From Preservation to Growth: Positioning Wealth Across Cycles and Generations
From Preservation to Growth: Positioning Wealth Across Cycles and Generations Periods of economic transition often create both the greatest opportunities and the most subtle risks. As fundamentals improve, portfolios naturally shift from defense to offense, but the challenge is how to seize growth without overlooking the vulnerabilities that emerge in the process. Nigeria finds itself at such a moment. GDP expanded by 4.23% in Q2 2025, up from 3.13% in Q1. Currency stability has reduced one of the biggest uncertainties for businesses, while reforms and stronger oil output are supporting momentum. For investors, the temptation is to lean more aggressively into risk. Yet, even in a strengthening economy, discipline in allocation and structuring remains critical. Recalibrating Portfolios With monetary easing underway, fixed-income yields are normalizing. Bonds still serve as a stabilizer, but the environment calls for more balanced positioning. Selective equity exposure, particularly in consumer-driven industries, offers potential upside. Real estate, especially income-generating commercial assets, continues to provide both inflation protection and steady returns. Alternatives are also gaining relevance. Private equity, infrastructure, and impact-oriented investments are increasingly attractive, supported by structural reforms and Africa’s expanding demand for energy, logistics, and digital infrastructure. The Risks Beneath the Optimism An improving macroeconomic environment does not remove risk; it changes its nature. Lower yields reduce the relative attractiveness of fixed income, creating pressure to reallocate. At the same time, stronger sentiment can push asset valuations ahead of fundamentals, making disciplined entry points vital. Currency stability has improved, but it remains closely linked to oil prices and global liquidity cycles. Inflationary pressures, though moderating, still carry upside risks, threatening real returns if portfolios are not sufficiently hedged. The political calendar adds another layer of complexity. The second half of next year will mark the pre-election period, historically a time of uncertainty in policy direction and investor sentiment. Even when fundamentals are strong, elections have a way of introducing volatility that must be managed carefully. Meanwhile, alternatives, while promising, carry liquidity trade-offs, as capital may be tied up for longer horizons. Beyond Market Returns Wealth strategy must extend beyond capturing cyclical opportunities. The real measure of success lies in how effectively assets are structured to endure across generations. Market cycles rise and fall, but without governance frameworks (trusts, family offices, or succession vehicles), capital can erode quickly. The challenge is not simply to grow wealth but to institutionalize it. Proper structures ensure continuity, minimize disputes, and allow assets, whether in listed securities, private markets, or real estate, to compound over decades rather than years. Positioning for the Next Cycle This moment calls for balance. On one hand, the growth rebound provides a platform to capture opportunities in equities, real estate, and alternatives. On the other, the realities of inflation, political risk, and market cycles require caution, discipline, and strong governance. Investors best positioned for the next cycle will be those who combine tactical agility with long-term foresight, allocating capital where growth is sustainable, while embedding the structures that preserve wealth through transitions. At Parthian Capital, we see this as a pivotal inflection: a move from preservation to strategic growth, anchored by frameworks that extend prosperity across time. Wealth, at this level, is not only about compounding capital, but also about compounding legacies.
Nigeria’s Wealth Boom: The Quiet Rise of Family Offices
Nigeria’s Wealth Boom: The Quiet Rise of Family Offices Think of a name you might recognize from the Nigerian business landscape – perhaps someone who started with a single textile factory in Apapa or a small tech startup in Yaba, Lagos. Let’s call her Mrs. Chidi-Bayo. Over the decades, she meticulously built an empire, her initial ventures blossoming into a diversified portfolio spanning real estate in Ikoyi and London, significant stakes in telecommunications, and even a burgeoning agricultural enterprise in the North. Her wealth isn’t just a number on a balance sheet; it’s the culmination of relentless work, shrewd decisions, and countless sleepless nights. Now, Mrs. Chidi-Bayo faces a challenge that many successful entrepreneurs globally, and increasingly in Nigeria, encounter: how to shepherd this complex mosaic of assets. It’s not just about managing cash flow or picking stocks; it’s about structuring her legacy. How does she ensure her sprawling properties are maintained and generating income for generations? How does she navigate the intricate tax laws across multiple jurisdictions? More importantly, how does she instill financial discipline and philanthropic values in her children and grandchildren, preventing her hard-earned fortune from dissipating in a single generation? A traditional private bank, while helpful, often feels transactional, lacking the holistic, deeply personalized approach her unique situation demands. Unbeknownst to many, a significant, yet quiet, evolution is underway within Nigeria’s wealthiest circles. A growing number of individuals like Mrs. Chidi-Bayo are moving beyond conventional wealth management solutions, embracing a sophisticated, all-encompassing approach: the Family Office. This strategic shift is fundamentally reshaping how Nigeria’s ultra-high-net-worth individuals (UHNWIs) preserve, grow, and transfer their multi-generational wealth. But what exactly does a family office entail, and why is this specialized entity becoming an indispensable tool in the vibrant, dynamic landscape of Africa’s largest economy? What Exactly is a Family Office? At its simplest, a family office is a private company set up to manage all the money and personal affairs of one very wealthy family (called a Single-Family Office, or SFO) or even several families (a Multi-Family Office, or MFO). Think of it as a dedicated, tailor-made hub for all their financial and administrative needs – much more comprehensive than a typical private bank. These offices are designed for families with substantial wealth, often more than $30 million in investments. Globally, the number of super-rich individuals is growing fast. This trend is very much playing out in Nigeria, where a rising number of people are joining the “US$10 million-plus wealth club.” According to PwC, around 9,100 UHNWIs in Nigeria had a combined $207 billion in December 2020, and that number is expected to grow by 11% across Africa in the next five years. Historically, rich families might have used different private bankers, lawyers, and accountants for various tasks. But as wealth becomes more complicated, especially with assets across different types and countries, this scattered approach just isn’t efficient or safe. Family offices bring everything under one roof: managing investments, planning taxes, handling estates, coordinating charitable giving, and even sorting out lifestyle services like travel. This integrated service is a big step up from traditional financial services, moving towards a much more personalised and strategic way of managing wealth. Another big reason for the rise of family offices is the huge amount of wealth being passed down through generations. According to the World Wealth Report 2025, globally, an estimated $83.5 trillion is expected to be inherited by 2048. Younger generations often want investments that align with their values and demand professional standards. Family offices are perfectly set up to help with this complex handover, offering structured ways to manage the family’s money, plan for who takes over, and even guide investments towards social impact. This directly helps address a big problem in Nigeria, where many family businesses have struggled to survive due to poor succession planning. Nigeria’s Wealth: The Driving Force Behind Family Offices The increasing prevalence of family offices in Nigeria is driven by a confluence of factors. Nigerian family businesses are professionalizing, shifting from informal structures to formalized setups that demand tailored expertise. This transition is further fueled by a new generation of heirs who seek not only financial returns but also investments that align with their values, prioritizing purposeful and sustainable endeavors. Additionally, Nigeria’s dynamic economy, with its ambitious growth targets, necessitates sophisticated wealth management to navigate the landscape and capitalize on new opportunities. Family offices are uniquely positioned to serve this need. They are also helping to reverse the trend of wealth held abroad, as they are well-equipped and flexible enough to invest directly in promising local businesses and fast-growing sectors like technology and renewable energy, thereby contributing to the nation’s economic development. The Ups and Downs: What to Consider Family offices provide a holistic approach to wealth management, including tax planning and risk management, which is crucial for protecting a family’s legacy in a country where many businesses fail to survive beyond the second generation. They also facilitate philanthropy and impact investing, allowing families to align their wealth with their values. Unlike institutional investors, they can be flexible, directly funding local businesses and fostering economic growth. This model offers unmatched privacy and control. However, the downsides are significant. The high costs of setup and maintenance often require a minimum of $100 million in assets, making them impractical for many. Finding and retaining qualified staff is a major hurdle. Navigating Nigeria’s complex regulations and managing internal family dynamics can also undermine an office’s effectiveness. More importantly, these offices must ensure strict tax compliance to avoid reputational damage and contribute responsibly to the nation’s development. Choosing the Right Partner: Why Expertise Matters Given these complexities, choosing the right partner to help set up or manage a family office in Nigeria is incredibly important. You need financial know-how, deep local knowledge, a global outlook, and a sensitive understanding of family dynamics. For families looking for a reputable and forward-thinking partner in Nigeria, Parthian Capital stands out. Building on a history of innovation within the Parthian Group, the firm has a proven track record in the Nigerian financial market.
Parthian Capital Limited Increases Investment Opportunities with Two New Investment Funds
Parthian Capital Limited Expands Investment Opportunities with Two New Investment Funds Parthian Capital Limited, the asset management division of the Parthian Group, proudly announces the launch of two investment funds: the Parthian Money Market Fund and the Parthian Dollar Fixed Income Fund. These new offerings are designed to provide investors with secure and customised financial solutions, fostering long-term wealth preservation and growth. During the launch event, Group Managing Director, Oluseye Olusoga underscored the crucial role of the capital market in Nigeria’s economic development. “The capital market is the backbone of Nigeria’s economy,” he stated. “Our new funds are engineered to create long-term value and protect wealth for a diverse range of investors, retail, high-net-worth, and institutional alike. With these funds, we are providing the financial tools that will drive sustainable growth.” L-R: Olufemi Shobanjo, CEO, NGX Regulation; Olufunke Aiyepola, MD/CEO, UTL Trust Management; Abiodun Adebimpe, West Africa Regional Head, Custodial Services, Rand Merchant Bank; John Briggs, Lagos Head, Securities and Exchange Commission (SEC); Adedotun Sulaiman, MFR, Chairman, Parthian Partners; Ndidi Ukaonu, Director, Parthian Group; Ibilola Ashcroft, MD Designate, Parthian Capital; Oluseye Olusoga, Group MD/CEO, Parthian Group; Regina Asala, Rand Merchant Bank; Omowonuola Kunle-Bello, Head, Fund & Investment Manager Ratings, Agusto & Co; Benard Esan, Rep. of Company Secretary, Alsec Nominees; Oyindamola Ehiwere, CEO, Alsec Nominees. The Chairman of Parthian Group, Adedotun Sulaiman also emphasised the essential role of investments in economic development, stating, “Capital is the oxygen of the economy, and without capital, we can’t go very far.” Acting Managing Director of Parthian Capital Limited, Ms. Ibilola Ashcroft, expressed excitement about the new offerings. “We are thrilled to introduce our investment funds to the market,” she said. “Each fund is meticulously structured to provide secure, dependable, and diversified investment solutions that align with our clients’ financial aspirations.” Ashcroft further noted, “The Parthian Money Market Fund is designed to offer competitive returns while minimizing risk, allowing investors to optimise their portfolios without compromising on safety. Our team is dedicated to delivering personalised strategies that empower our clients to reach their financial goals.” L-R: Olufunke Aiyepola, MD/CEO, UTL Trust Management; Abiodun Adebimpe, West Africa Regional Head, Custodial Services, Rand Merchant Bank; Adedotun Sulaiman, MFR, Chairman, Parthian Partners; Ndidi Ukaonu, Director, Parthian Group; Ibilola Ashcroft, MD Designate, Parthian Capital; Oluseye Olusoga, Group MD/CEO, Parthian Group; Regina Asala, Rand Merchant Bank; Omowonuola Kunle-Bello, Head, Fund & Investment Manager Ratings, Agusto & Co The Parthian Money Market Fund is a low-risk, open-ended investment vehicle focused on capital preservation and steady income generation. It offers investors a secure way to manage cash through diversified investments in short-term money market instruments. Meanwhile, the Parthian Dollar Fixed Income Fund enables investors to diversify their portfolios with dollar-denominated securities, serving as an effective hedge against Naira depreciation while providing attractive returns. The formal launch event brought together key stakeholders, investors, and industry leaders to celebrate this milestone and gain insights into Parthian Capital’s innovative approach to wealth management. For more information about these investment funds and to explore detailed product information, please visit www.parthiancapitalng.com. L-R: Adedotun Sulaiman, MFR, Chairman, Parthian Partners; Ndidi Ukaonu, Director, Parthian Group; Ibilola Ashcroft, MD Designate, Parthian Capital; Oluseye Olusoga, Group MD/CEO, Parthian Group About Parthian Capital LimitedParthian Capital Limited is a leading asset management firm in Nigeria, offering tailored investment solutions to individuals and institutions. As part of the Parthian Group, the company is committed to driving financial inclusion and economic growth through innovative products and services.
