"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition."
"Imagine that in order to have a great life you have to cross a dangerous jungle. You can stay safe where you are and have an ordinary life, or you can risk crossing the jungle to have a terrific life. How would you approach that choice? Take a moment to think about it because it is the sort of choice that, in one form or another, we all have to make.”
Ray Dalio, Principles: Life and Work
PRIVOS CAPITAL - A GLOBAL MULTI-FAMILY OFFICE
Privos Capital is a global multi-family office LP (MFO). As a leading international multi-family office, we have the privilege of working with our single family office partners, multi-family offices, sovereign and royal families, their funds, foundations, and world-wide portfolio companies in leading U.S., UK, European, Middle East, and Asian financial centers, as well as in the BRICS, N-11, and Frontier Countries of the Emerging Markets.
As a multi-family office, our main business is working with our international family office LP partners on a wide range of highly complex, high-profile and confidential global expansionist activities, capital allocations, and world-wide investments, including strategic partnerships, alliances, joint ventures, direct investments, and co-investments. As principle investors, we work with our family office LP partners across all sectors and strategies and tailor, design and execute bespoke proprietary allocations and financing solutions to help our family office partners achieve the important strategic goals of their family office, their funds, portfolio companies, and world-wide holdings.
As a firm, our multi-family office investment approach focuses on long-term performance by fully integrating sustainability analysis into our decision-making at every step in the process. Our investment process incorporates conventional measures with broader sustainability.
Privos is an independent and privately held firm. We work with our family office partners (SFO, MFO, HNWI, UHNWI) up and down the capital stack as allocators of capital across diverse asset classes, including private equity, secondaries, hedge funds, venture capital, fixed income, real estate, and commodities. We partner with world-class pioneers in their fields who have created great wealth and, in turn, global family offices.
We are active in most sectors and industries in which our family office partners have created substantial wealth and built global portfolio companies, including real estate, art, fashion, entertainment, film, new media, gaming, technology, life sciences, biotech, health care, aviation, sustainable energy, wind, solar, LNG, maritime, shipping, fashion, energy, paper, power, telecommunications, consumer products, infrastructure, manufacturing, industrial, pharmaceuticals, and financial services.
Based in New York, our firm is second to none in the multi-family office world. In Los Angeles, we focus on film finance, entertainment, new media, and gaming. In Silicon Valley, we are involved with our well known family office partners in venture capital, secondaries, private equity, alternative energy, machine learning, AI, early stage investing and technology. Our Mayfair office in London serves our central meeting hub for our Arab and European family office partners with a focus on fintech, real estate, and alternative investments. In Hong Kong, we work with our Chinese, Japanese, and Asian family office partners and tycoons on global inbound and outbound investments. In the Middle East and MENA region, we partner with pro-western, Arab family office LPs throughout the GCC, including in Qatar, Kuwait, Bahrain, Saudi, Oman, and the UAE. In Geneva, we work with our family office partners and leading Swiss private client, wealth and asset management firms who help preserve family office capital for the long term.
To further understand the work we do at Privos, the words of our firm warrior COO and Managing Director, a West Point, Stanford, Wharton MBA, Gulf War Desert Storm Apache attack pilot, GE Capital alum, and current Colonel in the US Army Reserves, who explained: "Privos Capital is the equivalent of the US Navy's SEAL Team 6 for our family office partners around the world. Our family office partners come to us because they want our want our team in their foxhole when all hell is breaking loose in their family office and they need a loyal go-fast capital partner and real leaders to get the job done." As a firm, we salute those soldiers and military warriors around the world - whatever nationality - who are fighting for freedom and to make the world a better, safer place. Our firm supports veterans around the world, retired soldiers from our NATO allies and other pro-Western veterans who have transitioned from the battlefield into business and the family office world. We are here to help you.
As an international multi-family office LP investor, our main business is working with our family office partners on all aspects of their global expansionist activities and capital allocations by entering into strategic alliances, joint ventures, co-investments, direct investments, and club deals with other family offices and sovereign royal families around the world. We work with family office owned and private equity backed family office portfolio firms, hedge funds, secondaries, and asset managers to expand global family office relationships and to execute innovative and customized solutions to a family office's most pressing challenges. We are experts at helping family offices scale and exit their world wide portfolio companies often to private equity GPs who view family offices as one of the last frontiers of world-class, propriety deal flow.
As a multi-family office, we allocate capital to private equity, hedge fund, fund of funds, private equity secondaries, in addition to direct investments, co-investments, equities, fixed income, real estate, commodities, philanthropy, impact investments, the 17 SDGs, and other global opportunities. We invest in alternative assets beyond typical equity and debt securities, such as artwork, classic cars, litigation funding, wine, diamonds, gems, and rare musical instruments. By choice, we do not manage money or third party capital, nor do we ever sell or hawk investment funds or financial products. For example, we will never use important socially responsible investing, impact investing, ESG or the 17 SDGs as a bogus "sales tool" to hustle family offices into under performing wealth management investment products under the guise of "making the world a better place." We will never tell one of our family office partners that they should come into some subpar fund while the manager snub their nose at our family's preference for a managed account. You will never ever hear our firm selling you on an open architecture platform or whatever generates the most fees for investment managers because we are smart enough not to sell investment products to our family office partners; it is not our business, fortunately. Rather, as an international multi-family office, our firm has a long history of allocating capital and closing high profile international family office transactions by building upon the successful track record and respect that we command in the market.
As a multi-family office, Privos is under no pressure to deliver results in any particular period for the public markets, which means that our people are free to provide unbiased, independent advice and stand by our family office partners in good times and bad. We have developed unique proprietary understanding of each of our family office partners around the world and take a long-term view to build a true partnership with them. We have a deep track record of delivering results to the world's most complex, private, and complicated family offices of royal families, billionaires, and Asian tycoons. For instance, one of our family office partners has over 187 different trusts from which they manage their world-wide investments and global portfolio companies, and they rely on our People to help allocate capital and help advise on complicated international businesses out of those numerous private trust vehicles.
Our multi-family office has built a successful track record in working with family offices from Wall Street to Sand Hill Road ("Wall St. West"). We know the difference and how to navigate successfully in both Dubai's DFIC and Doha's QFC in Qatar, how to engage successfully with leading Swiss wealth managers, and how to partner with leading family office tycoons in Hong Kong and Beijing. We can talk with you intelligently about whatever is on your mind - global fashion, the 17 SDGs, private equity secondaries, the so-called "Black hole of China," long short equities, Hollywood, Brexit, the Trump Trade, what hedge fund is blowing up, your wine fund, the US as the "New Switzerland," how to exit your portfolio in Africa, why private equity GPs sub $5B are in panic mode, Exeter v. Andover, how you almost killed yourself skiing down the Swiss Wall at Avoriaz, ways to get your fund seeded in this market, why $45B of wealth assets flew out of Lugano alone after the Americans wrecked havoc on the Swiss wealth market, or how to work with and motivate Millennials. Whatever is on your mind as a family office, we can relate, have probably been there, and may be helpful. So don't be shy, email us at firstname.lastname@example.org, or call us the old-fashioned way (by phone - which still exists by the way), and we promise that we always will get back to you the same day that you reach out to us. We may not be able to help you slay your dragons or cure what ails you, but we will always be friendly, helpful, and try to steer you in the right direction as fellow investors and allocators.
Our Firm Today
As a multi-family office, our family office partners run successful private equity firms, secondaries, sovereign wealth funds, hedge funds, fund of funds, real estate funds, venture capital firms, wealth and asset management firms, foundations, endowments, multi-national corporations, early stage venture firms, foundations, global and local businesses.
Our family office partners own international corporations, including national airlines, global shipping companies, African mining companies, Hollywood studios, Australian junior mines, US real estate funds, Hong Kong global businesses, US private equity secondary funds, Argentinian vineyards, Canadian oil sands energy companies, London property companies, and Arab surgical centers and hospitals. We bring an impressive club of world wide influence, business experience, and wealth. Our partners are both LPs and GPs mixing it up on the world stage. To work with our firm, you must a family office passionately engaged in changing the world.
Our People have deep experience helping family offices turn highly complex and confidential financial problems into opportunities and successful liquidity events, whether from an IPO or successful trade sale. We are experts in working with the Next Generation, Millennial ("NextGen") family office investors and family members who embrace ESG, SRI and sustainable investments.
At Privos, our senior leadership is comprised of experienced, seasoned international finance executives with world-wide influence and access.
Our CEO has lived and worked in the U.S., Europe, and the Middle East; he is the trusted partner to a global "Who's Who" list of leading international family office LPs, a thought leader, and frequent speaker at international investor, family office, hedge fund, and private equity conferences. He currently serves a senior advisor to one of the largest sovereign wealth funds in the world and a leading US private equity firm.
Our CEO has been featured and quoted extensively in the media, from Bloomberg.com to USA Today. You may have seen him on stage speaking at leading international investor, private equity, hedge fund, wealth management, and family office conferences, including in New York City at the Harvard Club, at the Four Season Hotel in Hong Kong at AVCJ private equity conference, at IvyFon New York City, in Latin America at the Markets Group Panama wealth conference, in Amsterdam at the Opal European Family Office Conference, in Singapore at the INSEAD Global Family Office Conference in Singapore, the IMN Global Real Estate Conference in New York City, as well the Wilson Conferences, Opal, IMN, PAM, IMN, Sustainatopia, Capital Roundtable, and other leading investor conferences world-wide. Our CEO guides our global firm, creates opportunities for our family office partners, and helps our people delivers results every day for those of us at the firm.
Equally impressive, our CFO is a University of Chicago MBA, ex-Citibank, Ford, Bear Sterns, Standard Oil (BP) senior finance executive who took a REIT public on the NYSE and served as a public company CFO. Our COO is a Wharton MBA, West Point grad, flew Apaches in Desert Storm, holds a masters from Stanford University in astronautical engineering, served as former Managing Director at GE Capital and is currently Colonel in the US Army Reserves. Our MD and Head of Europe is a former leading investment banker and Vodafone executive based in Stockholm, Sweden. Our MD and Head of Private Equity is a South African native, Wharton MBA, and former head of the New York office of a leading European private equity firm. The head of our London office is an Oxford University and Columbia Business School MBA who, prior to joining our firm, worked for years at the World Bank / IFC before relocating to Singapore where he helped run investments for one of the leading tycoons in Asia before returning to London. Our MD and Head of Impact Investing is a Yale alum, Harvard Business School Baker Scholar (Top 1% of his class at HBS), former IBM executive and ex-head of a public private partnership (P3) formed between the German Development Bank (KWF), the United Nations and other leading DFIs.
At Privos, we have two medical doctors, both practicing surgeons, who head up our health care and life science investments for our firm. First, our Chief Medical Officer (CMO) is a current Professor of Medicine at Harvard Medical School, leading surgeon, and graduate of Yale Medical School; he is joined by the second physician and surgeon at our firm who works with The World Health Organization and was one only surgeons in the world who had the courage to travel to Sierra Leone to operate on patients during the recent outbreak of Ebola. Our medical team at Privos works globally with our family offices to deliver results for our LP partners investing capital in the life sciences, biotech, and health care sectors.
Collectively, our people and our family office partners have experience working in all leading global financial centers from London to Hong Kong, New York to Singapore. We are active across most sectors, including financial services, banking, energy, fashion, art, water, oil and gas, alternative energy (solar, wind, geothermal, biofuel, hydroelectric), food, agriculture, mining, biotech, timber, defense, social media, healthcare, biotech, life science, medical devices, high tech, digital media, new media, real estate, hotels, internet, pharmaceuticals, telecommunications, shipping, ship finance, private aviation (including charter jet and aircraft leasing), logistics, retailing, project finance, art, gaming, infrastructure, litigation funding, and transportation. In Los Angeles, we focus on film financing, entertainment, gaming, and new media; our people have deep Hollywood experience and access second to none in the family office world. We refer you to the Entertainment section of our website for more information about our family office work in Hollywood.
Examples of Our Work: The Global Financial Crisis:
Our people are experts in international business and crisis management for our family office partners. By way of example, during the Global Financial Crisis (GFC) from 2007 to 2009, our people stood by our family office partners when wealth managers, fund managers, and bankers were literally running for the hills, trying to save their own pensions, and simply not returning calls from our family offices.
During the global financial meltdown we witnessed, first hand, our family office partners, with billions of AUM, with their telephone calls not being returned by the financial elite who courted them for decades. True story: one leading wealth manager MD from a global asset management firm who had been to five weddings of one of our family office partners in the Middle East, simply unplugged his work phone, turned off his cell phone, and didn't return calls for over a week while our family's assets plummeted. For all you young people reading this site who only have a fuzzy or vague relocation of the Global Financial Crisis ("GFC") - these nightmare "no call backs" actually happened - yet our firm was there to hold down the fort for our family office LP partners. During this horrific time in our capital markets, our people did not flee but instead buckled down for an extreme mission of saving thousands of family office jobs as well as family office owned businesses, funds, and portfolio companies world-wide from disaster, led by our CFO, a fearless and hardened University of Chicago MBA and senior finance executive with over 40+ years of experience in the trenches at Standard Oil (BP), Ford Credit, Citibank, and as the CFO of a NYSE listed REIT.
In one specific instance during the crisis, one of our single family office partners contacted us with literally only days to spare before a certain bankruptcy filing caused by questionable financial decisions and advisors made years before we became involved with the family. A leading London PR firm had just been retained by the family office to handle the adverse media fallout and certain embarrassment to the entire extended family office globally, including siblings, spouses, children, grandchildren, vendors, and supply chain partners. Working around the clock in multiple time zones, our Privos team of seasoned professionals managed the crisis, helped our family partner avoid bankruptcy, and went onto to restructured the company and bring in a new capital partner going forward. The end result of our work was that our people wer successful in helping save over 4000 jobs alone just one of the family office's dozen of portfolio companies. Today, with bankruptcy avoided, the family office reputation is intact, creditors are paid off, and our partner's portfolio company is getting ready for a trade sale at a heightened valuation. Now, the sole stress on our family office partner is how handle the new liquidity event from the upcoming exit and to determine how the family should redeploy and invest their new capital for future generations (which is a nice problem to have). That is just one example of the world class work we do for our family office partners who we stand by in good times and times of crisis.
Today, the Global Financial Crisis has long been forgotten, but our family office partner will never forgot that it was our firm and our people who stayed with them awake 24/7 in the foxhole when Rome was burning and the family's wealth managers, bankers, lawyers, advisors, and fund managers were running for the proverbial hills, not returning our partner's calls. This is the quiet work that our people do under the radar, privately, without fanfare, for our family office partners in good times and bad.
Privos is a truly global firm with far reaching international experience. We stand apart in the family office world when it comes to conducting international family office commerce, solving problems for our family office partners, and getting deals done. Simply put, you will not find a multi-family office team with greater global experience and a more success full track record. For information about track record and bios on our people, please contact us. Our family office LP partners are leading names whose security details require that we not post a detailed list of our people and our CVs on a public site, but we are happy to send you information on our firm and the CVs of our people under separate cover.
Emerging Markets Focus
The economies of the Emerging Markets enjoy today a $9 trillion market capitalization. In the past five years, the value of family office funds, foundations, and private companies in emerging economies - including Brazil, Russia, India, China, South Africa (BRICS), as well as the 37 countries that make up the S&P definition of Frontier Markets, have exploded.
In the Emerging Markets, during the mid-2000s, a rising tide of liquidity was flowing out of the U.S. and Europe, and family office portfolio companies saw record stock market prices. Then came the credit crisis, investors refocused on profitability, and capital flows shifted from energy, commodities, raw materials into technology. Today, family offices in Emerging Markets and Frontier Markets are looking for liquidity and long term capital partnerships to help grow their portfolio companies, funds, and core holdings. From Brexit to the flight of capital out of China, family offices are looking for a multi-family office that understand how to navigate today's capital markets and get deals done. Global family offices turn to Privos to help them source and partner with the right family office around the world.
SI, ESG, SDG, and Impact Investments
Family offices have traditionally viewed the incorporation of Sustainable Investing (SI), Impact investing, ESG factors and the 17 SDGs in their investment analysis as "common sense." Environmental disasters, corporate governance oversights, lack of accountability, and basic human rights not only affect a company's bottom line; they have huge reputation risks. Most of our family office partners that have built their own substantial global businesses and funds have embraced sustainability practices for decades, long before ESG or the SDGs became part of the current vernacular. We refer you to our SDG section of this site to learn more about our firm's SDG, ESG, SRI, impact and sustainable investments, which are a core focus and guiding principle at our firm. At Privos, our people are leaders in this growing field for global family office.
Privos Capital is a truly independent and privately held global multi-family office. We are not affiliated with any bank, financial institution, or investment fund, nor do we manage money, sell or market securities or investment products. We do not offer placement agent, third party marketing, investment banking, tax, accounting, back office, concierge, or legal services to our family office partners; however, we are more than happy to refer you to leading firms that can offer your family office help with these types of important and mission critical services.
Because Privos does not do not manage wealth, third party capital or money for our clients, nor sell financial products or funds, nor do we act as third party marketers, placement agents or investment bankers for our family office partners, we are free from the conflicts of interest that have plagued the financial services industry following the global credit crisis. At the end of the day, we are smart world-class global professionals who are fiercely loyal to our family office partners who we stand by in good times and bad.
The Chinese idiom, “Fu Bu Goo San Da" (富不过三代), translates into “the wealth of a family never lasts for more than three generations.” At Privos Capital, our mission is to help family offices expand globally and partner with other leading family offices around the world, create new jobs, global business opportunities, and wealth for many years to come.
Privos in the News (Recent Media Coverage)