The Growth of Private Equity’s Role In US Annuities
In 1967, Warren Buffett’s Berkshire Hathaway bought National Indemnity Insurance. This move was responsible for Buffett to say decades after the purchase “Berkshire would be lucky to be worth half of what it is today.” For $6.7 million Buffett gained the ability to put almost $20mm to work. Today, private equity companies are replicating this basic playbook by raising permanent capital via the insurance industry. Click the button below to download the full paper by Tim Pierotti and Tim Layton.
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About Tim
Tim Pierotti is a distinguished equity researcher with over 25 years of experience in various aspects of the equities business. Prior to joining WealthVest, Mr. Pierotti spent seven years in Equity Research management roles at Deutsche Bank and most recently at BMO where he was a Managing Director and Head of US Product Management. Tim has 11 years of investment experience most notably as Head of Consumer Research and Portfolio Manager at The Galleon Group, a former NY based $8Bln Long/Short hedge fund. Tim is a graduate of Boston College and lives in Summit NJ.
