The Mack Podcast Family Office Roundtable: Endowments, OCIOs, and M&A Activity
Mar 28, 2025
This discussion features John Lucan, a multifamily office executive, Fred Gluckman, a family office advisor, Andrew Cohen, a family office journalist, and Jay Rogers, a seasoned family office executive. They delve into the relevance of the endowment model for family offices and the nuances of private equity. Topics include the impacts of wealth transfer on M&A activity, the need for transparency in investments, and the shift towards co-investment strategies, emphasizing the importance of specialized expertise and strong partnerships for success in evolving financial landscapes.
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Endowment Model's Relevance
- The endowment model's efficacy is questioned, especially given recent investment cycles.
- Research from the True North Institute compares endowment benchmarks against other groups.
Adapting the Endowment Model
- Review and update the endowment model with common sense.
- Consider return expectations net of fees and adapt to market conditions.
Family Office vs. Endowment
- The endowment model's focus on multiple stakeholders contrasts with a family's singular focus.
- Families must consider factors like aging, individual needs, and generational wealth transfer.