Stanhope Capital is merging with FWM Holdings, owner of the New York City-based Forbes Family Trust, to create a multi-family office managing $24 billion.
Stanhope founder, the Franco-British financier Daniel Pinto, will become chairman and chief executive of the enlarged group.
Stanhope manages $13 billion. FWM looks after $11 billion for family offices, individuals and endowments. It acquired Dixon Boardman’s hedge fund group Optima Fund Management in 2019.
FWM chief executive Keith Broomfield will retain his position and join the Stanhope board. Veteran private equity tycoon Thomas H. Lee will also become a director of the new company.