California as an important business location in the USA and home to high-class single family offices
California is not only the most populous state in the U.S., but also the largest contributor to the country’s gross domestic product. The state is home to many of the world’s largest companies, particularly in the Internet, technology and software sectors. So it’s not surprising that many wealthy families are based in California and have established their single family office there. As part of our research for our comprehensive database of the largest single family offices in the US, we have therefore paid particular attention to California. We have also published an extract of the largest Californian SFOs in a separate product (see database of the top single family offices based in California). In this article we would like to take a look at the map of all single family offices in California to give you a first impression of the landscape of exclusive investment vehicles. You can find further insights in numerous news and insights on our website.
San Francisco Bay Area and Greater Los Angeles Area in the focus for Single Family Offices in California
California’s economy is particularly concentrated in the metropolitan regions around San Francisco and Los Angeles. In recent decades, Silicon Valley in particular has become a byword for innovation and success. The success stories of Californian companies have made some families very rich over the years. A look at the map of California’s Single Family Offices shows that the economically strong regions serve as a contact point for the investment vehicles of the super-rich. There are hardly any family offices in other regions of California. Interestingly, we were able to identify significant differences in the investment strategy of the single family offices between regions. Detailed information on investment preferences and completed deals can be found in our database.
Why are there so few Single Family Offices in other regions than LA and SF?
Although many of the richest families in California are located in Los Angeles or San Francisco, there are also many very wealthy families in other regions. But why are the most important single family offices found almost exclusively in LA and SF? We got to the bottom of the question and identified three main drivers. 1) In the metropolitan regions of San Francisco and Los Angeles, single family offices can draw on a broad network of (co-)investors. This not only facilitates the exchange of experience, but also offers simplified access to exclusive deals. 2) Like every company, a single family office also depends on top-class employees. The pool of well-trained and experienced employees in LA and SF is simply much larger than in other areas of California. 3) Even though single family offices often operate in secret, their reputation is very important to them. A company headquarters in Silicon Valley, Beverly Hills, Santa Monica etc. is very suitable for this purpose.
Disclaimer: map created with Batchgeo
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