Chanel Billionaires’ Family Office Bets on Rockefeller Capital

The investment firm owned by the family behind Chanel is acquiring a stake in Rockefeller Capital Management, valuing the wealth adviser at $6.6 billion.

Mousse Partners, the New York-based family office that helps to manage the Wertheimer family’s $93 billion fortune, is investing alongside family-backed firms Progeny 3 and Abrams Capital. Progeny 3 is a single-family office based in Kirkland, Washington, that’s affiliated with the Smith Hemingway family, and Abrams Capital is a Boston investment firm founded by David Abrams. Financial details of the transaction weren’t disclosed.

Rockefeller Capital oversees $187 billion in client money and specializes ...