Thomas Frist: is there a family office?

This article directly stems from the research process for our American single family office database. Our list of U.S. single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity, and renewables.

Thomas Frist Jr and the Frist family founded Hospital Corp of America which operates 187 hospitals and 2,000 sites of care in the U.S. and U.K. Thomas and his father founded the company in 1968. As of January 2023, Thomas has an estimated net worth of $20.6bn putting him the 80th richest person in the world according to Forbes. In this article, we will discuss how the Frist family office manages its wealth through the Hospital Corp of America and Frist Capital.

Frist manages wealth through Hospital Corp of America (HCA) and Frist Capital

After founding HCA in 1968, Thomas became president in 1977 and would later become chairman and CEO. He remained on the board of directors until 2009 and currently holds the position of Chairman Emeritus. A strong family presence remains at HCA, in 2007 Thomas partnered with his son-in-law Charles Elcan to found China Healthcare Corporation, and his sons Thomas III and William are currently on the board of directors. In 1998, Thomas founded Frist Capital to manage investments made by the Frist family. Frist Capital targets companies in middle markets, later stage, mature, and as well as focusing on private equity, venture capital, and real estate funds. Thomas has various philanthropic interests which are directed through the Frist Foundation and have donated $50m in grants since its inception. The Foundation also played an integral role in the establishment of Nashville’s Frist Art Museum, where he also holds the position of Director Emeritus.

Picture source: Hush Naidoo Jade

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