The Private Equity & Family Office Expert: Peter Braxton
"The arts industry can and should work in collaboration with other sectors to create innovative solutions to complex cross border and social problems."
5 Questions with Peter Braxton
Managing Director, Akoya Capital, INOA Ventures, Manifold Group, Akkad Holdings and Queen’s Court Capital
Vail, Colorado
Peter Braxton works with various Independent Sponsors, Venture Capital Groups and Family Offices. Peter has been serving the financial needs for ultra-high net worth individuals and their families for more than 15 years, delivering holistic advice and creative solutions across the spectrum of private capital markets on both the buy and sell side.
Earlier in his career Peter was a US Air Force Instructor Pilot, with over 3,000 Flight hours, including 1,000 Combat hours in Iraq and Afghanistan.
Following his military service, Peter joined Credit Suisse, Chicago, as a Private Banker. From there he was the COO/Chief of Staff for DOM Capital Group, a single-family office and private investment group of the Dominick’s Grocery Store Family, and most recently worked with Envoi, a management owned private family office dedicated to servicing high net worth clients and Blue Marlin Partners, a Private Equity Firm.
Peter is a graduate of the United States Air Force Academy, Distinguished Graduate of Joint Specialized Undergraduate Pilot Training, and holds an MBA from Washington University in St Louis. He currently serves on the board of the Tuskegee Next Foundation and is a Faculty member of the Ultra High Net Worth Institute.
1. How would you describe current rising gen investment and giving strategies?
It’s a big opportunity; Globally, there is going to be an unprecedented amount of wealth transfer from one generation to the next in the next 15 - 30 years. I do believe the rising generation has access to more tools and resources than ever to pursue their dreams and elevate their passions about art, sustainability, social justice/equity and philanthropy through sophisticated strategies.
It will come down to education, marketing and connecting the dots through trusted advisors, mutually beneficial collaboration and referral programs.
2. What is the perception of the art industry within your client base?
For some it is simply an investment strategy or wealth transfer vehicle – like any other – with an equal number who view the art industry as financially unstable and risky.
For others, it is much more personal: art speaks to some through a visceral/visual emotion and communicates a message or feeling that words cannot. They see art as a means of self-expression, a way to communicate their ideas and emotions, and a way to make a living.
The overall perception is that the industry itself is fragmented, with various current artists virtually unknown or misunderstood and other more famous pieces out of reach or over-commercialized. If there is a “problem” it is that you don’t know someone’s opinion, vision or passion, until you ask. People who have a strong interest in art, view the industry as an exciting and creative field to pursue – they ignore the challenges of making a living as an artist, the competition in the industry, and the difficulty of finding consistent work. Others, still, are concerned about the lack of diversity and inclusivity in the art industry. They may perceive it as a field dominated by certain groups and may feel discouraged from pursuing their passions in art due to the influence of those closest to them who do not share a similar vision.
3. When considering legacy and impact with client investing and giving, which sector is the most attractive and why?
This can vary depending on individual values, goals, and priorities. Some sectors that are often considered attractive for their potential to create meaningful impact and leave a positive legacy include:
Environmental Sustainability: The focus on environmental sustainability is increasing globally as more people recognize the impact of climate change on our planet. You can tell things are changing when more aggressive atmospheric, oceanic and seismic/volcanic events are happening at more often or at unsuspected times, at greater magnitude than ever before. The cause is debatable, but the devastation is not. Investing in companies that are committed to sustainable practices or supporting organizations working to preserve natural resources can be a way to make a positive impact and leave a lasting legacy.
Social Justice and Equity: Many individuals are increasingly concerned with promoting social justice and equity, particularly in areas such as education, health care, and even gun reform. Investing in companies that prioritize diversity and inclusion or supporting organizations working to advance social justice can be a way to make a positive impact in this area.
Technology and Innovation: Technology and innovation can provide solutions to some of the world's most pressing challenges, from health care to education to clean energy. Supporting innovative start-ups and investing in companies with a focus on technology can be a way to leave a lasting legacy and create positive change.
Ultimately, the most attractive sector for legacy and impact investing will depend on the individual's values, priorities, and goals, as well as their desired impact and legacy.
4. What convinces YOU to direct your time, dedication, and capital to an organization?
Time, personal history and faith in impact outcomes.
I have a young family, so my priorities have shifted from enjoying personal pursuits to providing and creating space for my family to learn, grow and thrive together. My personal experiences which have shaped me, no different than others, ultimately drive where I spend time, talent and treasure: I would not be who and where I am without the opportunity to learn, fly and serve in the US Military and ultimately instruct others on how to survive combat operations and return home safely with honor.
I believe the greatest philanthropic thing you can do for someone is to provide meaningful work. I serve on the Board of the Tuskegee Next foundation which creates a path for at risk youth to an aviation career. I view Aviation as an essential service, globally, enabling travel, commerce and human enrichment. Anything I can do to help those with an insatiable appetite to access their dreams is fulfilling to me personally.
5. Year after year, arts giving remains stagnant at ~4% of overall (private) charitable giving. Next era donors — those inheriting the largest intergenerational transfer of wealth in history and new wealth creators — are turning away from the arts to support areas they see as greater drivers of social progress. How could the sector best make its case for relevance among upcoming philanthropic leaders — your clients?
To make a case for relevance, the arts sector will need to thoughtfully articulate its social impact, purposefully collaborate with other sectors, communicate its economic impact through metrics and statistics, focus on diversity and inclusion, and continue to innovate and adapt to the future.
The arts have the potential to drive social progress and address social issues such as inequality, racism, and upward mobility. By highlighting the social impact of the arts, the sector can demonstrate how it is a valuable tool for creating positive change and making a lasting impact for the community.
The arts industry can and should work in collaboration with other sectors such as education, health care, and even politics to create innovative solutions to complex cross border and social problems. By partnering with other sectors, the arts can expand its impact and reach new audiences.
The sector is also an important driver of economic growth and job creation. By highlighting the economic impact of the arts, the sector can demonstrate its value and appeal to philanthropic leaders who are interested in promoting economic development.
You can also make a case for relevance by emphasizing its commitment to diversity and inclusion. By promoting diverse voices and perspectives in the arts, the sector can demonstrate its relevance to philanthropic leaders who are committed to advancing equity and justice for racial, gender, age and geographic issues.
Finally, the arts sector can and must make the case for continued relevance by innovating and adapting to changing times. By embracing new technologies and exploring new forms of artistic expression, the sector can appeal to philanthropic leaders who are interested in investing in innovative and forward-thinking organizations and appeal to individuals yearning for new avenues to express and communicate their passions.
The Path Forward interview series, an initiative of MCW Projects LLC, investigates how cultural and philanthropic leaders are re-envisioning the future.