NEWS AND INSIGHTS FROM FINTRX
With the help of FINTRX, the leading family office & registered investment advisor data & research platform, asset-raising professionals can now identify suitable prospects across 3,600+ family offices and 38,000+ RIA firms worldwide. In utilizing our advanced search filters, we have identified five family offices with 5B+ in assets under management (AUM). Continue reading for a deep dive into each group...
Established in 2016, Excession (Elon Musk Family Office) is an Austin, TX-based single-family office managing the wealth of Elon Musk and his family. Musk is an entrepreneur, investor and founder of SpaceX, The Boring Company and co-founder of Neuralink and OpenAI. In 1995, Musk received a bachelor's degree in economics and physics from the University of Pennsylvania. According to both Bloomberg Billionaires Index and Forbes, Musk is the wealthiest person in the world.
Musk co-founded the web software company, Zip2, with his brother before it was acquired by Compaq for $307M in 1999. One year later, Musk co-founded an online banking company, X.com, which later merged with Confinity to form PayPal in 2000. In 2002, PayPal was acquired by eBay for $1.5B. In 2004, Musk joined electric vehicle manufacturer Tesla Motors, Inc. as Chairman and Product Architect before becoming CEO in 2008.
Musk remains active in his philanthropic work, having established the Musk Foundation to support four main areas: Renewable Energy Research; Human Space Exploration; Pediatric Research; and Science & Engineering Education. Additionally, Musk established the XPrize Foundation, a global leader in solving the world's greatest challenges through its large-scale incentivized prize competitions that create impact in five areas: Learning; Exploration; Energy & Environment; Global Development; and Life Sciences. Its mission is to bring about radical breakthroughs for the benefit of humanity.
Today, Excession invests across private equity and real estate via direct transactions. The firm takes a geographic agnostic approach to its deal sourcing, which allows the group to consider a range of investment opportunities. Excession remains industry agnostic but historically favors industries including renewable energy, aeronautics, space & missile defense, electric automotive manufacturing, cryptocurrency and infrastructure, among others. Regarding its real estate investing, the group has previously held multimillion-dollar assets in and around the Los Angeles, CA area. Excession operates under a low profile with no website and limited information regarding investment activity.
Established in 1985, Glazer Properties (Kevin Glazer Family Office) is a Rochester, NY-based single-family office managing the wealth of Kevin Glazer and his family. Glazer is a private investor and businessman, best known for his co-ownership of the Tampa Bay Buccaneers and Manchester United Football Club. In addition, he is an industry leader in the ownership, acquisition, management and leasing of commercial real estate. Having served as Glazer properties' CEO since its founding, he has been a staple in the industry for decades. Regarding his philanthropic work, Glazer supports several causes and organizations including The Wounded Warrior Project, American Red Cross, Unicef, Best Buddies, and The Salvation Army, among others.
Today, Glazer Properties invests primarily in real estate via direct investments. The group takes a targeted approach to its investment sourcing, historically focusing its efforts on North America but will consider a larger scale selectly. Glazer Properties acquires and develops a range of real estate including retail shopping centers, offices and apartment buildings. Since the firm's founding, Glazer has proven itself as a generational investor, using several transaction structures including all cash, debt assumption, distressed and note purchases. Its small size allows for quick turnaround times and timely deal closures.
Prime portfolio targets in the retail space include core, core plus & value-add, multi-tenant, unanchored, shadow-anchored and grocery-anchored properties. Target office locations primarily include suburban and central business locations with great accessibility to major transportation and amenities. Glazer Properties does not limit itself to any maximum deal size and will consider any on a select basis.
Founded in 2009, The Cathy Family Office is an Atlanta, GA-based single-family office managing the wealth of the decedents of Samuel Truett Cathy and their families. The late S. Truett Cathy was an American businessman, investor, author and philanthropist who founded the fast food chain Chick-fil-A in 1946. Cathy founded the first Chick-fil-A restaurant chain in the Atlanta suburb of Hapeville with a restaurant called the Dwarf Grill. From there, he would create the chicken sandwich that later became the signature menu item for Chick-fil-A. Cathy was active in his philanthropic efforts, founding the Leadership Scholarship Program for Chick-fil-A restaurant employees, which has awarded millions in $1,000 grants over the past 35 years. Cathy also established the WinShape Foundation, named for its mission to 'shape winners'. In 2008, he received the William E. Simon Prize for Philanthropic Leadership and the President's Call to Service Award.
The Cathy Family Office provides the Cathy family with a variety of services that include estate planning, administration, financial planning, income & estate tax, privation foundation governance, real estate & investment management and risk management, among others. The firm takes a truly agnostic approach to its deal sourcing.
The Cathy Family Office invests across a range of asset classes including public and private equity, funds, real estate and direct investments in private companies. Cathy Family Office seeks to partner with entrepreneurs who share the firm's values and display significant future growth prospects. The group's single-source capital provides for consistent and long-term investments with no stringent deal mandates. The Cathy Family office has formed a special team, known as the Dream Team, responsible for delivering a comprehensive plan for Chick-fil-A to remain privately owned by the Cathy Family for many generations to come.
Established in 2017, Aglaé Ventures is a Paris, France-based single-family office managing the wealth of Bernard Arnault and his family. The firm serves as the principal investment vehicle of Financière Agache, a holding company controlled by the Agache company. Arnault is a French businessman, private investor, art collector and entrepreneur, and serves as the Chairman and Chief Executive of LVMH Moët Hennessy -- Louis Vuitton SE, the world's largest luxury goods company. Early in his career, Arnault was president at Ferret-Savinel from 1978 to 1984 before acquiring Financière Agache, a luxury goods company. Through many reorganizational restructurings and layoffs, he ultimately turned the company into a profitable giant with earnings of $112M and sales of $1.9B in 1987.
Arnault spearheaded multiple other acquisitions, buyouts and takeovers that included LVMH, Tiffany & Co., Bulgari, Christian Dior and more. He also has an extensive art collection that includes work by Picasso, Yves Klein, Henry Moore and Andy Warhol. In 2006, Arnault started the building project of the Louis Vuitton Foundation, dedicated to the creation of contemporary art.
Today, Aglaé Ventures invests primarily in private equity and venture capital via direct investments. The firm has historically sought new investment opportunities on a global scale but has favored the United States and France regarding its venture-stage investing. Aglaé seeks to partner with fast-growing technology companies based on internal data and historical industry traction. The firm is sector agnostic but typically focuses on asset-light and well-defined business models with high potential for scalability. Prime targets often operate as marketplaces, SaaS, open-source, content platforms, consumer apps and digitally native vertical brands.
Aglaé Ventures typically acts as a lead investor or minority partner in companies across all stages, from Seed to Pre-IPO. For companies in the Seed to Series A rounds, check sizes often range from $100k to $10M and operate in the U.S. and France. For companies in Series B through Pre-IPO, check sizes range from $10M to $100M and are sourced on a global scale. Aglaé seeks to partner with companies with global ambitions and savvy management teams whose values align with theirs.
Aglaé takes a long-term investment approach; the firm's single-source allows for flexible and consistent capital with quick decision-making with no complex terms. Aglaé provides access to an experienced team of investors and entrepreneurs equipped with decades of industry experience. The firm has additional office locations in New York, Paris and San Francisco.
Founded in 2015, Seatankers (John Fredriksen Family Office) is a Limassol, Cyprus-based single-family office and holding company managing the wealth of John Fredriksen and his family. Fredriksen is a Norwegian-born oil tanker, shipping billionaire, and owner of the world's largest oil tanker fleet. Frederiksen first got into oil trading in the 1960s in Beirut, Lebanon before buying his first tanker in the 70s. Regarding his philanthropic work, Fredriksen supports projects at The Radium Hospital and donates hundreds of millions to Norwegian hospitals for medical research. Besides asset management, the firm provides a suite of services to assist the family in protecting their generational wealth and taking advantage of emerging business opportunities.
Today, Seatankers invests across multiple asset classes including private equity and real estate via direct transactions. The firm takes a geographic agnostic approach to its deal sourcing but historically prefers European and Middle Eastern investment opportunities. The group remains industry agnostic but typically finds interest in the shipping, transportation, fishing, real estate and financial spaces. Its single-source capital provides for consistent long-term investment horizons with no stringent deal mandates. Seatankers' research team performs due diligence in-house and brings an extensive experience in hedge fund management to the table.
FINTRX provides comprehensive data intelligence on 850,000+ family office & investment advisor records, each designed to help you identify, access and map the private wealth ecosystem. Explore in-depth dossiers on each family office & investment advisor. Access AUM, source of wealth, investment criteria, previous investment history, sectors & industries of interest, and advisor growth signals, among other key data points.
August 02, 2022
Renae Hatcher is a member of the marketing team at FINTRX - focused on delivering targeted & relevant family office and registered investment advisor content to our subscribers.