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Martin Nesbitt

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Marty Nesbitt
Martin Nesbitt on Air Force One in 2009.jpg
Born
Martin Hughes Nesbitt

(1962-11-29) November 29, 1962 (age 60)
Columbus, Ohio, U.S.
EducationAlbion College (BA)
University of Chicago (MBA)
Political partyDemocratic
For the North Carolina politician, see Martin Nesbitt (politician).

Martin Hughes Nesbitt (born November 29, 1962) is an American businessman and public figure. Nesbit is co-CEO of the Vistria Group, a Chicago-based private equity firm.[1] Nesbitt is on the boards of directors of publicly traded companies CenterPoint Energy, Norfolk Southern Corporation, and American Airlines Group. Nesbitt was the founder and former CEO of The Parking Spot, an airport parking company. He was on the board of the Chicago Housing Authority.

Nesbitt is a close personal friend of former U. S. President Barack Obama and was the campaign treasurer during Obama's 2008 presidential campaign.[2] He also serves as Chairman of the Obama Foundation.

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Chicago

Chicago

Chicago is the most populous city in the U.S. state of Illinois and the third most populous in the United States after New York City and Los Angeles. With a population of 2,746,388 in the 2020 census, it is also the most populous city in the Midwest. As the seat of Cook County, the city is the center of the Chicago metropolitan area, one of the largest in the world.

Private equity

Private equity

In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a type of ownership of assets and is a class of assets, which function as modes of financial management for operating private companies that are not publicly traded in a stock exchange.

CenterPoint Energy

CenterPoint Energy

CenterPoint Energy, Inc. is an American Fortune 500 electric and natural gas utility serving several markets in the American states of Indiana, Ohio, Louisiana, Minnesota, Mississippi, and Texas. It was formerly known as Reliant Energy, NorAm Energy, Houston Industries, and HL&P. The company is headquartered in the CenterPoint Energy Tower at 1111 Louisiana Street in Downtown Houston.

American Airlines Group

American Airlines Group

American Airlines Group Inc. is an American publicly traded airline holding company headquartered in Fort Worth, Texas. It was formed on December 9, 2013, by the merger of AMR Corporation, the parent company of American Airlines, and US Airways Group, the parent company of US Airways. Integration was completed when the Federal Aviation Administration granted a single operating certificate for both carriers on April 8, 2015, and all flights now operate under the American Airlines brand.

The Parking Spot

The Parking Spot

The Parking Spot is an off-airport parking company based in Chicago, Illinois. Founded in 1998 by Martin Nesbitt, the company grew quickly to become a distinctive brand with hundreds of millions of passengers annually. The company's first backer was Penny Pritzker, a member of the prominent Pritzker family that founded and largely owns Hyatt.

Chicago Housing Authority

Chicago Housing Authority

The Chicago Housing Authority (CHA) is a municipal corporation that oversees public housing within the city of Chicago. The agency's Board of Commissioners is appointed by the city's mayor, and has a budget independent from that of the city of Chicago. CHA is the largest rental landlord in Chicago, with more than 50,000 households. CHA owns over 21,000 apartments. It also oversees the administration of 37,000 Section 8 vouchers. The current acting CEO of the Chicago Housing Authority is Tracey Scott.

Barack Obama

Barack Obama

Barack Hussein Obama II is an American former politician who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, he was the first African-American president of the United States. Obama previously served as a U.S. senator representing Illinois from 2005 to 2008 and as an Illinois state senator from 1997 to 2004, and worked as a civil rights lawyer before holding public office.

Barack Obama 2008 presidential campaign

Barack Obama 2008 presidential campaign

The 2008 presidential campaign of Barack Obama began on February 10, 2007, when Barack Obama, then junior United States senator from Illinois, announced his candidacy for President of the United States in Springfield, Illinois. After winning a majority of delegates in the Democratic primaries of 2008, on August 23, leading up to the convention, the campaign announced that Senator Joe Biden of Delaware would be the vice presidential nominee. At the 2008 Democratic National Convention on August 27, Barack Obama was formally selected as the Democratic Party nominee for President of the United States in 2008. He was the first African American in history to be nominated on a major party ticket.

Obama Foundation

Obama Foundation

The Barack Obama Foundation is a Chicago-based nonprofit organization founded in 2014. It oversees the creation of the Barack Obama Presidential Center, runs the My Brother's Keeper Alliance, and operates a scholarship program through the University of Chicago's Harris School of Public Policy.

Early life and education

Nesbitt was born and raised in Columbus, Ohio, graduating from Columbus Academy.[3] He went on to earn his bachelor's degree from Albion College in Albion, Michigan, in 1985. After working as a financial analyst at GMAC, he won a fellowship to study at the University of Chicago Graduate School of Business, where he earned an MBA in 1991.

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Columbus, Ohio

Columbus, Ohio

Columbus is the capital and most populous city of the U.S. state of Ohio. With a 2020 census population of 905,748, it is the 14th-most populous city in the U.S., the second-most populous city in the Midwest after Chicago, and the third-most populous U.S. state capital. Columbus is the county seat of Franklin County; it also extends into Delaware and Fairfield counties. It is the core city of the Columbus metropolitan area, which encompasses 10 counties in central Ohio. It had a population of 2,138,926 in 2020, making it the largest metropolitan entirely in Ohio and 32nd-largest city in the U.S.

Columbus Academy

Columbus Academy

Columbus Academy (CA) is a selective, independent college-preparatory school for students from pre-kindergarten to twelfth grade. The school is located on a large, secluded campus surrounded by wooded areas in Gahanna, Ohio in the United States, 8 miles from downtown Columbus. The Academy was founded in 1911 by J. L. Hamill in Bexley, Ohio and moved to its current campus in 1968. Originally an all-boys school, it became coeducational in 1991 when the Board of Trustees decided to admit girls. From its conception, the school expanded over time to a matriculation level of 1,000 students. Columbus Academy students and alumni often refer to the school as "Academy."

Albion College

Albion College

Albion College is a private liberal arts college in Albion, Michigan. The college was founded in 1835 and its undergraduate population was approximately 1,500 students as of Fall 2021.

Albion, Michigan

Albion, Michigan

Albion is a city in Calhoun County in the south central region of the Lower Peninsula of the U.S. state of Michigan. The population was 7,700 at the 2020 census and is part of the Battle Creek Metropolitan Statistical Area.

Ally Financial

Ally Financial

Ally Financial is a bank holding company organized in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan. The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and an electronic trading platform to trade financial assets.

Business career

From 1996 to 1998, he worked as a vice president of Pritzker Realty group and in 1998, he founded The Parking Spot along with investor Penny Pritzker.[4] The Parking Spot offers airport parking services primarily for business travelers.[5]

In 2013, he co-founded The Vistria Group, a private equity firm, with Chicago businessman Kip Kirkpatrick.[2][6][7] Both Nesbitt and Kirkpatrick are on the board of Rush University Medical Center.[6] Along with a series of other funds, The Vistria Group acquired Apollo Education Group, one of the world's largest private education providers, in 2017, and the parent company of University of Phoenix.[8] The firm has over $3.1 billion in assets under management from institutional investors like public retirement plans, corporations, endowments or foundations, high net-worth families, non-U.S. investors and financial institutions.[6] Nesbitt additionally serves on the board of CenterPoint Energy, a natural gas and electric company.[9]

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Pritzker family

Pritzker family

The Pritzker family is an American family engaged in entrepreneurship and philanthropy, and one of the wealthiest families in the United States of America. Its fortune arose in the 20th century—particularly through the founding and expansion of the Hyatt hotel corporation.

Penny Pritzker

Penny Pritzker

Penny Sue Pritzker is an American billionaire businesswoman and civic leader who served as the 38th United States secretary of commerce in the Obama administration from 2013 to 2017. She was confirmed by a Senate vote of 97–1.

Private equity

Private equity

In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a type of ownership of assets and is a class of assets, which function as modes of financial management for operating private companies that are not publicly traded in a stock exchange.

University of Phoenix

University of Phoenix

University of Phoenix (UoPX) is a private for-profit university headquartered in Phoenix, Arizona. Founded in 1976, the university confers certificates and degrees at the certificate, associate, bachelor's, master's, and doctoral degree levels. It is institutionally accredited by the Higher Learning Commission and has an open enrollment admissions policy for many undergraduate programs. The school is currently owned by Apollo Global Management and Vistria Group, two US private-equity firms, but is in the process of being sold.

CenterPoint Energy

CenterPoint Energy

CenterPoint Energy, Inc. is an American Fortune 500 electric and natural gas utility serving several markets in the American states of Indiana, Ohio, Louisiana, Minnesota, Mississippi, and Texas. It was formerly known as Reliant Energy, NorAm Energy, Houston Industries, and HL&P. The company is headquartered in the CenterPoint Energy Tower at 1111 Louisiana Street in Downtown Houston.

Relationship with Barack Obama

Nesbitt met Barack and Michelle Obama through Michelle Obama's brother Craig Robinson who was a high school basketball coach. He supported Obama's 2004 U.S. Senate bid and was the treasurer on his 2008 presidential campaign. Nesbitt is currently on the foundation planning board for the home of the future Barack Obama Presidential Library and Museum.[10]

Source: "Martin Nesbitt", Wikipedia, Wikimedia Foundation, (2023, March 5th), https://en.wikipedia.org/wiki/Martin_Nesbitt.

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Further Reading

Federico Peña

Daniel Hynes

Penny Pritzker

John Riccitiello

Mona Sutphen

John W. Rogers Jr.

Anthony W. Miller

Robert E. Grady

Barack Obama Presidential Center

Juliana Stratton

Jesse Ruiz (politician)
References
  1. ^ "Martin Nesbitt-bio". vistria.com. Retrieved April 6, 2019.
  2. ^ a b Harris, Melissa (January 21, 2013). "Executive Profile: Martin Nesbitt, the first friend". Chicago Tribune. Retrieved May 17, 2018.
  3. ^ Chicago Tribune: "Executive Profile: Martin Nesbitt, the first friend - Drive to succeed evident in business, with family, on basketball court" By Melissa Harris January 21, 2013
  4. ^ "Martin Nesbitt". Business Makers. The History Makers. Retrieved 2 January 2014.
  5. ^ Sharkey, Joe (November 6, 2007). "The Lowly Parking Garage With the Colorful Identity". The New York Times. Retrieved 2 January 2014.
  6. ^ a b c "A new kind of private-equity firm". Crain's Chicago Business. 2019-10-04. Retrieved 2019-10-18.
  7. ^ "Martin Nesbitt". Washington Post. 25 July 2012. Archived from the original on 6 February 2015. Retrieved 2 January 2014.
  8. ^ "Investor Consortium Completes Acquisition of Apollo Education Group, Inc". www.businesswire.com. February 2017. Retrieved 2017-05-16.
  9. ^ "Martin Nesbitt | Board of Directors | CenterPoint Energy, Inc". investors.centerpointenergy.com. Retrieved 2020-09-17.
  10. ^ Jackson, David (2014-01-31). "Obama library foundation is formed". Usatoday.com. Retrieved 2014-05-16.
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