low-cost ETFs, which are supplemented by targeted individual investments. A special feature of the family office is that they opened up their capital market investments in 2009: outside the family, too, there is the opportunity to participate in the investment concept of Reimann Investors Advisory GmbH and invest in the capital market in the same way.
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Private equity funds offer the opportunity to pool capital and thus achieve a broader spread of investments – geographically, in the industry and in risk factors. In recent years, private equity – direct investments in unlisted companies – has become one of the most sought-after asset classes of family offices. This is also due to the fact that the growth potential of companies in private equity funds is often high and thus a higher return can be expected than with equity funds. The following article presents three Swiss multi family offices that invest in private equity funds. This article is based on the unique List of the 150 largest Multi Family Offices in Switzerland.

  • Excel list of the 150 most important multi family offices in Switzerland
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
  • Download of the Excel file valid indefinitely, free updates within one year after purchase, free preview file available
  • Database is perfect for identifying family offices and for partner and customer acquisition

Agenda Invest AG

Agenda Invest AG was founded in 2010 and offers its services to a narrow circle of wealthy families. These include services such as family governance, corporate finance & direct investment, asset management & investment advisory and private investment management. The Lugano-based company is distinguished by its particularly broad network – both in terms of its clients and in terms of cooperation with other family offices and expertise. Here co-managed Agenda Invest is a platform on which various private equity funds are available, from which the family office can offer its clients tailored investment solutions.

Black Oak Family Office SA

The Black Oak Family Office SA is based in Geneva and offers a wide range of services for wealthy families. From determining individual investment goals and risk tolerance, estate planning, retirement planning to tax and legal matters. One of the services offered is to assist clients in private equity investments – SA makes individual pre-selections and then develops suitable investment strategies together with the family. The focus of the Multi Family Office is on private equity in fund investments – here Black Oak also offers co-investments.

HELMS Family Office SA

HELMS Family Office SA is a Geneva multi-family office with five different lines of business: Family Office Services, Asset & Wealth Management and Fund and Corporate Finance Services. In Asset Management, the Multi Family Office offers various services related to private equity, with a particular focus on Europe, the Midwest and Asia. In addition to direct investments, HELMS Family Office also has investments in private equity funds in its portfolio.
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Real estate investments are often represented by single family offices. The goal of many family offices, the holding and increase of wealth, is secured by rather conversational real estate investments. The spectrum of possible investments is diverse – both geographically and in terms of segments. In the following articles three special real estate investments of European single family offices are presented. This article is based on the unique List of the 300 most important single family offices with a real estate focus in Europe.

  • Article based on database of the 300 largest single family offices with real estate focus in Europe
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
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Bjert Invest A/S with Design City (Kolding)

Bjert Invest A/S, based in Kolding/Bjert, is a Danish single family office of the Martin Jensen family. The A/S is divided into three different business areas: Real estate, business development and capital investments. The investment profile in real estate is focused on residential, industrial and office properties. One of the company’s largest and most well-known projects is the development and construction of a new district in Kolding – Design City. Together with various joint venture partners, a completely new district with a usable area of 90,000 m² is to be created in the coming years. The focus of the project is on sustainability and innovation through design – this should also enable new forms of cooperation. So far, the Design City includes an education centre, an office building, youth accommodation and a tunnel connecting the new university with the rest of the campus. Financial buildings, residential real estate, retail, cultural and leisure activities are planned.

Edizione S.r.l. with Fondaco dei Tedeschi (Venice)

Edizione S.r.l. has a long history: the Treviso-based company was founded in 1981. With an asset value of over EUR 13,000 million, the Benetton family’s asset management invests in many different areas. The three largest sectors are real estate and agriculture (13% of the portfolio), digital infrastructure (19%) and transport infrastructure with 42%. In addition to several large agricultural areas, one investment stands out in particular: the Fondaco die Tedeschi, a cultural asset of Venice, which was originally built as early as 1228. The former branch of “German” merchants (Hungarians, Austrians and Flemings included) was renovated in 2009-2016 with the financing of Edizione and is now used as a department store. A special tourist attraction is the roof terrace from which Venice can be overlooked.

ANH Hausbesitz GmbH & Co. Limited partnership with the KNEE (Berlin)

The ANH Hausbesitz GmbH & Co. Kommanditgesellschaft has its origins in family owned retail trade. Already in 1864 the first business was founded, which developed and expanded continuously. In 2003, the family withdrew from the retail trade and with the GmbH developed into an important real estate company, initially only in North Rhine-Westphalia. After 2008, the asset management of the Bremke & Hoerster family expanded its investment profile and now focuses on real estate projects in Berlin and the new federal states. One of the latest and best-known real estate investments of the Arnsberg-based company is the 7-storey office building “The KNEE” in the centre of Charlottenburg. The building will be ready for occupancy at the end of 2019. LEED (Leadership in Energy and Environmental Designs) certification is awarded to real estate projects that meet certain sustainability criteria. The KNEE convinced and was awarded LEED Gold certification at the end of 2019.

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Mezzanine capital describes a hybrid form of equity and debt capital that is located in the capital structure of a project between the equity tranche and the debt tranche coming from the bank. Mezzanine financing thus offers investors the opportunity to minimise the use of equity in real estate investments and project developments. While investors have to use less equity capital and can operate several projects simultaneously through the use of mezzanine capital, attractive returns beyond the interest rate level attract mezzanine capital providers. Single family offices are increasingly acting as mezzanine capital providers. We present three in this article. This article is based on the unique List of the 300 largest single family offices with a real estate focus in Europe.

  • Article based on database of the 300 largest single family offices with real estate focus in Europe
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
  • Direct download as Excel file via online store
  • Free preview file available on request
  • Database is perfect for identifying family offices and for partner and customer acquisition

Arvantis Group GmbH

The Arvantis Group GmbH acts as the single family office of Alexander Samwer. The investment holding combines 6 subsidiaries: Picus Capital, operating in the technology sector, Pacifico and Voltaro, both in the renewable energy segment and three subsidiaries with a real estate focus: Augustus, Fabrix and Linus. Linus GmbH acts as a platform for mezzanine capital investments: the GmbH, founded in 2016, reviews projects, selects suitable ones and initially invests the full amount. The secured project is then placed on the company’s own platform, where investors can now participate through mezzanine financing. Linus itself participates in each project with at least 25% and a mezzanine capital amount between EUR 3-20 million. The real estate portfolio of the Berlin-based GmbH comprises 42 financed projects with an invested capital of EUR 518 million.

JP Beteiligungsgesellschaft mbH

JP Beteiligungsgesellschaft mbH has a long tradition of over 200 years, which is continued with the asset management of a Hamburg family. In addition to its corporate finance branch, the Hamburg-based mbH focuses on real estate transactions and owns several residential properties in Hamburg and Berlin. The core of the company is real estate financing through joint ventures or mezzanine capital. The investment profile for mezzanine financing is between EUR 3-15 million in the asset classes residential, office, commercial and hotel. The asset management also invests in Germany, Austria and Switzerland with a preferred project duration of 2-3 years.

Mogk GmbH & Co. KG

The Mogk GmbH & Co. KG, the single family office of the Oliver Böttger family, invests in mezzanine capital with a small portfolio share. Founded in 2011, the company clearly focuses on real estate with an 80% portfolio share. The family office currently holds 23 investments with a value of EUR 43 million. The focus is on residential, office and hotel projects, each accounting for around 20% of the assets. Direct investments in commercial and residential real estate each account for approx. 15% of the assets. The share of investments with mezzanine capital at Mogk is around 2%.
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The fundamental objective of (multi) family offices is to hold and increase wealth. Depending on risk aversion, desired margins and area of interest, there are a variety of investment opportunities. A large part of the private equity business is venture capital: temporary equity investments in young companies, mostly in the growth segment. Especially when investing in start-ups, venture capital investors not only invest, but often also provide advice. In the following, three Swiss multi-family offices that invest in start-ups and venture capital are presented. This article is based on the unique List of the 150 largest Multi Family Offices in Switzerland.

  • Articles based on database of the Top 150 Multi Family Offices in Switzerland
  • Including contact details (e-mail, telephone address, management) and focus (asset management, consulting, banking)
  • Direct download as Excel file via online store
  • Free preview file available on request
  • Database is perfect for identifying family offices and for partner and customer acquisition

Wille Finance AG

Wille Finance AG has entrepreneurship in its blood right from the start: in 2007 a group of founders and their families and friends founded the AG. Entrepreneurship is one of the three pillars on which the philosophy is built: trust, long-term thinking and entrepreneurship. The family office, based in Zurich and Baar, now has 18 employees and 28 portfolio companies. Early stage investments focus on Europe and life sciences as well as information and communication technology.

Winterberg Group AG

Winterberg Group AG was founded in 2011 by investment and strategy consultants. Meanwhile, the Multi Family Office has offices in Hamburg, Berlin, Munich, Moscow and Johannesburg, with the head office in Zug. The AG has two investment strategies: majority investments in medium-sized companies and growth capital for start-ups. The company invests primarily in seed/series A financing rounds and places particular emphasis on exponential growth for portfolio companies. Geographically, the family office focuses on the USA, Europe and South Africa. Its sectoral preference is broadly diversified: Transport & Mobility, Internet of Things, Health and Fitness and Cyber Security are four of the total six sectors.

General Invest (Switzerland) AG

Mikro Kapital, which belongs to General Invest (Switzerland) AG, was founded in 2008 and focuses on impact investing and social responsibility. The company, which is represented in 15 countries, employs over 1700 people* with its portfolio companies and has 131 offices. The investments are made in Russia and along the Silk Road, always with the prerequisite that the respective micro-enterprises/start-ups have a high growth potential and a strong social orientation and impact.
Source: Listenchampion

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Multi Family Offices are asset management companies of several entrepreneurial families who wish to hold and increase their assets. The merger of several families distinguishes Multi Family Offices from Single Family Offices, which often have more diversified portfolios and, above all, greater purchasing power. Many wealthy families like to invest their money in luxury items in addition to classic investment opportunities (real estate, shares, venture capital, etc.). In addition to boats or airplanes, the purchase and trade of art is in great demand. In the following article, three Swiss multi-family offices that are active in the art trade are presented. This article is based on the unique List of the 150 largest Multi Family Offices in Switzerland.

  • Articles based on database of the Top 150 Multi Family Offices in Switzerland
  • Including contact details (e-mail, telephone address, management) and focus (asset management, consulting, banking)
  • Direct download as Excel file via online store
  • Free preview file available on request
  • Database is perfect for identifying family offices and for partner and customer acquisition

Belvédère Asset Management AG

Belvédère Asset Management AG was founded by Thérèse Meier and describes itself as a “boutique with specialized expertise”. Art is one of its three business areas, alongside family office and asset management. Based in Glarus, Zurich and Päffikon, Belvédère Asset Management AG has been providing advice on all aspects of collection management since the company was founded in 2001. The AG offers services ranging from the purchase of works, curatorial expertise for the creation of a collection concept and work histories to appraisals, insurance, loans, transport and restoration.

Marcel Dosch Family Office

The Marcel Dosch Family Office, based in Maienfeld, is divided into five divisions: Support, Assets, Real Estate, Art and Life Cycle. Under the motto “Art is as individual as its beholder. Individuality is our strength”, the Family Office promises to find young and unknown artists together with its experts, in addition to classic works and artists*. The focus is on the motivation of the respective client, which is to be fulfilled through the broad networking of the family office.

Amendris AG

Amendris AG was already founded in 1987 and has a wide range of services: In addition to family office specific activities and asset management, the AG offers expertise in real estate, tax & law, investments in the capital market and in the art sector. As in the other areas, the Lucerne-based family office has a high level of expertise through the cooperation with internal and external experts regarding art (objects). Amendris distinguishes itself through individually tailored services, which also leave open the possibility of global art trading.Source: Listenchampion Picture source: Unsplash

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Project development, i.e. the conception and planning of a (real estate) project, is also popular with (single) family offices. Single Family Offices manage the assets of an owner family with the aim of holding and increasing these assets. In the area of project development, single family offices often work together with various capital providers and real estate investors. This article is based on the unique List of the 300 most important single family offices with a real estate focus in Europe.

  • Article based on database of the 300 largest single family offices with real estate focus in Europe
  • Useful information such as investment focus, investments, which families are in the background, estimated family wealth, etc.
  • Direct download as Excel file via online store
  • Free preview file available on request
  • Database is perfect for identifying family offices and for partner and customer acquisition

Actris Beteiligungs GmbH & Co. KG

The Actris Beteiligungs GmbH & Co. KG is a real estate management company based in St. Leon-Rot. The GmbH & Co. KG belongs to the Hopp family and is managed by Daniel Hopp, the son of Dietmar Hopp, one of the co-founders of the IT company SAP and one of the wealthiest Germans. In 2017 Hopp invested in the imitation of one of Frankfurt’s landmarks: The Henninger Tower. The new tower was placed in Hainer Weg in Sachsenhausen and functions as a high-rise residential building with 209 apartments. With 130 metres and 39 storeys, the new Henninger Tower is almost 30 metres larger than the original. A current project of Actris Beteiligungs GmbH & Co. KG is the purchase of the Pfungstadt company premises. In future, a residential quarter is to be built on the original brewery site in cooperation with the project developer Conceptaplan.

Black Horse Investments GmbH

Black Horse Investments GmbH is a single family office with a real estate focus and is located in the Dreischeibenhaus in Düsseldorf. The Dreischeibenhaus is also one of the most famous projects of the family office – in 2011 the GmbH together with the MOMENI Group bought the listed building and renovated it. In 2015 the building was awarded the title “Best Refurbishment” of the MIPIM Award. The Family Office belongs to the Schwartz-Schütte family. The former president of the German-French Chamber of Commerce took over the position of managing director of Black Horse Investments GmbH in 2007. In cooperation with the MOMENI Group, joint venture partner of the GmbH, the SFO will invest in a prominent property in Düsseldorf’s Media Harbour at the end of November 2019.

Vitcorp

In addition to German-based family offices with a real estate focus, there are also many internationally active project developers who invest in German real estate/properties. One of these single family offices is the Vitcorp Family Office: The UK-based SFO even focuses on project developments in Germany and has recently invested in a five-star hotel in Frankfurt Sachsenhausen, in addition to projects in Berlin (Greifswalder Straße and Bergmann Straße). The “Villa Kennedy Hotel” has 181 rooms and was designed by the German architect Eike Becker. The German subsidiary SIC Properties GmbH manages the projects from Berlin.

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