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Steve Hilbert, Conseco Inc.'s high-flying chairman, has purchased a residence in New York City and appears to have established the Big Apple as his base of operation for the foreseeable future.
Hilbert will work out of the newly created New York office of Conseco Capital Partners II, an acquisition partnership led by Conseco that will stalk insurance companies many times larger than any previous Conseco acquisition.
Hilbert had told workers at Conseco's Carmel headquarters about the new office last month. Last week, Conesco spokesman Jim Rosensteele confirmed that Hilbert also had recently purchased a residence.
"From Steve's perspective, he has multiple residences," Rosensteele said. "As a practical matter, he will spend most of his time working out of the New York office."
For the last year or so, Rosensteele said, Hilbert has spent most of his time in such money centers as Chicago, Boston and New York City, looking at potential acquisitions, working on securities offerings, or raising funds for the new partnership.
New York makes sense as a base for the new partnership "because it's where all the key investors maintain their home offices or maintain...