Marie Young has been named chief investment officer of Bayshore Global, the family office of Google co-founder Sergey Brin, elevating the former Goldman Sachs Group Inc. analyst to a post overseeing the fortune of one of the world’s most powerful billionaires. According to her LinkedIn page, Young, 35, joined the Silicon Valley firm from Goldman Sachs nearly a decade ago and served as deputy CIO for the previous two years. Young and a representative from Bayshore did not reply to calls for comment. Brin, 48, has a net worth of $111.1 billion, according to the Bloomberg Billionaires Index, which is mostly due to his $97 billion 6 percent share in Alphabet Inc. He hung on to the stock for years, then sold it for more than $500 million last year, the most since it was first issued in 2016.
Bayshore assists the world’s seventh richest individual, who hails from Los Altos, California. It doesn’t have a website, and little information about its investments has surfaced. The office, which opened in 2005, is named after a neighborhood in Mountain View, California, where Google is located. It has hired a Navy Seal for security, a yacht captain, an archivist, and an estate manager over the years. According to LinkedIn profiles of staff who commonly indicate they work for an anonymous private family office, Bayshore invests in equities, commercial real estate, and private equity in addition to looking after the lifestyle of Brin and his family.
Rob Fetherstonhaugh, a long-time counsel to wealthy families who supervised investments and helped establish the Brin Wojcicki Foundation, was one of the company’s first hires. Brin divorced Anne Wojcicki in 2015, and he married Nicole Shanahan since then. Fetherstonhaugh has moved on to work for Canada’s Desmarais family at Belvoir Investments Corp. Young is identified as the director of Bayshore’s Singapore office, which launched in late 2020. According to his LinkedIn profile, it hired Hemant Mandal in December to make climate-change investments such as renewables and transition technologies. Mandal, who worked with the International Finance Corp. earlier, did not respond to inquiries seeking comment.
George Pavlov, a former venture capital executive, currently serves as the chief executive officer of Bayshore, which includes its philanthropy. He mentioned several of the institute’s goals during the 2019 Milken Institute Global Conference, including neurodegenerative illnesses and criminal justice reform. During a panel discussion, he stated that part of our responsibility is to “take more risk than the government is ready to take and invest in things earlier than most people would, knowing that there’s a good chance you’ll lose your money.” According to records, the Sergey Brin Family Foundation had more than $2.5 billion in assets at the end of 2019, with a large amount of it in Alphabet stock. It also made hedge fund and private equity investments.
While dynastic dynasties in Europe and North America have long employed family offices, Bayshore arose as a wave of large new fortunes poured in from Silicon Valley, Wall Street, and China. There are now thousands in operation, ranging from small operations using only a few people to extremely sophisticated enterprises employing thousands. Mousse Partners, the company in charge of Chanel’s money, has made investments in hedge funds and private equity. While dynastic dynasties in Europe and North America have long employed family offices, Bayshore arose as a wave of large new fortunes poured in from Silicon Valley, Wall Street, and China. There are now thousands in operation, ranging from small operations using only a few people to extremely sophisticated enterprises employing thousands.
Mousse Partners, which manages Chanel’s money, has invested in venture capital and private equity. Blue Pool Capital, which manages money for Alibaba Group Holding Ltd.’s founders and recently paid $188 million for a New York penthouse, and Soros Fund Management, which manages $28 billion in net assets, recently spent $188 million for a New York penthouse. “Over the last two decades, the number of family offices has increased in tandem with the rise in ultra-high net worth individuals,” said Rebecca Gooch, senior director of research at Campden Wealth in London. “Family offices have risen to prominence as the wealth management vehicle of choice for the wealthy due to their proven capacity to maintain and build wealth for current and future generations.”