'There's a Lot of Discussion Around Succession in India'

Timothy F Daniels, president and CEO of Tiger 21, on why the elite wealth network is betting on India as shifting portfolios reshape conversations among the global ultra-rich

- By HIMANI KOTHARI

Tiger 21, an invitation-only network for the ultra-wealthy, occupies a distinct corner of the global wealth landscape.

You must have $20 million or more in investable assets to become a member but the draw is less status than access: A confidential forum where entrepreneurs, family-office principals and inheritors review each other’s portfolios and pressures, much like a board of directors.

The group is now sharpening its focus on India, a market, President and CEO Timothy F Daniels says, no business can afford to overlook. It has launched three groups in India, is evaluating a fourth one and there are also plans for a dedicated family-office group.

Inside its India meetings, succession is discussed with unusual urgency, Daniels tells Forbes India in an interview. The investment mix is evolving as well. One of the most notable long-term shifts globally is private equity’s climb from low-teen allocations 15 years ago to roughly 25-28 percent today. Edited excerpts:

Q What are your plans for India?

India is an ascending power and, from a business perspective, every business needs to be present in India. I've been visiting India for about 15 years and have seen a great deal of change. The next 15 years are going to see even greater changes. From a Tiger 21 perspective, our goal is to build a global network.

For that, you have to be operating in India. And it works both ways—our Indian members are able to expose themselves to other parts of the world with a level of insight that may not be available in other forums; and our non-Indian members can better understand what’s going on there.

Q And who are the members in India? Family offices or entrepreneurs?