Pritzker Alternative Strategies Launches Differentiated Family Capital Investment Firm for Passive Private Equity Investing
Principal Jack Farr Joins from Pantheon and COO Shanna Otto Joins from Promus, Complementing Senior Team Led by Private Markets Investing Veteran Paul Carbone
CHICAGO – April 23, 2025 – Pritzker Alternative Strategies LP (“PAS” or “the Firm”), today announced it has formed a dedicated family capital investment firm for passive investing in high-quality private equity funds. Chaired by Tony Pritzker, PAS allocates Pritzker family capital to often harder to access lower and middle-market private equity funds focused on growth and value investment strategies across the United States and Europe. Guided by the Pritzker family legacy of building businesses, PAS brings an extensive network of family and private equity relationships as well as a demonstrated track record of private markets investing.
PAS is led by Paul Carbone, who helped build Pritzker Private Capital’s (“PPC”) direct investing franchise over more than a decade as managing partner before announcing a planned leadership transition in 2022. PAS is a separate entity from PPC and will operate independently. Generally, PAS will seek to avoid commitments in funds it believes have the potential to directly and materially compete with PPC’s platform company investing. Trusts for the benefit of Tony Pritzker and his family have committed to make a substantial investment with PAS. Tony Pritzker is not involved in PAS’ day-to-day operations but does serve as Chairman of the Board in a non-investment capacity.
“PAS is more than just another investment firm,” said Paul Carbone, Co-Founder and President of PAS, and Chair of the Firm’s Investment Committee. “We believe that family capital has many inherent advantages. Private equity has historically strong performance as an asset class and that passive investing in high-quality private equity funds can represent an attractive investment strategy. At PAS, we will look to collaborate with other family investors as we deliver family capital to the private equity market with experience, discipline and certainty.”
Through its committed investing platform, PAS expects to target limited partner commitments of $10-25 million per underlying fund and $3-7 million per Alpha Product, diversified across the services, technology, value-oriented and healthcare sectors. Alpha Products that PAS expects to invest in may include equity co-investments, continuation vehicles, secondary LP interests and other specialized opportunities.
Continued Mr. Carbone: “The private equity market is crowded and complex, and we believe that fund manager selection and partnership are critical to achieving attractive returns. Using our diligent evaluation process, deep market relationships and disciplined portfolio construction, PAS aims to build a diversified portfolio of high-quality funds, particularly in harder to access lower middle-market managers.”
In addition to the substantial experience of co-founders Tony Pritzker and Paul Carbone, PAS has built an experienced and culturally-aligned team to execute its differentiated strategy.
- Shanna Otto has joined as Chief Operating Officer, Chief Compliance Officer and Partner. She leads all internal operations alongside the PAS operations and investment team. Ms. Otto joined PAS from Promus, a private investment firm focused on both fund and direct investments, where she most recently was CFO.
- Jack Farr has joined as Principal – Investments. He is responsible for executing and overseeing fund and Alpha Product investments. He joined from Pantheon, where he was a senior member of the Firm’s U.S. investment team.
- Other PAS team members include Jacob Thilman, Senior Associate – Investments, previously at Adams Street Partners; Ruben Torres, Senior Associate – Investments, previously at Northwestern University endowment and GCM Grosvenor; Jessica Hackett, Senior Associate – Finance & Operations, previously at Adams Street Partners; and Angela Baroni, Private Markets Coordinator, with experience at PPC and GTCR.
In executing its strategy, PAS already has made several fund commitments.
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 focused on growth and value investment strategies. PAS seeks to invest in high-quality private equity funds and their related investment opportunities diversified across the services, technology, value-oriented and healthcare sectors. Building on the Pritzker family legacy and an experienced team of private markets investors, PAS is a differentiated private equity partner delivering family capital to the market with experience, discipline and certainty.