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Floreat Wealth Management
Floreat Wealth Management is a multi-family office founded by Lord Michael Spencer.
Floreat Wealth Management
Floreat Wealth Management was founded in 2008 by Lord Michael Spencer, who previously created ICAP, the world's largest interdealer broker, which he sold to CME Group in 2018 after a spin-off into NEX Group. The firm began as a single-family office for the Spencer family but expanded to a multi-family office serving a select group of ultra-high-net-worth families. The wealth originates from Spencer's entrepreneurial success in financial markets technology and brokerage. The firm allocates capital through a direct co-investment model and fund-of-funds approach across private equity, real estate, infrastructure, hedge funds, and private credit. Floreat targets long-term capital appreciation and has taken positions in energy transition and digital infrastructure, co-investing with established GP partners. They maintain a geographic focus on Europe, North America, and Asia-Pacific, with offices supporting deal flow in each region. The firm operates offices in London, Singapore, Zug, and Hong Kong, staffed by approximately 35 professionals. Lord Michael Spencer continues as chairman, while Jonathan Davis serves as Chief Investment Officer. Floreat has no managed AUM figure publicly disclosed, but market sources estimate assets under management in the $10-20 billion range (Altss estimate). The firm is affiliated with the Floreat Group, which includes a philanthropic foundation. A structural differentiator is Floreat's hybrid model: it maintains the privacy of a single-family office while achieving scale and deal access through its multi-family network. This allows the firm to commit meaningful capital to private equity fund managers and direct deals while offering that same access to its family clients without the administrative overhead of a full institutional investment office.
General information
Firm type
Multi Family Office
Year founded
2008
AUM
Undisclosed (Altss estimate)
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Additional offices
Singapore · Zug · Hong Kong
Principals
Lord Michael Spencer
Founder
Jonathan Davis
Chief Investment Officer
Edmund Truell
Chairman
Sector focus
Frequently asked questions
Who runs investment decisions at Floreat Wealth Management?
Jonathan Davis serves as Chief Investment Officer and leads the investment team. Lord Michael Spencer, the founder, remains involved as Chairman, providing strategic oversight. The firm operates with a professional investment committee process distinct from a single-family decision structure.
How does Floreat source proprietary deal flow?
Floreat sources investments through its network of GP relationships cultivated over 15 years, direct outreach to founder-led companies, and co-investment rights negotiated by committing to fund vehicles. Its multi-family office structure gives it access to deal flow that single-family offices may not see independently.
Is Floreat structured as a single family office or multi-family office?
Floreat is a multi-family office. It began as a single-family office for Lord Michael Spencer in 2008 but opened to select families to achieve scale, deal access, and operational efficiency. It serves a small, curated group of ultra-high-net-worth families alongside the Spencer family capital.
Does Floreat participate in fund commitments or only direct deals?
Floreat participates in both fund commitments and direct co-investments. The firm allocates capital to private equity and hedge fund partnerships while also pursuing direct equity investments in infrastructure, real estate, and company buyouts alongside those GPs.
What investment stages does Floreat typically target?
Floreat targets mature, cash-flow-generating assets across private equity buyouts, real estate, and infrastructure. It is not primarily a venture capital investor, though it may participate in growth-stage deals through relationships with buyout firms that have expansion capabilities.
Where does the underlying wealth come from for Floreat?
The founding wealth comes primarily from Lord Michael Spencer's creation and sale of ICAP (now NEX Group). Spencer founded ICAP in 1986 and grew it into the world's largest interdealer broker before selling to CME Group in a $5.5B deal in 2018. Additional capital comes from the network of families the firm serves.
Does Floreat maintain philanthropic structures, and how are they separated?
Yes, the Floreat Group includes a philanthropic foundation that is structurally separate from the investment office. The foundation focuses on education and entrepreneurship in the UK, funded by Lord Michael Spencer and other family clients. Investment decisions for the foundation are handled by the same professional investment team.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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