The family office of Microsoft Corp. co-founder Paul Allen has spun out its investment-management group into a standalone business catering to the world’s super-rich.
Vulcan Capital is now Cercano Management and oversees investment assets for the estate and family foundation of Allen, who died in 2018, according to a representative of the family office, Vulcan Inc. Cercano Management is led by former Vulcan Capital chief investment officer Chris Orndorff and allocates across public markets, private equity, private credit and real estate, according to a November registry filing.
The Bellevue, Wash.-based company describes itself as an investment-advisory firm to ultra-high-net-worth individuals, and clients typically need at least $100 million to establish an account with Cercano. Clients also can include foundations tied to wealthy families.
Allen had no spouse or children to inherit his $26 billion empire, though his sister, Jody Allen, is Vulcan’s chair.