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Bessemer Trust
Bessemer Trust is a other headquartered in United States (North America). Ranked #93 in the 2026 Dealroom Power Law LP Ranking by realised power-law score across its venture commitments.
Historical Background
- Bessemer Trust was established in 1907 by Henry Phipps, a co-founder of Carnegie Steel, to manage the wealth derived from the sale of the steel company for his descendants.
- The institution was originally conceived as a private family office and was named after the Bessemer process, a pivotal steel-making technique used by Carnegie Steel.
- In 1974, the Phipps family reorganized the firm to also serve other high-net-worth families, transitioning it into a commercial multi-family office.
Source of Capital
- The firm's capital is privately held and originates from its clients, which consist of high-net-worth individuals, families, foundations, and endowments.
- As a multi-family office, its primary function is to provide comprehensive wealth management services for a select number of affluent clients rather than sourcing capital from a broad institutional base like pension funds.
Major Events
- The most significant event in the company's history was its 1974 transformation from a single-family office for the Phipps family into a multi-family office that accepts outside clients.
Allocation Strategy
- Bessemer Trust offers comprehensive wealth management, which includes investment management across a variety of asset classes, including public equities and fixed income.
- The firm provides access to alternative investments, such as private equity and real estate, often through its own proprietary funds.
- Investment strategies are tailored to individual client goals, focusing on long-term capital preservation and growth for multigenerational wealth.
Sources
- https://www.bessemertrust.com/our-history
- https://www.bessemertrust.com/what-makes-us-different/key-facts
- https://www.bessemerinvestors.com/about-us
- https://en.wikipedia.org/wiki/Bessemer_Trust
- https://www.usbanklocations.com/bessemer-trust-company-21868-history.shtml
- https://www.washingtonpost.com/archive/business/1982/08/01/bessemer-trust-a-tradition-of-conservative-cash-management/1cfb7b47-2329-4619-b7f5-9f742b78218d/