How do I break into a family office role
Curious, how do people get these jobs and what are they normally looking for? I have 10+ years in acquisitions (with some AM) from the operator side: half of my career has been mixed use/multi development as well as VA multi acquisitions, the other half has been in acq on the operator side in a variety of regular/niche assets all existing/no new construction. Have great LP relationships if they wanted to scale and a consistent pipeline of good enough deals.
Do I have a shot or do they mostly look for an investment banking/PE background? Really enjoy looking at a variety of assets and be able to invest in anything/everything.
Breaking into a family office role with your background is absolutely possible, and your experience could be highly attractive to the right family office. Based on the most helpful WSO content, here’s what you need to know:
What Family Offices Look For:
Diverse Experience: Family offices often value professionals with broad exposure to various asset types and investment strategies. Your background in acquisitions, asset management, and working with mixed-use/multi-development projects aligns well with this. The ability to evaluate and manage a variety of assets is a key advantage.
LP Relationships: Strong LP relationships and a proven ability to source deals are significant assets. Family offices often operate with lean teams, so having someone who can bring in a consistent pipeline of quality deals is a major plus.
Flexibility and Generalist Skills: Many family offices prefer generalists who can adapt to different asset classes and investment opportunities. Your interest in investing across a variety of assets aligns perfectly with this preference.
Cultural Fit: Family offices are often highly relationship-driven and prioritize trust, discretion, and alignment with the family’s values and goals. Demonstrating your ability to work collaboratively and adapt to the unique dynamics of a family office is crucial.
Investment Banking/PE Background: While some family offices may prefer candidates with traditional investment banking or private equity experience, this is not a strict requirement. Your operational experience and deal-making track record can be equally compelling, especially if the family office values practical, hands-on expertise over purely financial engineering.
How to Position Yourself:
Highlight Your Deal Experience: Emphasize your ability to source, evaluate, and execute deals across various asset types. Showcase your track record of successful acquisitions and your ability to maintain a consistent deal pipeline.
Leverage Your LP Relationships: Demonstrate how your network can add value to the family office, particularly if they are looking to scale or diversify their investments.
Showcase Your Versatility: Family offices often invest in a wide range of industries and asset classes. Highlight your adaptability and willingness to learn about new sectors or investment opportunities.
Network Strategically: Breaking into a family office often requires networking with the right people. Reach out to recruiters who specialize in family office placements, attend industry events, and connect with professionals already working in family offices.
Tailor Your Pitch: When approaching a family office, tailor your pitch to align with their specific goals and investment strategies. Research the family office’s history, current portfolio, and future plans to demonstrate how you can contribute to their success.
Do You Have a Shot?
Absolutely. Your extensive experience in acquisitions, strong LP relationships, and interest in diverse investments make you a strong candidate for a family office role. While some family offices may lean towards candidates with IB/PE backgrounds, many value practical experience and a proven ability to deliver results over pedigree. Focus on positioning yourself as a versatile, relationship-driven professional who can bring immediate value to their team.
Sources: Family office Private Equity - help, Would you work for a family office?, Family Office Private Equity, Family Office vs. Traditional LP Career Path
Depends how big they are and what you'd be doing for them. I've worked for two family offices, the first was a full-scale development shop that employed roughly 60 people. It was a typical recruitment (through my school's career posting, etc.) and they were just looking for a normal development guy. I had the construction and MBA background, they liked that, it worked.
The second is a much smaller shop personnel-wise (single digit employees) and most of the work that the office does is manage an existing portfolio of owned assets, but I was brought on to be the lead on a few developments we had going on. I am now the "real estate" guy along with the head of the office and do what I was brought on for (development) but also all sorts of acquisitions analysis, CapEx projects on existing assets, managing vendor contracts, investor reports, etc. I got this job through a head-hunter hired by the office, they were looking for someone with development experience, the ability to work highly independently and someone who is flexible in their day-to-day tasks.
I used to work in construction, and there you just did whatever you needed to do to make the job go. Drive to Home Depot to pick up some soap to pass inspections? Done. Drop off stamped drawings at the county's office because they want paper copies? Done. Work Saturday and Sunday before opening weekend? That's the job. That was the kind of attitude they wanted, because there is not a whole support staff backing you up. If it's justified, we can hire outside help like accounting services and other consultants, but you're on your own to get the job done, and they needed someone who could handle that. A lot of development/real estate guys are just finance guys who know the math and investment thesis really well, but don't have a clue when it comes to actually managing a project.
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