A Melbourne-based investor and entrepreneur Peter Scanlon has opened up his family office to welcome investments from outside wealthy families.
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Scanlon has opened his family office Taverners Group to set up a new company, christened Hume Partners, which will function as an investment house and a multi-family office set up.
The new business will manage investments for Scanlon and other high-net-worth individuals and families with more than A$20m of investible funds.
Hume Partners will invest across a broad range of asset classes for its clients, either managing the funds internally or selecting from a small range of external managers.
The new firm will be led by CEO Ross Burney, who has worked for Scanlon for five years along with CIO Matt den Elzen and CFO Kate Wilkie.
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By GlobalDataScanlon said to Australian business website BRW: "Part of it is about having a succession plan in place. My family may not want to do what I’ve been doing with Taverners Group, but they have the choice to do so if they want to.
"The investments I have, and the [Scanlon] Foundation will continue to be managed by the team. What I’m doing is giving them three years to make a go of it as a business, which I think they will."
