N&Q: Family office head and Trump connection; family office invests in family business

Trump’s transition team expected to appoint family office head

Kevin Harrington, a managing director at Thiel Capital, is to expected to assist in changes at the US Department of Commerce, according to a Forbes report. Thiel Capital is the family office of the tech billionaire Peter Thiel, who has been a prominent supporter of the president-elect. Harrington is a close associate of Thiel and as well as being the managing director at the billionaire’s family office also works for his hedge fund, Clarium Capital Management.

 

Indian billionaire invests in family business through private investment group

Infosys co-founder Nandan Nilekani has bought a 2% stake in Fabindia Overseas through Entrust, his family office, according to a report in the Indian press. Fabindia is a second generation family business, which sells handmade products throughout India and the world. It was founded by John Bissell in 1960 and is now run by his son, William. The New Delhi-based business has already attracted investment from the family office of Wipro chairman Azim Premji when PremjiInvest bought earlier this year an 8% stake in the company from L Capital, the private equity group of the Arnault family, the owners of the luxury group LVMH.