Beneath the Canopy - May 2025

Robert Carson
May 7
5 min read

Updated: Jun 6

In this month's edition of "Beneath the Canopy"

How Chaos, Cosmic Timing, and Vatican Intrigue Reveal the keys to a lasting legacy
Navigating the complexities of family wealth and succession can feel overwhelming, but what if the answers lie in unexpected places?
In this trio of thought-provoking blog posts, we explore how finding clarity in chaos, understanding the risks of waiting for the “perfect” moment, and drawing surprising lessons from the Vatican Conclave can transform your family’s legacy planning.
From Chaos comes Clarity
In a family enterprise, financial decision-making is far more structured than in a typical household.
Waiting for the stars to align? Your family's legacy might pass you by.
There’s a particular moment in every family business journey when the question of selling the enterprise moves from the distant horizon to the kitchen table.
Why the Vatican's conclave holds the key to Family Succession
When it comes to leadership transitions, few events are as steeped in tradition and intrigue as the papal conclave.
Uncertain elections, Unstoppable Impact
In a world where political shifts can upend even the best-laid plans, charities and philanthropists face more uncertainty than ever before. But what if the key to lasting impact isn’t waiting for stability, but embracing bold, counterintuitive strategies?
Creating Generational Legacy? The Secret is to Give your Wealth Away Philanthropy within a family isn’t just about giving—it’s about creating a shared sense of purpose, building stronger connections, and fostering a legacy that lasts well beyond financial wealth.
Another Election Cycle Ends. So Too does the Certainty for your Charity
Election cycles are inherently unpredictable. While political parties campaign on promises to alleviate financial pressures or boost support for various sectors, the reality is that priorities often shift once a new government takes office.
"Looking East" - Investment opportunities that have crossed my desk this month.

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Speaking Engagements

Having advised families on their personal and family wealth for more than two decades, I am now available for speaking engagements to your family, your staff or your clients.

"How To Destroy Your Legacy in One Generation" is a dive into the behaviours that have been the cause of some of the world's greatest family financial disasters, and how to avoid the pitfalls that come with significant wealth.

Please contact me directly to discuss this opportunity.

From Chaos comes Clarity

In a family enterprise, financial decision-making is far more structured than in a typical household. With defined roles, responsibilities, and an investment policy guiding the process, the dynamics of who makes the financial decisions are shaped by governance frameworks rather than informal agreements. This formalised approach ensures that the family’s wealth is managed strategically and sustainably across generations.

Waiting for the Stars to Align? Your Family's Legacy might pass you by

There’s a particular moment in every family business journey when the question of selling the enterprise moves from the distant horizon to the kitchen table. It’s rarely a straightforward decision. In fact, for many Australian family business owners, the timing of a sale often feels completely out of sync with the business’s growth cycle, the prevailing economic winds, or the evolving plans and aspirations of the family itself. If you’re grappling with this conundrum, you’re not alone—and the path forward is rarely linear.

When it comes to leadership transitions, few events are as steeped in tradition and intrigue as the papal conclave. While the Catholic Church and wealthy families might seem worlds apart, the process of electing a new pope and planning for succession within a family business have more in common than you might think. Both are moments of significant change, requiring careful planning, clear communication, and a strong sense of shared values to ensure stability and continuity.

Creating a generational legacy? The secret is to give your wealth away

Philanthropy within a family isn’t just about giving—it’s about creating a shared sense of purpose, building stronger connections, and fostering a legacy that lasts well beyond financial wealth.

When families unite around common values and a desire to make a difference, they not only contribute to the greater good but also strengthen their relationships and lay the groundwork for managing wealth across generations.

Another election cycle ends. So too does the certainty for your charity

Election cycles are inherently unpredictable. While political parties campaign on promises to alleviate financial pressures or boost support for various sectors, the reality is that priorities often shift once a new government takes office. For charities, this can mean changes to funding streams, alterations in regulatory frameworks, or even the loss of critical programs.

'Looking East': Investment opportunities

Not investment Advice

As the global mood shifts on a daily basis following President Trump's tariff announcements early in the month, there is plenty of domestic commentary with the potential to overshadow Trump and his desire to appear as the headline news item on a daily basis in every country in the world.

Following the Federal election, the Australian Labor Party have been returned with an increased majority for another three years, which may give the environment a little more certainty...but perhaps only a little.

It looks unlikely the need for the government to negotiate their policies with minor parties in order to pass legislation, however questions remain if the Government will re-introduce stalled legislation to parliament in its original format.

Managers have been pushed aside by the public holidays during April, struggling to squeeze time with investors in the short working month. I am expecting this to change we push deeper into the final quarter of the financial year.

Here are few of the opportunities that I met with throughout the course of April:

Axon Capital Private Medical Property Trust - An investment in the Aurora Healthcare-managed Toronto Private Hospital, in Newcastle, NSW.
Fortitude Investment Partners Small Cap PE Fund- An Australian mid-market Private Equity opportunity across a range of Australian operating businesses
KKR Private Infrastructure Fund- A global infrastructure opportunity across a broadly diversified portfolio in an income generating, semi-liquid structure.