Tattarang alumni reunite in new Perth advisory firm targeting hidden wealth
Former Tattarang boss Andrew Hagger and other alumni from Andrew and Nicola Forrest’s business orbit have reunited in a new advisory firm targeting WA’s hidden wealth.
Famille Capital – Famille is French for family – has underlined Cottesloe’s growing status as an investment hub by setting up in an office on Stirling Highway, near the Napoleon Street coffee and retail strip, while hiring staff in Sydney and Melbourne to promote its national ambitions.
Mr Hagger, Famille’s executive chairman, is joined by Stephen Daly, his former chief operating officer at the Forrests’ Tattarang private investment arm, as chief executive.
The one-time chief financial officer of Fortescue Future Industries, former Reserve Bank deputy governor Guy Debelle – a long-time friend and University of Adelaide contemporary of Mr Hagger – has been named as chair of the startup’s high-powered advisory board.
Famille will eventually be owned by its staff.
The firm is focused on the high net-worth investors and family offices sitting on multi-billions of dollars in quiet private capital derived from inherited fortunes or record equity markets and mining booms.
Four family offices have already signed up to the new firm.
“No matter how large the wealth and how sophisticated the family office may be, there is always room for extra value and added impact,” Mr Hagger said.
The former NAB senior executive and Mr Daly are drawing on contacts established after arriving in WA in 2019 to work with Tattarang and the Forrests’ philanthropic organisation, Minderoo.
“We didn’t know a lot of people, we had some relationships, but we obviously had a core focus on furthering the Forrest family,” Mr Hagger said.
“And over time, we’ve come to know other families and other groups”.
He said there were distinct advantages in basing the firm in Perth and setting up in affluent Cottesloe, close to much of WA’s uber-wealthy and near the family offices they operate.
“There are obviously people flying in (to advise) … but we know that where possible, Perth families want local teams serving them, providing those teams have a global mindset and an institutional reach whenever it is needed,” Mr Hagger said. “And that’s what we’re looking to provide.”
Famille already has six staff, including in Melbourne and Sydney, where it has taken on experienced investment bankers in Alex Nikov from JPMorgan and Stephanie Cain, formerly of venture capital firm AirTree.
The advisory board also includes Jenny Wheatley, the chief executive of Cambooya, the multi-generational family office set up by the late Sir Vincent Fairfax, part of the Fairfax media family.
Mr Hagger said Famille had deliberately gathered a wealth of diverse experience across both private and institutional investment markets.
“We see that as a very important ingredient for the firm because high net-worth families are often looking for institutionally quality products, and that whole interplay requires experience and knowledge in private and institutional markets,” he said.
Famille joins myriad advisory firms and funds who have set up in Cottesloe, including early arrival Willy Packer, whose Packer & Co manages WA’s biggest locally-run investment fund, Russell Delroy’s resources-focused Nero Fund, Katana Asset Management and Indian Pacific Funds Management. Then there is family offices including Tim Roberts’ Warburton Group and social gaming billionaire Laurence Escalante’s Lance East Office.
A co-tenant in Famille’s Cottesloe office is former Tattarang chief financial officer Bree Fraser, who has set up her own advisory firm focused on high net-worth women.
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