Forging a next-gen family office whilst honouring legacy | Bo Zhuang

In today’s ROCast, we are speaking with Bo Zhuang, one of the three Managing Partners at Initium within the Hayson & Huang Family Office.

You may be thinking the name Hayson within the circles of property development rings a bell. You would be right, as the Hayson Group, founded by Ian Hayson, has established a 40-year reputation for setting industry precedents. Most notably, Hayson was the first private developer to recognize the potential of Darling Harbour. Their Darling Harbour development has been a catalyst for the transformation of the inner city and was formally opened by the Queen of England. 

Other high-profile projects include Sky Garden in Sydney’s Pitt Street Mall, the Manly Wharf retail development, Kogarah Town Shopping Centre, Cremorne’s Metropole Shopping Centre, and Hillsdale’s Southpoint Shopping Centre.

On that note, you may not be familiar with the Huangs. With close to three decades of operation both internationally and domestically, they are just as well regarded. The Huang Group, founded by James Huang, stands as a multifaceted conglomerate, uniting various entities spanning property, financial investments, and community-based developments. The Huang Group has founded a strong legacy and reputation within the Chinese and Australian Chinese communities, marked by the creation of several renowned communities.

Why I wanted to get Bo on is that, alongside his partners Max Hayson and Victor Huang, the sons of the prominent patriarchs mentioned, they are quite literally embracing the essence of next-gen multi-generational wealth through a joint family office. Join us and hear from Bo’s extensive experience in the banking space as we discuss how Initium has gone about forging this new generation whilst honouring family legacy.

Bo also unpacks the how. Initium invests primarily in retail property centers, focusing predominantly on prime locations on the eastern seaboard such as Bondi, Mosman, Manly, and St Leonards. Meanwhile, the H&H Family Office has expanded its interests across nearly all financial services, creating solutions for High Net Worth families. 

These include:

• The Commercial Property Fund, which targets a return of 7.5% to 8.5% p.a., with FUM of $53 million, 100% weighted occupancy, 20% co-investment, and a 5-year weighted average lease expiry.

• The Private Credit Fund, with a direct deal approach, which targets double-digit returns p.a.

• The Mosman Development Project Fund, with $15 million raised, projects a 15% return p.a., with 30% to 50% co-investment and a 2 to 4-year period.

• Initium also provides access to other upcoming direct property development projects.

• Expansion via organic growth and acquisition into the High-Net-Worth Wealth Management and financial advisory space.

So, before we get into this podcast, please remember this podcast is intended for entertainment purposes only and should not be taken as financial advice. Be sure to listen to the disclaimer at the end of this ROCast, and keep your feedback coming.

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