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Family Office Deal-Making Network Launched
Tom Burroughes
11 June 2020
A network of more than 400 family offices and a venture backed by hedge fund billionaire Paul Tudor Jones are partnering to help simplify deal-making for ultra-high net worth individuals, Bloomberg has reported. This type of venture suggests that family offices are teaming up to win a bigger slice of available deals and use collective buying power to negotiate fees and win returns. Such organizations have – as regularly noted here – been investing directly in real estate, infrastructure, privately-held companies and other assets to pursue yield.
The new entity, called , was “founded by a family office, created and designed for family offices and owned by family offices”, according to its own website. “ShareNett is a members-only global network of professional investors collaborating on curated, quality investment opportunities.” The names of the family offices involved were not disclosed. This publication has sought to contact the organization and may update in due course.
Members get access to “unique sourcing”, events, education and networking; a digital “locker”, co-investment and “curated access”, for example.
The newswire report said ShareNett offers members access to ClearList, a digital-trading platform developed by US market-maker GTS for investors to buy and sell shares of private companies.
The agreement will provide greater liquidity and more transparent pricing, ShareNett chief executive, Clifford Friedman, was quoted as saying yesterday.
“We’d like to be that one-stop shop that connects all of these different venues,” Friedman said in an interview with the newswire. “We want to become and are becoming a comprehensive super-distribution system.”
GTS, the electronic-trading firm at the New York Stock Exchange, launched ClearList this year. Its backers include Jones’s Tudor Investment Corp, the report added.