Start-Up Space Update on Investment in Commercial Space Ventures
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The-Single-Family-Office-Book.Pdf
i Family Office Help Line: (212) 729-5067 THE SINGLE FAMILY OFFICE Creating, Operating & Managing Investments of a Single Family Office By Richard C. Wilson Billionaire Family Office | Family Offices Group Association ii iii Family Office Help Line: (212) 729-5067 This book is dedicated to my amazing daughters Bella & Maya Wilson. iv v Family Office Help Line: (212) 729-5067 Table of Contents Chapter Page Preface 5 Part 1: Single Family Office Fundamentals 7 Chapter 1: Introduction to Single Family Offices 9 Chapter 2: Single Family Office Talent & Teams 17 Chapter 3: Single Family Office Operations 35 Chapter 4: Single Family Office Governance 47 Part 2: Starting a Single Family Office 59 Chapter 5: Creating Your Family Compass 61 Chapter 6: Starting a Single Family Office 69 Chapter 7: Partners, Vendors, & Service Providers 87 Chapter 8: Investment Committees & Advisory Boards 93 Part 3: Single Family Office Investment Portfolios 109 Chapter 9: Family Office Investment Management 111 Chapter 10: Investment Fund Manager Selection & Monitoring 113 Chapter 11: Direct Investing & Operating Businesses 131 Chapter 12: Co-Investing & Club Deals 171 Chapter 13: Real Estate Investments and Hard Assets 191 Part 4: Single Family Office Best Practices & Models to Emulate 205 Chapter 14: $1 Billion+ Single Family Offices 207 Chapter 15: Intergenerational Money Management 227 Chapter 16: Converting from a Single Family Office into a Multi-Family Office 233 Chapter 17: Outsourced Chief Investment Officers 243 Chapter 18: Virtual Family Offices 247 Chapter 19: The Future of the Single Family Office Industry 261 vi vii Acknowledgements The Single Family Office book would not have been possible to write without the help of many smart and dedicated professionals. -
Q&A with Denmark West
SEPTEMBER 2017 V OL. 5 | ISS U E 134 R E P O R T Q&A with Denmark West. Founding Partner of Connectivity Capital Partners (“CVF”). Principle Series: Family Office Insights sits down with Denmark West, Founding Partner of Connectivity Capital Partners & CIO of Connectivity Ventures Fund, to discuss the early stage, mission-oriented fund of CVF that works to improve the human condition in the areas of health, finance, and work. Family Office Insights is a voluntary, “opt-in” collaborative peer-to-peer community of single family offices, qualified investors and institutional investors. If you care to learn more, and perhaps join the community, you are welcome to visit us here at FamilyOfficeInsights.com. P AGE 1 Q: Tell us about your background and your company, Connectivity Capital Partners. A: I started in investment banking after graduating from Harvard and focused on technology. I quickly realized I actually wanted to work inside the technology industry. So while still in my twenties, I found a role at Microsoft, where I had the opportunity to work directly with top executives including CFOs Greg Maffei and John Connors, and CEOs Bill Gates and Steve Ballmer among others. I was tasked with leading some strategic projects, ranging from Software as a Service to Open Source Software, which shape my thinking even today. I was also given the opportunity to lead internet infrastructure investments within a nascent corporate ventures effort. I led investments in Akamai (IPO), InterVU (sold to Akamai), and iBeam (IPO) among others. In 2004, Viacom recruited me to lead strategy and business development. -
Apollo Global Management Announces Conclusion and Release of Independent Review
Apollo Global Management Announces Conclusion and Release of Independent Review NEW YORK – January 25, 2021 – Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today announced that the Conflicts Committee of the Board of Directors has completed its previously announced independent review of Chairman and CEO Leon Black’s previous professional relationship with Jeffrey Epstein and publicly released the review’s findings. At a regularly scheduled Board meeting in October 2020, Mr. Black requested the Conflicts Committee, comprised of independent directors, retain outside counsel to conduct an independent and thorough review. The Committee subsequently retained Dechert LLP (“Dechert”), a leading global law firm. Michael Ducey, Chair of the Conflicts Committee said, “On behalf of the Board, we want to thank Dechert LLP for conducting a timely and thorough review. We are releasing the report and findings in its entirety in the interest of being fully transparent to all of our stakeholders.” Key findings of the Dechert report include: • Apollo never retained Epstein for any services and Epstein never invested in any Apollo- managed funds; • Epstein regularly advised Mr. Black on trust and estate planning, tax issues, philanthropic endeavors, and the operation of his Family Office; • All fees paid to Mr. Epstein by Mr. Black or his Family Office were for bona fide tax, estate planning and other related services, and the amounts were intended to be proportional to the value provided by Mr. Epstein; • Epstein’s advice was vetted by respected professional advisors; and • Dechert found no evidence that Mr. Black was involved in any way with Mr. -
2015 Media Kit ®
MAKE GROW LIVE CURATOR Learjet Turns 50; Luxury How Foundations Can Self-Defense for 2014; Eight Super Fast Sedans MAKE GROW LIVE CURATOR W Living at Disney World; Earn a Profit; Investing in Top 10 Influential Art and Sports Cars; Surprising The 10 Smartest Employee How to Invest in a 10 Questions for Your NetJet’s New Beauty Why Tech is Beating the Caspian Sea; Galleries; Wine’s New Whiskies from Japan; New W Benefits; Marissa Mayer’s Restaurant; Avoiding Nanny; The World’s Takes Flight; Napa’s Wall Street Fishing for Science Power Brokers Classics from Burger Boat Road to Yahoo’s Top Job; 2013’s Tax Cliff; The 10 Greatest Hotels; How to Unconventional Cabernets; How to Vanish Online Most Popular Tax Havens Fix a Bad Back (Overseas) The Power Suit for Fall ® ® THE EVOLUTION OF FINANCIAL INTELLIGENCE the evolution of financial intelligence 100 THE 100 MOST POWERFUL PEOPLE P IN FINANCE 100 THE 100 MOST POWERFUL PEOPLE PIN FINANCE WORTH.COM worth.com 26VOLUME 22 | EDITION 05 20volume 21 | edition 05 COVER_WOR20_ms.indd 1 9/25/12 11:38 AM MAKE GROW LIVE CURATOR MAKE GROW LIVE CURATOR Why Private Aviation is Top 10 Art Sales of 2013; 10 Classic American Designing Your Own Top 10 Venture Capitalists; Investing in Healthcare; How to Survive a Perfect Fall Fashion; W Soaring; How to Reinvent What Financial Credentials Restaurants; Six Artisans of Ferrari; Crafting Personal W Manhattan’s Hot New How to Buy a Winery; Hurricane; Best Cigar The World’s Largest Casinos; Making Furniture Really Mean; How to Bespoke; Talking Watches Whisky in Scotland; The Whisky Bar; Six Startups Expert Lessons from the Lounges; 10 Great Autumn Catamaran; The Beauty of with Thos. -
Future Finance & Investment Chapter
FUTURE FINANCE & INVESTMENT CHAPTER MEMBERS FUTURE FINANCE & INVESTMENT CHAPTER MEMBERS OF THE GRI GLOBAL COMMITTEE FUTURE FINANCE & INVESTMENT CHAIRPERSON VICE-CHAIR Audrey Klein Peter Plaut Head of Investor Relations (Funds) Executive Director Kennedy Wilson Wimmer Family Office Investor Relations (Funds) Investor - Family Office Kennedy Wilson is a global real estate operator. We focus Wimmer Family Office offers both bespoke investment portfolio on multifamily, office and industrial properties located in the solutions for family offices and high net worth individuals as Western U.S., U.K., Ireland and Spain. Headquartered in Beverly well as its core investment trend following strategy through the Wimmer Wealth Protection Fund. Hills, CA, and London, UK, Kennedy Wilson has 16 global offices. Audrey Klein is the Head of Fundraising for Kennedy Wilson Europe. Prior to Peter Plaut is an Executive Director at Wimmer Family Office focused on origination, this she held Head of Fundraising roles at several firms but is best known for researching and structuring private debt and equity transactions across a broad range starting the European business out of London for the Park Hill Real Estate of industries including specializing in real estate across the residential, office and hotel Group, a Division of Blackstone, which she ran for 9 yrs. Prior to joining Park and hospitality sectors. Minimum transaction size is $100mm to well over $1 billion. Hill, she ran her own business for 5 yrs marketing alternative asset funds Mr. Plaut is consistently recognized as a leader in the industry. Among his many across all asset classes including private equity, real estate and hedge funds achievements and awards, he was ranked as one of the Top 20 Rising Stars of Hedge to European investors comprised of pension funds, banks, family offices and Funds during the 2008 financial crisis –a recognition of his ability to manage through high net worth individuals. -
Turning Ideas to Gold
TURNING IDEAS TO GOLD Perspectives on Venture Capital for Indian Family Offices Summary 10K 140+ ~20% $30Bn Expected number of ultra- Formalised Family Offices in Portfolio allocation towards Indian Family Offices are high net worth individuals India that preserve, enhance, Alternative assets (which estimated to contribute 30% of (net-worth > US$ 30M) in and transition UHNI wealth includes PE/VC) by Indian the estimated $100Bn to be India by 2024 Family Offices raised by Indian startups by 2025 55K 485 bps 9 12 Number of start-ups launched Higher IRR generated by VC Levers through which VC Crucial checks across team in India. Home to 56 unicorns, and PE funds raised during funds generate value for their skills, fund reputation, investment India has added 14 new periods of economic crises GPs – including relationships, strategy, funding capability and unicorns by May 2021 already relative to the average VC/PE expertise and processes past returns generated while returns over the period 1995- selecting a fund GP 2016 © 256 Network © Praxis Global Alliance | 1 A new generation of Indians is growing their wealth UHNIs in India expected to have ~US$ 700B wealth by 2024, India expected to have ~10K UHNIs by 2024, ~2X of 2019 figures ~1.6X of 2019 No of UHNIs in India UHNI wealth in India 2014-2024P US$ B, 2019-2024P 707 10,354 CAGR CAGR 10% 12% 440 5,996 CAGR 3,061 14% 2014 2019 2024P 2019 2024P Notes(s): UHNIs refers to individuals with net worth > US$ 30M, CAGR for UHNI wealth estimated on the basis of past trends from 2013-18 Source(s): The -
Dubai's 16Th Global Family Office Investment Summit October 2021
Under the High Patronage of His Excellency Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade & Minister in charge of Talent Attraction and Retention at the United Arab Emirates Ministry of Economy. 16th Anniversary Ritossa Global Family Office Investment Summit 3-5 October 2021 Dubai, Waldorf Astoria Palm Jumeirah “World’s No. 1 Family Office Investment Conference, where World Leaders & Elite Family Office Investors Unite Together to Invest and Create A Brighter Future” Special Thank You to our High Patron His Excellency Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade & Minister in charge of Talent Attraction and Retention at the UAE Ministry of Economy: "I am so proud to be honouring the glowing strategic direction of the Ministry Of Economy, UAE with H.E. Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade as well as holding the position of Minister in charge of Talent Attraction and Retention at Ministry Of Economy, UAE. The UAE is cementing its position as the leading business destination at regional and global levels attracting incoming business partnerships and foreign investments. UAE's key areas of focus are Impact Investing, Renewable Energy, Healthcare, Education, Biotech, Fintech, Space, Real estate, Hospitality, and A.I. H.E. Dr. Thani bin Ahmed Al Zeyoudi is devoted to attracting the best talents and competencies to serve the strategic direction of the UAE. Thank you, Your Excellency, for providing us with your High Patronage and that of The Ministry of Economy and honouring our Conference with your active participation. Ritossa Family Office looks forward to our longterm friendship and collaboration." Sir Anthony Ritossa, Chairman of Ritossa Family Office & Host of Ritossa Global Family Office Investment Summits, UAE Personal message from our Distinguished Grand Ambassador for the 16th Ritossa Global Family Office Investment Summit: "It is an honour and a pleasure to be the 16th Ritossa Global Family Office Investment Grand Ambassador in Dubai on October 3-5, 2021. -
Inmarsat Istheleadingprovider Ofglobal, Mobilesatellite Communicationssolutions
B A I N N M N A U R A S L A R U T E P P O L C R T A N I D L A C C O U N D T S 2 0 1 6 I N M G O M E N T U M INMARSAT ISTHE LEADING PROVIDER OF GLOBAL, MOBILESATELLITE COMMUNICATIONS SOLUTIONS. Our communications services are utilised by governments, commercial enterprises, particularly in the Maritime and Aviation industries, and humanitarian organisations across theworld. Inmarsat’swholly-owned and operated satellite constellations deliver unparalleled reliability to support mission-critical communications, ensure safety on land, at sea and in the air, drive innovation and bring new economic and social benefits to even the most isolated communities. STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS 56 Corporate governance introduction 104 Financialstatements index OVERVIEW 58 Board of Directors 105 Independent Auditor’s report 01 Investor proposition 61 Report of the Directors 112 Consolidated income statement 01 Financial highlights 65 Corporate governance report 113 Consolidated statement of 01 Business highlights 78 Relationswith shareholders comprehensive income 02 Group at a glance 79 Directors’ Remuneration Report 114 Consolidated balance sheet 04 Chairman’s statement 103 Directors’ responsibility statement 115 Consolidated statement of changes in equity 116 Consolidated cashflow statement STRATEGY 117 Notes to the consolidated 06 Chief Executive’s strategic review financial statements 12 Our key performance indicators 159 Company financial statements 14 Our markets 161 Notes to the Company financial statements 18 Our strategy 162 -
DOD Concerns About the FCC-Approved Ligado Network
INSIGHTi DOD Concerns About the FCC-Approved Ligado Network Updated October 8, 2020 On April 20, 2020, the Federal Communications Commission (FCC) unanimously approved an application by Ligado Networks LLC (Ligado) to “deploy a low-power [9.8 decibel watts (dBW)] terrestrial nationwide network in the 1526-1536 MHz, 1627.5-1637.5 MHz, and 1646.5-1656.5 MHz bands [of the electromagnetic spectrum] that will primarily support Internet of Things (IoT) services.” These frequency bands are traditionally used for satellite operations. The Department of Defense (DOD) opposed this decision—along with the Department of Homeland Security, Department of Transportation (DOT), Department of Interior, Department of Justice, the Federal Aviation Administration (FAA), and others. That opposition related to concerns that Ligado’s proposed network could interfere with signals from satellites to Global Positioning System (GPS) receivers. Congress may consider federal agency concerns, including DOD concerns related to mission-critical systems and the FCC’s response, as it conducts oversight of the FCC’s ruling. Congress may also consider broader issues related to fifth generation (5G) mobile technologies, such as the allocation of spectrum among competing users and the impact of spectrum decisions on national security. DOD Concerns and Related Studies on GPS Interference In both its formal response to the FCC’s ruling and its May 6, 2020, testimony before the Senate Armed Services Committee (SASC), DOD cited two primary studies that shaped its belief that the Ligado network “would cause unacceptable operational impacts and adversely affect the military potential of GPS”: a 2018 DOT study and a 2016 classified study conducted by the U.S. -
NVCA 2021 YEARBOOK Data Provided by Dear Readers
YEARBOOK Data provided by Credits & Contact National Venture Capital Association NVCA Board of Directors 2020-2021 (NVCA) EXECUTIVE COMMITTEE Washington, DC | San Francisco, CA nvca.org | [email protected] | 202-864-5920 BARRY EGGERS Lightspeed Venture Partners, Venture Forward Chair Washington, DC | San Francisco, CA MICHAEL BROWN Battery Ventures, Chair-Elect ventureforward.org | [email protected] JILL JARRETT Benchmark, Treasurer ANDY SCHWAB 5AM Ventures, Secretary BOBBY FRANKLIN President and CEO PATRICIA NAKACHE Trinity Ventures, At-Large JEFF FARRAH General Counsel EMILY MELTON Threshold Ventures, At-Large JUSTIN FIELD Senior Vice President of Government MOHAMAD MAKHZOUMI NEA, At-Large Affairs MARYAM HAQUE Executive Director, Venture AT-LARGE Forward MICHAEL CHOW Research Director, NVCA and PETER CHUNG Summit Partner Venture Forward DIANE DAYCH Granite Growth Health Partners STEPHANIE VOLK Vice President of Development BYRON DEETER Bessemer Venture Partners RHIANON ANDERSON Programs Director, Venture SCOTT DORSEY High Alpha Forward RYAN DRANT Questa Capital CHARLOTTE SAVERCOOL Senior Director of PATRICK ENRIGHT Longitude Capital Government Affairs STEVE FREDRICK Grotech Ventures MICHELE SOLOMON Director of Administration CHRIS GIRGENTI Pritzker Group Venture Capital DEVIN MILLER Manager of Communications and JOE HOROWITZ Icon Ventures Digital Strategy GEORGE HOYEM In-Q-Tel JASON VITA, Director of Programming and CHARLES HUDSON Precursor Ventures Industry Relations JILL JARRETT Benchmark JONAS MURPHY Manager of Government Affairs -
Advanced Info Services (AIS), 155 Advanced Wireless Research Initiative (AWRI), 35 Africa, 161-162 AIR 6468, 23 Alaskan Telco GC
Index Advanced Info Services (AIS), 155 Belgium Competition Authority Advanced Wireless Research Initiative (BCA), 73 (AWRI), 35 Bharti Airtel, 144, 162 Africa, 161–162 Bite,´ 88 AIR 6468, 23 Bouygues, 79 Alaskan telco GCI, 134 Brazil, 125 Altice USA, 132 Broadband Radio Services (BRS), America´ Movil,´ 125, 129 137–138 Android, 184 BT Plus, 105 Antel, 139 BT/EE, 185 Apple, 186–190 Bulgaria, 74 Asia Pacific Telecom (APT), 154 Asia-Pacific Telecommunity (APT), 6, C-band, 26 25–26 Cableco/MVNO CJ Hello, 153 AT&T, 129, 131 Canada, 125–127 Auction Carrier aggregation (CA), 5, 22 coverage obligation, 10 CAT Telecom, 155 plans, 137–139 Cellular IoT (CIoT), 31 reserve prices, 9 Centimetre wave (cmWave), 34–35 Auction methods, 8–9 Centuria, 88 combinatorial clock, 8 Ceragon Networks, 93 simultaneous multi-round Channel Islands Competition and ascending, 8 Regulatory Authorities Augmented reality, 195 (CICRA), 83, 88 Australia, 139–140 Chief Technology Officer (CTO), 185 Austria, 71–73 Chile, 127–128 Autonomous transport, 195 Chile, private networks, 127–128 Average revenue per user (ARPU), China, 141–142 165–166, 197 China Broadcasting Network (CBN), Axtel, 129 141 China Mobile, 141 Backhaul, 24–25 China Telecom, 141 Bahrain, 156 China Unicom, 39, 141–142 Batelco, 156 Chipsets, 186–190 Beamforming, 24, 29 Chunghwa Telecom, 154 Beauty contest, 8 Citizens Broadband Radio Service Belgacom, 73 (CBRS), 130–131 Belgium, 73–74 CK Hutchison, 145 210 Index Cloud computing, 24 Eir Group, 85 Co-operative MIMO. See Coordinated Electromagnetic fields (EMFs), 38–39 -
2020 Annual Report
2020 ANNUAL REPORT INTER-AMERICAN TELECOMMUNICATION COMMISSION (CITEL) CONTENTS EXECUTIVE SUMMARY .......................................................................................................................... 3 1. INTRODUCTION ........................................................................................................................... 6 2. ORIGIN AND STRUCTURE OF CITEL ....................................................................................... 6 2.1 OBJECTIVES AND FUNCTIONS OF CITEL (ARTICLE 3 OF THE CITEL STATUTE) ..................... 6 2.2 MEMBERS AND PARTICIPANTS ............................................................................................... 7 2.3 STRUCTURE OF CITEL ......................................................................................................... 8 3. ACTIVITIES OF CITEL ................................................................................................................. 9 3.1 PERMANENT EXECUTIVE COMMITTEE OF CITEL (COM/CITEL) ......................................... 9 3.2 PERMANENT CONSULTATIVE COMMITTEE I: TELECOMMUNICATIONS/ICTS (PCC.I) .......... 11 3.3 PERMANENT CONSULTATIVE COMMITTEE II: RADIOCOMMUNICATIONS (PCC.II) .............. 14 4. ACTIVITIES OF THE SECRETARIAT ....................................................................................... 15 4.1 2030 ICT ALLIANCE FOR THE AMERICAS ............................................................................ 15 4.2 RURAL WOMEN’S ALLIANCE: EMPOWERING RURAL WOMEN THROUGH ICT ..........