Canaccord Genuity Group Inc has made an undisclosed investment in Family Office Networks (FON), a West Palm Beach, Florida-based hub for family offices.
Founded in 2013, FON helps family offices share information and intelligence, including about investment opportunities in such areas as real estate, venture capital, private equity and hedge funds.
The deal will help FON to enhance its service platform and provide Canaccord Genuity with increased access to the global family office industry.
Based in Toronto, Canaccord Genuity is an investment banking and financial services firm.
Family Office Networks Announces Strategic Investment From Canaccord Genuity Group Inc.
NEW YORK, December 5, 2018 /PRNewswire/ —
Family Office Networks (“FON”) announced today that it has accepted a strategic investment from Canaccord Genuity Group Inc., a global, full-service investment banking and financial services company that specializes in wealth management and brokerage in capital markets. The agreement will enable FON to enhance its family office service platform and provides Canaccord Genuity Group with increased access to the family office industry.
This investment will serve to strengthen Canaccord Genuity’s distribution channel for new issues and other product offerings within its key verticals in capital markets and wealth management.
“The family office industry is an important constituency for us and we continually seek new ways to serve this valued community. Family Office Networks will be a trusted partner as we move forward with exciting new initiatives to meet the growing needs of global family offices,” said Mark Whaling, Global Head of Sales & Trading, Canaccord Genuity.
Since its launch nearly five years ago, Family Office Networks has experienced significant growth year after year as the number of single- and multi-family offices continues to expand, and as families demand high level expertise to support their investing needs.
“The number of global family offices has grown from a few thousand to more than 15,000 globally and today more than ever they seek trusted partners to help them navigate the complexities related to investing, philanthropy, technology, family education and related topics. That’s where we believe Family Office Networks excels. Through our technology platform, newsletters, website and events we support families on all aspects related to growing and preserving wealth, including access to good deal flow,” said Andrew Schneider, Founder and CEO of Family Office Networks.
Family Office Networks works with a select group of top tier investment managers and sponsors who offer families access to investment opportunities in areas such as real estate, venture capital, private equity, and hedge funds. Access and introductions to top tier service providers and targeted event support to reach prospective family office investors are also offered.
About Family Office Networks
Family Office Networks is the premier global community for families to share information and intelligence. The team works with a select group of top tier investment managers and sponsors who offer substantial families access to stellar investment opportunities in areas such as real estate, venture capital, private equity, and hedge funds. In addition, Family Office Networks shares timely thought leadership on topics related to portfolio management, philanthropy, multi-generational wealth management, compliance and regulation, risk management, insurance, training and education. The website familyofficenetworks.com is the hub of Family Office Networks with more than 10,000 members from approximately 30 regional FON associations and is a go-to resource for news related to family offices.
About Canaccord Genuity Group Inc.
Through its principal subsidiaries, Canaccord Genuity Group Inc. (the Company) is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has wealth management offices located in Canada, the UK, Guernsey, Jersey, and the Isle of Man and Australia. Canaccord Genuity, the international capital markets division, operates in North America, UK & Europe, Asia, Australia and the Middle East.
Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX.
For information about Family Office Networks, please contact andrew@FamilyOfficeNetworks.com
Family Office Networks
Charlotte Luer; 239-404-6785
Canaccord Genuity Group Inc.
Vice President, Investor Relations & Communications