Home Office Gold Rush Spurs Conference Hot | Real Time Headlines

As the wealthy became rich, home offices exploded in popularity, with 8,000 people worldwide and assets of about $3.1 trillion. Deloitte. Home office events and meetings ensued.

Investment sales professional Dakota Marketplace said 123 such home office meetings were held in 2024 in 2024, and nearly 244 meetings this year are scheduled to be held this year.

“People are interested in the world because it is growing so fast and it is a capital bank,” said Paul Carbone, co-founder and vice-chairman of Pritzker Private Capital, and a member of the steering committee Home Office Initiative at the University of Chicago Booth School of Business. The initiative chaired gatherings at home offices and said that this has increased.

“One thing that’s clear is that families are interested in having conversations between them, where there are common experiences, common challenges, common opportunities that they can compare notes,” Caborn said.

Carbone divides these events into four categories: business conferences, events sponsored by major institutions such as banks, gatherings organized by families, and academic family gatherings.

“There are trillions of dollars in the family space, and relatively few are directly into the private equity world,” he added. “If capital users can take advantage of a large amount of capital pool, it can make them understand and benefit.”

Raphael “Raffi” Amit, a professor of management at the University of Pennsylvania’s Wharton School, witnessed the drive firsthand. The Wharton Global Family Alliance, founded and led by Amit, hosted a gathering in the home office for two decades.

The Wharton gatherings were intimate, limited to 60 participants in the home office, rather than sponsorship. But the share of the Lions conference is dominated by sponsors and suppliers, he said.

“According to our survey, when they attend these meetings, families hate, and all these vendors bombard them with various proposals,” Amit said. “We are organized by families, families for families, so the content is very different.”

Similarly, event sponsors are eager to attract the attention of this elite client.

This week marks the return of Anthony Ritossa, a prominent figure in the European and Middle Eastern home office circles. This former hedge fund salesman lags behind The 24th Global Home Office Investment Summit The two-day carnival in Miami is held on February 18-19 at the Trump International Beach Resort.

Ritossa was accompanied by “Sir Anthony” for years, who held meetings for the family office and was eager to hold courtrooms with them. He has since given up on “Mr.”, which is the subject of a year’s investigation and 2022 article Vanity Fairwhich raises questions about the legitimacy of its certificates and business practices.

Vanity Fair, citing past conference participants, reported that Ritossa misrepresented his background and accused sponsors of $18,000 to $200,000 in hopes of having few landings. Hope for office investment.

Ritossa described Vanity Fair as “inaccurate” but refused to comment on any details. When CNBC received comments, he repeatedly offered invitations to the Miami conference and “experienced for yourself” with “free” tickets, which CNBC did not accept.

After the article on Vajra Fairness, Ritossa held another Syrian summit in February 2023, and then largely stepped back. According to Lakshmi Narayanan, chairman of the U.S. think tank, he sold one of his limited liability companies to the Sovereign Wealth Fund Research Institute.

Ritossa did not address CNBC’s issue with selling its business.

His latest summit series is held in Dubai and is hosted by the host of Dubai-based CNBC Arabia, a licensed CNBC that operates Arabic at events in October and December 2024. Business News Channel. Attendees included Chi-Man Kwan, CEO of the Sheikhs and Raffles family offices.

At least on the surface, the impression Litosa has made a comeback.

The Miami event invitation letter said the summit will bring together a group of more than 250 high-net-worth individuals, family offices, members of the Middle East royal family, and others, representing more than $1 trillion in investable assets. this List Among the 148 speakers and honorary guests, including principals and staff in some home offices, but largely different groups represent speakers from various industries, from cryptocurrencies to medical tourism. Miami Mayor Francis Suarez was interviewed for a fireside chat.

For some attendees, the reputation of the conference guests rather than the host is the most important.

“In the home office community, the incident is more about which families appear than organizations,” said Jonathan Zaback, co-founder of public relations firm Impact Partners. “People still participate because of people they know.” . Where families feel they will meet other people and friends. For some events, these events are a few times they meet each other a year.”