In the ever-evolving world of family offices, relationships, strategy, and industry insights play a crucial role in shaping success. In our most recent episode of Driving with Marley, I sat down with my good friend Bobby Henebry, CIO and President of John Elway’s family office, Elway Capital. We had a great conversation about what it takes to build a successful family office and create strong investment partnerships.
Relationships Are the Cornerstone of a Strong Family Office
If there’s one thing I’ve learned, it’s that trust is at the heart of all successful partnerships. Surrounding yourself with like-minded individuals in the right networks creates opportunities to build meaningful relationships before jumping into business together. Bobby has done this exceptionally well, tapping into groups like YPO and the Society of International Business Fellows (SIBF) to gain insights, vet deals, and form strong partnerships. These communities act as a form of social proof, helping connect the right people.
While family office conferences can be helpful, Bobby and I both agree that real value is found in smaller, more intimate settings where authentic relationships can form. Sitting down for a meal, getting to know people beyond their professional titles—that’s where the magic happens.
Bobby’s entry into the data center space is a great example of how relationships drive opportunities. A mutual connection led him to Magnolia Hill Partners, which eventually turned into a formal investment partnership with John Elway’s family office. This is a perfect example of how networks evolve into real business opportunities over time.
Structuring a Family Office for Long-Term Success
Every family office is unique, and Bobby emphasizes the importance of recognizing the strengths of both the principal and the team when structuring operations. He and his colleague run a lean operation, relying on virtual relationships and external experts when needed. Learning from established family offices like the Kennedy Family Trust and Howard Hughes Medical Institute has also played a key role in shaping Elway Capital.
One of the things that stood out to me in our conversation was Bobby’s approach to risk management. He categorizes assets into four tiers: cautious assets (cash and investment-grade bonds), dampening assets (income-generating investments like real estate and hedge funds), global equities, and high-risk assets (venture capital, crypto, and emerging markets). This method allows them to balance stability with opportunity and keep the portfolio well-positioned for long-term growth.
Data Centers as a Key Investment Strategy
The data center market is on fire right now, and Bobby and John recognize the potential. The industry is expected to grow at a compound annual growth rate (CAGR) of 10.5% from 2022 to 2030, thanks to the rise of AI and cloud computing (Source: Grand View Research). Rather than trying to pick individual tech companies, Bobby sees data centers as a way to invest in the broader digital infrastructure that powers everything from AI to streaming services.
Through our partnership at Magnolia Hill Partners, Elway Capital is joining us in this high-growth sector, where we are backing experienced operators and structuring deals that create long-term value. Investing in data centers isn’t just about returns—it’s about positioning for the future of technology in a way that’s both strategic and scalable.
Final Thoughts
Bobby’s journey in building John Elway’s family office is a masterclass in relationships, strategic planning, and forward-thinking investments. The key takeaways? Prioritize relationships, build a structure that plays to your strengths, and identify industries—like data centers—that offer long-term potential.
For anyone setting up a family office, Bobby’s advice is invaluable: surround yourself with the right people, stay curious, and remain open to new industries and opportunities. The best investments often come from the strongest relationships, and that’s a principle we both live by every day.
With gratitude,
Marley Hughes
CEO
Magnolia Hill Partners
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