A Chicago-area ETF heavyweight who helped steer a multibillion-dollar sale to Goldman Sachs has scooped up a $55 million waterfront mansion in Naples’ Port Royal enclave. John and Julie Southard closed last Wednesday on the six-bedroom Cutlass Lane estate, according to public records. The buy comes on the heels of a December announcement that Goldman would acquire Innovator Capital Management, the ETF firm Southard co-founded, in a deal valued at roughly $2 billion.
MLS records and listing pages show the Cutlass Lane home ultimately sold for $55 million after hitting the market at $60 million in October, with the sale recorded in mid-January, according to Zillow. Crain’s Chicago Business identified the Southards as the buyers and reported that the closing price came in at about 92 percent of the ask, and Crain’s Chicago Business first highlighted the local Chicago angle on the splashy purchase.
Seller Tied To Chicago Private Equity
The sellers were an entity linked to Collin and Joanna Roche of Chicago, according to reporting, with the listing originating from a trust associated with the Roches. The Wall Street Journal detailed the transaction and the Roches’ role, and public executive profiles list Collin Roche as a co-CEO of private equity firm GTCR, underscoring that Chicago money sat on both sides of this Port Royal table. Mergr shows Roche’s leadership position at the firm.
The House In Port Royal
The Cutlass Lane estate is listed with roughly 15,300 square feet of living space, six bedrooms, multiple formal rooms, an outdoor pool, and a private dock on Cutlass Cove, according to the MLS listing reflected on Compass. Built in 2017, the property sits on a deep waterfront parcel and is eligible for membership in both the Port Royal Club and the Cutlass Cove Beach Club, amenities that help keep Port Royal’s price tags firmly in trophy territory.
Timeline And The Brokers Who Moved The Deal
The house first went public at $60 million in October, moved under contract in mid-December, and closed in January, according to MLS price history and archived listing snapshots. William Raveis agents Thomas Campbell Jr. and Richard Prebish are shown as the listing brokers for the sellers, while Lisa Roth of Sun Realty represented the buyers. Those agent credits and the step-by-step timeline appear on local listing sites such as Homes.com.
Southard, Innovator, And The Goldman Deal
Goldman announced in December that it would acquire Innovator Capital Management in a roughly $2 billion transaction as part of a broader push into active ETFs, with industry coverage laying out the price tag. Proactive Investors reported the headline consideration, and SEC filings show that Southard owns more than a 25 percent stake in Innovator. By straightforward math, an interest above 25 percent in a $2 billion deal would equate to roughly $500 million in value for that stake, although what actually hits the bank will hinge on the transaction’s payout structure and any performance-based features laid out in those filings.
Port Royal’s Streak Of Headline Sales
The Cutlass Lane purchase joins a string of recent marquee Port Royal deals, including an $85 million Admiralty Parade sale to David and Jerri Hoffmann and a separate combined $225 million Gordon Drive block sale. Local coverage has held up those trades as proof that Naples’ ultra-luxury market is still luring trophy buyers and top-tier waterfront parcels, as detailed by Gulfshore Business and the Business Observer…