TBG Investing

Spiro Latsis, son of the late shipping magnate John Latsis, leads TBG Investing as its principal. The firm has historically maintained a lean structure, with investment decisions centralized under his direction from the Zurich headquarters. No external CIO or investment committee structure has been publicly disclosed.

The Latsis family fortune originates in shipping, built over generations and expanded significantly under John Latsis, who became one of Europe's largest private shipowners. The family later diversified into banking through stakes in institutions such as EFG International. This dual shipping-and-banking base underpins the capital deployed by TBG Investing.

The Latsis Family Foundation operates as a separate philanthropic vehicle alongside the investment office. The foundation has historically funded educational, cultural, and scientific initiatives, including academic chairs and research grants in Switzerland and Greece. It is structurally distinct from the investment activities run through TBG.

TBG's approach spans stages: it commits to external venture capital and growth equity funds, participates in direct private equity deals, and holds direct real estate assets. The venture exposure tends to be fund-driven rather than direct early-stage company investments, while the direct deals often align with the family's historical domain expertise in shipping and European real estate.

TBG operates strictly as a single-family office for the Latsis family. It has not opened to external capital or converted into a fund manager structure. Unlike some large European family offices that eventually became multi-family offices or institutional asset managers, TBG has preserved its closed, single-family architecture throughout its history.

Deal flow appears to originate through the Latsis family's long-standing European banking and shipping networks rather than through a public-facing origination team. The Zurich base provides proximity to private banking and family office circles, while the Greek shipping connection offers access to maritime and logistics opportunities. The firm does not publicly broadcast investment mandates or solicit inbound pitches.

TBG has historically participated in co-investments alongside the private equity and venture capital funds it backs. This blended approach—fund commitments plus selective co-investment—is common among European SFOs seeking lower blended fees and concentrated exposure to specific assets. The office does not publicly disclose co-investment criteria or minimums.