University chancellor moves to a family office…
Leo Morton, the chancellor of the University of Missouri-Kansas City, is joining DeBruce Companies as its chief operating officer after he retires from his current position in October. Family office DeBruce Companies was set up in 2015 by Paul DeBruce, who was the founder and CEO of DeBruce Grain, which was sold in 2011 to Gavilon.
…maybe he’s moving because working for a family office is the most glamour in finance
According to eFinancialCareers, “if you’re looking for the most interesting, endlessly variable, exciting and glamorous job in finance, you probably want to work for a family office.” The article quoted a family office employee saying: “I met famous entrepreneurs, A-List Hollywood actors, top models, famous restaurateurs, members of various royal families.” Although that might not be the right thing to say to a principal of a family office when being interviewed for a job for why you want to join the family office.
Walton heirs invest in cycle company
Rapha, a cycle clothing maker, has received a big investment from the grandsons of Walmart founder Sam Walton. Steuart and Tom Walton have taken a majority stake in the UK-based Rapha, through a group called RZC Investments. The deal values the company, which was set up by entrepreneur and cycle enthusiast Simon Mottram in 2004, at £200 million.
Another investment from Zuckerberg-backed ICONIQ Capital
ICONIQ Capital, the multi-family office that has some of the biggest tech titans as its investors including Facebook founder Mark Zuckerberg and has been very busy funding startups, has led a Series D $50 million round of financing for Appboy, a lifecycle engagement technology group.
Impact investing lessons for family
Liesel Pritzker Simmons and Ian Simmons, the founders of the Blue Haven Initiative, a family office 100% committed to impact investing, have talked about their investment philosophies, their favourite investments, and impact investing in a candid interview for ImpactAlpha.