Greeting 2020

Family offices and private markets have enjoyed a symbiotic relationship for decades. Large fortunes are created in Germany by founding companies or by building up a real estate portfolio that is often initially financed by loans. This implies a natural "sympathy" for these two asset classes, namely private equity and direct investments on the one hand and real estate on the other. A study by the Bavarian Finance Center in cooperation with BlackRock and KPMG confirms the pronounced preference for private equity. It is now on par with equities when it comes to the most popular asset class for future allocation.

Accordingly, family offices are significant investors in private equity funds. They have always been involved in companies via direct investments - with the help of their own investment vehicles, or direct participations by the principals. Fund-of-fund investments are equally suitable for family offices, especially if they do not yet have any distinct investment experience of their own.