The investment arm of a Chicago single family office with a taste for alternatives, both funds and directs, has named as chairman Ashley Joyce, the granddaughter of the family patriarch.
“I am thrilled about this next chapter, as it heralds the arrival of the next (3rd) generation of leadership,” wrote Craig Duchossois on a Linkedin post. Duchossois said he would turn over the chairman role at Duchossois Capital Management to Joyce while he takes the role of executive chair emeritus. Duchossois also revealed that Rich Naski, who has recently served as COO of DCM, as well as VP and head of family office at The Duchossois Group, has been named chief executive officer of DCM. At press time we were unable to reach executives at the family office for comment.
Background: Joyce has served on the board of DCM for more than nine years, in addition to serving as chairman of the Duchossois Family Foundation, whose mission is to improve the lives of members of the military. Earlier in her career Joyce, who has a degree in social work, worked as a therapist for individuals, couples and families.
The Fund Portfolio: David Jallits, who joined DCM in 2018, remains chief investment officer of DCM, which was founded in 2013 by Duchossois after his successful run as a venture capitalist with Duchossois Technology Partners. On the fund side, DCM backs venture capital, growth equity, buyouts, real estate and other kinds of alternative investment funds. It’s particularly drawn to technology and healthcare investments and will back a first-time fund so long as it has “a proven track record,” according to its Web site. The firm also has an appetite for co-investments.
Direct Investments: On the direct side, DCM acquires North American platform companies generating EBITDA of $10 million to $100 million on revenue of $50 million to $1 billion. The firm’s Web site lists 12 active portfolio companies, including Magical Beginnings Learning Centers and home healthcare provider Sevita. In real estate, the firm tends to invest $20 million to $75 million at a time in North American office, industrial, residential and commercial projects.
Family Patriarch: Born in 1921, Richard Louis Duchossois made his fortune in manufacturing rail cars and defense-related products as well as through investments in Arlington Park and Churchill Downs race tracks. He lived to 100.
Members can access our profile of Duchossois Capital Management here.