Pritzker Private Capital, a middle-market investment firm, has promoted Michael Nelson, currently head of investing, to managing partner and David Gau, currently head of operations, to chief operating officer. Co-Founder and managing partner Paul Carbone intends to step back from day-to-day management of the firm effective January 1, 2023. 

Carbone has led PPC’s development with over 55 professionals working in partnership with its family of companies. Initially, Carbone will continue to chair the firm’s management and investment committees and will continue to be involved with PPC’s network of family investment groups.

As 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 middle-market businesses in the firm’s core sectors, including add-on acquisitions across the firm’s family of companies. Prior to joining Pritzker, he was a managing director at Wind Point Partners where he led investments in the specialty manufacturing and packaging sectors.

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. PPC’s operations group, which he currently leads as partner and head of operations, supports the firm’s operating company investments by providing subject matter experience across a range of disciplines, including lean manufacturing, digitization, strategy, human capital and risk management. Prior to Pritzker, Gau was chief executive officer of Intersystems.

“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,” comments Tony Pritzker, chairman and CEO of PPC. “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.”