Private Equity Pushes to Hire the 1 Percenters’ Money Managers

Private equity firms are on the hunt for a red-hot skill set: wealth managers who can convince the richest 1% to invest in PE funds.

As the flow of capital from pension funds and endowments has slowed, buyout firms are adding to their ranks of rich individual investors to boost assets under management for potential use in buyouts or other investments. That means hiring money managers who have experience with those types of investors.