Family office direct deals

Family offices increasingly invest directly into private companies, operating businesses and real assets. Direct deals can offer access and control — but a relationship-led transaction still needs the same legal discipline as any institutional one.

What to get right

• Investment structure. The right investing entity, with the tax, governance and liability implications understood.
• Due diligence. Legal, financial, tax, commercial and regulatory scope, agreed early.
• Founder alignment. Incentives, restrictions and governance that match the investment thesis.
• Documentation. Heads of terms, subscription or sale documents, a shareholders’ agreement, and disclosure.
• Portfolio oversight. Reporting, consent rights and post-completion support.

A short checklist

• Identify the investing entity and who has signing authority.
• Avoid premature exclusivity.
• Scope the diligence before incurring major costs.
• Negotiate governance and information rights.
• Plan post-completion reporting and intervention rights.

Common traps

• Investing through the wrong vehicle.
• Under-scoped diligence because the deal came through a trusted contact.
• Informal side arrangements.
• No route to exit or to break a deadlock.

We support family offices on direct investments, minority stakes, acquisitions and the legal issues that follow inside portfolio companies.