PPC co-founder Carbone to step back from day-to-day management duties

In conjunction with this transition, PPC has promoted Michael Nelson to managing partner and David Gau to chief operating officer.

  • Currently, Nelson is head of investing while Gau is head of operations
  • Initially, Carbone will continue to chair the firm’s management and investment committees and be actively involved with PPC’s network of family investment groups
  • Nelson joined PPC in 2012 and Gau came on board in 2014

Pritzker Private Capital co-founder Paul Carbone, who has served as the firm’s president and managing partner since 2012, is stepping back from his day-to-day management activities, starting on January 1, 2023.

In conjunction with this transition, PPC has promoted Michael Nelson, currently head of investing to managing partner and David Gau, currently head of operations, to chief operating officer, reporting to Chairman and CEO Tony Pritzker.

Though he will have no direct reports, as president of PPC, Carbone initially will continue to chair the firm’s management and investment committees and to be actively involved with PPC’s network of family investment groups.

“Paul redefined the family direct investment market,” said Tony Pritzker in a statement. “He understood the massive untapped potential of combining the talent and processes of an institutional-quality franchise with the philosophy and ownership models of family capital. Paul has been an incredible partner in driving our firm’s growth over the last 11 years and truly lives our time-tested values in partnership with our companies, investors and colleagues. While he intends to begin stepping back from his day-to-day management role, I am thrilled he will continue to be involved in helping oversee our strategy and supporting our firm and our operating companies.”

As incoming managing partner, Nelson will continue to lead PPC’s investing efforts and will oversee the firm’s investing and partner relations teams. In his current role as partner and head of investing, he leads the sourcing and execution of new partnership opportunities with growth-focused middle-market businesses in the firm’s core sectors, including add-on acquisitions across the firm’s family of companies.

In the newly created role of chief operating officer, Gau will continue leading PPC’s team of experienced operating professionals and will also oversee the firm’s internal operations team.

Nelson joined Pritzker Private Capital in 2012. Prior to joining Pritzker Private Capital, he was a managing director at Wind Point Partners. Before that, Nelson served as vice president of finance for Esurg Corporation and spent four years in investment banking with Vector Securities.

Gau joined Pritzker Private Capital in 2014. Prior to joining PPC, he was CEO of Intersystems. Before that, he served as executive vice president of global commercial operations and group president of Industrial Fluid Power for Gates Corp.

Pritzker Private Capital partners with middle-market companies based in North America with leading positions in the manufactured products and services sectors.