Another day and another story about dealmaker Joseph Perella's new bank. Not to let their American counterparts hog all the coverage of the new bank — after all Perella Weinberg Partners does have a London office — the Times of London reported this morning that the new firm will not enter the private equity business. Evidently the firm is worried about conflict of interest issues. Funny thing, Peter Weinberg's old employer, Goldman Sachs, is a big player in private equity. Not only does Goldman have a fund to invest in leveraged buyouts, but the firm also has a brisk business managing a so-called fund-of-funds, a private equity fund that invests in other private equity funds. Stay tuned for more breaking Perella news. —Matthew Wurtzel
See story from The Times of London
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