arcpoint OCIO scores more mandates, Larapinta Private launches

Recently launched arcpoint OCIO has won three mandates including securing wealth manager and family office Larapinta Private, a new venture set up by a former Koda Capital partner.

Founded by Troy Armstrong, Larapinta Private caters to Australia's regional, agricultural and pastoral families.

"There is enormous wealth tied up in the land in this country, and almost no one advises it properly. Existing firms are typically built for the city executives and boardroom-based, quarterly review cycle, with conversations geared to share portfolios, superannuation and the family home," Armstrong said.

"These conversations and rhythm are poorly suited to a farming or pastoral family. For these families, seasonal cashflow, illiquid balance sheets and operating risk are the starting point. A good season and a drought year call for very different plans."

Melbourne-based Armstrong spent more than six years at Koda Capital where he was a senior adviser and partner. Before that, he was an adviser at Escala Partners, Akambo Private Wealth and ANZ.

"Most wealth firms ask a family to choose between the two. I built Larapinta because the firm I wanted for these families didn't exist. I will make the long drive or the flight to a remote property, because that is where deep conversations happen and real trust is built," he said.

arcpoint OCIO also scored clients in Heritage Capital Group and Sherlock Wealth.

Melbourne-based Heritage Capital Group's mandate focuses on specialist management of alternatives and fixed income portfolios through managed accounts on HUB24.

Heritage Capital Group director Hamish Blievers said: "Private markets reward specialist knowledge. Manager dispersion is wide, and getting selection right takes dedicated expertise and research, not a passing look. We wanted a partner who could bring that depth and solve for it with us, inside a governed and accountable structure, while we stay focused on strategy and our clients."

Sydney advice firm Sherlock Wealth engaged arcpoint to strengthen its investment committee process, and provide research, analysis and recommendations. Sherlock Wealth retains responsibility for investment decisions and client relationships.

The new mandates mark a total of six client wins for arcpoint in recent months.

"Doubling our client base in five months tells us the shift toward dedicated investment decision governance is structural, not cyclical," arcpoint founding partner, chief executive and chief investment officer, Jacqueline Fernley said.

"These three practices arrived with very different needs, from running a single asset class to a full governance build, and each chose mandate-based stewardship over running investment decisions off the side of the advice engagement."