Family Investment Office

[maptrader]

Does anyone know what the term Family Investment Office refers to? I have a friend of a friend who has put me in contact for a job with a hedge fund and the HR person from the hedge fund described them as a "Family Investment Office" and a hedge fund. Does this mean they are funded by a really wealthy family or a group of families? I've never heard this term.

 

[MYDemaray]

Yes, often it is only one family. Take for instance Pritker here in Chicago -- this family has billions that it has to put to work. As such they have their own private equity arm. They buy, sell and operate businesses. Some families will just invest in other funds, some will do direct investing.