Chicago Based Pritzker Alternative Strategies Raises Record Funding to Provide Families Access to Emerging Private Equity Managers and Alpha Products

Pritzker Alternative Strategies, LP, a Chicago-based family capital investment firm, has successfully closed its inaugural fund, Pritzker PAS Fund LP, raising nearly $385 million.

The fund aims to provide family investors with access to exclusive private equity opportunities and specialized investment products that are often difficult to reach.

Strong Family Anchors and Select Investor Participation

The fund’s initial commitments are anchored by trusts for the benefit of Tony Pritzker and his family, underscoring a strong internal foundation.

Additional backing comes from a select group of U.S. family investors who are aligned with the firm’s long-term strategy of building diversified, high-quality portfolios.

Targeting Emerging Managers and Specialized Opportunities

PAS focuses on providing family investors with exposure to emerging managers in the lower and middle-market private equity space.

These opportunities often include Alpha Products such as equity co-investments, continuation vehicles, secondary LP interests, and other specialized structures.

The strategy is designed to give families access to high-potential investments that are traditionally more difficult to reach.

Diverse Portfolio Approach Across Key Sectors

The firm has already made a significant number of fund commitments as part of its strategic rollout.

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Individual limited partner commitments range from $10–25 million per underlying fund and $3–10 million per Alpha Product.

Investments are diversified across services, technology, value-oriented strategies, and healthcare sectors to provide broad exposure and mitigate concentration risks.

Experienced Leadership and Advisory Team

Pritzker PAS is led by private markets veteran Paul Carbone.

Supporting him are Chief Operating Officer Shanna Otto, formerly of Promus, and Principal – Investments Jack Farr, who previously served on Pantheon’s U.S. investment team.

The fund’s senior advisory board includes Michael J. Batal III, Phillip J. Durst, Joseph Kusnan, and Quan Mac, bringing decades of industry expertise and strategic guidance.

Impact and Consequences

The successful closure of PAS I marks a major milestone for Pritzker Alternative Strategies, positioning the firm as a credible player in the family office private equity space.

By offering access to emerging managers and specialized Alpha Products, the fund can potentially generate strong returns while broadening the investment toolkit for family investors.

What’s Next?

With the fund closed, PAS will continue deploying capital according to its diversified strategy, targeting high-quality private equity funds and Alpha Products.

The firm aims to strengthen its platform and build relationships with additional emerging managers, further expanding opportunities for family office investors.

Summary

Pritzker Alternative Strategies’ inaugural fund has exceeded expectations by raising nearly $385 million.

Anchored by the Pritzker family and supported by select U.S. families, PAS I focuses on private equity, emerging managers, and specialized investment products across diverse sectors.

With an experienced leadership and advisory team, the firm is poised for strategic growth in the family office investment space.

Bulleted Takeaways

• Pritzker Alternative Strategies, LP, a Chicago-based family investment firm, closed its first fund, PAS Fund LP, at nearly $385 million.
• The fund is anchored by trusts for the benefit of Tony Pritzker and his family, with additional U.S. family investors participating.
• PAS targets emerging private equity managers in the lower and middle markets.
• Alpha Products include equity co-investments, continuation vehicles, secondary LP interests, and other specialized structures.
• Fund commitments typically range $10–25 million per underlying fund and $3–10 million per Alpha Product.
• Investments are diversified across services, technology, value-oriented strategies, and healthcare sectors.
• Led by Paul Carbone, with COO Shanna Otto and Principal Jack Farr, supported by a strong senior advisory board.
• The fund provides family investors with access to high-quality private equity opportunities traditionally difficult to access.
• PAS has already begun executing its investment strategy with multiple fund commitments.
• The firm aims to expand its committed investing platform and deepen relationships with emerging managers.
• Successful closure positions PAS as a growing player in the family office private equity space.