The Koch brothers, funders of many libertarian-lite operations, are building a family office operation called 1888 Management LLC to manage part of their personal wealth. Initially tucked inside the private Koch Industries Inc., 1888 has been quietly scouting for personal investments for the Kochs, reports Bloomberg.
A person familiar with 1888 put the current figure of the office at more than $2 billion, says Bloomberg.
The Koch’s family office has seven managers on its board, including three executives at Koch Industries -- Controller Richard Dinkel, Chief Financial Officer Steven Feilmeier and Treasurer David May -- as well as family members David H. Koch, Anna B. Koch and Elizabeth B. Koch, according to a filing in Florida last year.
Trent May, who joined the Kochs in 2011 from the $6 billion Wyoming Retirement System, will run the office.