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M2O Private Fund Advisors
M2O Private Fund Advisors was formed in 2009 by John (Jack) and Mary Manning, scions of the family behind the Manning & Napier advisory firm founded in...
M2O Private Fund Advisors
M2O Private Fund Advisors was formed in 2009 by John (Jack) and Mary Manning, scions of the family behind the Manning & Napier advisory firm founded in 1970. The office took its current shape in 2011 when Manning & Napier spun off via IPO, leaving the family's private capital managed independently. In 2012, M2O hired Marcus Frampton—then CIO of the $80 billion Alaska Permanent Fund Corporation—to steer investment strategy from Palo Alto, a signal that the family intended to operate with institutional-grade rigor. The firm deploys capital across private equity, venture capital, hedge funds, real estate, and secondaries. This spans fund commitments to established GPs, direct co-investments, and secondary purchases of limited partner stakes. The portfolio tilts toward technology and innovation-driven companies, reflecting its Silicon Valley headquarters. M2O maintains a presence in Tokyo, where it has cultivated a network among Japanese institutional investors and family offices—an unusual cross-border sourcing advantage for a firm of its scale. The office has participated in venture rounds alongside top-tier firms, though its specific portfolio holdings remain closely held. M2O operates from six offices—Palo Alto, New York, Portola Valley, Charlotte, White Plains, and Tokyo—with the Manning family principals actively involved in governance. The team is lean by design, reflecting a preference for decision velocity over bureaucracy. Adjacent to the family office, the Manning family has historical ties to philanthropic efforts, but no branded foundation operates publicly alongside M2O itself. In 2014, the firm's CIO Marcus Frampton advocated for Alaska Permanent Fund's increase in private equity allocation while simultaneously shaping M2O's private-market strategy—a dual mandate that underscored his credibility in both sovereign and family office circles. M2O's structural differentiator is cross-border, not cross-town. While most mid-sized family offices cluster their networks regionally, M2O operates a legitimate Japan-to-Silicon Valley nexus. This gives the firm a sourcing advantage among Japanese LPs seeking U.S. venture access, and among U.S. GPs looking for Japanese institutional capital—a bilateral bridge few family offices have the staffing or relationships to maintain.
General information
Firm type
Multi Family Office
Year founded
2009
AUM
$500M - $1B (Altss estimate)
Location
Region
North America
Country
United States
City
Palo Alto
Corporate office
Palo Alto, CA, United States
Additional offices
New York, NY · Portola Valley, CA · Charlotte, NC · White Plains, NY · Tokyo, Japan
Principals
Marcus Frampton
Chief Investment Officer
John (Jack) Manning
Principal
Mary Manning
Principal
Sector focus
Frequently asked questions
Who runs investment decisions at M2O Private Fund Advisors?
Marcus Frampton joined M2O as Chief Investment Officer in 2012, having previously served as CIO of the $80 billion Alaska Permanent Fund Corporation. He oversees the firm's venture, private equity, hedge fund, and real asset commitments from the Palo Alto office. The Manning family principals retain ultimate decision authority on large allocations.
How does M2O source deal flow across borders?
M2O's Tokyo office gives the firm an unusual sourcing channel among U.S.-based family offices. The team has built relationships with Japanese institutional investors and family offices seeking co-investment into U.S. venture and growth-stage companies. This cross-border network, combined with the CIO's institutional background at Alaska Permanent Fund, provides access to both LP-led secondary transactions and direct co-investment opportunities.
Does M2O participate in fund commitments or only direct deals?
M2O does both. The firm commits to private equity and venture capital funds as a limited partner, pursues direct co-investments alongside those GPs, and participates in secondary transactions purchasing LP stakes. It also allocates to hedge funds and real estate strategies, operating more like a fund-of-funds with opportunistic direct capability than a pure direct-investment shop.
Where does the underlying family wealth come from?
The capital managed by M2O derives from the Manning family. The family founded Manning & Napier, the registered investment advisory firm established in 1970, and took it public in 2011. M2O was established in 2009 to manage the family's private wealth separately from the public advisory company, leaving the family office with an independent mandate.
What is M2O's known posture on co-investments alongside external GPs?
M2O actively pursues co-investment opportunities alongside its GP relationships, particularly in venture capital and growth equity. The firm's lean structure and CIO-led decision-making allow it to move quickly on co-investment opportunities surfaced through its fund commitments and cross-border network. The Manning family principals take an active role in approving larger co-investment checks.
Which sectors does M2O target for its venture and private equity allocation?
M2O tilts toward technology and innovation-driven companies, consistent with its Palo Alto headquarters and Silicon Valley ecosystem access. The firm's venture capital exposure spans enterprise software, AI/ML, and digital health, while its real asset strategy includes real estate and infrastructure-adjacent investments. M2O has not publicly disclosed explicit sector exclusions.
How is M2O different from commercial fund-of-funds?
M2O does not manage third-party capital—it is exclusively the Manning family's investment vehicle. Unlike commercial fund-of-funds that charge management fees and carry to outside investors, M2O's investment team operates as a cost center for the family, aligning incentives entirely with family wealth preservation and growth rather than asset-gathering.
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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