Paul Smith is a founding member and owner of Tenaska, one of the leading independent energy companies in the United States. In 2003, Smith formed and served as CEO of Tenaska Capital Management, a Tenaska affiliate with assets under management across multiple energy private equity funds totaling $5.4 billion. Smith remains on the Board of Tenaska.

After his retirement from day-to-day operations at Tenaska, Smith has become a leader in the Omaha metro, focusing on re-developing under-performing areas into mixed-use, high-end destinations for the community and its businesses. Smith is the lead investor in the $205 million mixed-use Capitol District in downtown Omaha, featuring a 333-room full-service Marriott, a 218-unit Class A multifamily apartment building, approximately 80,000 sq ft of retail, and a 74,000 square foot Class A office building.

Smith leads the revitalization of the $300 million mixed-use Millwork Commons neighborhood in downtown Omaha, including the notable $40 million rehabilitation of the historic Ashton millwork factory into a Class A office building with ground floor retail. To equitize this and other assets, Smith is the sponsor of an approximately $37 million private equity fund with a mixed commercial and multifamily residential investment portfolio.

Alongside its investment opportunities, PGSA drives meaningful projects to help strengthen Omaha’s urban core and define our city as a cultural and inclusive place. This is demonstrated through interesting design, public art, community engagement, entrepreneurial support, sustainability initiatives, and workforce housing (currently in its pilot phase). It is our goal to achieve desired financial returns while improving the community. We view investments through this lens, and we partner best with investors who have similar goals and values.