We report the discovery of a tight substellar companion to the young solar analog PZ Tel , a member of the \beta Pic moving group observed with high contrast adaptive optics imaging as part of the Gemini NICI Planet-Finding Campaign .
The companion was detected at a projected separation of 16.4 \pm 1.0 AU ( 0.33 \pm 0.01 ” ) in April 2009 .
Second-epoch observations in May 2010 demonstrate that the companion is physically associated and shows significant orbital motion .
Monte Carlo modeling constrains the orbit of PZ Tel B to eccentricities > 0.6 .
The near-IR colors of PZ Tel B indicate a spectral type of M7 \pm 2 and thus this object will be a new benchmark companion for studies of ultracool , low-gravity photospheres .
Adopting an age of 12 ^ { +8 } _ { -4 } Myr for the system , we estimate a mass of 36 \pm 6 M _ { Jup } based on the Lyon/DUSTY evolutionary models .
PZ Tel B is one of few young substellar companions directly imaged at orbital separations similar to those of giant planets in our own solar system .
Additionally , the primary star PZ Tel A shows a 70 \mu m emission excess , evidence for a significant quantity of circumstellar dust that has not been disrupted by the orbital motion of the companion .