NYT: Wealthy Families Look to Help Family Businesses in the Pandemic
Jennifer Pendergast in NYT
For the wealthy, an investment that gets around funds' high fees and may earn good returns. And for the companies, a needed infusion of cash when other options have disappeared.
From the article:
"A lot of times, the owners don't want an exit strategy," said Jennifer Pendergast, executive director of the John L. Ward Center for Family Enterprises at the Kellogg School of Management at Northwestern University. "What they need is money. A lot of times, investors have realized the secret sauce is the owners. You're giving up part of the value of the business if they go away."