N&Q: Family office returns and deals, US family business close to PE deal

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Family offices compete with buyout firms to attract assets and the best talent

A report in Financial News says family offices are increasingly competing with buyout firms to attract sort after assets and the best talent. The report cited family investment groups like LetterOne Holdings and Jacobs Holding beating big named PE houses to deals in recent years. Family offices are also hiring some of the best buyout specialists to ensure their competitive advantage in attracting the best deals.


Annual family office study released

The Campden Research and UBS family office report was released this week, which showed family offices investing more in emerging market equities and less in hedge funds. More details here.

 

Canadian family office buys farm equipment group

A family office called Lamont Brown Group has bought into Morris Industries, one of Canada’s biggest farm equipment groups. The acquisition is part of a co-investment deal involving VC and private equity group Avrio Capital, along with a senior manager from Morris Industries. More details here.

 

Nordstrom moves closer to taking the business private

Family business Nordstrom, a fashion speciality retailer based in the US, has moved a step closer to taking the business private, according to media reports.  Reports suggest Nordstrom is likely to do a deal with a Los Angeles based private equity group called Leonard Green. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 354 stores in 40 US states, but the business has struggled in recent years with competition from online shopping.