top of page

The Sherpa Update

Asset 1@114x.png

The Sherpa Update


Family Office Lending - One of the historical uses of a private bank is access to lending at size and for idiosyncratic investments. The balance sheet of banks provides clients with access, usually at competitive rates and with security provided by less vanilla asset classes. And it seems Goldman Sachs may be entering the market in Oz. Now that rates are higher, and the main provider in Oz has been swallowed up by a rival (CS/UBS), providing lower cost debt to this client makes for a very useful lever to pull. And a potentially lucrative revenue stream for those servicing family offices. GS wouldn’t be the only supplier looking to get a license, it will be nice to see some competition.


Endowments – if you’re benchmarking your investments to the US endowment model (or you say you are), this paper from Partners Capital provides an update on SAA and how they fared ($50M - $5bn + schools).


Fairfax Family – The Vincent Fairfax Foundation/Cambooya is seeking a program manager. They distribute approximately AU$11 million per annum in new grants so it’s a pretty meaty role for anyone in that space.


Big book of PE – someone has uploaded the latest big book of PE into a downloadable file. It’s a huge document and provides an excellent overview of current state.  

Family Office Advice – EY is producing some quality reports lately, this latest one being a deep dive into wealth management of the future. I’m always a little cynical when it comes to these “you must do this” reports, especially from consulting firms (BCG, McKinsey, EY et al) which are notorious for ideation without the getting dirty with the imperfection of implementation. Some good ideas here, though, for anyone wondering where the big brains are expecting wealth management to be in the next decade.


Risk Parity Funds – seems that the big asset owners have given up on risk parity strategies. It was the holy grail for investors for a while and doesn’t seem to have worked out.


Family Office Investments – iCapital is on a mission lately, having recently hoovered up US based Family Office reporting firm Mirador, the have now launched an alts marketplace in Singapore and HK. The fruits of its relationships with JP Morgan and IQ:EQ.


Family Office Fundraising – Jan Voss has a very cool newsletter (subscribe here). He has a great writing style and provides insider insights into the family office space, particularly in private market investing. His latest on how family offices’ view fundraisers is very helpful in dispelling some of the myths.  

Sherpa Subscription Link – for those not already on this Sherpa newsletter list, you can join here. 





Hall Road Investments

ABN 61 621 299 269

T: +61 (0)403 289 937


 “Hall Road Investments Pty Ltd is a Corporate Authorised Representative (CAR No. 001279456) of Non Correlated Capital Pty Ltd (AFSL No. 499882). Shaun Parkin is an Authorised Representative (AR No 001279458) of Hall Road Investments Pty Ltd (CAR No. 001279456) and is authorised to provide general advice to wholesale investors”


Disclaimer: This email and any attachments to it (the "Communication") are, unless otherwise stated, confidential, may contain copyright material and is for the use only of the intended recipient.  Nothing in the Communication constitutes an investment offering of any kind, unless expressly stated. This email is for informational purposes only.  It does not constitute investment or financial advice.  Before acting on any information contained in this email, each person should obtain independent taxation, financial and legal advice relating to this information and consider it carefully before making any decision or recommendation. If you receive the Communication in error, please notify the sender immediately by return e-mail, delete the Communication and the return e-mail, and do not read, copy, retransmit or otherwise deal with it.  Any views expressed in the Communication are those of the individual sender only, unless expressly stated to be those of Hall Road Investments (ACN 621 299 269) or any of its related entities.  Hall Road Investments does not accept liability in connection with the integrity of, or errors in, the Communication, computer virus, data corruption, interference or delay arising from or in respect of the Communication.


bottom of page