McKinsey, one of the world’s most influential consulting firms, has built up a secretive $5bn internal investment arm that manages the fortunes of its past and present partners, raising questions over possible conflicts of interest.
Known as McKinsey Investment Office Partners, it is overseen by a 12-strong board of the consultant’s most senior partners and advisers, according to documents seen by the Financial Times.
The firm’s partners on the board — which include the heads of the Americas, energy, investment banking, and private equity divisions — do not disclose their work at the fund in their corporate biographies, and they are not named on MIO’s website.