familyoffices News & Analysis
2 articles
Market Mood
Kevin Warsh's Wealth Tied to $100M Regulatory Carveout Benefits
Kevin Warsh, the nominee for Chair of the Federal Reserve, reportedly has a fortune exceeding $100 million, with over $50 million in each of two stakes in the Juggernaut Fund managed by Duquesne Family Office. This financial arrangement highlights a regulatory carveout allowing certain family office executives to invest alongside the wealthy families they manage assets for. Warsh's financial disclosures emphasize the benefits of this structure, which is backed by SEC rules allowing key employees to co-invest without being classified as investment advisors. This evolution in compensation structures for family office employees resembles private equity models, indicating a shift in how wealth management operates.
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Family Offices Invest $100M in Northern California Real Estate Amid High Rates
Family offices have invested approximately $100 million in Northern California real estate over the past six months, capitalizing on reduced prices as the broader market experiences a slowdown. Travis King, CEO of Realm, noted a specific purchase of an office property in San Francisco for about 21% of its last trading price. Additionally, Declaration Partners raised $303 million in October for its second real estate fund and recently secured a $50.1 million master lease in New York City's SoHo. These moves indicate a strategic shift among ultra-wealthy investors, who are taking advantage of perceived low valuations during uncertain economic times.
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