Sydney is the capital city of the state of New South Wales, and the most populous city in Australia. Located on the east coast, the metropolis surrounds Port Jackson, an inlet of the Tasman Sea. The economy is notable for its importance in the areas of trading, manufacturing, finance, education, and distribution in Australia. Furthermore, Sydney is a leading financial center in the Asia-Pacific region. Almost one fifth of the city’s GDP is created by financial services. Moreover, the Creative and Technology sectors are focus industries for the City of Sydney. It is home to the headquarters of the Australian Stock Exchange and the Reserve Bank of Australia and also serves as the regional headquarters for numerous multinational corporations which, of course, also attracts the private investments offices of Australia’s richest high net worth individuals. We identified those single family offices in our recently released database of the largest single family offices in Australia. With this article, we want to present you an insight and introduce three single family offices, that have headquarters in Sydney.
- 49 entries, thereof 35 with E-Mail address, 48 with executive names
- Investment focus: Real Estate, Venture Capital, Private Equity, Financial Products, Renewables
- 23 columns included: Name, Family Name, Estimated Family Wealth, Detailed Investment Focus and exemplary investments, address, phone, e-mail, website…
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#1: BBRC Capital Management
BBRC takes care of all the financial and wealth related needs of Brett Blundy, an Australian businessman. Brett started his BBRC empire back in 1980 when he purchased a single record store “Disco Duck” which today, after several acquisitions of entertainment businesses, is known as the Sanity Entertainment Group. In 2005 he stepped into the consumer business with the purchase of Diva, a fashion jewelry store with close to 200 stores in Australia and New Zealand and 400 in international markets. Moreover, Blundy owns a 242-foot megayacht called “Cloud 9” and partly runs the BridgeClimb in Sydney, one of Australia’s biggest tourist attractions. Forbes estimated his total net worth at $1.8 billion. BBRC Capital Management mainly seeks for new private equity investments in the retail, consumer, agriculture and technology sectors but also invests through funds. The portfolio includes, for example, Adairs, a specialty retailer of homewares and home furnishings in Australia and New Zealand. It is focused on differentiating its product offering by delivering on-trend fashion products and quality staples. Another portfolio company is Universal Store, Australia’s go-to retail destination location for the latest in youth street and casual fashion. With over 50 retail locations around Australia and growing Universal supplies the latest in Men’s and Women’s fashion from leading fashion brands.
#2: Leda Holdings
Leda Holdings serves as the private single family office of Bob Ell, an Australian property developer and businessman. Prior to founding his real estate development company in 1976, the Leda Group, Ell worked as a carpenter at construction sites. He floated Leda on the Australian Stock Exchange in the late 1980s and privatized the company back in 1990. Today Leda’s head office is located in Sydney and it has business interests in Queensland, New South Wales and the Australian Capital Territory. Bob Ell’s investment and development skills originated in the Sydney industrial property market. Leda’s domination of the Sydney industrial market during the 1980s resulted in its successful expansion across commercial, retail and residential property in NSW, QLD and the ACT. As his single family office, Leda Holdings focuses exclusively on real estate investments in the areas of asset management, project development and construction. Notable holdings include, for example, the Victoria Point Shopping Centre, the Rosemeadow Marketplace and 101 Sussex Street in Sydney.
#3: Grok Ventures
Grok Ventures is the private investment office of Mike Cannon-Brookes, an Australian billionaire and businessman who made his fortune through his software company Atlassian. He founded Atlassian together with Scott Faquhar in 2002 with the simple goal to replicate the then-typical graduate starting salary of A$48,000 at the big corporations without having to work for someone else. The two had met during their studies at the University of New South Wales in Sydney. They bootstrapped the company for several years, financing the startup with a $10,000 credit card debt. In the end their plan somehow worked out and they even bypassed their original goal of earning A$48,000 by far. Today Atlassian is a successful software firm that develops products for software developers and project managers. With over 3,000 employees serving more than 130,000 customers and millions of users, the company is active in six countries and has 9 offices. Mike Cannon-Brookes net worth is currently estimated at $14,3 billion. His single family, Grok Ventures, focuses on venture capital investments in fast growing technology companies active in the fields of technology, software, healthcare, industrial and energy. An exemplary investment is Zoox. The California based robotics company works on autonomous mobility in self-driving cars.
Picture source: Tyler Duston
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