Even though the recent times of uncertainty caused by the circumstances of the presidential election and Covid-19 make it quite difficult for single family offices to realize satisfying returns on their portfolios, the investment offices of the richest private individuals are keeping their game of investing strong. So are we, the research team of familyofficehub. We just released our update on the database of the largest single family offices in the United States. Round about 35 new investment offices made it to our list, bringing the total number of entries to over 400. With this article we want to present you three of these new adds.

The mentioned family offices are all part of our list of the largest single family offices in the United States

  • 402 entries, thereof 255 with E-Mail address, 388 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…
  • Free updates within one year included, secure payment through PayPal or Credit Card, 24/7 support through live chat and mail

#1: The Straus Group, Fort Lee (New Jersey)

The Straus Group serves as the private investment company of Daniel E. Straus, an American business executive, entrepreneur, venture capitalist, real estate developer and philanthropist. He made most of his money through the successful founding of several health care companies such as CareOne and InnovaCare Health. In addition, he is also the vice chairman of the Memphis Grizzlies. His career in the health care industry started in 1984, when he quit his job at a law company to co-found Multicare Companies Inc. together with his brother. The firm then operated four nursing homes that the two brothers inherited from their father. Under the direction of the brothers the company became very successful and was sold to Genesis Health Ventures in 1997 for $1.06 billion. The single family office of Daniel E. Straus, the Straus Group, is mainly active in three areas: real estate, private equity and capital markets (hedge funds). Their private equity portfolio, for example, contains the company “Pharmapacks”. The firm provides an online distribution platform for wellness products. More than 20,000 articles are currently listed for sale (medicines, nutrition products, home medical equipment, health and beauty products, hair care products, makeup, household supplies, fragrances, lipstick and more).

#2: Meyer Family Enterprises, Oakville (California)

The Meyer Family Enterprises take care of the financial well-being of Bonny Meyer. What’s important to notice about this special single family office is the fact that only 100% impact investments are targeted. Bonny Meyer and her family built the fortune mainly through Silver Oak Cellars, a world-class producer of Cabernet Sauvignon wine. The company was founded in 1972 by Ray Duncan and Justin Meyer (Bonny’s late husband). Silver Oak today has two wineries; one in Oakville in the Napa Valley and one in Healdsburg in the Alexander Valley. As stated before, Bonny Meyer is committed to a 100% impact investment portfolio, which has evolved over the past fifteen years. This journey began with a few direct investments and has grown into a broad portfolio of individual companies, real estate, and managed funds. A strategic philanthropist, Bonny targets programs that empower at risk adolescents and adults. When looking for new investment opportunities, Meyer Family Enterprises focus businesses active in the fields of education and financial opportunity for underserved communities, renewable energy, regenerative food and agriculture, and sustainable real estate development.

#3: McKinney Capital, Birmingham (Alabama)

McKinney Capital acts as the private investment arm of the McKinney Family of Vestavia Hills, Alabama. The single family office makes control investments (mainly private equity) in field services and related companies in the Southern United States and makes non-control investments (venture capital) more broadly in companies where the investment team has “special insight” into the people or industries involved.  In general, non-control investments are between $1 million and $3 million, and they prefer to co-invest with like minded families and companies. One exemplary investment of the private equity portfolio is Landscape Workshop, the largest landscape and grounds management company in Alabama. The company provides services for commercial, municipal and residential projects including retail centers, campuses and sports and office parks. Fledging is part of the venture capital portfolio. The firm produces premium electronic products (e.g. SSD storage drives for Apple devices, extremely fast external storage devices, external all-in-one hubs for iPads)

Picture source: Jan Senderek

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Mahindra Partners – the single family office of the Mahindra family – has invested an undisclosed amount on Series A in the indian edtech startup AhaGuru to help it expand internationally and further product development.

According to the press release from the company, the funds raised will be used to further its expansion across India and other regions such as the Middle East, and also to develop new technology features such as AI-powered tools to personalize and improve the learning experience; produce more online courses and to hire more teachers and mentors. By increasing both product variety and active markets, the company aims to grow sharply its user base and capture the rising demand the coronavirus crisis is generating.

Founded by Dr Balaji Sampath and Gomathi Shanmugasundaram in 2012, AhaGuru provides science and math education for middle and high-school students preparing for their board and competitive exams. Its own research-backed learning techniques to improve concept understanding and problem-solving abilities have enabled their students to experience great results so far and it’s the reason why its growth has been mostly organic.

AhaGuru: Active in the booming EdTech sector

The Edtech ecosystem is experiencing an unprecedented boom due to Covid-19 crisis and the lockdown is imposing, which requires digitizing the education system. Many startups on the sector such as Byju’s, Eruditus, Vedantu, and Toppr, among others, have also raised millions in funds and even closed acquisition deals, such as Byju’s on his $300 M deal for WhiteHat Jr. this August. The competition on the market is growing exponentially but so it is the user base, so the expected economic potential of the sector is set very high.

Mahindra Family Office: Important Indian investment firm

Mahindra Partners belongs to the Mahindra & Mahindra’s president’s family. Founded in 2009, has investment positions in 16 companies, mainly in India. Its current portfolio is focused on renewables, industrials, healthcare, consumer retail and technology companies.

With this investment deal, the company gets into a new and emerging sector with growth potential worldwide, with a clear impact on society’s future and a secured demand, looking this way to get on board early on in a unicorn-to-be company that will become a leader in its field, while also helping to democratize access to education.

 

Source: VCCircle, 22.10.2020
Picture Source: Unsplash

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Soon, a new bank will launch in the United Kingdom: Recognise Financial Services plans to establish a new bank for small- and medium-sized businesses. A lead investment in the amount of £25M was done by Ruth Parasols single family office RG Advisors. That’s the largest investment since the beginning of the global COVID-19 pandemic. Parasol’s family office believes in a funding gap for SME in UK, since banks will likely shy away from the funding of new ventures after the pandemic. It is expected that the new challenger bank will receive its full banking license in the following weeks. Recognise is led by CEO Jason Oakley, who was formerly a Managing Director of Commercial Banking & Mortages at Metro Bank.

Ruth Parasol Single Family Office: RG Advisors

The lead investor, RG Advisors, is the single family office of Ruth Parasol. RG Advisors is Gibraltar-based and was founded in 2004. Parasol founded PartyGaming in 1997, which was sold to Bwin Interactive in 2010. Her net worth is estimated at £780M. Through different investment vehicles, Parasol invests in technology, real estate, private equity and other asset classes.

Source: GBC, 28.10.2020
Picture Source: Michal Mrozek

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Marinya Capital, the single family office of Australian media family Fairfax, acquired farmland in Tamworth worth $23M.

Agricultural investment in south-east Queensland

The agricultural business of the Fairfax family will be called Fairglen Farms. The purpose of the venture is to invest in “large scale agricultural businesses for the Fairfax family”. The geographical focus will lie on Australia and New Zealand. Furthermore, strategic partnerships across the agricultural supply chain will be established. The first acquisition is a 990 hectare mixed-farming property in Klroi. Another investment of Fairglen was, according to The Australian Financial Review, a 88 hectare poultry farm that was acquired for $5.45M. The Fairfax family is an active player in agriculture investments and nature conservation. Besides, the company also invests in other asset classes, funds and startups like v2foods.

Source: Australian Financial Review, 28.10.2020
Picture Source: Dan Meyers

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Marinya Capital – the single family office of the John Fairfax family – invests in the $55M (or: AU$77M) Series B funding round of plant-based meat company v2food. Marinya Capital is also in our list of the most important Australian single family offices.

v2food: Australian startup working on plant-based meat alternatives

The Australian startup v2food works on various plant-based meat alternatives. For example, v2mince is an alternative for beef mince. For burgers, the startup offers the v2burger patties. The company’s burgers are served nation-wide in Hungry Jack’s and Burger King restaurants. In 2019 V2 was first launched through a collaboration between the Australian science agency CSIRO and the innovation fund Main Sequence Ventures as well as the fast food franchise owner Competetive Foods Australia..

Fairfax Single Family Office as investor in recent $55M Series B

Now, V2 raised its recent record-breaking $55M Series B funding round. Investors include Singapore’s state fund Temasek, Sequoia Capital China, and Horizons Ventures. The funding round was the biggest in the sector in Australia yet. Another investor of the Series B was Marinya Capital – the single family office of the John Fairfax family. John B. Fairfax established Fairfax media, a leading media firm in Australia. Besides venture capital, Marinya Capital also invests in property and fund managers. Investments in plant-based startups receive more and more capital from single family offices. Another active investor in the field is the Jeremy Coller single family office CPT capital.

Source: Greenqueen, 28.10.2020
Picture Source: Rolande PG

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The single family office of WeWork founder Adam Neumann – 166 2nd LLC – invests in the Series C funding round of resident management software startup Alfred.

Resident experience startup from New York

Hello Alfred is a software platform that enables real estate owners to offer residents “an exceptional living experience by providing leading-edge technology with personalized hospitality services”. For example, rent payments can be managed through the app, maintenance requests can be handled, incoming packages can be managed, property managers and concierges can be coordinated. The company is working for large real estate investors and owners like Jamestown, Invesco or Brookfield Properties. The software is applied at more than 100,000 homes in the United States.

Neumann single family office as investor

There were various investors in Alfred’s recent $42M Series C funding round, amongst others from Spark Capital, NEA or Greystar. Adam Neumann’s single family office 166 2nd LLC is a new investor. Usually, 166 2nd LLC is primarily engaged in personal real estate transactions of Neumann. Now, the family office also engages in a venture capital deal. Neumann’s net worth is estimated between $450M and $750M. He is the founder of co-working firm WeWork, where he had to step down as CEO in 2019.

Source: Pulse2, 28.10.2020
Picture Source: Kamal Kant Kosariya

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R.O.I. GmbH is the personal investment company of Ulrich Urban. He started his career in 1982 when he worked for the Deutsche Bank as a corporate account manager. After 7 years he became self employed as a consultant. In his further development he got in touch with the real estate business and founded his single family office R.O.I GmbH in 2002. Today the main functions are: Participation and consulting in growth-oriented real estate projects, companies and start-ups, management of own and external real estate companies and serving as holding company for real estate portfolio companies in its own interest. Activities are rooted in Berlin, Thuringia and Saxony. When seeking for new investments, the company acts industry agnostic but focuses on start ups in Series A. Private equity investments focus on companies situated before a leap in growth or on turn-around situations. Investment tickets usually range from €50k to €1M. An interesting exemplary investment is moio.care. The company develops an intelligent plaster with an integrated sensor module. Inside are sophisticated sensor, evaluation and mobile radio technologies that enable a completely flexible and mobile use. “The moio” permanently processes sensor information and interprets it independently. Another portfolio company is CI-HUB GmbH which operates and develops software that uses artificial intelligence to automate the adaptation of advertising media in DAM, MAM, PIM, MRM, or CMS systems.

Key facts about R.O.I. GmbH – The Ulrich Urban Single Family Office

  • Family: Ulrich Urban
  • Location: Berlin – Germany
  • Investment Focus: Real Estate, Venture Capital: Tech, AI, Software, B2B, Healthcare, Renewables
  • Notable Investments or Holdings: CI-Hub GmbH, Moio GmbH
  • Website: http://www.roi-berlin.de/
  • Executives: Ulrich Urban

Picture source: Adam Vradenburg 

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PCS Holding looks after the assets of Swiss billionaire Peter Spuhler, who was born in 1959 in Seville (ES) and spent his school years in Zurich after his family moved to Switzerland. From 1980 to 1986, Peter Spuhler studied business administration at the University of St. Gallen, while at the same time he began his career in the Swiss army. After an internship at the Union Bank of Switzerland, Peter Spuhler joined the operational management of Stadler Fahrzeuge AG (Stadler Rail) in Bussnang in 1987. After almost two years, he took over the company with 18 employees and CHF 4.5 million in sales. Over the years, Stadler Rail has developed from a local rail vehicle manufacturer into a competitive market player with a global presence, which today generates sales of more than CHF 3.2 billion with more than 12,000 employees. Furthermore, the stock exchange listing of Stadler Rail in April 2019 was one of the biggest milestones in the company’s history. After the turn of the millennium, Peter Spuhler started to get involved in other companies. In 2006, he became majority shareholder of the Swiss Aebi company and merged it with the German company Schmidt. Furthermore, Peter Spuhler, together with Michael Pieper, restructured the crisis-stricken company Rieter. From 2012 Peter Spuhler diversified his portfolio and added three leasing companies: Estonia Train Finance, Nordic Train Finance and Austrian Train Finance. In 2018 the portfolio was also strengthened in the locomotive sector by the establishment of the European Loc Pool with Bank Reichmuth as partner. All the different investments of Peter Spuhler are organized and led through PCS Holding. Almost all portfolio companies are active in industrial manufacturing and transport sectors, with the exception of three leasing companies charged with carrying out financing and leasing transactions in the field of rail vehicles in Switzerland and abroad, particularly in Scandinavia, Estonia and Austria.

Key facts about PCS Holding – The Peter Spuhler Single Family Office

  • Family: Peter Spuhler Family
  • Estimated wealth: 2.2 billion dollars
  • Location: Frauenfeld – Switzerland
  • Investment Focus: Private Equity – Holding of Companies
  • Notable Investments or Holdings: Autoneum, Stadler Rail
  • Website: https://pcs-holding.ch/
  • Executives: Oliver Streuli

Picture source: Armelle Danjour 

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The formation of the Olsson Eriksson fortune can be traced back to 1946, when Sten Allan Olsson bought his first vessel with a loan of $3000: The shipping business started on a small scale. In the 1960s Sten started a ferry service between Gothenburg and Skagen in northern Denmark. Over the years freight services using the company’s vessels became a significant part of the business. In 1972 the business was divided into two branches: Stena Line AB and Stena Metall AB. Over the years the company expanded its activities (e.g. real estate, drilling, private equity, etc.) to secure operations. Today Stena is mainly divided into Stena AB (ferry, drilling, shipping, ship construction, real estate, private equity, treasury) and Stena Metall AB (trading steel, metals and oil; recycling of metals, paper, electronics, hazardous waste and chemicals). With revenues of $4.2 billion and 16,000 employees, the Stena AB Group is one of Sweden’s largest family-owned corporate groups. The group is owned by Dan Sten (51%), Stefan Sten (24.5%) and Madeleine Olsson Eriksson (24.5%). In 2018 Formica Capital, the single family office of the Olsson Eriksson Family, was founded. Formica is an investment company with a long-term investment perspective, driving performance under a strong sustainability agenda in both investment selection as well as in its active ownership model. Mainly mid-sized companies in the Nordic region with a strong purpose and a clear commitment to address global challenges are selected. An exemplary investment of Formica is Sierra Energy. The company is committed to innovation that leads to a zero waste future. Since 2004, Sierra Energy has focused on the development of FastOx® gasification, a technology that turns trash into energy without burning. Another excerpt of the portfolio is Orbital Systems, a company which develops an instant water recirculation system, saving water usage with up to 90% in current applications.

Key facts about the Formica Capital Single Family Office

  • Family: Olsson Eriksson
  • Estimated wealth: 6.8 billion dollars (cumulated)
  • Location: Gothenburg – Sweden
  • Investment Focus: Venture Capital, Private Equity: Mid-sized private & public companies, Impact Investing
  • Notable Investments or Holdings: cybercom, Sierra Energy
  • Website: https://www.formicacapital.se/
  • Executives: Olof Cato

Picture source: Andy Li

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The Dirk Cordes Single Family Office is related to the assets of Dirk Cordes. Dirk graduated with a diploma in economics from the University of Applied Sciences in Kiel. After graduation he worked for Mobilcom Debitel where he led the E-Commerce department. Later on, he became CEO at vitrado, a subsidiary of Freenet that markets mobile, internet and entertainment products through partner programs. In 2004 the Dirk Cordes Beteiligungsgesellschaft mbH was founded, the cornerstone of Dirk’s single family office. The family office is divided into three branches: dc Energie, dc Immobilien and dc Beteiligungen. dc Energie includes all activities of energy production through renewable energies. The focus is on the construction and operation of photovoltaic power plants. dc Immobilien manages the real estate portfolio with most of the properties being located in Kiel and the surrounding area and also engages as investor and property developer. dc Beteiligungen, the heart of the single family office, is responsible for all financial investments in companies from a wide range of industries, often as minority shareholders, which have their own management and operate autonomously on the market. An exemplary investment is Sealander GmbH. The company develops and manufactures a caravan trailer that can be used as a regular caravan on the streets, and as a boat on the water. Another investment is the Ostseesalzmanufaktur. The firm produces sea salt, which is obtained from Baltic Sea water in a craft activity. Finely filtered Baltic Sea water is traditionally boiled by hand in forged ovens over local woods and is then gently and sensitively dried.

Key facts about the Dirk Cordes Single Family Office

  • Family: Dirk Cordes Family
  • Location: Kiel – Germany
  • Investment Focus: Real Estate, Private Equity: Management Buy-Out/In
  • Notable Investments or Holdings: Kiwi Tower, Instore Audience GmbH
  • Website: https://www.dirkcordes.de/
  • Executives: Dirk Cordes, Sven Jahnke

Picture source: Chelsea Deeyo 

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