P.W.B.

P.W.B. was founded by the late Whitney MacMillan to manage a portion of the wealth generated by his branch of the MacMillan family's stake in Cargill. Cargill, the largest private company in the U.S. by revenue, is majority-owned by the broader Cargill and MacMillan families, but P.W.B. operates independently from the company itself. It is distinct from Waycrosse, which serves as the central multi-family office for hundreds of Cargill-linked shareholders.

P.W.B. was historically directed by Whitney MacMillan until his death in 2020. Current investment governance has not been publicly disclosed, but oversight has likely transferred to successive family members and any appointed professional advisors within the office. The firm has not announced a named CIO or management committee publicly.

Yes, P.W.B. operates as a discrete single family office for Whitney MacMillan's lineage, in contrast with the larger Waycrosse multi-family office. While Waycrosse serves a broad base of Cargill descendants and stakeholders, P.W.B. maintains a separate, focused mandate for one core branch of the family.

P.W.B. employs both strategies. It makes direct investments in private credit and real estate, while also committing capital as a limited partner to external private equity, venture capital, and hedge fund managers. This hybrid approach allows the office to blend co-investment economics with diversified access to top-tier GPs.

Waycrosse serves as the multi-family office and asset-management platform for a wide network of Cargill shareholders, including many MacMillan family members. P.W.B., founded by Whitney MacMillan, operates as an independent single-family office that at times co-invests alongside Waycrosse-managed funds but maintains a distinct pool of capital and a bespoke investment policy.

No, P.W.B. is a single-family office that does not accept outside investors, fundraise, or market investment products to third parties. The office deploys exclusively family capital derived from the Cargill fortune.

The capital originates from the MacMillan family's ownership stake in Cargill. The company, founded in 1865, is the largest private corporation in the United States by revenue and operates globally across agriculture, commodities trading, food production, and financial services. Whitney MacMillan was the last family member to serve as Cargill's chief executive, retiring in 1995.