Why the British Government Is Now Actively Courting Family Offices — and What It Means for US-UK Investment
Episode 10: Harrison Lance, Senior Trade and Investment Officer, UK Department for Business and Trade; National Lead for Asset Management and Family Offices
Episode 10 of the AYU Family Office Podcast
An American working for the British government, based in Atlanta, whose job is to connect US family offices with UK investment opportunities. In Episode 10 of the AYU Family Office Podcast, Harrison Lance explains exactly what the UK Department for Business and Trade (DBT) is doing in the family office space, why it matters, and how AYU fits into the picture.
Family Offices Are Where Private Equity Was in 2004
Harrison's central thesis is compelling. "Family offices are right where private equity was in 2004." Private equity at that point was the nimble scalpel quick to move, able to take long-term views, less constrained by regulation. Today, private equity has become the £800-billion gorilla. Family offices, Harrison argues, are on the same trajectory.
Family offices have time horizons of 15, 20, even 25 years. They can back opportunities that wouldn't pass a traditional investment committee. "That would never stand up to an investment committee if you're not profitable for the first three years and you plan on exiting in seven, that's four years of profitability. Absolutely not. Family offices are different." And that makes them uniquely attractive partners for governments thinking about long-term infrastructure, innovation, and economic growth.
The UK's New Approach to Family Office Engagement
The UK's active engagement with the family office community as a distinct asset class is genuinely new. DBT operates a network of nine consulates across North America. Harrison sits within financial and professional services, and his role is personal and relationship-driven.
Family offices are particularly resistant to cold outreach and institutional approaches. They network with each other, they trust personal introductions, and they respond to genuine relationships over sales pitches. This is precisely why DBT has been supportive of the AYU Approved Family Office (AFO) programme. "That framework establishing that yes, this is actually someone worth meeting, not claiming to be something they're not is a huge part of it."
What the UK Offers US Family Offices
The UK's pitch to US family offices rests on several durable strengths: common language, legal infrastructure, time zone, cultural familiarity, and a deep talent pool across financial services, technology, and life sciences. Harrison also points to the UK government's desire to listen. "We want to hear from industry. What do you need to see in order to invest more capital, grow more businesses?"
The UK-US Family Office Summit
One tangible outcome of the AYU-DBT collaboration discussed in this episode is a private, invitation-only family office summit bringing UK government and US family offices together in Atlanta exactly the kind of trusted, curated forum that both sides need.
Listen to the Full Episode
Episode 10 of the AYU Family Office Podcast is available now on Spotify.
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