Offit Hall Capital Management, based in New York and San Francisco, is losing the Offit family. Morris Offit, co-chief executive of the firm, and two sons, Ned and Daniel Offit, both managing directors at the firm, will form a new firm in New York that will use the Offit name.
The San Francisco office, led by co-chief executive Kathryn Hall, will rename and regroup as a standalone firm, according to a source.
A spokesperson for Offit Hall declined to comment.
The firm was created in 2002 with the merger of Laurel Management, led by Hall, and Offitbank, a wealth management firm founded by the senior Offit in 1983.
Offit Hall has roughly $22 billion under advisement. The firm has funds of hedge funds, private equity funds of funds, and “real asset” funds.
Both firms will continue to offer alternative asset advisory services, according to a source.