Leadership

In real estate, experience matters.

Our people bring a unique investment perspective informed by decades of experience, thousands of transactions and deep relationships. Collaboration and sharing resources across our teams help us to deliver the best of our firm to investors and our real estate partners.

Executive Team

John Blumberg,  Co-Founder and Managing Partner

John Blumberg
Co-Founder and Managing Partner

John Blumberg, is a principal of Black Creek Group, a Denver-based real estate investment firm he co-founded in 1993. He is also a co-founder of Mexico Retail Properties, and his primary role has been serving as its Chief Executive Officer since 2002. In addition, he has served as a director of Black Creek Diversified Property Fund Inc. since January 2006, and also as the Chairman of the Board of Directors from January 2006 to September 2012 and Chairman of the Investment Committee from 2006 to present. Mr. Blumberg is a manager of Black Creek Diversified Property Advisors LLC, the advisor to Black Creek Diversified Property Fund Inc., Industrial Property Advisors LLC, the advisor to Industrial Property Trust Inc., BCI IV Advisors LLC, the advisor to Black Creek Industrial REIT IV Inc., and Industrial Income Advisors LLC, the advisor to Industrial Income Trust Inc., which was sold in November 2015.

Mr. Blumberg has been active in real estate acquisition, development and redevelopment activities since 1993 and as of June 30, 2017, with affiliates, has overseen directly, or indirectly through affiliated entities, the acquisition, development, redevelopment, financing and sale of real properties having combined value of approximately $17.4 billion.

Prior to co-founding Black Creek Group, Mr. Blumberg was President of JJM Investments, which owned more than 100 shopping center properties in Texas. During the 12 years prior to joining JJM Investments, Mr. Blumberg served in various positions with Manufacturer's Hanover Real Estate, Inc., Chemical Bank and Chemical Real Estate, Inc., most recently as President of Chemical Real Estate, Inc. and its predecessor company, Manufacturer's Hanover Real Estate, Inc. In this capacity Mr. Blumberg oversaw real estate investment banking, merchant banking and loan syndications and was involved in originating more than $1 billion of participating mortgage and conventional loans during his tenure.

Mr. Blumberg received a bachelor's degree from the University of North Carolina at Chapel Hill.

Jim Mulvihill,  Co-Founder and Managing Partner

Jim Mulvihill
Co-Founder and Managing Partner

Jim R. Mulvihill, is a principal of Black Creek Group, a Denver-based real estate investment firm he co-founded in 1993. In addition, he is a manager of Black Creek Diversified Property Advisors LLC, the advisor to Black Creek Diversified Property Fund Inc., Industrial Property Advisors LLC, the advisor to Industrial Property Trust Inc., BCI IV Advisors LLC, the advisor to Black Creek Industrial REIT IV Inc., and Industrial Income Advisors LLC, the advisor to Industrial Income Trust Inc. From its inception until 2006, Mr. Mulvihill was the Chief Financial Officer of Dividend Capital Trust, prior to it listing on the NYSE as DCT Industrial Trust (NYSE: DCT). He was also a director of DCT Industrial Trust from its inception until 2009.

He was also a co-founder and served through 2005 as Chairman of the Board of Corporate Properties of the Americas, a joint venture between an affiliate of Black Creek Group LLC and Equity International Properties, that acquires, develops and manages industrial properties throughout Mexico.

Mr. Mulvihill has been active in real estate acquisition, development and redevelopment activities since 1992 and as of June 30, 2017, with affiliates, has overseen directly or indirectly through affiliated entities, the acquisition, development, redevelopment, financing and sale of real properties having combined value of approximately $17.4 billion.

In 1993, Mr. Mulvihill co-founded American Real Estate Investment Corp. (which subsequently became Keystone Property Trust, NYSE: KTR) which was an industrial, office and logistics REIT and was acquired by ProLogis Trust (NYSE: PLD) in August 2004. The acquisition of Keystone Property Trust by ProLogis Trust occurred after Mr. Mulvihill's subsequent service on Keystone's board. Mr. Mulvihill served as the Chairman and as a director of American Real Estate Investment Corp. from 1993 to 1997 and as a director of Keystone Property Trust from 1997 to 2001.

Prior to co-founding Black Creek Group, Mr. Mulvihill served as Vice President of the Real Estate Banking and Investment Banking Groups of Manufacturer's Hanover and subsequently Chemical Bank, where his responsibilities included real estate syndication efforts, structured debt underwritings and leveraged buyout real estate financings.

Mr. Mulvihill received a bachelor's degree in political science from Stanford University.

Evan Zucker,  Co-Founder and Managing Partner

Evan Zucker
Co-Founder and Managing Partner

Evan H. Zucker, is a principal of Black Creek Group, a Denver-based real estate investment firm he co-founded in 1993. In addition, Mr. Zucker serves as Chairman of the Board of Industrial Property Trust Inc. and Black Creek Industrial REIT IV Inc., and is a manager of Black Creek Diversified Property Advisors LLC, the advisor to Black Creek Diversified Property Fund Inc., Industrial Property Advisors LLC, the advisor to Industrial Property Trust Inc., BCI IV Advisors LLC, the advisor to Black Creek Industrial REIT IV Inc., and Industrial Income Advisors LLC, the former advisor to Industrial Income Trust Inc. Mr. Zucker also served as Chairman of the Board of Industrial Income Trust Inc.

From its inception until 2006, Mr. Zucker was the Chief Executive Officer, President, Secretary and a director of Dividend Capital Trust, prior to it listing on the NYSE as DCT Industrial Trust (NYSE:DCT). Mr. Zucker is also a co-founder of Corporate Properties of the Americas, a private industrial real estate company in Mexico that was sold to a pension fund investor.

Mr. Zucker has been active in real estate acquisition, development and redevelopment activities since 1989 and as of September 30, 2016, with affiliates, has overseen directly, or indirectly through affiliated entities, the acquisition, development, redevelopment, financing and sale of real properties having combined value of approximately $16.6 billion.

In 1993, Mr. Zucker co-founded American Real Estate Investment Corp. (later known as Keystone Property Trust, NYSE: KTR) which was an industrial, office and logistics REIT and was acquired by ProLogis Trust (NYSE: PLD) in August 2004. The acquisition of Keystone Property Trust by ProLogis Trust occurred after Mr. Zucker's subsequent service on Keystone's board. Mr. Zucker served as the President and as a director of American Real Estate Investment Corp. from 1993 to 1997 and as a director of Keystone Property Trust from 1997 to 1999.

Mr. Zucker received a bachelor's degree in economics from Stanford University.

Raj Dhanda,  Chief Executive Officer

Raj Dhanda
Chief Executive Officer

Raj Dhanda joined Black Creek Group in 2016 as President, Black Creek Group U.S., responsible for the oversight of distribution, marketing, product development, operations and legal functions. In April 2017, Mr. Dhanda was appointed President, Black Creek Diversified Property Fund Inc. and President of Black Creek Industrial REIT IV Inc. In May 2018, Mr. Dhanda was appointed Chief Executive Officer, Black Creek Group.

Prior to joining Black Creek Group, Mr. Dhanda spent 26 years at Morgan Stanley, leading key divisions of their Institutional and Wealth Management platforms, while also serving on the firm’s Management and Risk Committee for his last eight years. Most recently, he was Head of Investment Products and Services in Wealth Management, responsible for all of the products distributed by Morgan Stanley's financial advisors. In this capacity, he worked closely with the firm's financial advisors and third party asset managers to design and distribute products offering a breadth of investment solutions. In addition, as a member of the division’s Executive and Operating Committees, Mr. Dhanda worked to develop strategies for the changing regulatory environment and the opportunities that technology and data offer today in the wealth management channels.

Mr. Dhanda holds a BA in both Business Economics as well as Organizational Behavior & Management from Brown University.

Dwight Merriman,  Head of Real Estate

Dwight Merriman
Head of Real Estate

Dwight Merriman joined Black Creek Group in 2010 as the CEO of Black Creek Group's industrial platform. Mr. Merriman currently serves as Head of Real Estate for Black Creek Group, responsible for the oversight of the investment process for industrial, office, retail and multi-family investments. In April 2017, Mr. Merriman was appointed Managing Director, Chief Executive Officer, Black Creek Diversified Property Fund Inc. Mr. Merriman has also served as Managing Director, Chief Executive Officer and a member of the board of directors of Industrial Property Trust Inc. and Black Creek Industrial REIT IV Inc.

Mr. Merriman has been active in acquisition, development, value-added investment opportunities, and operations activities related to industrial and office property acquisitions since 1984. Prior to joining the Black Creek Group, he served for three years as a Managing Director at Stockbridge Capital Group LLC; for seven years as a Managing Director at RREEF Funds where he started CalSmart, a $1.2 billion value-added real estate investment firm with the California Public Employees’ Retirement System; and for five years as Managing Director at Carr America Realty Corporation. Prior to that, Mr. Merriman spent 11 years developing office and industrial property in Southern California with Overton, Moore & Associates.

Mr. Merriman holds a BS in Business Administration from the University of Southern California and an MBA from the University of California at Los Angeles.

Bob Batting,  Managing Director

Bob Batting
Managing Director

Bob Batting joined Black Creek Group in 2005 and is currently a Managing Director, responsible for the oversight of the company’s Mexico platform companies and investment strategies.

Mr. Batting currently serves as the Chief Executive Officer of Gran Ciudad, Black Creek Group’s Mexican multifamily real estate platform company. Mr. Batting previously was the Chief Investment Officer for MIRA, Black Creek Group’s Mexican urban mixed-use real estate development platform company, where he was responsible for managing the company’s acquisition, investment, strategic disposition and fundraising activities through 2015. 

Mr. Batting holds a B.S.E. in Naval Architecture and Marine Engineering from the University of Michigan College of Engineering.

Heather Grubbs,  Managing Director

Heather Grubbs
Managing Director

Heather Grubbs is Managing Director, Chief Marketing Officer, for Black Creek Group. Ms. Grubbs oversees all aspects of the firm’s marketing strategy, brand management and public relations.

Prior to joining Black Creek Group, Ms. Grubbs served as Vice President of Marketing for a division of Fidelity Investments based in Denver, where she was responsible for firm-wide marketing of its sector investment products and oversaw marketing for the launch of its ETF division and proprietary ETF products. She previously held senior positions at Janus Capital Group (now Janus Henderson), Old Mutual Investment Partners and Transamerica.

Ms. Grubbs holds a B.A. in English from Boston University and a M.S.in Communications from University of Denver.

Andrea Karp,  Managing Director

Andrea Karp
Managing Director

Andrea Karp serves as head of due diligence at Black Creek Group. Ms. Karp has also served as the Senior Vice President of Real Estate of IPT since January 2014 and previously for IIT from August 2010 to November 2015.

From 2006 to 2007, Ms. Karp was Vice President of Fremont Investment & Loan, a California-based bank where she was responsible for originating commercial loans.

From 1997 through 2006, Ms. Karp served as First Vice President of ProLogis. In this capacity, Ms. Karp was responsible for overseeing the Asset Services team, which handled all due diligence and underwriting activities of the corporate mergers, joint ventures, financings, acquisitions and dispositions with activity levels in excess of $6 billion per year.

Ms. Karp holds a Bachelor’s Degree in Economics from the University of Colorado. Ms. Karp is a member of both CREW and NAIOP.

Jeff Taylor,  Managing Director

Jeff Taylor
Managing Director

Jeff Taylor has served as Co-Chief Operating Officer of Black Creek Group since January 2017 and has served in various management capacities with Black Creek Group since 2003.

A Chartered Financial Analyst, Mr. Taylor’s background includes investment management, risk management, product management, operating company analysis and strategic planning within financial services companies.

Prior to joining Black Creek Group, Mr. Taylor served in various positions with INVESCO Funds Group, most notably in management roles within the investment division and the distribution company as well as positions within the transfer agency.

Mr. Taylor holds a Bachelor's degree from Pennsylvania State University and an MBA from the University of Colorado at Denver.

Josh Widoff,  Chief Legal Officer

Josh Widoff
Chief Legal Officer

Joshua J. Widoff is an experienced business and real estate attorney who has been a senior member of multiple successful real estate platforms sponsored by Black Creek Group since 2007. As a senior member of management overseeing various aspects of the operation of Black Creek’s private equity funds and public REITs, Mr. Widoff also plays a lead role in structuring and launching new real estate products. He is a Managing Director of Black Creek Group. He participates daily as a member of the C-Suite, advising on matters of strategy and balancing risk to achieve business objectives. 

Prior to joining the Black Creek Group, Mr. Widoff was a partner at the Denver law firm of Brownstein Hyatt Farber Schreck, P.C., where he was active in the management of the firm, serving as chairman of the firm's Associate and Recruiting Committees and overseeing an integrated team of attorneys and paralegals servicing clients primarily in the commercial real estate business.  

Mr. Widoff was named by the Denver Business Journal in 2012 as one of Denver’s Best Corporate Counsel, is an alumnus of Leadership Denver, and has served on many charitable, community and political boards during his career. Mr. Widoff serves as Vice Chair of the Board of Commissioners of the Denver Urban Renewal Authority, where he heads the Redevelopment Committee. He also currently serves as a member of the board of directors of the U.S. subsidiary of a publicly-traded Canadian oil and gas company, Enerplus Resources (NYSE: ERF). Mr. Widoff also is an adjunct professor at the University of Colorado School of Law.

Mr. Widoff received his undergraduate degree in economics and political science from Trinity University in Texas, magna cum laude, and his law degree from the University of Colorado School of Law where he was named to the Order of the Coif.

Investment Team

Dave Fazekas,  Managing Director

Dave Fazekas
Managing Director

Dave Fazekas serves as Managing Director for the Eastern Region for Black Creek Group's industrial platform. Mr. Fazekas joined Black Creek in 2010. Mr. Fazekas has 19 years of real estate experience and is responsible for the sourcing and execution of all industrial investments in the eastern half of the US. In this role he has overseen in excess of $3.5 billion of investment cost totaling over 57.5 million square feet of industrial properties.

Mr. Fazekas holds a B.S. in Business and Economics from Rutgers University and a M.S. in Real Estate Finance and Investment from New York University. He is also a member of the New York University Real Estate Alumni Association, the National Association of Industrial and Office Properties (NAIOP).

Thomas McGonagle,  Managing Director

Thomas McGonagle
Managing Director

Tom McGonagle, Managing Director, has served as Chief Financial Officer of Industrial Property Trust Inc. (IPT) since January 2013, as Managing Director, Chief Financial Officer of Black Creek Industrial REIT IV Inc. (BCI IV) since November 2014, and as the Chief Financial Officer of DC Liquidating Trust since November 2015. Mr. McGonagle also served as the Chief Financial Officer of Industrial Income Trust Inc. (IIT) from March 2010 until November 2015.

Prior to joining Black Creek Group, Mr. McGonagle consulted for several different corporate clients, including as a director from August 2007 and Chairman of the Board of Directors of Pinnacle Gas Resources, Inc., an independent energy company, from March 2009 until the sale of the company in January 2011. From March 2007 to December 2008, Mr. McGonagle was Senior Vice President — Corporate Development at MacDermid, Incorporated, a global, specialty chemical company. Prior to joining MacDermid, from 2003 until 2006, Mr. McGonagle was Senior Vice President and Chief Financial Officer of Vistar Corporation, a $3 billion food distribution company. From 2001 to 2003, Mr. McGonagle was Managing Director and Co-Head of the U.S. Merchant Banking Group at Babcock & Brown LP in New York. Prior to joining Babcock & Brown, Mr. McGonagle was a Managing Director of the Financial Sponsors Group of Donaldson, Lufkin & Jenrette / Credit Suisse, which he joined in 1987. From 2006 until the sale of the company in January 2012, Mr. McGonagle was a director and chairman of the audit committee of Consolidated Container Company LLC.

Mr. McGonagle received his B.A. in Economics from Dartmouth College and M.B.A. from the Tuck School of Business at Dartmouth.

Lainie Minnick,  Managing Director

Lainie Minnick
Managing Director

Lainie P. Minnick, Managing Director, serves as Chief Financial Officer and Treasurer of Black Creek Diversified Property Fund (“DPF”) and Head of Debt Capital Markets of Black Creek Group.  Ms. Minnick oversees debt capital markets initiatives, financial reporting and forecasting, treasury management, the application of our NAV policies and procedures, accounting, tax compliance and other related areas of responsibilities for DPF.  In addition, Ms. Minnick develops and manages corporate and property level financing and interest rate hedging strategies as well as lending relationships for Black Creek Group’s U.S. platforms.  Ms. Minnick has overseen the execution of over $10.0 billion of financings for Black Creek Group since 2007.

Prior to joining Black Creek in 2007, Ms. Minnick was a Project Executive for Urban Villages, Inc., a Denver-based real estate development firm. From 1999 through 2004, Ms. Minnick worked for Goldman Sachs, most recently as a Vice President working exclusively with the Whitehall Funds, a series of global real estate opportunity funds. Based in both New York and London, Ms. Minnick was responsible for executing real estate related financing transactions throughout the U.S. and Europe. Prior to joining Goldman Sachs, Ms. Minnick worked for the Archon Group, a subsidiary of Goldman Sachs, where she was responsible for real estate related portfolio management and loan asset management efforts.

Ms. Minnick holds a Bachelor of Business Administration degree from Southern Methodist University and a Master of Business Administration degree from the Wharton School at the University of Pennsylvania.

Gregory Moran,  Managing Director

Gregory Moran
Managing Director

Greg Moran joined Black Creek Group in 2005 and is the head of Black Creek Group's retail platform and serves as Chief Investment Officer of Black Creek Diversified Property Fund. In his tenure at Black Creek Group, Mr. Moran has led well over $3 billion of acquisitions and dispositions and presently oversees all of Black Creek Group’s activities in the U.S. retail sector.

Mr. Moran has been an active participant in the institutional real estate community since 1998. Prior to joining Black Creek Group, Mr. Moran was a Portfolio Manager in the Real Estate Investment Group for the Public Employees’ Retirement Association of Colorado as well as a Vice President in the Capital Markets Group at Sonnenblick-Goldman Company.

Mr. Moran received his Bachelor’s Degree in Business Administration and Master’s Degree in Professional Accounting from the University of Texas at Austin—McCombs School of Business. He is also a CFA Charterholder, member of the CFA Institute, Urban Land Institute, International Council of Shopping Centers, and the Pension Real Estate Association.

Scott W. Recknor,  Managing Director

Scott W. Recknor
Managing Director

Scott Recknor joined Black Creek Group in October 2010.  Mr. Recknor currently serves as Managing Director, Head of Asset Management. During Mr. Recknor’s tenure at Black Creek Group, the industrial franchises have acquired, managed and developed an approximate $8b/105 million square foot industrial portfolio that has included approximately 550 buildings with over 1,000 customers, located in 25 top U.S. industrial markets. 

Mr. Recknor‘s responsibilities include oversight of all asset management functions including leasing, operations, third party property management and portfolio capital management. Since inception, the Asset Management team (consisting approximately 20 professionals, located in 6 offices - Atlanta – GA, Chicago – IL, Dallas - TX, Denver - CO, Meadowlands – NJ, Orange County - CA) has completed over 700 lease transactions (totaling over 42 million square feet) while processing over 350 acquisitions in to operation. 

Mr. Recknor‘s additional professional experience includes regional management positions at AMB Property Corporation (NYSE – AMB), RREEF, The Goodyear Tire & Rubber Company (NASDAQ – GT) and Colliers International (NASDAQ – CIGI).

Mr. Recknor received his BA in Political Science from the University of California – Irvine.

J.R. Wetzel,  Managing Director

J.R. Wetzel
Managing Director

J.R. Wetzel has served as Managing Director for the Western Region for Black Creek Group's industrial platform since 2011. Mr. Wetzel has more than 30 years of real estate investment and development experience in the major markets throughout the western United States with Black Creek Group, as well as with other real estate companies. Prior to joining Black Creek Group, Mr. Wetzel served as Managing Partner of PGP Partners, Inc., a company he founded from 2000 until 2011.

Prior to forming PGP Partners, Mr. Wetzel served as the Chief Operating Officer for Pacific Gulf Properties, a publicly traded REIT (NYSE: PAG).  In 2000, he was instrumental in directing the sale of Pacific Gulf’s industrial portfolio, totaling 13.5 million square feet, for $925 million to RREEF. Before joining Pacific Gulf Properties, he served in various real estate positions at companies including Industrial Developments International (IDI) and Insignia / O’Donnell. At Insignia / O’Donnell he was responsible for approximately 19 million square feet of industrial and office product throughout the western United States. Upon his departure from O’Donnell in 1994, he was serving as president. 

Mr. Wetzel received his B.A. in Economics from Claremont Men’s College and an M.B.A. in Real Estate Finance from the University of Southern California.

Distribution

Alan Brown,  Managing Director

Alan Brown
Managing Director

Alan A. Brown serves as Managing Director of Institutional Markets for Black Creek Capital Markets, LLC, where he is responsible for business development in multiple channels of distribution including Private Client, RIA/Family Office and Retirement Markets.

Prior to joining he was the Executive Vice President and Co-Head of Nuveen Investments Global Private-Client Group, and a member of Nuveen’s Executive Management Committee. At Nuveen Investments he was responsible for leading multiple aspects of the Private-Client business unit including distribution, product management and development, corporate marketing and wealth management services. Prior to his most recent position, Mr. Brown has also served in other leadership capacities including Executive Vice President, Mutual Funds and as Chief Marketing Officer for Nuveen Investments.

Before to joining Nuveen in 2001, Mr. Brown was Chief Marketing Officer at Amazon.com. During his tenure at Amazon he was responsible for strategic vision, direction and execution of all functional marketing disciplines, while serving as general manager for three business lines.

Prior to Amazon, Mr. Brown held senior management positions in the global financial services industry at MasterCard International and U.S. Bancorp. Mr. Brown holds a BA in Economics and Political Science from Stanford University.

Casey Galligan,  Managing Director

Casey Galligan
Managing Director

Casey Galligan is a Managing Director, Head of Distribution and National Accounts for the Wirehouse channel at Black Creek Capital Markets, LLC.

Prior to joining Black Creek Group, Mr. Galligan was a Managing Director in the Wealth Management Division at Morgan Stanley & Co. having served in various Sales and Product management roles within the Capital Markets and Investment Resources departments. Mr. Galligan was also a Product Specialist at Deutsche Asset Management for RREEF Property Trust.

Mr. Galligan holds a B.A. in Economics from Bucknell University.

John Norris,  Managing Director

John Norris
Managing Director

John Norris is the Managing Director and Director of National Sales for Black Creek Capital Markets, LLC, primarily responsible for managing the field sales activities of 14 Regional Vice Presidents.

Prior to joining Black Creek Group, Mr. Norris was a Managing Director with Deutsche Asset Management, where he directed the wholesaling and national account activities for the independent broker / dealer channel.

Mr. Norris has more than 25 years of experience in the financial services industry.

Mr. Norris holds a Bachelor’s degree and a Master’s of Business Administration from Southern Illinois University.

Tom Pellowe,  Managing Director

Tom Pellowe
Managing Director

Thomas Pellowe serves as Managing Director and Director of National Accounts of Black Creek Capital Markets, LLC. He is primarily responsible for enhancing Black Creek Group’s distribution opportunities within the independent, regional and bank broker / dealer channels in order to increase product sales and market share.

Prior to joining Black Creek Group, Mr. Pellowe held various positions at INVESCO Funds Group, serving most recently as vice president and national accounts manager. In this role, he was responsible for all distribution and strategic relationships in the broker / dealer intermediary marketplace. Mr. Pellowe has been active in the financial services industry since 1990.

Mr. Pellowe holds a bachelor's degree in economics and finance from Bentley University.

Steve Stroker,  Chief Executive Officer, Black Creek Capital Markets

Steve Stroker
Chief Executive Officer, Black Creek Capital Markets

Steve Stroker joined Black Creek Group in 2017 as Vice Chairman of Black Creek Capital Markets. His primary focus is to direct the firm’s capital raising efforts and shape its strategy to better service financial advisors and wealth managers, as well as expand distribution opportunities in the wealth management and registered investment advisor channels.

Mr. Stroker is a long-tenured financial services industry executive, with more than 35 years of experience in various leadership positions. He served most recently as a Senior Partner with Red Rock Strategic Partners, a business strategy consulting firm for wealth managers. Previously, Mr. Stroker served as a Regional Director at R.W. Baird, where he oversaw Baird’s wealth management offices in various states in the Midwest and Rocky Mountains. Prior to Baird, Mr. Stroker spent nearly 25 years at Smith Barney and Morgan Stanley, where he was a financial advisor, branch manager, complex director and regional director. In these capacities, he worked with thousands of Morgan Stanley financial advisors in multiple offices across the country. He also served as Head of Professional Development for Morgan Stanley.

Mr. Stroker holds a Bachelor of Science Degree in Economics and Finance from the University of Illinois and a Masters of Business Administration from the Kellogg Graduate School of Management at Northwestern University.