Crain Communications launches Crain Currency, a new brand focused on building and maintaining generational wealth

DETROIT, July 7, 2022 /PRNewswire/ -- Crain Communications, a 106-year-old family-owned media company, is proud to announce the launch of a new brand focused on building and maintaining generational family wealth. Crain Currency, a digital news and community networking product, is designed for families managing wealth and legacies. A weekly newsletter launched on June 29 — a robust website and invitation-only networking platform will follow later this year. Potential audience members are invited to visit www.craincurrency.com to be considered for inclusion.

The new product is aimed at a primary audience of people who head family-owned businesses and family offices, the structures created to manage family wealth. The audience will also include professionals who advise families and individual private investors. Because many families make direct investments in companies, the audience will also include serial entrepreneurs and private equity and venture capital principals.

"We're curating the audience as carefully as the content," said KC Crain, President and Chief Executive Officer of Crain Communications. "The newsletter is complimentary as we build, and we'll ask audience members for their input as we create the larger website and community platform."

It's estimated that as many as 10,000 single- and multi-family offices exist in the United States, with even more in Europe and Asia. In addition to managing assets, they may provide support for family members on such matters as tax planning, philanthropy counsel and household management. Some family offices are well into multiple generations. Newer offices have formed when a family-owned enterprise was sold, creating a large financial event. As more family-owned enterprises are sold, the number of offices is expected to grow.

Marcus Baram, formerly a senior editor at Fast Company, is contributing editor. Mary Kramer, a longtime Crain publisher, will serve as founding director of the project. Grand Valley State University in West Michigan will join the initiative to perform confidential benchmark research through its Family Owned Business Institute and provide insights on family philanthropy through its Dorothy A. Johnson Center for Philanthropy.

"Our award-winning city brands – Crain's Chicago, Cleveland, Detroit and New York – and Automotive News already reach many family-owned businesses," Crain said. "And Pensions & Investments reaches large institutional investors and asset managers. We think Crain Currency complements that coverage and provides a new trusted resource for families managing wealth."

SOURCE Crain Communications