Kenneth Poe Funeral Services

November 13, 2026

Nelson Schwab III, devoted husband, father, and grandfather, died peacefully at home on Friday, November 13, 2026, surrounded by his family. He was 81.

Nelson was a private equity pioneer and philanthropist. Over a lifetime of leadership and service, he became known for his warmth, generosity, and kindness. He made everyone he met feel that they mattered. He asked what you thought, and listened, with genuine interest, to your answer. Eternally grateful for what he called his "good fortune in life," Nelson spent that life passing it on to others.

He also loved a celebration, and his enjoyment was infectious. Nelson was known to don a costume and dole out flashing party favors, and he could always be counted on to lead the midnight conga line, as he did at one daughter's wedding.

Nelson’s career spanned banking, real estate, amusement parks, and private equity. His success in business was guided by his values, and an abiding belief that a good deal should have winners on both sides. He was equally devoted to public service, especially in support of the City of Charlotte and his beloved alma mater UNC-Chapel Hill. He leaves behind a legacy of servant leadership, community responsibility, and dedication to family.

Family first

Nelson's greatest joy was his family. He treasured his son and three daughters, and his four grandchildren, and he relished every minute with them. He showed up for games and performances, opened the world to them through travel, and knew every child's shoe, pant and dress size. He was never one to preach, but rather modeled the values instilled in him by his parents, his mentors, and his deep but quiet faith. His children learned by watching him. So too, did his grandchildren.

Nelson was also a prolific and thoughtful gift-giver. One daughter had to politely ask him to consider pulling back at Christmas, just a little bit, as he had come to eclipse Santa Claus in the eyes of his grandchildren.

The family took on a new dimension when Nelson met Jane Boatwright on a blind date in 1998. Their connection was instant. They married and built a joyful life together surrounded by children and later, grandchildren. Their home was always bustling with friends, family and celebration — especially their home in Wyoming, which became a special gathering place for decades of milestones and memories, including one daughter’s wedding.

Early years

Born in 1944, Nelson was the son of Nelson Schwab Jr. and Elizabeth Bakhaus Gale. He grew up in Cincinnati, where his great-grandfather was mayor, his grandfather a judge, and his father a prominent attorney. His mother modeled under the name Betty Bond and appeared on magazine covers such as Harper’s Bazaar in the early 1940s. Dinner table conversation focused on community issues and public service, and Nelson also absorbed his mother's kindness and attentiveness to others' needs.

With help from an older cousin, Nelson arrived at UNC-Chapel Hill knowing no one, a decision he often said changed the trajectory of his life. He graduated in 1967 with a degree in English and many lifelong friends. He was a Tar Heel through and through. Carolina taught him, he liked to say, that growth comes from "stepping outside your comfort zone." It’s also where he earned the nickname "Friday," for his overzealous welcome of weekends.

A career focused on people

After college, Nelson earned an MBA from the Wharton School of the University of Pennsylvania in 1972, and worked in investment banking in New York and real estate development in Atlanta. In 1976, his friend Dudley Taft recruited him home to Cincinnati to oversee Taft Broadcasting's real estate holdings, a move that soon put him at the helm of Taft's amusement parks division. Running a large consumer business, especially one with roller coasters, suited him perfectly. He loved building organizations and working alongside people toward long-term goals, all while creating places where families could enjoy time together.

In the era of corporate raiders, Nelson led the 1980s buyout of Taft's theme park division, a "high-wire act," friends said, to achieve a fair outcome for all. Rather than selling off pieces and cutting jobs, he chose to build up companies and people. The resulting Kings Entertainment Company moved its headquarters to Charlotte and owned five theme parks, including Carowinds. In 1992, he oversaw its sale to Paramount Communications and stayed on as Chairman and CEO of Paramount Parks through its sale to Viacom.

Along the way, he formed a close friendship with amusement park visionary Jack Herschend, whose family company partnered with Dolly Parton to develop Dollywood, and he served on that company's board for 30 years. Friends love recounting the time Nelson, in his famously low, melodic voice, advised Dolly against building a hotel. As the story goes, she replied, "Nelson, you've got the sexiest voice in the world, but I don't agree with anything you said." She was right, and a hotel went up within a few years. For his 80th birthday, Dolly sent Nelson a cheerful video featuring her rendition of "I Will Always Love You."

In 1996, Nelson and his dear friend Erskine Bowles launched Carousel Capital, a Charlotte based private equity firm investing in mid-market companies in the

Southeast. When Bowles was tapped White House Chief of Staff just months later, Nelson rebuilt the firm's pitch to investors by selecting and nurturing a talented team. He was a mentor to many, always coaching, "Do the right thing."

In the service of others

Nelson’s support for UNC-Chapel Hill was enduring. He served on the UNC-Chapel Hill Board of Trustees from 2001 to 2009, including a term as Chair, and he helped lead the selection of Holden Thorp as chancellor, expanded scholarships for low-income students, and concluded the university's Carolina First campaign which raised a historic $2 billion for the University. In 2019, Nelson was awarded an Honorary Doctor of Laws degree. He also served in countless other leadership roles at Carolina, out front and behind the scenes. One such role was on the Board of the Institute for the Arts and Humanities, which supports faculty excellence through fellowships and grants for professors; a mission in which Nelson fervently believed.

He also followed a calling to the betterment of his adopted city. While Nelson accepted the mantle of public leadership, such as chairing the Charlotte Chamber of Commerce, he preferred to work quietly behind the scenes. Without fanfare, he helped engineer sports, arts, and business initiatives in Charlotte and beyond, and he quietly carried out countless unsung acts of kindness. Stories abound of how he put others first, without public credit, helping people with tuition, rent, and health issues. One year, troubled by the sight of kids playing with tattered basketballs on a city playground, he began stopping by and tossing brand-new balls over the fence for the neighborhood kids to keep.

Nelson was deeply troubled by the number of people without homes on Charlotte's streets. He and Bowles had talked about it for years, with Nelson approaching the challenge from the heart, asking, "Can't we do better?" In 2020, convinced that the city's shortage of affordable housing was at the root of the problem, they founded the Charlotte Housing Impact Fund, leveraging their integrity and business savvy to raise more than $225 million. The Fund buys and renovates existing apartment communities and keeps rents affordable for low- and moderate-income families. As many as 10,000 residents are projected to benefit by the end of 2028. Beyond his family, it was the legacy he believed would endure longest. Nelson often teared up when talking about what it would mean for people's lives. It was evidence, daughter Anna says, that "goodness prevails."

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Nelson is survived by his wife, Jane; son Nelson Schwab IV of Kalispell, Montana; daughters Lelia Pratt and her husband Bradley Pratt of Atlanta, Elizabeth Schwab of Clinton, Connecticut, and Anna Matthews and her husband Brian Matthews of Wilson, Wyoming; grandchildren Cole, Abby and Betty Pratt, and Tucker Matthews; and nephews Forrest and Oliver Schwab.

The family offers special thanks to Dr. Lorri Ayers of Atrium Health, for her extraordinary medical care and guidance; Tammy Gray, for her friendship and loyalty over 30 years; Donna Keane, for her unwavering support over 28 years; Sherika Ewart for her compassionate care at the end of Nelson’s life; and VIA Health Partners’ hospice care.

A celebration of Nelson’s life will be held on Saturday, November 21st at 11:00am at Christ Episcopal Church, Charlotte. A visitation will be held at the Duke Mansion on Friday, November 20th from 5:00 to 7:00pm.

In lieu of flowers, a contribution in Nelson’s memory might be considered for Christ Episcopal Church, or for The Lorri Ayers, MD, Nursing Scholarship Endowment, which the family has created for nursing education at Atrium Health in honor of Dr. Ayers, or for a charity of your choice.

Arrangements are in the care of Kenneth W. Poe Funeral & Cremation Service, 1321 Berkeley Ave., Charlotte, NC 28204; (704) 641-7606.  Online condolences may be shared at www.kennethpoeservices.com.