The „House of Travel“ Group, Australia’s leading travel company, attracts two new long-term investors. One of them is the „Sinclair Investment Group“, the single family office of the Edgar family.

Strong Travel Brands in Australasia united in “House of Travel” Group

House of Travel was founded in 1986 in New Zealand and expanded to Australia in 2007. Since its humble beginnings, the company grew to one of the largest independent travel companies in the area. Turnovers in 2018 were at $1.8BN. Well-known brands of the House of Travel Group are TravelManagers Australia and Hoot Holidays.

New Australian Family Office Investor to Strengthen Balance Sheet

In order to fight COVID-19 uncertainties and to strengthen the financial resources of the company, House of Travel got two new equity investors: Tailorspace and the Sinclair Investment Group. Tailorspace is an investment management company founded by Ben Gough in 2007. The Sinclair Investment Group is the single family office of the Edgar Family, founded by Sir Eion and Lady Jan Edgar. The Edgar family office invests in businesses, as well as philanthropy, sports, and arts.

Picture Source: Dan Freeman
Source: TravelWeekly, 29.06.2020

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DERECO, one of Germany’s major real estate multi family offices, launches a property development project in Saarbrücken (Germany).

„Onetwoseven“ project: joint venture between property developer and family office

Together with real estate developer NORSK Deutschland AG, DERECO formed a joint venture in order to develop 204 student apartments in Saarbrücken. The building permit was granted and the construction will start soon. The project will be realized near the University Saarbrücken at the „Areal am Meerwiesentalweg“. The building will be equipped with a PV-installation which should intend the majority of the energy consumption of the building, also e-mobility charging stations are planned. The project was planned by the Saarbrücken-based architecture firm  BÄUERLE Architekten + Brandschutz.

Source: LifePr.de
Picture Source: Noah Boyer

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German Hartinger Group, the single family office of the Hartinger family, recently acquired the former headquarter of the pharmaceutical company Biogen GmbH in Ismaning, Munich.

Acquiring an office building near Munich

The now-acquired building was built in 1990. The 3 story building has an area of 3000 sqm. The building was usually designed for six parties. The Hartinger family office now intends to revitalize the building and to rent out the office space. The building was sold by a pension fund for a large German company. The purchase price remains undisclosed.

Hartinger Family Office as German real estate investor

The Hartinger Group from Rosenheim is a 3rd Generation family office that is mainly active in the real estate sector. In 2019, the portfolio value rose over €120M, the family office is currently actively acquiring new properties. The company’s portfolio is mainly located in Bavaria.

Sources
Deal-Magazin, 21.05.2020
Alesia Kazantceva (picture), 21.05.2020

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The UK startup Smarterly received a £7M Series A funding round. The round was led by the Major Oak Family Office.

Lifetime ISAs through payroll deduction

London-based Smarterly launched in 2017 in order to offer workplace saving plans through payroll deductions. Through Smarterly’s intuitive platform, employees can invest in lifetime ISA. Many major UK companies introduced Smarterly as employee benefit. Recently, Smartly also acquired the pension account firm Salvus. Smarterly now has 80,000 customers and more than £230M assets under management.

Major Oak family office as lead investor

The main part of the round (£5M) was contributed by the Major Oak family office, which has made with Smarterly its first larger investment.

Sources
Business Cloud, 21.05.2020
NeONBRAND (picture), 21.05.2020

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Deutsches Milchkontor GmbH (DMK) is one of Germany’s largest dairy companies. Now, the Zeven-based firm sold its subsidiary Sanotact GmbH to Flotte Holding GmbH, an investment vehicle of the Piëch-Nordhoff family.

Sanotact: Supplements Producer based in Münster (Germany)

Sanotact was a brand and subsidiary of the DMK Group. DMK is a leading German dairy company with 7,700 employees and more than €5.6BN in revenues. In the future, DMK wants to focus on its dairy products. As a consequence, DMK sold its supplement producer Sanotact GmbH. Sanotact has its headquarters in Münster and employs almost 200 people. The product portfolio consists of three pillars: supplements, dextrose and breath freshener. The purchase price of Sanotact remains undisclosed, the new owner takes over all employees.

New private equity family office of Piëch-Nordhoff family

The Piëch-Nordhoff family belongs to the Porsche family, who owns large parts of the world’s largest car manufacturer Volkswagen. Now, the family builds up a private equity family office through the Flotte Holding GmbH investment vehicle. The holding focuses on sustainable companies.

Sources
TopAgrar, 08.04.2020
Michele Blackwell (Picture), 08.04.2020

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On March 31st, German Family Office AM Alpha announced the acquisition of a portfolio of 25 newly built residential properties in Tokyo for an undisclosed sum. The transaction already took place in September last year, the assets are still under construction. Martin Lemke, the managing director of the Munich-based family office, commented the transaction with: “Demand for residential space, which is boosted by consistently positive fundamental data, and the resulting cash flow stability perfectly complement our existing value-add exposure in the region.”  The project is realized by a renowned Japanese real estate developer.

German family office actively investing in Asia-Pacific real estate

AM Alpha is a globally active (multi) family office with close ties to Wolfgang Egger, founder of the listed German real estate investment firm Patrizia AG. The firm is on a global expansion track: Other investments in the Asia-Pacific region are the 179 North Quay office tower in Brisbane and another mixed-use building. AM alpha was also active in Tokyo before: in 2012, the family office acquired the Axall Roppongi, an office building in the central commercial district Roppongi.

Sourvecs
Real Assets, 07.04.2020
Europe RE, 07.04.2020
Ryo Yoshitake (Picture), 07.04.2020

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Cycas Hospitality is a rather young competitor in Europe’s hospitality sector. Nevertheless, the Amsterdam-headquartered firm has huge growth ambitions. The Thailand single family office “Hua Kee Group” acquired a third of Cycas shares. Now, the German market is on the agenda for Cycas’ further hotel openings.

Cycas: Strong Growth in Europe’s Hotel Market, now targeting Germany

In 2008, Cycas was launched by John Wagner and Eduard Elias. The Dutch hospitality firm focuses on long-stay hotels – and currently manages more than 50 objects in its target markets Great Britain, Belgium, France and Netherlands. There are several reasons for Cycas’ extended-stay strategy: efficient operations, high margins and less common spaces (which results in more lettable rooms). Cycas operates brands like Staybridge Suites, Residence Inn or Hyatt House. Now, the company wants to triple its amount of managed rooms to 10,000. Thereof, 4,000 rooms in Germany. The man behind the aggressive growth plans is the new CEO Matt Luscombe, who was formerly Intercontinental Hotels’ Chief Commercial Officer for Europe. So far, Cycas Hospitality manages two objects in Germany: the Element Hotel at Frankfurt Airport as well as “The Hotel Darmstadt”.

Hua Kee Group: Single Family Office from Thailand back growth plans

The financial power for the planned strong growth in Europe stems from the Hua Kee Group, a single family office from Thailand. Hua Kee acquired a third of Cycas shares from Eduard Elias and John Wagner. Besides that, Hua Kee will also be able to engage in co-investments. Thereby, Cycas plans to triple its revenue to more than €100M. The Thai single family office also owns and operates several hotels in Southeast-Asia, Australia and Europe. Besides its hospitality real estate investments, the Hua Kee family is an industrial conglomerate with positions in petrochemical companies and others.

Sources
Icis, 01.03.2020
Ahgz, 01.03.2020
Duan Xiaoyu (picture), 01.03.2020

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During the summer of 2019/20, Australia faced devastating wildfires that also destroyed the local energy infrastructure. Now, the single family office of tech billionaire Mike Cannon-Brookes and Annie Cannon-Brookes launched “The Resilient Energy Collective” to support affected towns.

Building solar and battery solutions to recover energy supply

The Resilient Energy Collective builds solar and battery systems for communities in need: hundreds of towns are currently running diesel generators and face difficulties resuming normal service. The systems of the Resilient Energy Collective can be deployed within a day, are clean and resilient. The solar systems are provided by 5B, the included battery systems by Tesla. First sites are installed in Cobargo (New South Wales) and Goongerah (Victoria). The Cobargo site supplies power for radio towers, thereby saving volunteers time from refueling diesel generators. The system in Goongerah supplies the Goongerah Community Hall which is now used by locals for relief services, internet, refrigeration and more.

Cannon-Brookes family office funding operations of the collective

The single family office of Mike & Annie Cannon-Brookes is the main sponsor of the Resilient Energy Collective. “In the future, we see a world in which many remote communities operate on solar power, off-the-grid. It will be more stable, more resilient and less prone to damage,” Cannon-Brookes commented on the work of the venture. Cannon-Brookes is the co-founder and CEO of Australian software company Atlassian. His net worth is estimated to be around $8.5BN. The Cannon-Brookes family office – Grok Ventures – invests in technology companies, with a focus on energy and food businesses.

Sources
EcoGeneration, 24.02.2020
American Public Power Association (picture), 24.02.2020

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Adarza BioSystems is a biotech startup from St. Louis that is working on an automated biological testing platform. Now, the startup received a $25M Series D funding round. One of the main investors is the also St. Louis-based single family office Lightchain Capital LLC.

Developing automated biological testing platforms

Since its launch in 2008, Adarza has developed an innovative biosensor assays and instruments for pharma companies and research purposes. Through Adarza’s solution, customers can analyze fluid sambles without difficulat proccesing steps. Thereby, the analysis through Adarza’s platform is faster and easier than usual procedures – and can add significant value to pharma companies. Through the now raised funds, the company wants to support the full commercialization of its platform (called ZIVA). In 2018, the company moved to a new facility in the Pageview Business Center in St. Louis West Country suburb Maryland Heights.

St. Louis Single Family Office Lightchain Capital LLC

The recent $25M funding round was announced on Feb 4, 2020. Venture capital firm 3×5 Partners led the round together with Lightchain Capital LLC, the single family office of Rodger Riney. Rodger Riney is the founder of Scottrade. His net worth is estimated at $3.6BN,his single family office lightchain actively invests in biotech startups. The total funding until today raised through the round to $54M.

Sources
Adarza BioSystems, 5.02.2020
Tuce, 5.02.2020

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Everybody knows the prestigious consulting firm McKinsey, but hardly anyone knows the powerful McKinsey family office MIO Partners (McKinsey Investment Office). MIO manages pension plan investments in the amount of more than $9.5BN for current and former partners. If you’re looking for more family offices in the U.S. check our list of single offices in the United States.

Family Office for former McKinsey executives

More than 100 investment professionals are managing the pension plans of McKinsey partners. MIO is divided in a investment management and advisory team. The investment management team deals with pensions and investment products of independent third-party fund managers. According to MIO, the firm invests on a “blind trust” basis, meaning that partners don’t know their actual holdings, thereby avoiding a conflict of interest, while experts in a Financial Times article claim the contrary. The MIO Partners advisory team deals with financial advice and wealth management topics.

Secret investments, high returns

A McKinsey partner must have a net worth above $1M to invest in MIO Partners. When it comes to investments, the firm trusts leading hedge funds and sometimes also engages in direct investments (like “National Bank Holdings”). According to Financial Times, MIO Partners has earned hundreds of millions of dollars for McKinsey partners and achieved superior returns. On the other hand, Institutional Investor also reports in an article from July 2019 about some bad investments of MIO: for example, the firm lost $90M in an investment in the “New Stream” hedge fund – and even more through thorwing “good money after bad money” in the subsequent years.

Sources
Financial Times (30.07.2019)
Institutional Investor (30.07.2019)
Mike C. Valdivia (30.07.2019)

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