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Sergey Brin’s Family Office Names Mary Young as Head of Investments

(Bloomberg) — Bayshore Global, the family office of Google co-founder Sergey Brin, has appointed Mary Young as chief investment officer, helping a former Goldman Sachs Group Inc. analyst oversee the fortunes of one of the world’s most influential billionaires. promoted to position. ,

Young, 35, joined the Silicon Valley firm nearly a decade before Goldman Sachs and served as deputy CIO for the past two years, according to her LinkedIn profile. Young and a Bayshore representative did not respond to requests for comment.

According to the Bloomberg Billionaires Index, 48-year-old Brin has a net worth of $111.1 billion, largely thanks to his 6% stake in Alphabet Inc., which is worth about $97 billion. For years, he held onto the stock, but sold more than $500 million last year, the most since 2016.

Bayshore helps manage the fortune of the world’s seventh richest man from Los Altos, California. It has no website and few details have been revealed about its investments.

Read more: How New Wealth, Fewer Rules Fuel Family Office Boom: QuickTake

Beginning in 2005, the office is named after the part of Mountain View, California, where Google is headquartered.

Over the years, he has hired a Navy SEAL, a yacht captain, an archivist and an estate manager for security. In addition to looking after the lifestyles of Brin and his family, Bayshore also invests in equities, commercial real estate and private equity, according to LinkedIn employee profiles, who often say they work for an unnamed private family office. We do.

Read more: Inside a billionaire’s family office: Navy Seals, yacht captain

One of its early works was Rob Featherstonehog, a longtime advisor to wealthy families, who oversaw investments and helped establish the Brin Wojcicki Foundation. Brin and Anne Wojcicki divorced in 2015, and has since married Nicole Shanahan. Featherstenhog has stepped in to help run Belvoir Investments Corp. To the Desmarais family of Canada.

Bayshore opened an outpost in Singapore in late 2020, with Young listed as director. In December, he added Hemant Mandal to make climate-change investments such as renewable energy and transition technologies, his LinkedIn profile shows. Mandal, who previously worked for International Finance Corp., did not return messages for comment.

George Pavlov, a former venture capital executive, is the current chief executive officer who oversees Bayshore, including its philanthropy. At the 2019 Milken Institute Global Conference, he indicated some of its priorities, such as neurodegenerative disease and criminal justice reform.

During a panel discussion, he said, “Part of our role is to invest as much risk as the government is willing to take and invest in things earlier than most people, knowing that there is a strong possibility of losing your money.” “

According to the filing, the Sergey Brin Family Foundation had more than $2.5 billion in assets at the end of 2019, with a sizable portion of that Alphabet stock. It also invested in hedge funds and private equity.

While family offices have long been used by dynastic clans in Europe and North America, Bayshore took shape as a wave of vast new fortunes emerged from Silicon Valley, Wall Street and China.

Now thousands are in operation, ranging from those employing a handful of people to highly sophisticated operations.

Moose Partners, which oversees the fortunes behind the channel, has invested in venture funding and private equity. Blue Pool Capital oversees funding for the founders of Alibaba Group Holding Ltd. and recently paid $188 million for the New York penthouse, while Soros Fund Management oversees $28 billion in net assets.

“The last two decades have been accompanied by an increase in ultra-high net worth individuals, as well as an increase in the number of family offices,” said Rebecca Gooch, senior director of research at Campden Wealth in London. “As the wealth management vehicle of choice for the affluent, family offices have risen to prominence due to their proven ability to preserve and grow wealth for present and future generations.”

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