Overview
Andrew McCune described the trend of family offices eschewing private equity funds to make deals on their own as a “Back to the Future” phenomenon, noting that “before private equity developed into a full-blown industry with a lot of fundraising and limited partners, that arena was really about individual investors buying assets.” Mark Selinger said that family office investors “can’t just dabble but really need to commit. It’s not for the faint of heart.” Family office investors may think “deals will just come to them,” Mr. Selinger added, “but PE firms develop the ability to find deals over a number of years.”