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Wealthy In The Hamptons Set Their Sights On Do-it-yourself Deals

by fa-mag.com posted 2months ago 22 views
The champagne was flowing at a Hamptons gathering last month for members of Tiger 21, an investment club for the ultrawealthy. After some schmoozing, talk turned to a hot topic: do-it-yourself dealmaking. Some attendees invested directly in real estate. One sunk money into an amusement park (he lost big but his kid had fun, he joked). For these and many other rich people, hedge funds, private equity and other traditional velvet-rope investments are no longer enough. They’re looking to “go direct” -- Wall Street-speak for putting their money straight into a business.