Former Massachusetts Governor, Deval Patrick, Joins Chicago-Based Investment Firm, Vistria Group
Deval Patrick, previously serving as Governor of Massachusetts, has taken a new professional venture by becoming a part of the Vistria Group. The Vistria Group, a significant player in the impact investment sector based in Chicago, is valued at $11 billion. One of the firm’s co-founders is Marty Nesbitt, a long time friend and associate of former President Barack Obama. This news comes from a source at Reader Wall.
Marty Nesbitt’s Association with Obama
Obama and Nesbitt have a long-standing friendship, with Nesbitt playing integral roles during Obama’s presidential campaigns as the treasurer. Apart from his political contributions, Nesbitt also presides as the chairman for the Obama Foundation. In 2013, he partnered with Kip Kirkpatrick to establish Vistria. The firm boasts of a diverse array of investments, featuring sectors such as healthcare, education, and financial services, with their newest venture being a housing fund.
Vistria’s Investment Appeal
Vistria, through its dynamic investment portfolio, has managed to attract significant investors. Notable amongst these are Hunter Point Capital and ADQ, the sovereign wealth fund based in Abu Dhabi.
Deval Patrick’s Transition to Vistria
Deval Patrick, originally from the south side of Chicago, was previously affiliated with Bain Capital starting from 2015. There, he oversaw a social impact fund. Interestingly, Patrick also has connections with Obama, as the latter endorsed Patrick’s presidential campaign in 2020. This connection likely influenced his latest position at the Vistria Group.
An inside source, who prefers to keep their identity undisclosed, has informed Reader Wall that Vistria Group looks to utilize Deval Patrick’s expertise in raising funds, sourcing deals, and improving portfolio performance. This move aims to amplify Vistria’s objectives of delivering formidable financial returns while making a substantial social impact. His extensive background working both in the government and in private sector makes him an invaluable asset for Vistria. Patrick will share his time between Massachusetts and Chicago.
