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Savvy newcomers treat second career in wine business seriously

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...