Episodes
How Family Offices Are Buying Up Self-Storage
Family offices are piling into self-storage, and the numbers are striking. In this episode, Lucas and Luna unpack the economics behind the boom: why a fragmented market of independent operators is attracting billions, how the average 300-unit facility generates steady cash flow, and what the rise of climate-controlled units in sunbelt cities tells us about where the demand is heading. They also get into the gritty details — the 93 percent average occupancy rate, the 4.2 percent annual rent…
Why Family Offices Are Buying Up Car Washes
In Episode 159 of Family Office Conversations, Lucas and Luna explore the surprisingly attractive economics of car washes for family offices. With steady cash flows, low maintenance requirements, and a fragmented market ripe for consolidation, car washes have become a quiet but compelling asset class. Lucas breaks down the typical investment structure, including how family offices partner with experienced operators, the role of real estate, and the impact of subscription models on revenue…
Why Family Offices Are Buying Golf Courses
In this episode of Family Office Conversations, Lucas and Luna explore a surprising trend: family offices are quietly buying up golf courses. They dive into the economics of golf course ownership, from the shift from private clubs to daily-fee models, to the rising demand for affordable public golf. Using the example of a struggling municipal course in Ohio that got a second life when a family office stepped in, they explain why these investors see value where traditional operators see risk.…
Why Family Offices Are Investing in Royalty Streams
In this episode of Family Office Conversations, Lucas and Luna explore why family offices are increasingly turning to royalty streams as a way to generate steady, inflation-linked income. They dive into the mechanics of music catalog royalties, focusing on the recent trend of artists selling their catalogs to investment vehicles backed by family offices. Lucas breaks down the numbers: how a hit song can generate millions in annual royalties, and why the economics work for patient capital. They…
How Family Offices Are Buying Up Data Centers
In this episode of Family Office Conversations with Fexingo, Lucas and Luna dive into the quiet but massive shift of family offices into data center investments. With the AI boom demanding unprecedented computing power, data centers have become the new 'trophy assets' for private capital. But it's not just about buying a building—it's about power, land, and long-term leases with hyperscalers. Lucas breaks down why family offices are uniquely suited for these capital-intensive, patient…
How Family Offices Are Buying Up Debt Collection Agencies
In this episode of Family Office Conversations, Lucas and Luna explore a quiet corner of the private credit market: debt collection agencies. These firms, once seen as gritty and controversial, are now attracting family office capital due to their recession-resistant cash flows and fragmented industry structure. The hosts discuss a real-world example of a regional agency that was acquired at a five times earnings multiple, the operational improvements that boosted collections by 30 percent, and…
How Family Offices Are Buying Up Insurance Agencies
In this episode of Family Office Conversations, Lucas and Luna drill into a quiet corner of private capital: the wave of family offices buying up independent insurance agencies. They trace the economics — steady cash flows, sticky clients, and a fragmented market of mom-and-pop shops — and walk through a realistic acquisition structure, from valuation multiples to the earn-out that keeps the founder in the seat. They also weigh the risks: interest-rate sensitivity, key-person dependence, and…
Why Family Offices Are Buying Up Independent Pharmacies
In this episode of Family Office Conversations, Lucas and Luna explore a surprising new asset class for wealthy families: independent pharmacies. With the retail pharmacy landscape shifting, family offices are stepping in to acquire these local businesses, attracted by steady cash flows, defensive characteristics, and community goodwill. Lucas breaks down the numbers—median EBITDA multiples, the role of pharmacy benefit managers, and the demographic tailwinds—while Luna challenges the…
Family Offices Are Buying Up Pet Care Franchises
In this episode of Family Office Conversations, Lucas and Luna explore a surprising new asset class for multi-generational wealth: pet care franchises. From doggy daycares to high-end grooming salons, family offices are acquiring these recession-resistant businesses at a record pace. Lucas breaks down the economics, citing the industry's steady 8 percent annual growth and the appeal of predictable cash flows. He explains how single-family offices are using franchise roll-ups to consolidate…
How Family Offices Are Buying Into Private Aviation
In this episode of Family Office Conversations with Fexingo, Lucas and Luna explore the growing trend of family offices acquiring private aviation assets—not just using private jets, but owning the aircraft themselves and even the companies that manage them. They break down the economics: how a $70 million Gulfstream can be justified on a balance sheet, why fractional ownership is losing ground to full ownership among ultra-wealthy families, and how some offices are now investing in charter…
How Family Offices Are Buying Up Radiologist Groups
Family offices have long chased asset-heavy plays like real estate and timberland. But in the last few years, a quieter consolidation has been happening in healthcare: private radiology groups. On this episode, Lucas and Luna break down the economics behind this trend, from the shift to teleradiology to the appeal of recurring, insurance-backed revenue. They walk through a typical deal structure, the regulatory hurdles, and why a specialty that once seemed recession-proof is now attracting…
How Family Offices Are Buying Up Dental Practices
In this episode of Family Office Conversations, Lucas and Luna explore a surprising new frontier for generational capital: dental support organizations, or DSOs. They start with the story of a single dental practice in Ohio that was quietly acquired by a family office-backed group, illustrating how consolidation is reshaping the $160 billion dental industry. Lucas breaks down the economics—how a typical practice generates strong cash flow, why dentists are selling to DSOs (increasing regulatory…
How Family Offices Are Buying Up Aircraft Hangar Portfolios
In this episode of Family Office Conversations with Fexingo, Lucas and Luna explore a niche but growing asset class: aircraft hangar portfolios. Family offices are increasingly acquiring private hangar complexes at general aviation airports, drawn by long-term lease income, low maintenance costs, and the steady appreciation of scarce airport land. We discuss why hangars are becoming an attractive alternative to traditional real estate, how the economics work — including the crucial role of…
How Family Offices Are Buying Storage Facilities
On this episode of Family Office Conversations with Fexingo, Lucas and Luna explore a quiet corner of the alternative-asset world: self-storage. While family offices have piled into data centers and farmland, many are now eyeing the humble storage unit as a recession-resistant, cash-generating investment. Lucas breaks down the surprisingly strong fundamentals—average occupancy above 90 percent, steady rent growth, and low operating costs—and explains why the asset class has become a favorite…
How Family Offices Are Buying Aircraft Leases
In this episode of Family Office Conversations with Fexingo, Lucas and Luna explore why family offices are increasingly drawn to commercial aircraft leasing as an alternative asset class. With airlines seeking flexibility and capital efficiency, lessors have become critical middlemen, and family offices are stepping in where banks have pulled back. Lucas breaks down the economics of a typical lease — how a $60 million jet can generate steady, inflation-linked returns — and discusses the risks…
Family Offices Are Collecting Classic Cars as Investments
Lucas and Luna dive into the growing trend of family offices allocating capital to classic and collector cars. With the global classic car market exceeding $50 billion and the Hagerty index showing double-digit appreciation over the past decade, wealthy families are treating Ferraris and Porsches as alternative assets. The hosts discuss how family offices buy through LLCs, insure at Lloyds, and store in climate-controlled facilities. They also break down the liquidity challenges, the rise of…
Family Offices Are Pouring Millions into Rare Whisky and Wine
Last quarter, a single bottle of The Macallan 1926 fetched $2.7 million at auction — and the buyer was almost certainly a family office. In this episode, we explore why ultra-wealthy families are allocating meaningful capital to rare whisky and fine wine as alternative assets, with double-digit annualized returns that rival private equity. We break down the logistics: auction dynamics, storage costs, authentication risks, and liquidity challenges. Plus, we look at platforms like Vinovest and…
How Family Offices Are Buying Distressed Debt
Family offices are quietly becoming major players in distressed debt markets, buying portfolios of defaulted loans at deep discounts. In this episode, Lucas and Luna break down how one multi-family office deployed $120 million in the first half of 2026, acquiring nonperforming commercial real estate loans from regional banks. They explore the mechanics of working with special servicers, the patience required for restructuring, and why these yields—often in the low teens—appeal to investors with…
How Family Offices Are Investing in Timberland
Today we explore why family offices are increasingly allocating capital to timberland – a real asset that has delivered roughly 13% annualized returns over the past two decades with low correlation to equities. Lucas and Luna discuss the mechanics of investing through timberland investment management organizations (TIMOs), the liquidity considerations for patient capital, and the added revenue stream from carbon credits. Using a concrete example of a midwestern family office committing $150…
How Family Offices Are Investing in Venture Debt
Venture debt has become a $50 billion asset class, and family offices are increasingly filling the gap left by traditional banks after the 2023 regional banking crisis. In this episode, Lucas and Luna explore why these sophisticated investors are drawn to venture debt—offering yields of 12-15% with first-lien collateral—while avoiding the equity risk of early-stage startups. They examine a specific fund that raised $150 million from family offices in early 2026, deploying capital to…
How Family Offices Are Investing in Water Rights
Episode 140 of Family Office Conversations dives into a fast-growing alternative asset: water rights. Lucas opens with a case: a family office tied to a major tech fortune recently spent $30 million on senior rights in the Colorado River Basin. What makes water rights a compelling long-term investment for multigenerational capital? We explore the legal framework of prior appropriation, the economics of scarcity, and why patient investors see water as the new oil. Luna asks whether litigation…
How Family Offices Buy Oil and Gas Mineral Rights
This episode explores why family offices are increasingly acquiring mineral rights to oil and gas wells as a source of long-term, tax-advantaged income. Lucas walks through the mechanics of owning subsurface resource rights, the depletion allowance, and the risks of commodity price swings. Luna highlights a real-world case: a Midwestern family office that built a portfolio of over 200 wells in the Permian Basin, generating consistent cash flow while hedging with a small stake in a midstream…
Family Offices Are Betting on Vintage Watches
In this episode of Family Office Conversations, Lucas and Luna explore how ultra-wealthy families are allocating capital to vintage watches as an alternative asset class. Anchored by a recent Sotheby's auction where a Patek Philippe Ref. 1518 sold for over $3 million, they discuss the market's 15% CAGR over the past decade, the rise of fractional ownership funds like The Watch Collection Fund, and the practical challenges of authentication, storage, and insurance. Lucas explains why family…
Why Family Offices Are Buying Farmland
Farmland has quietly become one of the best-performing alternative assets for family offices, delivering annualized returns of about 11.5% over the past decade—outpacing the S&P 500 with lower volatility. In this episode, Lucas and Luna unpack why wealthy families are allocating billions to cropland: from inflation hedging and food security to the rise of precision agriculture and water-rights complexities. They explore direct ownership versus REITs, the generational appeal of passing down…
Why Family Offices Are Buying Carbon Credits
The voluntary carbon market has quietly grown from a niche idea into a roughly two-billion-dollar market, and some projections put it at fifty billion by the end of the decade. In this episode, Lucas and Luna break down why single-family offices are piling in — not just as a PR play but as a genuine, long-term store of value. They discuss how one family office in Geneva treats reforestation credits like an art collection, the challenges of verification and registry quality, and whether the…
How Family Offices Are Investing in Data Centers
In this episode of Family Office Conversations, Lucas and Luna explore the growing trend of family offices investing in data center infrastructure. With the rise of AI and cloud computing, data centers have become a critical asset class offering stable, long-term returns. Lucas breaks down the capital requirements, the players involved, and the specific strategies family offices use—from direct ownership to co-investing with developers. They discuss the case of a single-family office that…
How Family Offices Are Investing in Private Credit
Episode 134 of Family Office Conversations explores the rapid growth of private credit as an alternative asset class for family offices. Lucas and Luna examine why the market has ballooned to $1.5 trillion globally, how direct lending fills the gap left by traditional banks, and the specific structures that appeal to long-term capital. They break down the risk-return profile, the role of collateralized loan obligations, and whether family offices can sustain their advantage as institutional…
How Family Offices Acquire Patent Portfolios
In Episode 133 of Family Office Conversations, Lucas and Luna examine how single-family offices are acquiring patent portfolios from distressed tech companies and individual inventors. They walk through a real 2025 deal where a midwestern family office paid $8.3 million for 47 semiconductor patents from a bankrupt fabless chip designer, and then licensed them back to the original inventor at a 9.5 percent royalty. The hosts break down the due diligence process, the role of patent assertion…
How Family Offices Are Investing in Music Catalog IP
Episode 132 of Family Office Conversations with Fexingo. Lucas and Luna explore the booming market for music intellectual property as an alternative asset class for family offices. They break down the $1.2 billion acquisition of Bob Dylan's catalog by Universal Music in 2020, explaining the mechanics of publishing rights, master royalty splits, and the net publisher's share. They discuss why family offices are entering this space now—low interest rates, steady cash flows, and inflation…
How Family Offices Invest in Domain Name Portfolios
In this episode of Family Office Conversations with Fexingo, Lucas and Luna explore the niche but lucrative world of domain name investing. They use the case of Mike Mann, who built a $40 million portfolio from thousands of premium one-word domains, and compare it to modern family office strategies that treat domains as digital real estate. The hosts break down the math: a $2.7 million purchase of voice.com, a $12 million portfolio yield, and the risks of renewal fees and traffic drops. They…
How Family Offices Are Investing in Cell Tower Leases
Lucas and Luna explore a quiet corner of alternative investing: family offices buying cell tower ground leases. Lucas breaks down how the economics work — the 30-year terms, the 2% escalators, the low default risk — and why institutions have been buying these assets for years while family offices are just now catching on. He walks through a real-ish case: a single-family office that acquired a portfolio of 42 towers in the Southeast for $8.7 million, netting a 7.2% cash-on-cash return. Luna…
How Family Offices Finance Music Royalty Portfolios
Episode 129 of Family Office Conversations with Fexingo: Lucas and Luna drill into one of the most talked-about alternative assets of 2026 — music royalty portfolios. They break down the mechanics of how a single streaming hit can generate decades of cash flow, walk through a representative deal where a family office paid $22 million for a stake in a songwriter's catalog, and explain why the yield on music royalties is currently 8 to 12 percent — well above investment-grade bonds. They also…
How Family Offices Are Financing Litigation
Episode 128 of Family Office Conversations with Fexingo dives into litigation finance, the $15 billion industry where family offices fund lawsuits in exchange for a cut of settlements. Lucas and Luna break down how a single case—a $500 million patent dispute between two medical device firms—was financed by a single-family office, yielding a 3x return in 18 months. They explore the mechanics: non-recourse capital, portfolio diversification, and the ethical debates. Lucas explains why yields have…
How Family Offices Are Financing Legal Battles
In Episode 127 of Family Office Conversations, Lucas and Luna unpack litigation funding as a booming alternative asset class for family offices. With the global litigation finance market projected to reach $45.2 billion by 2030, single-family offices are increasingly allocating 5-10% of their portfolios to funding commercial lawsuits in exchange for a share of settlements or judgments. Lucas explains the mechanics: how funders like Burford Capital and Omni Bridgeway provide non-recourse…
How Family Offices Invest in Music Royalty Portfolios
Lucas and Luna explore the growing trend of family offices acquiring music royalty portfolios as an alternative asset class. They focus on a specific case: the 2022 acquisition of Hipgnosis Song Fund by Concord, valued at over $1.4 billion, which highlighted institutional appetite for catalog rights. The hosts break down how royalty income works — with advances recouped from mechanical, performance, and synchronization revenue — and why the long, predictable cash flow from evergreen hits like…
How Family Offices Invest in Diagnostic Imaging Centers
Episode 125 of Family Office Conversations with Fexingo. Lucas and Luna explore why ultra-wealthy families are buying stakes in outpatient MRI, CT, and PET scan centers. They break down the numbers: how a single MRI machine can generate $800,000 to $1.2 million in annual revenue, why insurance reimbursement is more predictable than in other healthcare segments, and how the shift toward value-based care makes these assets recession-resistant. They also discuss the regulatory hurdles—like the…
How Family Offices Lend Against Fine Art Collections
Episode 124 of Family Office Conversations with Fexingo dives into art-secured lending — how wealthy families borrow against their paintings, sculptures, and rare books instead of selling them. Lucas and Luna break down the mechanics: how valuations are done, what loan-to-value ratios look like (typically 40-60 percent), and why art loans carry lower default rates than traditional commercial lending. The hosts examine a real-world case: the $150 million loan against the collection of a New York…
How Family Offices Invest in Rare Earth Supply Chains
Episode 123 of Family Office Conversations with Fexingo. Lucas and Luna explore why single-family offices are increasingly investing directly in rare earth element supply chains—from mining and processing to magnet manufacturing. They examine the case of MP Materials, which went public via a SPAC in 2020 and now supplies nearly all US rare earth production, and discuss why family offices are drawn to this opaque, geopolitically sensitive sector. The conversation covers how rare earths are…
How Family Offices Are Lending Against Art Collections
Lucas and Luna explore a quiet but growing corner of wealth management: art-secured lending. Family offices are increasingly using blue-chip paintings and sculptures as collateral for low-interest loans, rather than selling them. The episode unpacks why this appeals to ultra-high-net-worth families — liquidity without triggering capital gains, anonymity versus gallery auction, and the role of specialized appraisers. Specific numbers include the $30 billion art lending market (projected to grow…
How Family Offices Invest in Life Settlement Portfolios
In this episode of Family Office Conversations with Fexingo, Lucas and Luna explore life settlements as an alternative asset class for ultra-high-net-worth families. They break down how family offices buy existing life insurance policies on the secondary market, the mechanics of pricing a policy based on life expectancy and premium costs, and why institutional capital has poured into this space. Lucas walks through a real-world example: a 72-year-old policyholder with a $5 million universal…
How Family Offices Are Investing in Collectible Cars Beyond Supercars
In Episode 120 of Family Office Conversations with Fexingo, Lucas and Luna explore how family offices are acquiring collectible cars as an asset class — moving beyond the supercar craze into rally cars, pre-war classics, and limited-production prototypes. They examine a specific case: the 2026 sale of a 1962 Ferrari 250 GTO for $70 million, and how that single transaction reshaped the asset class. Lucas explains the metrics family offices use — miles driven per year, provenance, rarity indices…
How Family Offices Are Investing in Rare Whiskey Casks
Family offices are increasingly allocating capital to rare whiskey casks as an alternative asset class. In this episode, Lucas and Luna explore the mechanics of investing in maturing Scotch and bourbon, from the role of master blenders to the liquidity challenges of cask ownership. They examine a specific case: a single-family office that committed $15 million to a portfolio of 200 casks from a single Speyside distillery, targeting a compound annual growth rate of 12 percent over 12 years. The…
How Family Offices Are Buying Life Insurance Policies on the Secondary Market
Lucas and Luna dive into the niche world of life settlement investing, where family offices purchase unwanted life insurance policies from elderly policyholders for a cash payout, then collect the death benefit when the insured passes away. They explore the math behind the trade — how a $1 million policy on a 75-year-old with a shortened life expectancy might be bought for $400,000, yielding a potential internal rate of return of 12 to 15 percent. The hosts discuss the role of actuarial tables…
How Family Offices Are Investing in Wine as an Asset Class
In this episode of Family Office Conversations with Fexingo, Lucas and Luna explore the growing trend of family offices investing in fine wine as an alternative asset class. They focus on the Liv-ex Fine Wine 1000 index, which tracks the price performance of top Bordeaux and Burgundy wines, and discuss how wine has delivered annualized returns of roughly 10-12% over the past two decades, with low correlation to equities and bonds. The conversation covers the practical challenges of storage…
How Family Offices Are Investing in Art Storage and Logistics
In this episode of Family Office Conversations with Fexingo, Lucas and Luna explore the niche but essential world of art storage and logistics as an alternative asset for family offices. With the global art market valued at over $65 billion, the need for secure, climate-controlled vaults and transport networks has grown sharply. Lucas breaks down the economics of purpose-built freeports, like those in Geneva and Singapore, explaining how family offices can achieve 6-8 percent net returns by…
How Family Offices Invest in Wine as an Asset Class
Episode 115 of Family Office Conversations with Fexingo digs into fine wine as an alternative investment. Lucas and Luna break down how the Liv-ex 100 index has returned over 13% annually for the past decade, compare wine to traditional art and collectibles, and explain the logistics of storage, provenance, and liquidity. They examine a real case: the 2010 Château Lafite Rothschild, which doubled in price between 2014 and 2024, and discuss why family offices are allocating 3-7% of portfolios to…
How Family Offices Are Investing in Aircraft Fractional Ownership
Family offices have long owned private jets, but a shift is underway: instead of buying whole aircraft, many are turning to fractional ownership models. This episode examines why families worth $500 million-plus are opting for shares in Gulfstreams and Bombardiers rather than full ownership. We break down the numbers: a typical one-eighth share in a Gulfstream G650 costs around $6 million, plus monthly management fees and hourly operating costs — still dramatically cheaper than the $70 million…
How Family Offices Invest in Film Slate Financing
In this episode of Family Office Conversations with Fexingo, Lucas and Luna explore the growing trend of family offices investing in film slate financing. They break down how pooled film investments work, using the example of a $150 million slate from a mid-size studio, and explain the risk-return profile compared to single-film deals. Lucas shares a real-world example where a single-family office committed $20 million to a slate of ten films and saw a 15% internal rate of return over four…
How Family Offices Are Investing in Digital Art and NFTs
In this episode of Family Office Conversations, Lucas and Luna explore how ultra-high-net-worth families are allocating capital to digital art and NFTs, moving beyond traditional collectibles. They examine the case of a single-family office that invested $2.5 million in a generative art collection by the artist Tyler Hobbs, whose Fidenza series on the Ethereum blockchain has appreciated significantly. Lucas breaks down the due diligence process for digital assets, including provenance…
How Family Offices Are Investing in Carbon Credits
In this episode of Family Office Conversations, Lucas and Luna explore the booming market for carbon credits as an alternative asset class. With carbon prices expected to hit $100 per ton by 2030, family offices are increasingly allocating capital to both compliance and voluntary carbon markets. Lucas breaks down the difference between verified emission reductions and carbon removal credits, using real-world examples like the Kasigau Corridor project in Kenya and direct air capture startups.…
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