The over $2 trillion private credit market has emerged as an investment focus for Callan Family Office clients, the firm’s partner and CEO, Jack Ginter, tells Crain Currency.
“One of the areas that we’re particularly interested in right now are the private credit markets and clients accessing that through private vehicles, private debt managers,” Ginter said. “That’s an area that I think is informed by where we are in the current economic cycle.”
The private credit market, which spans nonbank financial institutions lending to corporate borrowers, reached $2.1 trillion in global assets and committed capital last year, according to the International Monetary Fund.
“Many of our clients are invested in private equity, private debt in addition to public markets and fixed-income markets, given their ability for long-term time horizons and the ability to take that level of risk,” Ginter said.
The Callan Family Office recently surpassed $5 billion in assets under management, with an average relationship of $100 million with its ultra-high-net-worth clients. Callan’s Endure program also focuses on providing family governance and educational services to clients.
“We have a series of programs where we work with families, and the root of it is typically around communication, education, and then the third area is really helping to prepare them to be stewards of this wealth,” Ginter said. “Whether it's this liquid wealth that we're managing or operating businesses, [it's] how we think about working with those families over time.”
The Callan Family Office launched in February 2022 as an independent RIA through its licensing deal with Callan LLC, a San Francisco-based consulting firm that has advised more than $4 trillion in assets. A recent Cerulli survey found that high-net-worth investors prioritized affiliation with national brands when selecting wealth advisers