Ali Stewart
Associate
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- Full Name
- Ali Stewart
- Title
- Associate
- Firm
- Carlson Private Capital Partners
- Firm Type
- Family office / middle-market private equity firm (private "family capital")
- Investment Stage
- Established middle-market companies (control equity / buyout, recapitalization, and ownership-transition deals) — *not* early-stage seed
- Check Size
- Firm-level equity investments of roughly $20–$100 million
- Target Company Profile
- Founder- and family-owned businesses with ~$50–$500 million in revenue and ~$8–$40+ million in EBITDA
- Sector Focus
- Diversified middle market — e.g., broadband/infrastructure distribution, industrial automation and control systems, security/access-control technology, scientific instruments, and traffic/work-zone safety solutions
- Geographic Focus
- United States (Twin Cities–based firm)
- Location
- Minnetonka, Minnesota (701 Carlson Parkway, Suite 1500, Minnetonka, MN 55305)
Background
Ali Stewart joined Carlson Private Capital Partners (CPC) as an Associate, announced on January 10, 2019, alongside Emma Gergen, who joined as a Vice President. The two hires expanded the investment team of a firm that had launched only months earlier, in mid-2018.
Before CPC, Stewart was an analyst at Northwestern Mutual Capital, where she worked on the investment team evaluating and executing numerous private debt and equity transactions. She is a graduate of Boston College, where she earned her degree magna cum laude.
Carlson Private Capital Partners is the dedicated private-investment platform of the Carlson family, the Minnesota family behind the Carlson business empire (hospitality, travel, and marketing). The firm was founded by Andy Cantwell (Managing Partner) and Taylor Moore (Partner), who together spent twelve years at Norwest Equity Partners in Minneapolis before launching CPC. It positions itself as a long-horizon "family capital" partner — a third option for owners who don't want to sell to a strategic buyer or to a traditional, liquidity-driven private equity fund. As an Associate, Stewart would have supported deal evaluation, diligence, and execution rather than setting investment strategy or writing personal checks.
*(Note: Stewart does not appear on CPC's current team roster, suggesting she may have moved on; a person of the same name is listed elsewhere as a product manager in interventional oncology at Boston Scientific, though this could not be confirmed as the same individual.)*
Investment Thesis & Focus
- Invests committed family capital, not a time-limited fund — the firm explicitly markets "no outside pressure for short-term liquidity" and a focus on long-term value creation over "short-term gains or financial engineering."
- Targets established, profitable middle-market companies, typically founder- or family-owned businesses with ~$50–$500M revenue and ~$8–$40M+ EBITDA — a very different profile from angel/seed investing.
- Writes equity checks of ~$20–$100 million, taking meaningful ownership positions.
- Emphasizes ownership transitions and succession — partnering with owners and management teams who want continuity for their people, communities, and legacy rather than a quick sale.
- Sector-agnostic within the industrial/services middle market, with recent deals in broadband distribution, automation, security technology, and scientific instruments.
Notable Investments
- AMAG Technology — Platform investment in a Hawthorne, CA global provider of high-security access control, identity, guest, and video management solutions (serving data centers, healthcare, and education).
- Quantum Design — Portfolio company that made a strategic add-on acquisition of the Oxford NanoScience division of Oxford Instruments, extending its leadership in cryogenics, materials characterization, and quantum information.
- Millennium — Delavan, WI value-added distributor and service provider to the broadband infrastructure industry, serving 2,500+ customers.
- Thermo Systems — East Windsor, NJ global automation control-systems integrator.
- Street Smart — Provider of hardware, software, and service solutions for traffic and work-zone management/safety.
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