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Will a recession slow private equity funding?

South Carolina Business Review
SC Public Radio

For the past seven years, our next guest’s private equity investment firm has participated in funding more than $3 billion in a variety of real estate transactions in North and South Carolina, involving everything from infrastructure to home building to restaurants and even including crypto mining. How do they feel about these markets now that rising inflation and interest rates seem to be cooling things down a bit? Mike Switzer interviews Joe Baldassarra, president of Broadstreet, Inc. in Greenville, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.