Bruce Berkowitz on Managing Risk and Reward Clients come first, and Fairholme Capital's Berkowitz is the largest client in everything his firm does. The result has been great risk-adjusted returns for both him and his clients. Related Articles Actually, Private Equity Firms Have Little to Fear from Litigation by Retail Investors Michelle Celarier Seed Funding Isn’t Small Anymore: AI Start-Ups Push Rounds to Historic Highs Stephen Taub The Investment Landscape of Data Centers: Opportunities for Investors Sponsored by Principal