Multicase study reveals sensemaking mechanisms reconciling family and financial logics in single-family offices, highlighting how hybrid governance shapes investment behavior.
The investment behavior of single-family offices (SFOs) reflects the coexistence of finance and family institutional logics, often generating tensions in investment decision-making. How SFOs reconcile these logics remains poorly understood. Adopting a sensemaking perspective, we conducted a multicase study of 10 SFOs based on 27 interviews with key decision-makers within the SFO. Our findings identify three sensemaking mechanisms – constructing meaningful engagement, making sense of wealth across time, and legitimizing professional governance – that shape SFOs’ investment behavior. By integrating institutional logics and sensemaking, this study advances research on family wealth management and hybrid investment strategies.
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VANDERMEULEN et al. (2026) studied this question.
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