Today we are going to hear the story of one of the most interesting firms to spring from a significant family office. JB and Tony Pritzker approached today’s guest, Paul Carbone, with the idea of expanding their direct investments into a free-standing firm called Pritzker Private Capital. Paul takes us through that journey and we discuss the importance of a well-defined value system, the benefits of family capital, partnering with other families, the difference between flexible and patient capital, the problem with club deals, and why direct investing is not for everyone.
Paul Carbone is Co-Founder and Vice Chairman of Pritzker Private Capital. In 2012, Paul joined PPC’s predecessor company and later PPC as a managing partner and led the firm’s growth and development for more than ten years. Prior to PPC, Paul was the director and managing partner of Robert W. Baird & Co.’s Private Equity Group after serving as co‐director of investment banking responsible for Mergers and Acquisitions Advisory. Previously, Paul was senior vice president in the Investment Banking Group at Kidder, Peabody & Co. Paul received his MBA from Harvard Business School and his B.A., Phi Beta Kappa, from The College of the University of Chicago.
Please enjoy my conversation with Paul Carbone.
The Circulus Family Office Spring Summit is on May 15th at Two Manhattan West.
Register now to hear:
SPEAKERS
Jim Tanabaum
Jim is founder and CEO of Foresight Capital. One of the most exciting places AI is revolutionizing is drug discovery, and Jim is on the cutting edge. During the last three decades, Jim has been a thought partner for some of the most impactful and fastest-growth companies of their generations, including: 10x Genomics, Amerigroup, and Jazz Pharmaceuticals. We are very happy to have him!
Roger Ferguson, Former Vice-Chair of the Federal Reserve in conversation with Rebecca Patterson, economist and former chief strategist at Bridgewater.
Roger Ferguson
Mr. Ferguson served as President and Chief Executive Officer of TIAA (formerly TIAA-CREF) between 2008 and 2021. Prior to joining TIAA, Mr. Ferguson served as Chairman of Swiss Re America Holding Corporation, a global insurance company, from 2006 to 2008. Mr. Ferguson served as Vice Chairman of the Board of Governors of the U.S. Federal Reserve System from 1999 to 2006. He represented the Federal Reserve on several international policy groups and served on key Federal Reserve System committees, including Payment System Oversight, Reserve Bank Operations and Supervision, and Regulation. In addition, Mr. Ferguson led the Fed’s initial response on 9/11. From 1984 to 1997, Mr. Ferguson was an associate and partner at McKinsey & Company. Mr. Ferguson became the Steven A. Tananbaum Distinguished Fellow at the Council on Foreign Relations in 2021. Mr. Ferguson received his Bachelor of Arts in Economics, Magna Cum Laude. He also earned his J.D., Cum Laude, and a Ph.D. in Economics, all from Harvard University.
Rebecca Patterson
Rebecca is a frequent economic commentator and was most recently Chief Investment Strategist at Bridgewater Associates, where she was on the Executive Committee and was a frequent author of Bridgewater’s Daily Observations. Previously, she was CIO of Bessemer Trust, overseeing $85 billion in client assets. Before joining Bessemer, she worked globally for JP Morgan, where she was Chief Investment Strategist and ran the private bank’s global currency and commodity trading desk. Rebecca is a member of the Council on Foreign Relations and is Chair of the board of the Council for Economic Education. She holds an MBA from New York University, an MA in International Relations from The Johns Hopkins University School of Advanced International Studies, and a BS in Journalism from the University of Florida.
Francis Greenburger
Francis is an American real estate developer, literary agent, author, philanthropist, activist, and founder of Time Equities Inc., Art Omi, Inc., and the Greenburger Center for Social and Criminal Justice.
Greenburger is the founder, chairman, and chief executive officer of Time Equities Inc. Founded in 1966, Time Equities Inc. (TEI) has been in the real estate investment, development, and asset & property management business for more than 50 years. TEI currently holds approximately 43 million square feet of residential, industrial, office, and retail property across its portfolio. He is the founder and chairman of Art Omi, a sculpture and architecture park and arts center founded in 1992, which also provides residencies for visual artists, writers, dancers, musicians, and architects from all over the world. Greenburger himself is an art collector (his office is a virtual gallery) and he owns over 1,000 contemporary paintings and sculptures. He was awarded the insignia of chevalier of the Order of Arts and Letters by the French government because of his commitment to the arts and his founding of the Omi International Arts Center
Nancy Curtain
Nancy is Head of Investments and Chief Investment Officer at Alti Tiedemann Global. Nancy’s early experience includes senior investment roles as Managing Director at Schroders in venture capital and Head of global equities for the mutual fund business, as well as Head of Emerging Markets and a member of Global Asset Allocation for Baring Asset Management, where she also built a private equity business. She also led investments in a large single-family office, focused on private equity and real estate, building a private equity presence in Germany. Nancy is a Summa Cum Laude graduate of Princeton University and has an MBA from Harvard Business School.
Peter Borish
Peter is Chairman and CEO of Computer Trading Corporation (CTC), an investment and advisory firm whose largest consulting client is CIBC. Borish formerly worked at the Federal Reserve Bank of New York, was a founding partner and second-in-command at Tudor Investment Corporation, was Chairman of OneChicago, LLC, and was Chairman of the non-profits Foundation for the Study of Cycles and The Institute for Financial Markets. Borish earned a B.A. in Economics from the University of Michigan in 1981. He also earned an M.A. in Public Policy from the Gerald R. Ford School of Public Policy at the University of Michigan in 1982.
FOCUS ON THE FUTURE
Circulus Group is committed to building the largest family office network globally. We bring together industry leaders, subject matter experts, professionals, and family members from the family office world to create an engaging and dynamic event that offers valuable insights, fosters enduring relationships, and inspires attendees.
This will be a full-day event with over 75 single-family offices and panels covering the global macro picture, private credit, investing in art, and private equity, as well as a very special keynote!
EVENT DETAILS
Thursday, May 15th, 2025
Two Manhattan West, New York, NY
8:00 AM - 8:45 AM: Registration and Breakfast
8:45 AM - 10:00 AM: Volatility as Opportunity: Hedge Fund Perspectives on the New Market Regime
10:00 AM - 11:00 AM: From Dry Powder to Dealmaking: Unlocking Opportunities in Private Equity and Private Credit Today
11:00 AM - 12:00 PM Trade Wars, Tariffs, and Tail Risks: How Geopolitics Is Shaping the Global Economy
12:00 PM - 1:00 PM: Lunch and Conversation
1:00 PM - 2:00 PM: Fireside Chat Roger Ferguson in conversation with Rebecca Patterson
2:00 PM - 3:00 PM: Outlook for 2025
3:00 PM - 4:00: Keynote - Jim Tananbaum founder of Foresite Capital
4:00 PM - 5:00 PM Art - The Contemporary Art Collector: A Conversation with Francis Greenberger, founder of Time Equities
5:00 PM - 6 PM Reception
Special thanks to our friends at Clifford Chance.
Single family offices - secure your space!
Links
Family Offices Flourish in Asia. The burgeoning growth of family offices in Singapore and Hong Kong is amazing to watch, and there is real community there, though I often wonder how many of these 4,000 are actually staffed.
The Unforced Errors Billionaires Make. Barry Ritholtz’s excellent new book takes a look at common errors around paying too much in fees and chasing performance.
Charlie Paikert Hits the Beach to Cover Future Proof. Charlie soaks up the sun and ponders the question of the Great Wealth Transfer.
Coming up on the Private Capital Podcast - Mark Strauch of Alpine Partners talks about their CEO school and Joan Solotar of Blackstone considers Wall Street History and the state of asset management today. On The Inheritance Podcast, we will be talking to Ed Goodman, grandson of the founder of Bergdorf Goodman and his life in venture capital, including the first round of Apple. See you next month!
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