Committed capital fees ‘on the way out’
Charging management fees on capital that limited partners have committed to a fund but has yet to be invested is on the way out.
That was the prediction made by Richard Clarke-Jervoise, head of the private equity team at multi-family office Stonehage Fleming, in an exclusive interview with Private Equity International.
“I would be very surprised if in 10 years’ time much more than 50 percent of the asset class was charging on the basis of committed capital,” Clarke-Jervoise told PEI.
“It’s just such an anomaly within investment management as an industry. There are very good reasons for it, but I just think people will eventually say ‘we’re not prepared to pay for that’.”
Read more via Private Equity International
Committed capital fees ‘on the way out’
Charging management fees on capital that limited partners have committed to a fund but has yet to be invested is on the way out.
That was the prediction made by Richard Clarke-Jervoise, head of the private equity team at multi-family office Stonehage Fleming, in an exclusive interview with Private Equity International.
“I would be very surprised if in 10 years’ time much more than 50 percent of the asset class was charging on the basis of committed capital,” Clarke-Jervoise told PEI.
“It’s just such an anomaly within investment management as an industry. There are very good reasons for it, but I just think people will eventually say ‘we’re not prepared to pay for that’.”
Read more via Private Equity International
Stonehage Fleming Attracts Key Client Director
Stonehage Fleming, one of the world’s leading independently owned family offices, announces the appointment of Eva Sheppard as a Senior Director within the Investment Management division.
With over 20 years of industry experience, Eva joins Stonehage Fleming from EFG Private Bank where, as Senior Director, she spent five years managing a client portfolio of UK based high net-worth individuals and families. Prior to EFG, Eva looked after corporate and private client relationships for fifteen years at HSBC Private Bank and before that Svenska Handelsbanken, where she was Head of Individual Banking.
At Stonehage Fleming, Eva will work predominantly with one of the firm’s long standing family clients. She will be based in the firm’s London office and will report to Mark Sullivan, Partner.
Commenting on the appointment, Graham Wainer, CEO & Head of Investments London said: “Close relationships and a deep understanding of our clients is at the heart of Stonehage Fleming. Eva’s seniority, her reputation as a trusted adviser, and her experience working with families that span generations and geographies is synonymous with our approach to total wealth management. I am pleased to welcome her to Stonehage Fleming.
Eva Sheppard said: “Stonehage Fleming is truly a pioneer of the family office with its multi- disciplinary advisory model and impressive roster of large international clients. The needs of our clients are constantly evolving and we in turn need to offer broader servicers and a deeper understanding of the issues they may face. Stonehage Fleming is uniquely positioned with their distinctive integrated family office approach. It is an exciting time for the company and it gives me great pleasure to be a part of the journey.”
Stonehae Fleming appoints Chairman of Corporate Finance
With 30 years’ corporate finance advisory experience in the UK and internationally, Simon has led multiple transactions involving mergers and acquisitions, joint ventures, public and private equity fund raisings, debt financings and restructurings. Simon joins from PwC Corporate Finance in the UK, where he was a senior partner and led the public company advisory group, the real estate advisory group and the debt advisory business. Prior to joining PwC, he was a Director with NatWest Markets, based over many years in London, Tokyo and Hong Kong.
Simon’s clients have covered a wide range of industry sectors and have included FTSE100 and mid-market listed companies, private equity houses, family owned companies and family trusts. He is currently a Non-Executive Director of Churchill Retirement PLC and a Trustee of the Scar Free Foundation.
In this newly created role at Stonehage Fleming, Simon will work closely with Richard Hill, Chief Executive of Corporate Finance, and the existing team to provide advice to businesses and shareholders, including entrepreneurs and families, at every stage of the corporate lifecycle from acquisitions and capital-raising through to disposals and liquidity events. Simon will be based in the firm’s London office and will report to Anton Sternberg, CEO of the Stonehage Fleming Investments Division.
Commenting on the appointment, Anton Sternberg said: “Advising clients on their commercial interests, including businesses and privately held direct investments, is a core part of our total wealth offering. We are very pleased to have Simon join as Executive Chairman of our Corporate Finance team. He understands our integrated approach to wealth management and his experience in working with a wide variety of clients throughout his distinguished career will be an asset to the Group.”
“I am looking forward to working with Simon again, and drawing upon his experience as we grow the Division,” said Richard Hill, CEO of Corporate Finance at Stonehage Fleming. “We have built a service offering that differentiates Stonehage Fleming and which enables us to support and advise clients of the firm that own businesses or make direct private investments.”
Simon Boadle said: “Corporate Finance is a core part of the Group’s multi-disciplinary family office offering and I look forward to helping develop this business as an increasingly important part of the Group.”
Stonehage Fleming Attracts Key Client Director
Stonehage Fleming, one of the world’s leading independently owned family offices, announces the appointment of Eva Sheppard as a Senior Director within the Investment Management division.
With over 20 years of industry experience, Eva joins Stonehage Fleming from EFG Private Bank where, as Senior Director, she spent five years managing a client portfolio of UK based high net-worth individuals and families. Prior to EFG, Eva looked after corporate and private client relationships for fifteen years at HSBC Private Bank and before that Svenska Handelsbanken, where she was Head of Individual Banking.
At Stonehage Fleming, Eva will work predominantly with one of the firm’s long standing family clients. She will be based in the firm’s London office and will report to Mark Sullivan, Partner.
Commenting on the appointment, Graham Wainer, CEO & Head of Investments London said: “Close relationships and a deep understanding of our clients is at the heart of Stonehage Fleming. Eva’s seniority, her reputation as a trusted adviser, and her experience working with families that span generations and geographies is synonymous with our approach to total wealth management. I am pleased to welcome her to Stonehage Fleming.
Eva Sheppard said: “Stonehage Fleming is truly a pioneer of the family office with its multi- disciplinary advisory model and impressive roster of large international clients. The needs of our clients are constantly evolving and we in turn need to offer broader servicers and a deeper understanding of the issues they may face. Stonehage Fleming is uniquely positioned with their distinctive integrated family office approach. It is an exciting time for the company and it gives me great pleasure to be a part of the journey.”
Stonehae Fleming appoints Chairman of Corporate Finance
With 30 years’ corporate finance advisory experience in the UK and internationally, Simon has led multiple transactions involving mergers and acquisitions, joint ventures, public and private equity fund raisings, debt financings and restructurings. Simon joins from PwC Corporate Finance in the UK, where he was a senior partner and led the public company advisory group, the real estate advisory group and the debt advisory business. Prior to joining PwC, he was a Director with NatWest Markets, based over many years in London, Tokyo and Hong Kong.
Simon’s clients have covered a wide range of industry sectors and have included FTSE100 and mid-market listed companies, private equity houses, family owned companies and family trusts. He is currently a Non-Executive Director of Churchill Retirement PLC and a Trustee of the Scar Free Foundation.
In this newly created role at Stonehage Fleming, Simon will work closely with Richard Hill, Chief Executive of Corporate Finance, and the existing team to provide advice to businesses and shareholders, including entrepreneurs and families, at every stage of the corporate lifecycle from acquisitions and capital-raising through to disposals and liquidity events. Simon will be based in the firm’s London office and will report to Anton Sternberg, CEO of the Stonehage Fleming Investments Division.
Commenting on the appointment, Anton Sternberg said: “Advising clients on their commercial interests, including businesses and privately held direct investments, is a core part of our total wealth offering. We are very pleased to have Simon join as Executive Chairman of our Corporate Finance team. He understands our integrated approach to wealth management and his experience in working with a wide variety of clients throughout his distinguished career will be an asset to the Group.”
“I am looking forward to working with Simon again, and drawing upon his experience as we grow the Division,” said Richard Hill, CEO of Corporate Finance at Stonehage Fleming. “We have built a service offering that differentiates Stonehage Fleming and which enables us to support and advise clients of the firm that own businesses or make direct private investments.”
Simon Boadle said: “Corporate Finance is a core part of the Group’s multi-disciplinary family office offering and I look forward to helping develop this business as an increasingly important part of the Group.”
Stonehage Fleming receives highest accreditation from STEP Employer Partnership Programme
05 Jul 2017
Stonehage Fleming receives highest accreditation from STEP Employer Partnership Programme
Following a rigorous application process Stonehage Fleming has been awarded ‘Platinum Partner’, the highest of the three accreditation levels awarded by the STEP Employer Partnership Programme.
This programme is designed to provide employers of STEP members with a set of quality industry standards to assist with the planning and delivery of the best possible learning experience.
STEP said: “Through achieving this accreditation, Stonehage Fleming demonstrated commitment to providing their staff with high quality learning and professional development opportunities, within a positive work and learning culture. Excellent communication and knowledge sharing is evident throughout the organisation and we are very pleased to see the support and encouragement offered and the value placed on staff training. I would like to congratulate Stonehage Fleming on achieving platinum level accreditation of the STEP Employer Partnership Programme.”
STEP is the global professional association for practitioners who specialise in family inheritance and succession planning. STEP works to improve public understanding of the issues families face in this area and promotes education and high professional standards among its members. Its 20,000 members, spanning 95 countries, include lawyers, accountants and other trust and estate specialists.
Stonehage Fleming hires former Investec man as equity research boss
Stonehage Fleming has appointed Investec analyst Mark Sloan as its director for equity research in its equity management division.
His appointment comes as Stonehage Fleming opens its flagship £500 million Global Best Ideas Equity fund to institutional investors. Sloan joins the firm after almost a year out of the industry. He was most recently at Investec Asset Management, where he spent 10 years before leaving in July 2016.
Read more via Wealth Manager
Stonehage Fleming receives highest accreditation from STEP Employer Partnership Programme
Following a rigorous application process Stonehage Fleming has been awarded ‘Platinum Partner’, the highest of the three accreditation levels awarded by the STEP Employer Partnership Programme.
This programme is designed to provide employers of STEP members with a set of quality industry standards to assist with the planning and delivery of the best possible learning experience.
STEP said: “Through achieving this accreditation, Stonehage Fleming demonstrated commitment to providing their staff with high quality learning and professional development opportunities, within a positive work and learning culture. Excellent communication and knowledge sharing is evident throughout the organisation and we are very pleased to see the support and encouragement offered and the value placed on staff training. I would like to congratulate Stonehage Fleming on achieving platinum level accreditation of the STEP Employer Partnership Programme.”
STEP is the global professional association for practitioners who specialise in family inheritance and succession planning. STEP works to improve public understanding of the issues families face in this area and promotes education and high professional standards among its members. Its 20,000 members, spanning 95 countries, include lawyers, accountants and other trust and estate specialists.
Stonehage Fleming hires former Investec man as equity research boss
Stonehage Fleming has appointed Investec analyst Mark Sloan as its director for equity research in its equity management division.
His appointment comes as Stonehage Fleming opens its flagship £500 million Global Best Ideas Equity fund to institutional investors. Sloan joins the firm after almost a year out of the industry. He was most recently at Investec Asset Management, where he spent 10 years before leaving in July 2016.
Read more via Wealth Manager