Note: to illustrate the motion of the pad more clearly, I made a video.
Let the pad have radius $R$.
Imagine looking down on the pad from above. The baby is on the right, crawling counterclockwise.
The center of mass of the (baby + pad) system can't move. In the picture below, the green circle represents the starting position of the pad. The starting position of the baby is marked with an arrow pointing in the direction of its motion. $C$ is the center of the pad, pointing in its direction of motion (opposite the baby's by conservation of momentum). $M$ is the center of mass of the system. $d = R\frac{m}{m+M}$ is the distance from the center of the pad to the center of mass of the system.

As time goes on, the baby moves around the edge, and the lily pad moves to stay perfectly opposite the baby. This ensures that the center of mass doesn't move. Because the length $d$ is fixed, $C$ must always stay the same distance from $M$, so $C$ must move in a circle around $M$. The baby moves in another circle of radius $R-d$ so that the distance between the center of the pad and the baby remains $R$. We can draw in the trajectories of the point $C$ and the baby, and add a radius, like this:

Together, the baby and the center of the pad have only one degree of freedom. Either of them can choose to be at any given point on their trajectories, but the other one is then forced to be opposite them. Let's describe their positions by an angle $\theta$ from the horizontal. To show this, I'll move the baby up a bit and draw in $\theta$.

The lily pad has one more degree of freedom - its rotation. Let's call its rotation relative to the water (relative to north) $\phi$.
The total angular momentum of the system is zero. There are contributions from the translational angular momentum of the pad and the baby, and the rotational angular momentum of the pad. This gives
$$Md^2\dot{\theta} + m(R-d)^2\dot{\theta} + \frac{MR^2}{2}\dot{\phi} = 0$$
Simplifying the algebra using the expression for $d$, then integrating over time and using the initial condition $\phi(0) = \theta(0) = 0$, we get
$$\phi = \frac{-2m}{m+M}\theta$$
$\phi$ is what we're after, but we want to know $\phi$ after the baby has crawled far enough to return to its starting point. The minus sign on $\phi$ indicates that the pad spins counter to the rotation of pad and baby around the center of mass.
To find $\phi$, we need to use the information about the total amount the baby crawls. Introduce a new angle $\alpha$ that represents how much the baby has crawled around the pad from the pad's point of view - we are done when the baby gets to $\alpha = 2\pi$.
The true speed of the baby (relative to the water) is $(R-d)\dot{\theta}$. Another way to calculate this is to find the baby's speed relative to the pad, then add the pad's speed relative to the water. We don't need to worry about vectors here because all motion is tangent to the baby's trajectory. This gives
$$(R-d)\dot{\theta} = R\dot{\alpha} + R \dot{\phi} - d\dot{\theta}$$
(note: I originally left out the term $R \dot{\phi}$, which led the initial answer to be off) This simplifies to
$$\theta = \alpha + \phi$$
again using the initial condition $\theta(0) = \alpha(0) = 0$. We want $\alpha = 2\pi$, so set $\theta = 2\pi + \phi$. After simplifying, this gives the final answer
$$\phi = \frac{-4\pi m}{3m+M}$$