Bessemer Group Company Description
Forget the cold, hard steel and think cold, hard cash. The Bessemer Group manages more than $50 billion in assets for wealthy individuals and families. Main subsidiary Bessemer Trust administers portfolios with holdings in domestic and international equities and bonds, as well as such alternative assets as hedge funds, real estate, and private equity funds of funds. The group also provides trust, custody, tax and estate planning, strategic philanthropy, and financial advisory services. Steel magnate Henry Phipps (a partner of Andrew Carnegie) founded Bessemer Trust in 1907; more than six decades later, the trust began accepting clients outside the Phipps family.
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The Company Description provides a historical perspective of Bessemer Group's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Bessemer Group's evolution in the marketplace.
