Pritzker Group Private Capital has begun seeking commitments for a $1.5 billion private equity fund, according to The Wall Street Journal. Led by a combined $750 million commitment from brothers and firm co-founders J.B. Pritzker and Tony Pritzker, the vehicle will also reportedly tap into the family's informal network of high-net-worth individuals for the remaining capital.
The Pritzker Group's PE arm targets North American companies in the manufacturing, services and healthcare sectors with enterprise values of between $100 million and $750 million. J.B. Pritzker (pictured) reportedly no longer has any direct involvement in operations after leaving his post as managing partner earlier this year to run for Illinois governor as a Democrat; Tony Pritzker still leads the firm alongside managing partner Paul Carbone. Led by their stake in Hyatt Hotels, the Pritzker family, which has 11 billionaire members, is worth a combined $29 billion, per the latest Forbes estimate.
The Chicago-based firm, which also has VC and asset management arms, has been fairly quiet in recent years, with just 26 PE investments since the beginning of 2010, per the PitchBook Platform. But the deal count has picked up the pace as of late,
with six transactions in 2017 tying 2015's previous high. And the firm is not without its exits. Last week, Pritzker agreed to unload Clinical Innovations, a provider of medical equipment used during labor and delivery, to Swedish buyout shop EQT for roughly $250 million, according to the WSJ.
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