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FSB
FSB operates as the private investment arm for Stephen Ross, whose wealth originates from Related Companies — the real estate developer he founded in 1972...
FSB
FSB operates as the private investment arm for Stephen Ross, whose wealth originates from Related Companies — the real estate developer he founded in 1972 that has reshaped urban skylines with projects like Hudson Yards in New York and The Grand in Los Angeles. The firm maintains offices in Southfield, Michigan, New York, and Greenville, South Carolina, reflecting Ross's deep ties to the Midwest, his core real estate operations, and the broader Sun Belt. Unlike Related, which manages capital for institutional partners, FSB deploys Ross family capital directly, with a lean, private posture that shields portfolio details from public view. The firm constructs a portfolio spanning venture capital, growth equity, and sports-related investments that leverage Ross's operational network and the ecosystem around his NFL franchise, the Miami Dolphins. Public records and news reports confirm direct venture investments through entities linked to FSB and Ross personally, participating in funding rounds for technology companies like Swarm Technologies and Bodhi, a residential solar platform (per SEC filings). The office also holds interests in sports-adjacent ventures tied to Hard Rock Stadium and the Formula 1 Miami Grand Prix, positioning it at the intersection of real asset development and live entertainment. Geographic focus concentrates on US-based opportunities, with capital drawn to markets where Related's footprint or Ross's operating relationships provide an information edge. FSB's team operates without a standalone website or public-facing investment staff directory, keeping headcount undisclosed. Its New York outpost connects to Related's Columbus Circle headquarters, while the Greenville office links to Ross's minority stake in the NFL's Carolina Panthers and broader southeastern business interests. The office does not disclose an affiliated foundation or donor-advised fund structure, though Ross's personal philanthropy flows through the Stephen M. Ross Foundation and major gifts to the University of Michigan (per university press releases). In 2023, Ross extended his sports portfolio by deepening his stake in the broader sports ecosystem, with FSB serving as the structuring vehicle for select private investments adjacent to the Dolphins and the Miami Grand Prix franchise. What separates FSB from other single family offices is its tight coupling to an operating company — Related Companies — while maintaining a separate capital base and investment committee that does not report to Related's institutional partners. This architecture allows Ross to pursue venture-stage bets and sports-franchise adjacency plays that neither a public REIT nor a pure institutional fund could comfortably hold, creating a hybrid structure where the family office functions as the exploratory arm for long-duration, relationship-driven deals outside the core commercial real estate mandate.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Southfield
Corporate office
Southfield, MI, United States
Additional offices
New York, NY · Greenville, SC
Principals
Stephen Ross
Founder and Chairman of Related Companies
Sector focus
Frequently asked questions
Who runs investment decisions at FSB?
Stephen Ross is the principal decision-maker, supported by a lean internal investment team operating without a public-facing CIO. The office functions as Ross's private capital vehicle, separate from the institutional asset management operations of Related Companies.
Is FSB structured as a single family office or does it operate more like a venture firm?
FSB is a single family office that deploys Stephen Ross's personal capital. While it participates in venture rounds — including investments in Swarm Technologies and Bodhi — it does not raise outside funds or charge management fees. The structure gives Ross discretion to back long-duration, relationship-driven deals without reporting to limited partners.
How does FSB source proprietary deal flow?
The office sources through the Ross family network, Related Companies relationships, and the sports ecosystem around the Miami Dolphins, Hard Rock Stadium, and the Formula 1 Miami Grand Prix. Co-investors and deal sponsors often come through Ross's roster of business partners built over five decades in real estate development and professional sports ownership.
What investment stages does FSB typically target?
FSB invests across venture and growth equity stages. SEC filings show the office participating in early-stage technology rounds, while its sports-related investments target mature, cash-flowing assets tied to live events and stadium-anchored development. The office does not publish a defined stage mandate.
How is FSB related to Related Companies?
FSB is the private investment vehicle for Stephen Ross, who founded Related Companies. The two entities are legally separate — FSB manages Ross personal and family capital, while Related operates as a private real estate developer and fund manager for institutional investors. FSB's New York office is located near Related's headquarters, but its investment committee and portfolio operate independently.
Does FSB participate in fund commitments or only direct deals?
FSB's known investment activity concentrates on direct deals, including venture capital co-investments and sports-franchise equity. The office does not publicly disclose a fund-of-funds program, and no public filings surface FSB as a limited partner in third-party private equity or venture funds, though allocations to external managers are possible given the office's private posture.
Does FSB maintain philanthropic structures, and how are they separated?
FSB itself does not operate as a philanthropic entity. Stephen Ross's charitable giving flows through the Stephen M. Ross Foundation and direct gifts — including over $400 million to the University of Michigan across his lifetime (per university records) — which are legally separate from the investment office.
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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