This Citigroup study reflects the progression of work we are seeing from our family office clients. In-house investment teams are increasing, with hybrid models creating a new category of best practices for family offices with $500 mil to $1 bil in AUM. These mid-sized family offices have insourced asset allocations to more traditional public securities while building strategic partnerships with external managers in complex areas like emerging markets, private markets, and venture investing. The partnerships are more sophisticated, often including direct investment partnerships on specific deals.
The strong trend towards OCIO utilization with family offices of less than $250 mil AUM continues.
Great reporting by Michael Thrasher and the team at Institutional Investor, and another year of really valuable data from Citi Private Bank.