Family offices, the private investment arms of single families, are also shifting to profit shares as a way to better align the incentives of the staff with the family.
"Family offices are competing for talent against each other, and against traditional private equity, hedge funds and venture capital."
Family offices are increasingly offering lucrative shares of equity and deal profits to staff amid a growing battle for talent, according to a top family office attorney.
They often pair co-investments with profit shares to create both upside and potential downside to staff.
Because they serve a single family, family offices have more flexibility than many companies when it comes to designing pay plans.
Persons:
McCurry, Patrick McCurry, McDermott Will, Emery, they're, Robert Frank, that's
Organizations:
UBS, Office
Locations:
Chicago