Pritzker Alternative Strategies Raises Nearly $385 Million Inaugural Fund from Select Family Investors

Rapid Fundraise Completed in Approximately Seven Months, Signaling Strong Family Investor Interest to Allocate to a Differentiated Family Capital Investment Firm

CHICAGO--(BUSINESS WIRE)--Pritzker Alternative Strategies LP ("PAS" or "the firm"), a differentiated family capital investment firm focused on making passive investments in high-quality private equity funds and related investment opportunities, today announced the final close of its inaugural fund, Pritzker PAS Fund LP (“PAS I”), at nearly $385 million in total commitments from select family investors.

PAS I is anchored by a core commitment from trusts for the benefit of Tony Pritzker and his family, as well as significant commitments from select other U.S. family investors.

The PAS I capital raise was completed in approximately seven months, signaling strong interest from like-minded family investors to allocate capital to high-quality funds focused on growth and value investment strategies in the United States and Europe. PAS seeks to provide family investors with a diversified portfolio of high-quality private equity funds and Alpha Products in the lower and middle-market with a focus on emerging managers, which are often harder for families to access. Alpha Products that PAS expects to invest in may include equity co-investments, continuation vehicles, secondary LP interests and other specialized opportunities.

Building on the Pritzker family legacy and chaired by Tony Pritzker, PAS is led by private markets veteran Paul Carbone. The firm’s senior team includes Chief Operating Officer Shanna Otto, who joined PAS from Promus, and Jack Farr as Principal – Investments, previously a senior member of Pantheon’s U.S. investment team, and is complemented by experienced investment and operations professionals with deep private markets experience.

“We are honored by the trust and support family investors have placed in us,” said Mr. Carbone, Co-Founder and President of PAS, and Chair of the firm’s Investment Committee. “We are building a different kind of investment firm as we strive to be a value-added partner to both fund managers and family investors. Our differentiated approach is guided by our commitment to transparency and collaboration. We strongly believe that the inherent advantages of family capital accessing the private equity market, fueled by rigorous manager selection and portfolio construction, make for a powerful combination.”

Continued Mr. Carbone, “We are thrilled to have quickly closed PAS I, especially given the current fundraising environment. Despite and, in part, because of today’s market disruption, we have strong conviction that passive investing in high-quality private equity funds can represent an attractive investment strategy, and fund managers are demonstrating significant interest in the PAS platform. As we deploy PAS I, we continue to make commitments supporting high-quality managers and deliver family capital to the private equity market with experience, discipline and certainty.”

PAS has made a significant number of fund commitments as the firm executes its strategy and expands its committed investing platform. PAS targets limited partner commitments of $10-25 million per underlying fund and $3-10 million per Alpha Product, diversified across the services, technology, value-oriented and healthcare sectors.

Supporting the firm’s experienced team is a group of Senior Advisors composed of private markets and family capital leaders with extensive experience guiding prominent family groups. PAS Senior Advisors include Michael J. Batal III, former Managing Director at Kemnay; Phillip J. Durst, former President and CIO at Brush Street Investments; Joseph Kusnan, Managing Member, Kusnan LLC; and Quan Mac, Co-Founder & Co-CEO/CIO of Bostwick Investment Consulting. This seasoned team works closely with PAS as it expands its family capital network and executes its investment strategy.

Kirkland & Ellis LLP served as legal counsel for Pritzker PAS Fund I.

About Pritzker Alternative Strategies
Pritzker Alternative Strategies LP is the Anthony Pritzker family-backed provider of family capital to select U.S. and European lower and middle-market private equity funds, with a focus on emerging managers. PAS seeks to invest in high-quality private equity funds pursuing growth and value investment strategies and their related investment opportunities diversified across the services, technology, value-oriented and healthcare sectors. Building on the Pritzker family legacy and with an experienced team of private markets investors and Senior Advisors, PAS strives to be a value-added partner to both fund managers and family investors. Executing a differentiated strategy built on transparency and collaboration, PAS delivers family capital to the private equity market with experience, discipline and certainty.