With one-third of family offices expecting to transfer control in the next five years, a new generation will enter the business.
Interest in alternative investments remains strong, but family offices are taking a more disciplined approach to the asset class.
Raphael Arndt is leaving the country’s sovereign wealth fund after close to two decades, including six years in which he led the organization.
Barker joins after 19 years at the Kresge Foundation, the last four as CIO.
The combination will create creating a $571 billion manager with ‘complementary’ equity and fixed-income capabilities and a CLO and alternative credit platform.
The 6% quarterly return was spurred by double-digit global equities gains, according to RBC Investor Services.
But the stake may be a drag on Q3 results, as its value has plummeted by nearly $2 billion in two months.
