Family Office Networks Welcomes Family Offices and Hedge Fund Managers to Palm Beach
WEST PALM BEACH, FL – July 14, 2021 – Family Office Networks welcomed new family offices to the Palm Beach community with a Summer Mixer held July 13th. The event celebrated the 20+ high profile family offices that relocated to Palm Beach this past year along with a similar number of major hedge funds and investment firms such as $41.8 billion Elliott Management with 468 employees, $2.1 trillion Goldman Sachs with 40,500 employees and $17 billion Point 72 with 1500 employees.
“During the pandemic, Palm Beach has grown exponentially as the destination of choice for discriminating families as well as fund managers relocating from the Northeast and other large cities. They can choose to live anywhere in the world, yet love Palm Beach for our great weather, low taxes, sophisticated financial community, infrastructure and ease of global travel. It’s evident that New York City is getting back to normal post-pandemic at a slower than hoped for pace and we’re benefitting from the exodus,” said Family Office Networks Founder and CEO Andrew Schneider.
“We moved our firm’s headquarters to Boca Raton, FL from Wakefield, RI in July 2020. It was an easy decision as our family office investor base in Florida was growing rapidly, and many of our northeast investors were acquiring homes in Florida and spending a significant amount of time here. For the past five years, the Palm Beach County Business Development Board and the Governor’s office have been vocal about their mission of creating a “Wall Street South.” I think it is safe to say that vision has become a reality,” said Greg Babij, CEO of Bunkport Capital.
Membership in Family Office Networks’ Palm Beach Association and the Palm Beach Investment Club is open to approved family offices based within the local area. There are numerous events, seminars, and special functions that take place throughout the year engineered to deliver the most pertinent information to assist family offices in reaching their goals. A quarterly family office magazine keeps families informed about the latest luxury goods and services, including art, travel, autos, jewelry, fashion, design and more.
About Family Office Networks
Family Office Networks is the premier global community for families to share information and intelligence. The team works with a select group of top-tier investment managers and sponsors who offer substantial families access to stellar investment opportunities in areas such as real estate, venture capital, private equity, and hedge funds. In addition, Family Office Networks shares timely thought leadership on topics related to portfolio management, philanthropy, multi-generational wealth management, compliance and regulation, risk management, insurance, training, and education. The website www.familyofficenetworks.com is the hub of Family Office Networks with 500,000 users, including 10,000 family offices, and is a go-to resource for news related to family offices.