The richest woman in Eastern Europe, Renata Kellnerova, is consolidating control over her late husband's business empire by bringing all family assets under one new holding company, AMALAR. The Czech billionaire Petr Kellner built up the PPF Group investment firm over decades to manage €40B in telecoms, financial services, real estate and other assets across Europe and Asia. Since inheriting the business after Kellner's death in 2021, Kellnerova has been streamlining its structure. The new AMALAR Holding will have Kellnerova and her three daughters on the board of directors. They aim to simplify ownership and strategy for PPF Group while expanding further into Western markets. Recently, AMALAR sold part of the telecoms business to an Abu Dhabi firm for €2.15B. With a net worth over $11B, the Kellner family remains focused on driving growth through its core investment portfolio under AMALAR.

"The aim of creating this superholding is to simplify the ownership structure, which will be fully controlled by the Kellner family."

Tomas Perman, AMALAR

The U.S. venture capital landscape underwent significant shifts in the third quarter of 2023, as revealed in a recent analysis of Carta data. Central to this change was the West census region, particularly California, which saw its venture capital market share surge to 46.15% in Q3 from 35.99% in Q2, aligning with its dominant role in 2022. This rebound in California contrasts with the declining shares in other regions like the Northeast, South, and Midwest. States like Washington and Texas also saw noteworthy increases in their VC market shares, indicating a broader geographic diversification in venture funding. Washington's share more than doubled, while Texas continued its steady climb. On the flip side, states such as Florida, Ohio, and New Jersey experienced significant drops in their respective shares, suggesting a possible return to historical investment patterns. This report highlights the dynamic nature of venture capital distribution in the U.S., pointing towards evolving hotspots and the potential emergence of new hubs for startup growth.

The finance industry is witnessing a significant shift as alternative investments gain traction, particularly among the younger demographic. Only a slim fraction of the American populace, 8%, are currently investing in alternative assets. In stark contrast, the younger generations display a burgeoning awareness and active participation, with 30% of Gen Zers and 26% of Millennials either informed about or engaged with alternative investment platforms. This trend is poised for robust growth, with PwC forecasting that the Assets Under Management (AUM) in alternative asset classes will soar beyond $21 trillion by 2025, which would constitute 15% of the global AUM. This surge is most pronounced among high-net-worth individuals, with billionaires allocating between 51%-54% of their portfolios to alternative investments, according to Nasdaq. The data underscores a generational shift in investment strategy that is reshaping the landscape of asset management and wealth accumulation.

Hong Kong Launches Academy to Become Leading Hub for Family Offices

https://www.scmp.com/business/companies/article/3240755/new-worlds-adrian-cheng-sinos-daryl-ng-ubs-amy-lo-join-hong-kongs-first-training-centre-attract

Written by:

Andrew Popp | Sr. Research Associate