JP Conte’s Family Office Evolution Embraces Direct Deal Capabilities

The modern family office bears little resemblance to its predecessor. Where wealth management firms once served primarily as passive capital allocators, channeling funds through traditional private equity vehicles, a new breed of sophisticated investment entities has emerged. These organizations now deploy capital directly, negotiate their own terms, and transform portfolio companies through hands-on operational expertise.

JP Conte’s March 2025 launch of Lupine Crest Capital, his family office, exemplifies this transformation. The family office represents more than a new investment vehicle for the private equity veteran—it signals how ultra-high-net-worth investors are fundamentally restructuring their approach to capital deployment. After building a career at a San Francisco-based private equity firm, JP Conte established his family office to pursue direct investments across healthcare, financial services, software, and industrial technology sectors.

Direct Investment Infrastructure and Market Positioning

Family offices globally are abandoning the traditional fund-of-funds model at an accelerating pace. According to a survey by Bastiat Partners and Kharis Capital, 50% of family offices plan to execute direct deals over the next two years. This represents a dramatic departure from the intermediated investment structures that dominated wealth management for decades.

Recent data from Citi Private Bank reveals the scale of this shift: 70% of family offices reported completing direct investments in private companies over the past 12 months. More significantly, among those actively pursuing direct deals, 40% reported increasing or significantly increasing their exposure to such transactions. The trend demonstrates growing confidence among family offices in their ability to source, evaluate, and execute complex transactions without traditional intermediaries.

Boston Consulting Group estimates family offices and private principal investors now control more than $6 trillion in capital, representing approximately 10% of all private markets. This financial firepower, combined with patient capital and long-term investment horizons, positions these entities as formidable competitors to traditional institutional investors. The structural advantages enable family offices to pursue transformational strategies that institutional funds with predetermined exit timelines cannot replicate.

Operational Excellence and Value Creation Frameworks

The capacity to execute direct investments requires institutional-grade infrastructure and specialized expertise. Family offices pursuing this strategy must develop sourcing capabilities, due diligence frameworks, and post-acquisition value creation methodologies that rival traditional private equity firms.

JP Conte structured Lupine Crest Capital with precisely this operational sophistication in mind. The family office targets companies generating $50 million to $500 million in revenue, focusing on businesses with strong leadership and consistent growth trajectories. This middle-market focus allows the firm to deploy capital where operational improvements and strategic guidance can generate outsized returns—a deliberate positioning that distinguishes Lupine Crest from passive wealth preservation vehicles.

Within months of launching, Lupine Crest Capital demonstrated its direct investment capabilities through multiple significant transactions. The firm led a $30 million investment in Chariot & Castle Seguros, an insurance brokerage that acquired 21 individual brokerages across seven Colombian cities. The deal combined debt and equity financing—a structured approach indicating institutional sophistication rather than passive capital deployment.

Ocorian’s recent study found that 76% of family office professionals believe increasing sophistication leads organizations to execute more complex transactions while strengthening operational infrastructure. This infrastructure development separates successful direct investors from those merely attempting to replicate private equity strategies without adequate capabilities. The distinction proves critical as family offices compete for deals alongside established institutional players.

JP Conte’s investment philosophy centers on transformation rather than financial engineering. “I founded Lupine Crest Capital with the vision to invest in promising companies and propel them to the next level through smart management and strategic growth,” he explained. This operational focus distinguishes family offices pursuing genuine value creation from those treating direct deals as portfolio diversification exercises.

Strategic Capital Deployment and Market Adaptation

The structural advantages family offices possess over traditional investment vehicles explain their accelerating direct deal activity. Patient capital allows these entities to pursue longer holding periods and more complex value creation strategies. Unlike institutional funds constrained by predetermined exit timelines, family offices can align investment horizons with genuine operational transformation cycles.

JP Conte’s international investment strategy through Lupine Crest Capital illustrates this flexibility. The family office participated in eB Capital’s R$640 million investment in Orizon, a Brazilian waste-to-energy company processing waste for 30 million Brazilians across 17 facilities. Such cross-border transactions demonstrate how sophisticated family offices deploy capital toward long-term thematic opportunities rather than short-term financial arbitrage.

PwC’s analysis tracking more than 20,000 family offices globally documented significant volatility in direct investment volumes throughout the past decade, with transaction counts fluctuating from peaks of over 7,200 deals to lows below that threshold. However, the underlying trend remains clear: family offices continue building institutional capabilities necessary for sophisticated direct investing. The infrastructure investments position these entities to capitalize on market dislocations and proprietary deal flow that institutional investors often cannot access.

Goldman Sachs’ 2025 Family Office Investment Insights report, surveying 245 decision-makers, found these organizations maintaining steady portfolio allocations despite heightened geopolitical concerns. The consistency demonstrates confidence in long-term strategies rather than tactical market timing—an approach well-suited to direct investment models requiring patient capital and operational expertise.

JP Conte articulated this perspective during Lupine Crest Capital’s launch: “We are entering a period of exceptional growth for American entrepreneurship and innovation. There is no better moment than right now to invest in businesses we believe in and give them the boost they need to turn from good to great.” This conviction underscores how experienced investors view direct deal capabilities as essential tools for capturing value in an increasingly competitive market environment.

JP Conte’s family office represents how decades of institutional private equity experience translate into direct investment capabilities. By combining operational expertise with patient capital and sector-specific knowledge, Lupine Crest Capital exemplifies the evolution transforming family offices from passive allocators into active architects of portfolio company success. The firm’s early transaction activity and strategic positioning suggest that family offices with institutional capabilities will continue capturing an expanding share of middle-market investment opportunities. Click here to learn more about JP Conte.