The Stewardship of Wealth: Successful Private Wealth Management for Investors and Their Advisors, + Website
by Gregory Curtis
Conclusion: The Ultimate Aspirational Asset
If a family that no longer owns an operating business is going to have any chance of maintaining its wealth across the generations, the family's portfolio must have a healthy allocation to private equity, and that private equity must be invested in top-quartile funds.
Almost everything about PE is a challenge, from finding and gaining access to the best managers, to building an appropriate exposure while cash is both going out and coming in, to navigating the J-curve, to tolerating the illiquidity associated with long lockups. All this hassle is worth it only because PE is the ultimate aspirational asset; a way for families to invest alongside entrepreneurs who are soulmates of the family members who built the wealth in the first place.
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access