PE Pros Join Cannning Group

We speculated earlier today that John Canning, chairman and co-founder of Madison Dearborn Capital Partners, might use the Boston Celtics model in his efforts to buy the Chicago Cubs (i.e., offer dozens of minority LP interests to other private equity pros).

Well, we’ve since learned that Canning has been a bit more selective and Chicago-focused. A source close to the process has identified the following people as having already signed on (this is not all-inclusive):

• Bruce Rauner, principal and chairman of buyout firm GTCR
• Dave Donnini, principal with GTCR
• Byron Trott, banker with Goldman Sachs known for his relationship with Warren Buffett.
• Michael Krasny, former CEO of current Madison Dearborn portfolio company CDW.
• Patrick Ryan, CEO of Aon Corp.
• Andy McKenna, who once served as Cubs chairman early in its ownership by Tribune Corp.

My Reuters colleague Ben Klayman is also reporting that the Canning group includes Larry Levy, a Chicago-based restaurateur who supplies concessions to sporting facilities like Wrigley Field. Levy was not mentioned by my source but, as I said, my list was just a partial.

Update: Ben also got (and I confirmed):

• Michael Sacks, CEO of Grosvenor Capital Management
• Michael Ferro, founder of Click Commerce (sold to Illinois Tool Works).