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Sackler family

January 14, 2014

New York-based family office Summer Road has put $100 million (€73.1 million) into an alternative mutual fund, following a trend of ultra high net worth families shifting away from traditional hedge funds.

New York-based family office Summer Road has put $100 million (€73.1 million) into an alternative mutual fund, following a trend of ultra high net worth families shifting away from traditional hedge funds.

According to media reports, Summer Road, headed by David Sackler, the grandson of Raymond Sackler who bought Purdue Pharma in 1952, has provided the seed funding for the Balter Long/Short Equity Fund.

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