Australian family office seeks public listing
The Tulla Group, a family investment group, is seeking a public listing, according to Australian news reports.
Founded in the early 1990s by the Maloney family, Tulla has been a major player in the Australian private equity market and owns a host of mid-market and smaller businesses in the mining and resources sectors, as well as real estate, technology and services sectors.
The purpose of the listing is to raise money to further Tulla’s investment efforts and to widen its investor base from outside the Maloney family, says those close to the Sydney-based group.
Family Capital interviewed Andrew Maloney, the founder and chairman of Tulla, for an early article on the family investment group.
Boston Private highlights risks for family offices
The US bank Boston Private says family offices face a multitude of challenges when it comes to their risk management.
In a major study, which surveyed more than 200 single- and multi-family offices, Boston Private said these groups were not adequately prepared for risks such as cybersecurity threats, family management issues, investment challenges and employees issues.
“The survey findings clearly show how a dangerous combination of limited resources and poor attitudes could expose family offices in terms of risk management,” the report said. “These challenges add to the worrying picture of a lax and complacent approach to risk management, and a lack of staff and other resources that are needed.”