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Why entrepreneurial families are institutionalising their capital in Luxembourg
By Wim RITZ, Partner, Alternative Funds Investor Services, Stellan Partners*
Across Europe and beyond, many entrepreneurial families encounter a predictable structural evolution. The first generation creates wealth through a concentrated operating business. The second generation consolidates it. By the third or fourth generation, ownership is typically spread across multiple family branches.
The challenge is rarely a shortage of capital. It is fragmentation.
What once began as a unified fortune controlled by a founder gradually evolves into a network of holding companies, trusts and investment...
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