Automotive News parent starts newsletter for family offices
The owner of Automotive News has launched Crain Currency, a weekly newsletter serving family-owned businesses, family offices and family philanthropies as well as their professional advisers.
The newsletter debuted June 29. A companion website and invitation-only networking platform is planned to launch in the fall.
KC Crain, CEO of Crain Communications, said the publication provides “a new trusted resource for families managing wealth.” Crain Communications has been family-owned for 106 years.
Marcus Baram, a former senior editor at Fast Company, is contributing editor. The newsletter’s founding director is Mary Kramer, formerly group publisher of the Crain City Brands.
More than 10,000 single and multifamily investment offices are thought to exist in the U.S., with many more overseas, presenting a potentially large audience for the new publication. Crain also hopes to target serial entrepreneurs and private equity and venture capital principals.
The family office sector is in the news more often after the collapse of Archegos Capital Management, where founder Bill Hwang bet wrongly on a handful of small and midsize stocks. That has led to calls for more rigorous oversight from leaders including Rep. Alexandria Ocasio-Cortez, D-N.Y., as explained in the first issue of Crain Currency, available at craincurrency.com.