Contributing Authors

Contributing Authors - The Complete Direct Investing Handbook

 

Sara Hamilton is founder and CEO of Family Office Exchange (FOX). A recognized visionary in the private wealth community, Sara provides strategic direction for FOX and leads the development of programs and services supporting wealthy individuals, family office executives, and wealth advisory firms globally. For the past three years, she has been named as one of the “Top 50 Women in Wealth Management” by Wealth Manager. Sara is the co-author of Family Legacy and Leadership: Preserving True Family Wealth in Challenging Times and serves on the executive education faculty of the University of Chicago Booth School of Business for the “Private Wealth Management” course offered twice a year in Chicago.

Nate Hamilton, CFA, currently works as an investment banker within the Technology, Media, and Telecom group at Goldman Sachs. Nate was previously a co-founder and partner at FDX Capital, where he served on the investment committee responsible for deal execution and deal sourcing for the
firm. Prior to that, Nate was a director within the investment bank at UBS, where he was responsible for trade idea generation and portfolio management strategy for the firm’s global macro hedge fund clients. Nate graduated cum laude from Vanderbilt University with a degree in Economics, and received
his MBA from University of Chicago Booth School of Business. He holds his Series 7, 79, and 63 securities licenses.

David McCombie is founder and chief executive officer of McCombie Group LLC, a collection of influential families actively seeking to invest long-term capital into established family-owned businesses. A thought leader on private equity, he has been a featured speaker at various international investment conferences and has been profiled in the Wall Street Journal and Bloomberg. David also serves as an adjunct professor at the University of Miami School of Business. Prior to forming his firm, David worked at McKinsey & Company and Citigroup. David graduated from Harvard Law School, and also did extensive coursework in corporate finance at the Harvard Business School. He graduated Phi Beta Kappa from the University of Miami with a degree in Economics and Finance. He is also a licensed Florida attorney.

Euclid Walker is the managing partner of Parkway Investment Management LLC, an alternative investment management and advisory firm. Prior to founding Parkway, he was a founding member of a middle-market investment firm. He also founded Renascent Capital group in 2004 to provide strategic and capital-raising advice to corporate clients and family offices. Prior to forming Renascent, Mr.Walker was an executive director of Morgan Stanley where he worked for over 10 years in various capacities, including private equity investing; managing the Johannesburg South Africa office; and serving as operations officer for Corporate Finance and Banking Departments in Europe, the Middle East, and Africa and as executive director for Midwest investment banking business. Mr. Walker is a Phi Beta Kappa graduate of Morehouse College in Atlanta, Georgia, where he currently serves as chair of the Trusteeship committee of Morehouse’s Board of Trustees. He is a member of the Palm Beach County Investment Policy Committee. 

Jolyne Caruso is founder and CEO of The Alberleen Group, an advisory firm servicing middle-market companies and family office investors. She has over 30 years of experience in global capital markets and asset management businesses, including as global head of Absolute Return Strategies at Lehman Brothers while serving on the Management Committee of the firm. Ms. Caruso was also a co-founder and president of Andor Capital Management, a technology-focused hedge fund. From 1992 to 2001, she was head of Equities–Americas at J.P. Morgan and was chairwoman of J.P. Morgan Securities. She began her career at Bear Stearns. Ms. Caruso holds a BA with honors from Barnard College, Columbia University, and is chair of Barnard’s Board of Trustees. She is a director of Kleinfeld Inc., and The Center for Clean Air Policy (CCAP), serves on the fund advisory board of Golden Seeds, and is an advisor to Columbia University/ Entrepreneurship and Massey Quick.

Adam Goodfriend is a co-founder and chief investment officer of The Alberleen Group and serves on the management committee of the firm. He is responsible for all of Alberleen’s principal merchant banking activities and for determining the overall investment strategy for the firm. Mr. Goodfriend has over 25 years of investment banking, capital markets, and asset management experience. From 1990 to 2003, he was responsible for structuring and executing public and private transactions, initially as a founding
member of the high-yield bond origination group of Chase Securities (a predecessor of J.P. Morgan Chase). He was a product group head at SGCowen, and subsequently amanaging director at Bank of America Securities. In 2003, Mr. Goodfriend left banking to co-found The Airlie Group, a $1.2 billion
high-yield bond and leveraged-loan hedge fund. He subsequently held senior investment positions in ultra-high-net-worth family offices. He earned his BA from Johns Hopkins University, and an MBA from the University of Pennsylvania’s Wharton School. Mr. Goodfriend serves on the board of directors
of Tyrogenex LLC.

Robert G. Blabey III co-founded Align Private Capital to serve the investment needs of single family offices. Specifically, Align works with family members or their family office investment professionals to
create tailored investment solutions based on their needs. Engagements have included: comprehensive portfolio analysis/construction/management, direct real estate investing, manager review/selection, distressed workouts, direct investing vetting/due-diligence/post-investment oversight/sale/disposition,
family-to-family partnership execution and co-invest, and private company balance sheet management.
For the ten years prior to forming Align Private Capital, Rob worked as chief investment officer for two large single family offices (the Collier family and the Statler family) and for a multi-family office that specialized in the alternative investment vertical. In each of these positions, he managed both public market and private investing initiatives for families with sophisticated investment requirements and diversified holdings. Before working in the single family space, he was an investment partner at Trident Partners, a private equity and hedge fund firm. He began his career in the International High Yield Investment Banking and Capital Markets Division of Donaldson, Lufkin & Jenrette in New York and London and prior to that in the International High Yield Capital Markets Group at Chase Manhattan Bank. Rob is a graduate of Hamilton College. 

Temple Fennell is an active investor and advisor in the clean energy and sustainable agriculture/food sectors. He has more than 20 years of experience in operating businesses, direct investing, corporate finance, and project finance for early-stage and growth companies. He co-founded “Impact Investing Strategy for the Next Generation” under the Initiative for Responsible Investing at the Harvard Kennedy School with the World Economic Forum, and helps lead the MIT “Visionary Investing” workshop programs for family offices. He is a member of the Clean Energy Venture Group, CREO Syndicate, MIT’s Renewable Finance group, and board member of Keller Enterprises LLC, a single family office active in clean energy, sustainable agriculture/food, and other direct investments. Temple has a BS in Systems Engineering from the University of Virginia and an MBA as an MIT Sloan Fellow at the Massachusetts Institute of Technology.

Anna Maria Nekoranec is CEO of Align Private Capital. She co-founded Align Private Capital with Robert Blabey the author of Chapter 10 to serve the direct investment needs of family offices. Anna has over 25 years of international experience making direct investments in operating businesses, real estate and private equity funds. For the last decade, Anna has partnered with ultra-high-net-worth families on direct investments and assisted in the management of direct portfolios on behalf of families through LBK Capital, which she founded. Prior to LBK, Anna was a partner and managing director at Investor Growth Capital, a private investment fund with assets under management in excess of $1 billion. She has worked in the United States, Europe, and Asia and has reviewed investments in South America. Ms. Nekoranec has an MBA from The Wharton School at the University of Pennsylvania and a BA from the University of Virginia. She is also a co-author of How to Buy a Business: Entrepreneurship through Acquisition. Chicago: Kaplan Publishing, 1993.

The Complete Direct Investing Handbook

Most wealth books are written for managers and contain lots of details but no sense of the daily life and concerns of the people who are to be served. This Handbook is one of a kind—written for real concerned and want-to-know people. The book starts not with concepts but with concerns and offers clear ideas about what to do, laced with details about real families managing the dilemmas of great wealth and an expanding family. There are few such families, but this handbook is for every family member of such families.

DENNIS T. JAFFE, PhD
Professor of Organizational Systems and Psychology,
Saybrook University

Kirby Rosplock has written an extraordinarily comprehensive 'owner's manual' for family offices already, or seriously contemplating, investing directly in illiquid private markets. The book cogently sets forth not only the 'why' behind these families' desire to get closer to the source of private market returns, but importantly the 'how' to go about identifying, diligencing and structuring direct investments. Given the fast growing proportion of family office capital in direct private deals, this book's insights are exceptionally timely.

Tom Mahoney
Senior Managing Director,
Tangent Capital Partners

Kirby Rosplock dedicated a year of her life to writing this book and it shows. This is the must-have book for anyone dealing with high levels of wealth—it will support wealth holders as well as wealth advisors and service providers in creating the most efficient structure possible for handling and preserving a high net worth person or family’s financial and human assets. Rosplock and her collaborators clearly demonstrate their command of the subject and why they are globally known to be at the top of this industry.

STEFFI CLAIDEN
Founder/CEO,
Family Office Review/Family Office Capital Network

Kirby blends leading industry research, real world case examples and best practices to architect the first book to comprehensively outline the infrastructure, costs and considerations for building and sustaining a world class family office. My hat is off to her.

JOHN BENEVIDES
President,
CTC Consulting | Harris myCFO

The Complete Family Office Handbook captures the essence of today’s family office and paves the way to best practice for every family and advisor entrusted with sustaining generational wealth. Kirby has written what is sure to be an industry classic.

SARA HAMILTON
Founder and CEO,
Family Office Exchange

Kirby Rosplock expertly captures the complexities of the practical and emotional choices that affluent families and their advisors face.

SUSAN REMMER RYZEWIC
President and CEO,
EHR Investments, Inc.

Once again Dr. Rosplock gets it right! In my experience, few have the insiders knowledge that comes shining through in this book. Not only was it helpful, it was a pleasure to read.

Wendy L Craft
COO,
Favara, LLC (SFO)
New York, NYC

The Complete Directing Investing Handbook is a wonderful and really the education needed in the family office world. I think we seek out direct investing to diversify risk while enhancing overall returns. However, with direct investing comes the challenges with sourcing the deals, screening the deals and doing proper due diligence, structuring the deals and then monitoring these investments. Your book touched upon all these areas will great educational direction for families to easily understand and use in their offices. The book also touched upon other areas such as millennial perspective and international regard which I felt was extremely helpful. I found the book very comprehensive, informative and a very useful source for our family office.

JULIO GONZALEZ
CEO,
Julio Gonzalez – Single Family Office

The family office space has long needed a comprehensive introduction to direct investing for non-specialists—which it now has thanks to Rosplock and her co-authors. A great place to start.

Grant Kettering
5th Generation Member of Kettering Family,

In The Complete Direct Investing Handbook Dr. Rosplock and her contributing authors impart a wealth of global family office and investment expertise designed to educate affluent families and their professional advisors regarding the nuances of direct investing. This well researched new resource will prove to be an invaluable tool in navigating the rapidly growing field of direct investments.

Thomas J. Handler, Esq.
Chairman, Advanced Planning & Family Office Practice,
Handler Thayer, LLP

The Complete Family Office Handbook is an important resource on the opaque world of the single family office. Comprehensive and easy to read, the book incorporates the views of many thought leaders on diverse topics from the importance of a family office vision to the current legal and compliance standards for the single family office. Those who are new to family offices and those of us who have worked in the field for decades will use it as a valuable reference for issues and ideas.

KATHRYN M. McCARTHY
Director,
The Rockefeller Trust Company, N.A. and an independent advisor to families and family offices

Kirby Rosplock's "The Complete Direct Investing Handbook" is a must read for anyone interested in direct investing. With key insights reinforced by practical case studies from noted experts in the field, this is an essential guide for current and potential direct investors.

Joanne Pace
Former Managing Director and Chief Operating Officer,
Morgan Stanley Investment Management

There are many good books and articles about private investing in general but few that tackle the topic from the unique lens of the family office. Family offices have advantages and constraints relative to other institutional investors. They need to be understood. Kirby Rosplock’s book should be read by both family members and professional managers to better understand how to craft and advance a direct investment program.

Sam Altman
President,
Joddes Limited
Montreal, Canada

Dr. Kirby Rosplock has created an indispensable resource for family offices seeking to invest in private equity. She explains how to analyze winners and avoid the pitfalls, and discusses the extensive due diligence required even after initial investment. This is the conclusive guide to direct investing, which provides investors with the information necessary to ascertain how to proceed. Rosplock has written the essential manual for what will be a major investment trend for family offices in the years to come. 

Howard Cooper
Private Investor,

The world’s best and brightest family offices are devoting ever more capital to direct investing. Now is the critical time for advisors, CIOs, and family members to share a common understanding on how to source, screen, diligence, structure, monitor, and harvest direct investments. Dr. Rosplock’s handbook provides the roadmap.

Brian Smiga
Partner & Co-founder,
Alpha Venture Partners