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Savvy newcomers treat second career in wine business seriously

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Bill Price walking the rows at Durell Vineyard in Sonoma, California. Winemaking is attracting more investors who are looking at it as an opportunity, and not a money-losing pastime; Mr Price, a private equity specialist who was a founding partner of TPG Capital, has jumped into the business with gusto.

New York

THERE'S an old saying: If you want to make a small fortune in the wine business, start with a large one.

Many a wealthy person has discovered the axiom's truth the hard way, buying a winery with the idea of being a gentleman farmer, overseeing a picturesque and prestigious...