Teaching
How Family Offices (Should) Invest
Foundational and Advanced tracks
A practitioner program on the family-office investment process, in two tracks. The Foundational track (11 sessions) covers governance and objectives, building up to the Investment Policy Statement capstone. The Advanced track (6 sessions) tackles the modeling choices a CIO must defend before an investment committee: capital market assumptions, construction beyond mean-variance, illiquids under stress, concentrated legacy holdings, and non-USD base currency. Global frameworks with a deliberate Brazilian emphasis, built around a recurring Brazilian family-office case.
Topics
- The investment process map, governance, and objectives
- Spending, liquidity budgeting, and tax-aware investing
- Strategic asset allocation and the total-portfolio approach
- Illiquid investments: private markets, directs, co-investment
- Capital market assumptions and SAA under uncertainty (Advanced)
- Black-Litterman, risk parity, and the governance each implies (Advanced)
- Concentrated legacy holdings and non-USD base currency (Advanced)
- The Investment Policy Statement capstone
Audience
Foundational: family-office principals and investment staff. Advanced: CIOs, deputy CIOs, and investment-committee members.
Materials
Syllabi, course design documents, and annotated reading lists in English and Portuguese; sessions pair concept lectures with applied Excel labs.
Each session is roughly two hours of concept plus a one-hour applied Excel lab, built around a recurring fictional Brazilian family office formed after a corporate liquidity event. The Foundational track builds to an Investment Policy Statement capstone. The Advanced track builds to an integrated capstone covering attribution, sustainable spending, and the full modeling stack.