Ex-FCC Chair Kevin Martin Launching PE Firm
Former FCC chairman Kevin Martin is launching a private equity firm alongside Brian Bailey, who recently left his position at Carousel Partners, according to a source familiar with the situation. Based in Charlotte, N.C., Carmichael Partners will make equity investments in family-owned and closely-held private businesses. Bailey was previously a senior advisor at Carousel Capital alongside four managing partners who remain at the firm: Charles Grigg, Bill Hobbs, Jason Schmidly and Nelson Schwab. He previously had spent time at Forstmann Little & Co., The Carlyle Group and CSFB. In an email to colleagues, Bailey explained that Carmichael Partners will invest in a small number of companies in order to actively manage them. This would be attractive to families and founders wishing for an equity partner who can help grow the company while preserving its culture, he wrote.
