Warren Buffett told the Wall Street Journal that Berkshire Hathaway plans to invest in a new firm. The new firm is to be created by Byron Trott, who is an investment banker having worked closely with Warren Buffett in Berkshire Hathaway.
Byron Trott is leaving Goldman Sachs to start the new merchant-banking firm to be called BDT Capital Partners.
The Journal says the fund will invest in “family-controlled and entrepreneurial companies” and “could grow to about $2 billion.” Warren Buffett further states that people who have worked with Trott in the past will probably invest in his new fund.
This does not affect Goldman Sachs since the person to take over after Trott’s departure has been allocated.
Byron Trott is credited alongside Warren Buffett for Berkshire’s investment last year in Goldman Sachs and General Electric. He is also credited for playing a key role in Berkshire’s involvement with last year’s $23 billion acquisition of Wrigley by Mars.
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