E214: Inside Look into a $14B Multi-Family Office

In this episode of the How I Invest podcast, host David Weisburd interviews Greg Brown, co-CEO of CapRock, a multi-family office overseeing $14 billion in assets. They discuss CapRock's approach to serving ultra-high-net-worth families, emphasizing access to private markets, tax efficiency, and bespoke financial strategies. Brown explains how CapRock acts as both the family CFO and CIO, managing balance sheets, forecasting liquidity, and aligning investments with client values. The conversation covers the increasing trend of high-net-worth individuals investing in private markets, the challenges and complexities involved, and the strategies CapRock employs to manage cash flow, minimize taxes, and optimize investment outcomes for its clients. They also touch on the democratization of private markets, private credit, and the use of tools like private placement life insurance (PPLI) for tax-advantaged investing.