The PGSA Team

Paul G Smith is the founder and CEO of PGSA, where he brings decades of experience at the highest levels of private investment, operations, and infrastructure. As a founding partner and senior executive of Tenaska—one of the nation’s largest privately held companies—Smith earned a reputation for steady leadership, disciplined capital structuring, strategic execution, and long-term performance. Smith serves as a member of Tenaska’s Board of Directors.

After Tenaska, Smith set out to build a new kind of investment firm—one that could apply institutional discipline and leadership focus across a range of opportunities. Drawing on his background in engineering and business, he founded PGSA as a flexible, high-performing investment platform. His vision was to build a firm grounded in clarity, conviction, and long-term value creation.

Smith has served numerous nonprofit boards championing causes aligned with long-term stewardship and community impact.

As Principal of PGSA, Annette Smith brings a distinct lens to the firm’s investments—drawing from her architectural training, community involvement, and intuitive understanding of placemaking. With a strong belief that diversity, equity and inclusion result in innovative solutions, her influence helps shape projects that are culturally resonant and market relevant.

Smith’s background includes decades of leadership on nonprofit boards and strategic community development initiatives. Named Citizens of the Year with husband Paul by United Way of the Midlands in 2018, she continues to serve the community through philanthropy that supports the arts, youth development, inclusive growth, environmental sustainability and entrepreneurship.

Weeces directs PGSA’s investment strategy and execution across its Mixed-Use, Venture Capital, and Hospitality verticals. He oversees equity valuation, deal sourcing and diligence, commercial negotiations, and portfolio management.

Since joining PGSA, Weeces has structured and closed over $500 million in construction loans, permanent financing, tax increment financing, and both traditional and Opportunity Zone equity. Weeces spearheaded PGSA’s expansion into the hospitality sector, shaping its investment strategy, underwriting approach, and operational model. Prior to PGSA, he worked on the Investment Analytics and Underwriting team at Javlin Capital.

Otteman, a licensed CPA, leads PGSA’s financial infrastructure and structural risk management, guiding capital planning and financial strategy across the firm’s investment verticals. He has led and executed the close of over $300 million in debt and equity placements, working closely with external stakeholders and institutional partners to ensure alignment, transparency, and long-term performance. His leadership supports PGSA’s commitment to disciplined, value-driven execution.

Before joining PGSA, Otteman was Vice President of Finance and Accounting at Landscapes Unlimited, a construction and hospitality firm managing the development and operations of over 50 golf course properties worldwide. Prior to that he worked as a manager at KPMG, with focus on both public and private companies.

As Vice President, Osberg guides the firm’s urban strategies, communication efforts, and public-facing partnerships. With a background in planning, policy, and infrastructure, he brings a thoughtful, systems-level perspective to complex urban redevelopment opportunities.

Before joining PGSA, Osberg served as Senior Director of Transportation & Urban Development at the Greater Omaha Chamber, where he oversaw development of Omaha’s Urban Core Strategic Plan, managed financial analysis underlying the Omaha Streetcar, and helped secure federal infrastructure funding for the region. Earlier roles additionally include the City of Omaha and regional planning firms, where he shaped land use policies, led multimodal transportation initiatives, and managed stakeholder engagement across public and private sectors. Osberg’s planning expertise and public-sector insight help PGSA navigate the intersection of policy, place, and investment—advancing projects strategically to deliver both impact and value.

As Director of Investor Relations, Tracy leads communication with PGSA’s investment partners, ensuring transparency, responsiveness, and alignment throughout every stage of the investment lifecycle. With a strong financial accounting background in real estate and private equity investments, Tracy bridges the firm’s investment expertise with a relationship-driven approach for long-term partnership. Past experience highlights include financial reporting for Tenaska Capital Management, a Tenaska affiliate with assets under management across multiple energy private equity funds totaling $5.4 billion, and public accounting with Deloitte in the greater Chicago region.

Gray supports the executive leadership and daily operations of PGSA, serving as a key point of contact for both internal stakeholders and external partners. She works across the firm’s investment verticals, providing logistical and administrative support with precision, driving internal process improvement, and leading special projects.

She brings a wealth of experience from previous roles, including supporting C-suite leadership at Tenaska Capital Management, and office and project management at NuStyle Development & Construction—where her passion for real estate first began. Gray is also a licensed Real Estate Salesperson

Slobotski plays a key role in shaping partnerships and ecosystem strategy for PGSA Mixed-Use investments, with a focus on external engagement, tenant curation, and connectivity within the broader community. His work bridges real estate development with community connectivity—helping projects attract the right mix of tenants, collaborators, and energy.

A longtime champion of the Midwest innovation economy, Slobotski co-founded Silicon Prairie News and launched Big Omaha —two platforms that helped define and amplify the region’s startup identity. His background in ecosystem-building across public, private, and civic sectors gives him a unique perspective on creating places where business and community intersect. His strength in connecting people, ideas, and capital continues to support PGSA’s mission.

As an Associate at PGSA, Andreasen leads the firm’s venture capital portfolio and supports the firm’s business development efforts. His PGSA Venture Capital responsibilities span investment sourcing, portfolio management, and founder support. Since joining PGSA, he has been involved in over 30 venture investments and played a key role in helping startups secure follow-on capital. With a strong foundation in financial analysis, Andreasen additionally supports PGSA’s real estate investment underwriting and active portfolio management, and drives value creation for investors and other stakeholders through strategic reporting. Prior to joining PGSA, Andreasen gained valuable experience at the Center for Entrepreneurship at the University of Nebraska at Omaha

Through her support of staff and projects throughout the firm, Foley plays a key role in maintaining daily workflow and ensuring internal alignment across teams. With a background in business management and administrative operations, Foley contributes to the firm’s overall efficiency and organizational support.

Foley’s prior experience spans both industry and nonprofit roles. She has experience managing project timelines, client communication, and cross-functional coordination, all paired with a focus on purpose-driven work that supports community impact.

As Controller at PGSA, Munro oversees financial reporting and strategic financial management, ensuring accuracy and transparency across the firm’s operations. A Certified Public Accountant and Omaha native, he applies his expertise in financial analysis and auditing to support PGSA’s investment strategies with precision and reliability. Before joining PGSA, Munro spent six years at KPMG auditing both public and private companies, followed by two years in industry finance, where he gained extensive experience in financial reporting, risk assessment, and operational efficiency. This strong background provides the foundation for guiding PGSA’s financial operations with clarity and effectiveness.

Wellman manages PGSA Mixed-Use’s real estate portfolio including Millwork Commons, the Capitol District, and other portfolio assets. Wellman leads leasing, property management and project management teams, ensuring strong day-to-day operations and strategic value creation for each asset. Wellman leverages his background in commercial banking and prior experience with Omaha-based Bluestone Development to guide financial strategy and support execution.

Michael C Lebens is a strategic advisor to PGSA, where he brings decades of experience in project execution, large-scale operations, and capital oversight. A longtime executive at Tenaska, Lebens served as President and CEO of the company’s Engineering & Operations Group, where he held profit and loss responsibility for the company’s power generating assets and oversight responsibility for engineering, construction, operations and asset management. He was also responsible for plant operation and asset management services for the power generating portfolio managed by Tenaska Capital Management, LLC. Lebens continues to serve as a consultant to Tenaska and as a member of its Board of Directors.

As a Principal of Lebens Consulting, LLC, he works closely with PGSA on its Hospitality and Mixed-use investments. His almost 10 years of involvement with PGSA spans development strategy, design execution, and operational planning—drawing on deep expertise in infrastructure, financial structuring, and risk management across complex, multi-phase projects.

Lebens lends that same thoughtful, long-view perspective to his board service and community leadership. He has contributed greatly to philanthropic organizations and foundations currently and throughout the past in various capacities. He additionally serves as a member of the Board of Directors of private equity firm McCarthy Group, LLC. Known for his steady counsel and operational clarity, Lebens is a trusted advisor to both investment firms and civic institutions navigating complexity and long-term growth.

Brewer serves as the Community Development Manager at Millwork Commons, a 50-acre mixed-use neighborhood transformed from a former industrial corridor through PGSA-sponsored investments and vision. Brewer cultivates partnerships, programs, and experiences that spark connection, creativity, and collaboration across Millwork Commons. She leads engagement efforts with tenants, local organizations, and the broader community, helping establish Millwork Commons as a hub for innovation, culture, and inclusive growth.

With a background in communications, nonprofit engagement, and community-building, Brewer brings a thoughtful, people-first approach to her work. She helps guide programming, co-creates events that bring people together, and develops tools and opportunities that make it easier for others to get involved. Brewer’s work strengthens PGSA’s investment strategy by anchoring Millwork Commons in real relationships and long-term relevance.