Family Office & RIA Weekly Roundup 

“Over the last two years, we have been arguing that we are not revisiting the 1970s and that neither are we likely to repeat the consistently disinflationary experience of 1990s-00s. Instead, we have been suggesting that investors face a pendulum, with the macro environment violently swinging between strong inflationary spikes and equally deep disinflationary collapses. The reason for this is that unlike the previous 25 years, we now have both disinflationary and inflationary forces at work..."

Vikto Shvets, Macquarie Capital

 

Earlier this week, the French Government lowered its Gross Domestic Product forecasts for the 2022 calendar year, cutting estimates from 4% to 2.5%. Europe's second largest economy points to pricing pressure from the Ukraine War, increased Covid-19 infection rates and supply chain restraints as a result of China's "Covid Zero" policy. This revision comes on the heels of a 2022 budget plan that includes efforts to prolong energy price caps and raise pensions, among other spending. Shrinking GDP estimates are not the only ongoing issue for the French Government, with average inflation hovering around 5%, the spending deficit passing $52B and the debt level sitting at 111.9% of GDP.

 

According to a recent Bisnow Boston report, David Rubenstein's Family Office, Declaration Partners is leading a housing project in Charleston, MA, with the deal valued up to $1.4B. Declaration Partners will work with the Boston Housing Authority to build nearly 2,700 residential units, with over a third marked for income-restricted apartments within the Bunker Hill Public Housing Development. The length of the project is estimated to take nearly 10 years to complete and will feature several acres of open area, 50K sq. ft of retail space and a 14K sq. ft community theatre. This is what Todd Rich, co-founder of Declaration Partners, had to say about the deal:

"We are attracted to the social benefits of preserving affordable housing while adding market rate housing in Boston, which we intend to continue to invest in over the long-term given the City’s diverse economy and strong demand fundamentals"

Private Funding Pulse Check

 

• AiVF, a medical technology company, has raised $25M in its Series A funding round that included single-family office 166 2nd (Adam Neumann Family Office)
  
  
• Paris, France-based Otium Capital has taken part in a $15.8M Series A deal with OnePilot, a customer service outsourcing platform
  
  
• Caprock Family Office engaged in a Series B investment with Airspace Link, a purchasing e-commerce solution, totaling $23M
  
  
• Robert Kraft's single-family office, The Kraft Group, finalizes on a $35M Series A deal with Jackpot.com, a national lottery platform

https://www.fintrx.com/

Industry M&A Wrap Up

 

• Alera Group Wealth Services has acquired Philadelphia, PA-based RIA Wharton Business Group who oversees roughly $3.4B of institutional and individual assets (CityWire USA)
  
  
• Newport Beach, CA-based RIA SageView Advisory Group has agreed to acquire Summit Financial Consultants, a retirement and corporate planning specialist with $321M in assets (SFVBJ)
  
  
• Wealth Enhancement Group is absorbing $574M worth of holdings from Hawkins Wealth Management, bringing their total AUM to $5.55B (FAIQ)

https://www.fintrx.com/