Wellspring CEO Contrasts Pritzker Deal With Industry’s Standard PE Partnerships

Core Insights - The Pritzker Organization is making a strategic investment in Wellspring Family Office, a Cleveland-based multi-family office, which signifies a shift from the typical private equity partnerships in the advisory industry [1][2] - Wellspring Family Office has rebranded to reflect its expanded services beyond financial advisory, now managing approximately $4.2 billion in assets for around 75 families [3] Investment Strategy - Wellspring CEO Michael Novak emphasizes the importance of aligning with partners who share a long-term vision, contrasting with private equity firms that often have shorter investment horizons [2][5] - The Pritzker Organization, led by Tom Pritzker, focuses on long-term investments, aiming for a partnership that supports the legacy of multigenerational families rather than seeking quick returns [2][5] Company Background - Wellspring Family Office was founded in 2007 and employs 35 full-time staff, indicating a robust operational structure to support its client base [3] - The firm aims to provide comprehensive services, including tax planning and family governance, to meet the diverse needs of multigenerational families [3]