Thai family offices expected to shift assets as new generation takes over

Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.

[email protected]

Dec 07, 2023

1 year ago

Thailand’s wealthy families, who have long emphasized investing in real estate, will start focusing on more risky sectors as a younger generation takes over their family offices.

“Patriarchs [first-generation wealth creators] were good at traditional investments, but the younger generation is willing to take more risks,” Shiraz Poonevala, head of investments at the single-family office GP Group, told Asian Investor. “So I do foresee a huge change in the direction of where the investments will go.”

Among those new sectors is digital assets, with more family offices in Thailand investing in cryptocurrencies and nonfungible tokens.

The younger generation is also focusing on corporate social responsibility, ESG and impact investing, Poonevala said.

Since many wealthy young Thais have studied abroad, they are pushing to expand their family offices overseas. Recently, the Chearavanont family, one of the country’s wealthiest clans and owner of the CP Group, announced that it plans to move to Hong Kong.

Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.