CHAIRMAN & EMERITUS
Kurt B. Karmin, a respected executive in the Chicago financial community, Second Lieutenant of the United States Army during the Korean War and beloved husband and father died on August 30, 2014 in Chicago, Illinois. Born in Berlin, Germany in 1928, Kurt and his family immigrated via Prague, Czechoslovakia to the United States in 1938, narrowly avoiding the onset of Nazi aggression. His parents, Max and Elsie Karmin, eventually settled in Hyde Park on Chicago's South Side, intent upon building a new life in America for their two sons, Ernest and Kurt. The two brothers were best friends throughout their lives. Kurt went on to attend Hyde Park High School, the University of Illinois and DePaul University, from which he earned a bachelor's degree.
Kurt spent his career building a reputation as a conscientious and insightful investor, a leader in his field. From 1973 to 1988, he was the Midwest Managing Partner for Drexel Burnham Lambert and its predecessor companies. Kurt went on to act as the Chairman and CEO of Rodman & Renshaw until 1993, later he retired from his own firm, Karmin Capital. Possessed of a perceptive intellect, he successfully navigated complex capital markets, over a long career spanning across the energy crisis of the early 1970s and the current pipeline infrastructure boom. Kurt could be seen giving sound advice on these topics to an audience on his long running television show, "Ask an Expert". Kurt was also an active member of his community, serving on the boards of the Selfhelp Home of Chicago and North Shore Country Day School.
Kurt married a fellow Berlin native, Lonny Blumenstein, whom he adored. Together they raised four children: Kathryn (Tom) Shafer, Kenneth (Beth), Philip (Lynne) and Peter (Linda). He is also survived by fourteen grandchildren: Hannah, Max, Henry, Ben, Chloe, Rachel, Sydney, Charlie, Alex, Edmund, Katie, Andrew, William and Dusty.
Kurt B. Karmin was a beacon of clarity in an increasingly confused world. He loved the United States of America and was forever loyal to the country that allowed him to live freely as a Jew and rekindle his life out of the ashes of postwar Europe.
SENIOR MANAGING DIRECTOR
May 15, 2016
I am sorry to inform you that my brother, Philip Karmin, passed away last week at the age of 52. Philip died after a battle with non-smokers lung cancer.
Phil started working with my dad (Kurt Karmin) and Marion Washer in 1989 at Drexel Burnham Lambert. The three of them left Drexel and worked together for approximately 25 years managing your assets through numerous business cycles. They started Karmin Capital Management LLC in January of 2012. I joined Karmin Capital in late 2013 to add additional investment and management expertise as my father's health declined. Prior to my brother's passing, we were co-managing the firm. I will continue in this role by myself.
Before joining Karmin Capital, I started a boutique investment management firm ("Fort Sheridan Advisors”) in 2009 providing customized investment advice to institutional investors. Fort Sheridan and its investment professionals now work hand-in-hand with Karmin Capital. Prior to that, I helped manage the equity, fixed income, currency and commodity portfolios for the Perot family for more than 15 years.
While we greatly miss Phil and my father, we will continue to honor my family by diligently managing your assets. You can expect the same level of personal service, attention and expert advice that you have come to appreciate.