By Kathleen Gallagher of the Journal Sentinel
Longtime Robert W. Baird investment banker Paul Carbone has been hired as a managing partner of the private investment firm of the Pritzker family.
Carbone will lead private equity investing activities for The Pritzker Group, which is led by Tony Pritzker and J.B. Pritzker. The group focuses on investing in companies valued at $50 million to $400 million.
The group is most famous for owning the Hyatt hotel chain and the Marmon Group, a conglomerate of manufacturing and industrial service companies. The Pritzkers are one of the wealthiest families in the country.
“Paul has an outstanding track record growing and scaling a strong investment group at Baird, and he understands how to help company management teams build long term value, which is what we’re all about at The Pritzker Group,” said J.B. Pritzker, managing partner.
Carbone was director and managing partner of Baird Private Equity. During his 18 years at the firm, he helped spearhead growth of its private equity business from $23 million raised and managed in early 1994 to $2.8 billion with 60 investment professionals in the U.S., Asia and Europe, the Pritzker Group said in a news release.
Baird has named Gordon Pan managing partner of Baird Private Equity, to replace Carbone. Pan has worked at Baird for 10 years.