family office

[ fam-lee aw-fis, of-is, fam-uh-lee ]

noun

1. a financial advisory firm for extremely wealthy private individuals that is designed to offer comprehensive management of all assets, especially one that serves a single family.

Word History and Origins

Origin of family office¹

First recorded in 2000–05

Example Sentences

Unlike other men who were recruited by the middleman, Luke says his initial contact was an assistant working for Mr Jeffries’ family office - a private company run by Mr Smith, which managed the then-CEO’s wealth and properties.

From BBC

Shepherd Futures, the family office of Chobani CEO and founder Ulukaya, now owns the assets of Anchor Brewing.

From Seattle Times

One guest who works with a Saudi family office told DealBook he couldn’t invest in an artificial intelligence company because its owners were wary of being connected to the kingdom.

From New York Times

Among the U.S. investors joining Fenway Group are some of the most well-known names in sports and finance: Marc Lasry, founder of the hedge fund Avenue Capital and a former owner of the Milwaukee Bucks; Tom Ricketts, chairman of the Chicago Cubs; Steven Cohen, the New York Mets owner via his family office, the Cohen Group; and Gerald Cardinale, founder of the investment firm RedBird Capital Partners.

From New York Times

Sazonov told the jury that he handled the purchases of the artworks for Rybolovlev’s family office and that he first met Bouvier during the acquisition of a van Gogh at the Geneva Free Port where Bouvier ran a large art shipping and warehousing company.

From New York Times