News Briefs: Goldman Sachs launches inaugural family office study; New CIO at family office

Goldman’s study reckons some family offices are pricing out PE funds

The investment bank has published a report on the investment preferences of family offices that indicates their growing importance in global capital markets. Interestingly, the study found some family offices are pricing out private equity funds when investing directly.

The study also found an increasing number of family offices leading direct deals, particularly in North America, although less so in Europe, where funds were still more popular for private market investing. The study can be found here. 

Rogers appointed CIO at Elkstone Private

Karl Rogers has been appointed chief investment officer at Elkstone Private of Ireland.

Elkstone Private forms part of Elkstone Partners, which started life as a single-family office before becoming an MFO and wealth advisory business that continues to manage funds for its principals. 

Elkstone Private provides investment services to the MFO business which has developed specific expertise in venture capital, real estate and alternatives.

Rogers is known for his expertise in asset allocation and alternative investments, including hedge funds and electricity trading. He retains his legacy business Ace Capital Investments, an alternatives consultant but he has stepped down as managing partner at Athlon, a multi-family office, which looks after professional athletes. He has also resigned as head of trading for US power at Risq Energy. Rogers will take a full-time role at Elkstone.

Alan Merriman, Elkstone executive chairman, started the business in 2011. He was previously a finance director at EBS, Ireland’s largest building society, and partner at accounting firm PwC. His business looks after the wealth of a range of Irish entrepreneurs and celebrities.