Miami may be a major metropolis, but in certain circles, all it takes to raise the capital to buy a $1 billion bank is one degree of separation.
When longtime friends and scions of South Florida family businesses, Jimmy Tate and Sergio Rok, dreamed of recapitalizing ailing U.S. Century Bank, they drew up a list of Miami’s most successful, deeply rooted business leaders and ran the names by their investment partner — real estate magnate Jorge Perez.
The result: a group of investors that feels more like a friends and family plan.
There are school buddies and relatives. Business partners and neighbors. Some have shared ski trips or stayed at each other’s vacation homes.
One is even dating another’s ex-wife.
The investors bring together Hispanic and Jewish families of Miami — entrepreneurs and business owners spanning a variety of industries.
Read more of “Investing in U.S. Century Bank in Miami more like a family affair” by The Miami Herald