Said Holdings pivots from fund managers to direct company investments
Steve Galbraith · Steven Galbraith – In the Boardroom (Capital Allocators, EP.48) · Apr 16, 2018 · at 22:30
Steve Galbraith, board member of Said Holdings (the family office of Wafiq Said), details how the multi-generational family office restructured its investment model.
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“They're actually pivoting the investment structure to become much more direct investing, and so this is an interesting dynamic. So you have a father who made all his money doing stuff, and the actual corpus of the endowment, if you will, was invested with people pushing paper around, i.e. Money managers, and collectively they came to the conclusion, this isn't what I want for my son, or more importantly, my grandson and granddaughter, And so they're actually going to be reallocating a lot of the money into direct investing in companies. So we've completely pivoted the nature of the organization, and I think it's really exciting for everyone involved.”
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