Good morning again, everyone, and thank you very much, Richard, for the introduction.
I'm always happy to be here. I am a dedicated speaker at Richard's events.
I always enjoyed his events, and I enjoyed his audience, and his events were always
enriching for my mind and helping me build more friendships and great contacts.
Again I'm Camille Homsier. I am the CEO of my own single family office, I've been
on the CEO helm for over two decades already and even though I want to step aside
they won't let me. So we are global investors, we operate out of Dubai And we
focus on alternatives. Our core investments are in commercial real estate, in
renewable energy, and in waste management. We do direct investments as well as we do
co -investments. I'm not going to talk about myself today because these 35, 40
minutes or less are all about you.
I enjoy moderating and I call it always, I say I moderate to educate. What I mean
by educate is besides, you know, macroeconomics and geopolitics, which is a lot of
my regular daily life as a dispute resolution expert also today in among many
different ministries in our region. What I enjoy is engaging with the climate people
and enjoy with, enjoy enforcing a enforcing an overarching policy that we have on
ESG where all our investments factor measurable impact. I have with me on stage four
esteemed panelists, the beautiful people. I only met them this morning. I wish I met
them a long time ago, but it's never too late. We can always make a lifetime
friendship. You have them hailing from New York, from New Jersey, from Chicago and
from Los Angeles. So Sylvia is gonna lead the pack by introducing herself,
her company, her position, her experience, and let's limit that to a minute,
please, because we have a lot of questions to cover for all these esteemed people
who put up with us and stayed through the third day. Thank you very much. Go
ahead, there. - Awesome, thank you, - Thank you Camille. My name is Silva and Hikaru
Capital is an independent asset management firm. So basically all we do is we are a
bridge between the financing and the fund managers. So we help fund managers to
fundraise and investors to deploy their own capital just as a normal external asset
manager would do. We cover all alternative asset classes. So starting with private
equity, real estate and VC. We, in order to be able to also invest indirectly right
now, we set up a fund of funds called Parkour Capital, so basically we are
investing in experienced fund managers across alternative energy, private equity and
real estate. And well, I'm proud to say that last year I was named as the youngest
female running an independent asset manager in the U .S. And yet people are still
getting excited with my, primarily with my experience because I have gone over a
decade in the investment space and I worked for Blackstone where I set up the
largest retail fund in Europe. Beautiful. Thank you very much. Jonathan.
Hello. My name is Jonathan Tuttle. Actually I have a podcast with Richard. It's
called The Credit Investor Podcast. I highly recommend you guys checking it out. Or
if any of you want to be guest, I'm always looking for new guests. I also have
two businesses. My main focus point is mobile home parks. I've been in that space
15 years. I have a fun Midwest Park capital. My partners have been driving for the
last two months, building a lot of off -market deals. I don't think we're raised
right now. We're pretty much oversold for the next raise we're doing. And I also
have a high -growth, e -com -focused digital agency. We build stores for seven, eight
-figure using on -the -me -traffic source with TikTok and Google. So, John,
the title of Chicago, thank you. - Thank you. - Thank you, Richard and Camille, for
hosting us today. Richard, I learned a lot on your speech there,
and now I'm overly sensitive to persuading everybody in this audience.
I work as a CIO for a single family office in the Southern states they had a
liquidity event a few years ago all cash and so we're deploying that the interesting
thing here is it is a hundred percent alternatives zero public market exposure by
design and a lot of family offices are moving to heavy alts exposure but this is
extrapolating to a hundred percent so very interesting I also have a small fund
called wingspan, and we invest exclusively in these alternatives as well.
Prior to that, I was the CIO for the Heinz family in Pittsburgh, more of a legacy
family, multi -generation, heavy alternative exposure, lots of implications by being a
high -profile family office, I guess.
So that's my background, and it's a pleasure to be here. - Thank you very much.
- I run a multi -family office out of Los Angeles, so I specialize in my,
the purpose of my business is threefold. One, to provide high net worth families
with tools, services, and products and investment vehicles that they had not been
exposed to, to provide them a more vertically integrated way of doing business,
and to provide them a platform to ensure the proper succession and transfer from one
generation to the next of the family, and to ensure that continuity. We focus pretty
heavily in real estate, because all the families that I work with, that's how they
built their passive portfolios, but
are expanding very heavily into private credit and slowly building a venture capital
arm as well. Thank you very much. Ladies and gentlemen, it is fair to start the
conversation by defining what is an ultra and ultra -wealthy investor.
We heard in the last few days and in many conferences the term "family office"
used. I And when a family that is working together,
this is a family business. When a family structure a team for itself and can afford
to structure and compensate that team, taking all the advantages in the West,
not by us in the GCC, because our tax system is very lenient, and in most cases
we don't have any income tax. But in The West and here in the United States,
Canada, there are tax advantages when you establish your own single -family office or
you run your business as a multifamily office versus a venture fund or other.
That's where also advanced, some of those advantages also advanced in the last few
years the private equity activities. For me and in the space that I live with,
The ultra -high and the ultra -wealthy families,
I remember when the time billion used to be a lot of zeros and very difficult.
You wait until you are 12, 13 years old to know that how many zeros it is. But
today the name, the word trillion is becoming a lot more prevalent because we hear
that in debt. We hear that in wealth. We hear that in budgets, and we hear that
in the cost of wars. So welcome to the trillion world. Sahel,
talking about, I was intrigued when you said that your family made wealth in real
state, and being a liquid and being in the alternative space, which is one of the
most attractive economic sectors to the ultra -wealthy. The ultra -wealthy is not
investing every day to make a living, but to really work on big investments and for
capital growth and for preservation. What would you say about the portfolio structure
of the ultra -wealthy?
- Well, I mean, in terms of structure, I don't think that's something that you can
just, you know set out at one point and just move on autopilot it always has to
be massaged it always has to be managed and and restructured and rebalanced based on
you know the the happenings of day to day I mean we we saw it just in in two
weeks the entire world kind of changed you know we had we had we had you know Joe
Biden stepping down to Trump you know almost getting assassinated to fascinated to
the DNC, all of these picks, everything sort of changed in the span of two to
three weeks. I was out of the country for this entire time. By the time I came
back to America, everything was extremely different, and I had to rethink my
priorities based on how I thought the next four years of economic outlook would go,
and what the impact would be,
all of the wars that are popping up, you know, the post -Soviet fever dream is over
and we've all really got to take stock in what that means both for us in our
lives but also for our portfolios. Jerof, thank you. Andrew,
since we've been experiencing this most recent paradigm that we inherited from COVID,
from inflation, from the banking industry failure. I know there are three or four
that went under, but that doesn't mean the rest are safe. So we're living in a
volatile economy that extensuate the sectors of private credit and the private equity.
And you've been involved in that. Where do you see today the allocation and also
the interest of the high net worth in these two sectors?
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