Prominent Californian family office specialist Chad Boeding has split from multi-family office ICONIQ, best known for managing some of the money of Facebook’s Mark Zuckerberg, and set up his own investment group called EPIQ Capital Group.
Based in San Francisco, EPIQ seeks to gain clients who are “prominent senior executives, founders, and early employees of high-profile companies who have a net worth in excess of $100 million,” according to a press release announcing the firm’s launch. Given Boeding’s background and where EPIQ is based, early clients are expected to come from the tech/venture world.
Boeding is understood to have taken some staff with him to the new venture, which won’t sell proprietary products or have its own internal funds. This emphasis on independent is designed to reassure clients they are getting completely impartial advice.
“EPIQ’s launch is directly related to Boeding’s intense commitment to avoiding conflicts of interest commonly found at major banks and large advisory firms,” says the press release. “EPIQ will never sell proprietary products nor have its own internal funds.”
And like ICONIQ, Boeding’s family office plans to be discreet and, although open to new money, will be pretty selective in its client base, effectively making it a relatively closed MFO.
Given the huge demand for private equity and venture capital deals, particularly in the US, EPIQ says it will through its contacts “curate a steady stream of exceptional direct private investments”. It also says it will seek out exceptional indirect investment opportunities.