The owner of Crain’s New York Business has launched Crain Currency, a weekly newsletter serving family-owned businesses, family offices and family philanthropies as well as their professional advisers.
A companion website and invitation-only networking platform are planned to launch in the fall.
KC Crain, president and chief executive of Crain Communications, said the publication provides “a new trusted resource for families managing wealth.” Crain Communications has been family-owned for 106 years.
The newsletter debuted June 29 and later this year Crain Currency will add a website and invitation-only networking platform.
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-family 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 led to calls for more rigorous oversight from leaders including Rep. Alexandria Ocasio-Cortez, as explained in the first issue of Crain Currency.
This story first appeared in our sister publication, Crain's New York Business.