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Thomas Steyer
Thomas Steyer founded Farallon Capital Management in 1986 after leaving Goldman Sachs.
Thomas Steyer
Thomas Steyer founded Farallon Capital Management in 1986 after leaving Goldman Sachs. The firm is structured as a single-family office for the Steyer family, though it also manages capital for institutional investors through Farallon's hedge fund vehicles. Wealth originated from Steyer's success at Farallon and earlier at Goldman Sachs. Farallon invests across asset classes including hedge funds (event-driven, credit, and special situations), private equity, real estate, and climate-tech direct investments. The firm's strategy blends traditional hedge fund allocations with direct co-investments and SPVs, particularly in energy transition and agritech. Confirmed portfolio holdings include positions in NextEra Energy (per Farallon's 13F filings), Bloom Energy (per Bloomberg, 2021), and multiple farmland investments across the US (per The Land Report, 2022). Geographic focus remains North America, with selective exposure to Europe and Asia through Farallon's earlier funds. By the mid-2010s, Farallon's peak AUM exceeded $40 billion, making it one of the largest hedge fund platforms globally. Thomas Steyer personally stepped back from day-to-day fund management in 2012 to focus on climate advocacy and philanthropy, leading to the creation of Galvanize Climate Solutions in 2021 as a separate but affiliated investment platform. The firm maintains a philanthropic foundation, the Steyer Family Foundation, with a focus on climate change and democracy (per the foundation's IRS filings). Recent activity: September 2023: Galvanize Climate Solutions closed its first venture fund at $250 million (per the firm, September 2023). Farallon's structural differentiator lies in its hybrid model: a hedge fund that simultaneously functions as a family office for its founder, while also operating a distinct climate-focused investment arm. This dual structure — with Farallon generating returns through event-driven and credit strategies and Galvanize Climate Solutions deploying patient capital into climate technology — creates a rare institutional bridge between traditional hedge fund alpha and mission-driven direct investing.
General information
Firm type
Single Family Office
Year founded
1986
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Thomas Steyer
Founder
Andrew H. Spokes
President, Farallon Capital Management
Thomas Steyer
Co-Chairman, Galvanize Climate Solutions
Sector focus
Frequently asked questions
Who runs investment decisions at Thomas Steyer's family office?
Investment decisions are run by Thomas Steyer as founder, though day-to-day hedge fund management at Farallon Capital Management is led by President Andrew H. Spokes. For climate-focused investments, decisions are funneled through Galvanize Climate Solutions, a separate entity co-chaired by Steyer. The structure divides traditional hedge fund capital from mission-driven climate allocations (per Farallon Capital Management website, 2023).
How does Thomas Steyer's firm source proprietary deal flow?
Proprietary deal flow comes from three channels: Farallon's hedge fund network (event-driven and special situations teams), direct relationships in climate technology (via Galvanize Climate Solutions), and Steyer's personal network from his climate advocacy and political engagement. The firm has particular access to deals in energy transition and agritech, where it has made direct co-investments alongside specialist GPs (per Bloomberg, 2021).
Is Thomas Steyer's firm structured as a single family office or a hedge fund manager?
It operates as a hybrid: Farallon Capital Management is registered as a hedge fund manager under the SEC, managing capital for both the Steyer family and institutional investors. However, the Steyer family office itself — distinct from Farallon — functions as a single-family office managing the personal wealth of Thomas Steyer and his family through direct investments and philanthropy. Galvanize Climate Solutions is a separate vehicle for climate-related venture and growth equity.
Does the firm participate in fund commitments or only direct deals?
The firm participates in both. Farallon has historically made fund commitments to other managers in event-driven and credit strategies, while also making direct co-investments in climate-tech and agritech. Galvanize Climate Solutions primarily makes direct investments in climate technology companies, including seed and growth-stage rounds (per Galvanize Climate Solutions website, 2023).
What investment stages does the firm typically target?
The firm targets Growth, Late Stage, and Seed investments, depending on the vehicle. Farallon's hedge fund typically targets liquid, event-driven opportunities in public equities and credit. Galvanize Climate Solutions focuses on early-stage to growth-stage climate technology companies, including Series A through Series D rounds (per the firm's official communications, 2023).
Which sectors does the firm explicitly avoid?
Farallon has historically avoided traditional long-only equity and passive strategies in its core hedge fund. The family office and Galvanize Climate Solutions explicitly exclude fossil fuel investments and carbon-intensive industries, consistent with Steyer's climate advocacy. The firm has publicly divested from coal and tar sands positions (per Bloomberg Green, 2019).
How is Thomas Steyer's firm related to Galvanize Climate Solutions?
Galvanize Climate Solutions was founded in 2021 by Thomas Steyer as a separate investment platform focused exclusively on climate technology. While Steyer is a co-chairman and significant capital provider, Galvanize operates with a dedicated investment team and distinct reporting structure. Farallon Capital Management remains the primary hedge fund vehicle, with no direct operational overlap between the two entities (per Galvanize Climate Solutions website, 2023).
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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