Paul Carbone has left his post as managing director of Baird Private Equity and has accepted a position to lead the investments of The Pritzker Group, a Chicago-based private investment firm representing the Pritzker family.
The Pritzkers are best known for their ownership of the Hyatt hotel chain.
Carbone had worked at Baird Private Equity, the Chicago-based investment business of Milwaukee-based Robert W. Baird & Co. Inc., since 1994.
“The Pritzker Group’s long-term investment approach, permanent capital base and outstanding reputation create a rare opportunity for me to help build long-term value and grow the Pritzkers’ businesses in the years ahead,” Carbone said. “I wasn’t looking to leave Baird, which I love, but this was a chance I couldn’t pass up.”
Baird said Carbone’s successor will be Gordon Pan, who has more than 20 years of finance and private equity experience, including the past seven years as a partner with Baird Capital Partners and, before that, three years as a partner with Baird Venture Partners. Pan also has been active in the development and management of Baird Private Equity’s Asia capabilities.
“I have great confidence in Gordon and the rest of the Baird Private Equity leadership team, and our private equity business has never been better positioned,” said Paul Purcell, Baird chairman, president and CEO. “In fact, 2011 was one of the group’s best years ever, and the leadership is in place to continue its record of success.”
Scott Skie, who had been Baird Private Equity’s chief administrative officer since 2005, has been promoted to chief operating officer. Aaron Rudberg, who joined Baird Private Equity in 2008, has been promoted to partner.
