Chicago-based Pritzker Private Capital has closed its fourth fund PPC IV with $3.4bn in capital commitments from mix of institutional investors across North America, Europe, Asia, and Latin America, surpassing its $3bn target, according to a report by Bloomberg.
The fund has already completed three investments – HeartLand (commercial landscaping, Illinois), Americhem (chemical manufacturing, Ohio), and Buckman (chemical water treatment, Tennessee).
PPC IV’s size exceeds the $2.7bn raised by the firm’s previous fund in 2021 and adds to a string of capital raises by Chicago-based investors, including Shore Capital Partners, Mesirow Financial, and Madison Dearborn Partners.
PPC focuses on middle-market companies in manufacturing products and services, deploying capital in companies with strong founder, family, or management ownership. The latest fund has invested in
Kirkland & Ellis acted as legal counsel, with William Blair and GrovePeak serving as placement agents.
