But the kind of the, the key decision maker other than the principal is going to be this, the CIO 100%. So I mean ultimately the decision maker is the principal. It all just depends because it's their money, right?
Acquiring Minds
Family Offices for Searchers: A Primer
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But it kind of depends how the principal has engaged with the CIO in the office and sort of what the system is like. In many cases the principal is like, just send me a report like once a quarter and whatever you think is good.
And the CIO has almost full discretion. In some cases the principal wants to talk about every deal and be very involved and sort of a two person, you know, process. Right. So again, it can be totally all over the board.
It just depends on the feel. It is very common usually for there to be somewhere in between, right. Where the, the CIO has been brought in to lead the sourcing, underwrite and investment decisions.
They will, with their team, have an investment committee meeting. They'll speak about it. They'll obviously do research, they'll do references, they'll do their due diligence.
They'll spend whatever three or four months on a work on, work on a deal or a fund. This aligns well with their deployment schedule that they discussed. Then they bring it to ic.
They internally approve it in ic. So the four principles and the CIO all love it. The analysts love it.
Everyone, everyone internally is aligned. Then they bring it to their principal, they say, just want to sign off. This went through our ic, we want your blessing.
Principal signs off and a deal is made. What's amazing about family office capital is that can happen in a weekend, right? Or that can happen, you know, that can happen instantly.
It's usually most cases much quicker than it's going to be at the endowment, pension level. There's just no bureaucracy, right? It's the decision makers are actually in the room versus having to go through review boards and yada, yada, yada.
And that's where like the complexities and bureaucracies of, of, of funds and pensions and endowments and all that, you know, that sort of gets in the way. What can be a very quick moving advantage for family offices. So that's why I think you, when you talk to independent sponsors and searchers and operators, they love people that can move quickly, right?
They'll be like, I love the blank family. They're smart, they're thoughtful, they give me a quick decision. Like that's always a thing because as you know, when you're putting together the deal and the equity and, and the debt and the loi, like you just need a yes or no very quickly.
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