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How I Invest with David Weisburd
E110: How Legacy Knight Scaled $1.5 Billion in Under 5 Years
Nov 8, 2024
David Sawyer, Chief Operating Officer & Managing Partner at Legacy Knight, shares insights from his journey in the multi-family office sector. He discusses the common pitfalls investors encounter in GP stakes and explains why middle-market GP stakes are set to outpace traditional investments this year. David emphasizes the competitive edge smaller firms have in serving high-net-worth clients and explores the crucial role that investment bankers play in navigating GP stakes transactions. Dive into the evolving landscape of portfolio construction and the promising avenues for high-net-worth investors.
43:11
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Quick takeaways
- Legacy Knight successfully scaled to $1.5 billion in assets by focusing on personalized investment opportunities for family offices.
- Investing in GP stakes offers a lucrative revenue stream through management fees, while providing downside protection and stability.
Deep dives
Growth and Structure of Legacy Nine
Legacy Nine is a multifamily office established in Texas in 2020, which has rapidly grown to manage nearly $1.5 billion in assets within a short span. The firm operates through two main segments: the legacy business focusing on comprehensive advisory services and the night side, which concentrates on curating investments in alternative spaces such as private equity and real estate. Legacy Nine primarily serves family offices, aiming to provide them with better access, fee structures, and investment opportunities compared to larger banks. By utilizing checks in the range of $20 million to $100 million, they seek to craft tailored investment solutions for each family office's unique needs.
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Discover
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