The Hinduja family is partnering with New York-based Focus Financial Partners Inc. to launch a multifamily office that will serve other members of the world’s ultra-wealthy.
Beryllus Capital is a venture between the Hinduja’s conglomerate and Focus Financial and will provide investment management, investment banking and real estate advisory, according to a statement Monday. It will have offices in London, Geneva and Singapore and the co-founders include Amit Kotha, a former managing director in London for enterprise strategic clients at Royal Bank of Canada.
“This is an important strategic alliance," Gopichand Hinduja, co-chairman of Mumbai-based Hinduja Group, said in the statement. “Beryllus Capital will address the bespoke needs of ultra-high-net-worth families on a global scale."
The bulk of the Hinduja’s fortune derives from Hinduja Group, which has investments in finance, media and health care in almost 40 countries, according to its website. The Bloomberg Billionaires Index values the wealth of the family at about $18 billion.
There are more than 10,000 family offices globally, according to accounting firm EY, including those of Alphabet Inc.’s Eric Schmidt and British inventor James Dyson. The vast majority, though, oversee less than $1 billion, often making it more attractive to take a multifamily approach, where they can more easily pool ideas and capital for investments.
“Our strength lies in the long-standing connections that our founding partners have with some of the most influential families in the world," Kotha said.
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