Ultra-high net worth-focused investment firm Cambridge Associates (CA) has made a new appointment to its private client practice, in the form of Charles Grace III, who will serve as managing director of family enterprise solutions.

Mr Grace has advised very wealthy families for the past 20 years, most recently in a managing director capacity at Family Office Exchange (FOX), where he worked for 10 years. Prior to FOX, he spent almost 10 years working inside $1 billion multi-family and single-family offices.

Mr Grace will be based in New York and report to Mary Pang, the head of the global private client practice.