Note from the CEO: So, you may have suspected that there may be a “secret” network for wealthy families to scrutinize investments and, guess what? It’s TRUE. Yup, the very wealthy and connected have their very own investing platforms (fintech 4 the wealthy) and see lucrative deals the general public does not. Gee, that’s not new, just the technology. What’s next? Private personal email servers for secrecy? Nah, been done.
“In October 2015, Sam Zell pulled off one of the biggest real estate deals since the recession of 2008. The Chicago-based business magnate sold more than 23,000 apartments controlled by his real estate company, Equity Residential, to Starwood Capital Group of Greenwich, Connecticut. While most details of the transaction made the financial pages, a sliver of the deal — approximately $30 million of the $5.4 billion sale — was offered privately on ShareNett, an online forum for wealthy families who prefer buying and selling far from the prying eyes of journalists.
Launched quietly in January, the ShareNett platform is reserved for family offices, which are companies that handle the personal and financial affairs of the fabulously rich. In the U.S., family offices date back to the Gilded Age of the 19th century, when titans of industry (or robber barons, depending on your politics) such as John D. Rockefeller saw the need for trusted professionals to manage their enormous wealth. Family offices in the U.S. number about 6,000, according to an estimate from the Family Office Exchange (FOX), which manages an online network of 350 families with a median wealth of $500 million.”