Given the problems associated with defining commercial family and/or private offices, sizing them is probably a mission impossible.

Each firm that either uses the moniker to describe its activities, or is perceived to be a commercial family or private office, seems to be different from its nominal peers. 

Nonetheless, Alvarium Investments, the London-based investment advisory, merchant banking and co-investment boutique that has just recruited Nancy Curtin, the former chief investment office o...