Regional Member Briefing - San Francisco - October 10, 2017

Incorporating Direct Investments in Your Portfolio: Key Considerations

Families and family offices are increasingly pursuing opportunities to bypass private equity funds and make direct investments in operating businesses or real estate.

Some of the issues to discuss include:

• The difference between direct and co-investment structures.  How are families structuring co-investing deals with other families (club deals or with a "lead").  
• What resources are required to effectively source, evaluate and manage these investments - both internal and outsourced?
• How can a family avoid the risks of adverse selection, given the amount of capital in the private markets seeking deals?
• What does success look like for these investments? What are the most common forms of failure?
• How do these investments fit into complete portfolios ? How do they fit alongside fund investments?  
• At what valuation should direct investments be held and how should they be benchmarked?
• Strategies for working with other family offices.

This session is for private investors and family offices who are currently investing - or considering investing - in direct investments.  

Kristi Kuechler and Irene Mello from FOX will lead a discussion as to how family offices are integrating direct investments into their overall portfolios.  We will be joined by John-Austin Saviano who served for the last eight years as the founding chief investment officer for UC Berkeley’s captive investment management arm, overseeing $1.8Bn of endowment assets.