Wealthy families are trying something new – ditching the secrecy
There’s a new breed of private investment vehicle for the super rich. And they’re less interested in managing money out of view than making more of it.
It was in a closed-door meeting at LGT Crestone that Judy Anderson-Firth realised how much of a generation gap there was in the world of family offices, the investment vehicles established by some of the country’s wealthiest people.
Anderson-Firth, the chief executive of Dominic Pym’s Euphemia family office, was explaining to the meeting at LGT Crestone how the vehicle invested. Pym had made his fortune founding and selling payments platform Pin and digital bank Up. Now he wanted to take that money and invest more broadly.
Primrose RiordanAssociate editorPrimrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
