Business

One of the world’s richest individuals rebrands family office

The growing public role of family offices around the world is leading more to think about their brand and some are launching websites to bolster their image to a wider public. 

The latest billionaire family to do so is the Australian-based Forrests, best known by their patriarch Andrew Forrest. His and his family’s fortune is estimated by Forbes at $10.4 billion (late June 2020), making them among the top 250 richest people in the world.  The wealth is linked to Fortescue Metals Group, one of the biggest mining companies in Australia, which Andrew built up and his family own. 

The family’s investment office has been rebranded to Tattarang from its previous name Minderoo Group. Tattarang claims to be the biggest family office in Australia, in terms of assets it managers, which is north of A$10 billion.

In a statement about the re-branding, Andrew and his wife Nicola said: “The name Tattarang has held a special meaning in our family over many years and was the inspiration to rename our commercial group. For us, Tattarang signifies the unique bond of trust that is formed between a rider and their horse, and the seriousness each party invests in caring for and protecting the other.”

The re-branding corresponded with the launch of a new website for the group: tattarang.com. 

Tattarang is led on the management side by Andrew Hagger, who joined the family office in March 2019, after more than ten years in senior roles at one of Australia’s biggest banks, NAB. The CIO of the group is John Hartman, who’s been with the investment office for more than eight years. 

Tattarang owns outright, or has majority stakes in a number of businesses, including commercial property developers, Fiveight, food group Harvest, mining group Wyloo Metals, and lifestyle services group, Ziz. 

Tattarang’s more recent investment was $5 million last month into Australian biotech group, Invex Therapeutics. 

Although separate, the family office has strong links to the Minderoo Foundation, also set up by the Forrest family, and is one of the biggest private foundations in the Asia region, in terms of its grant-giving. Hagger and Hartman also work for the foundation. 

Family offices around the world are increasingly willing to brand themselves with websites, as the sector becomes more transparent, according to a recent study.  

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