Pritzker Taps Family Office Veteran Kusnan to Bolster PE Strategy

CHICAGO, IL – January 27, 2026 – Pritzker Alternative Strategies (PAS), the family capital investment firm backed by Anthony Pritzker, has appointed Joseph Kusnan as a senior advisor, a strategic move that underscores the growing importance of specialized expertise in the private equity landscape. Kusnan, a veteran with over 25 years of experience navigating the exclusive world of family office investing, joins the firm to help guide its portfolio strategy and deepen its relationships within the close-knit family capital community.

The appointment signals a deliberate effort by PAS to enhance its capabilities as it deploys the Pritzker family's formidable capital base into the lower and middle private equity markets. Kusnan’s extensive background is expected to provide a significant advantage in a sector where relationships and niche knowledge are paramount.

A Strategic Hire for Specialized Access

In the world of high finance, the role of a senior advisor is far more than honorary. These seasoned experts act as strategic counselors, network amplifiers, and deal-sourcing conduits. Kusnan’s appointment is a textbook example of a firm acquiring not just talent, but a deep well of industry intelligence and an invaluable network built over decades.

Most recently, Kusnan served as General Partner at DMP Private Management, where he steered private investments for the Pegula family, owners of the NFL's Buffalo Bills and the NHL's Buffalo Sabres. His experience managing the portfolio of a prominent family office, which is active in direct transactions from real estate to venture capital, provides him with a unique perspective on the objectives and operational dynamics of such entities. This firsthand knowledge is precisely what firms like PAS seek to integrate into their own strategies.

“I have long respected Joe’s investing acumen and ability to build lasting relationships across the family office world. I am delighted to welcome him as a senior advisor to PAS,” said Paul Carbone, Co-Founder and President of PAS, in a statement. “His insights and expertise will be valuable assets to our team as we continue to grow our business and thoughtfully deploy family capital into the private equity market with discipline and a long-term perspective.”

Kusnan joins an established team of senior advisors at PAS, including Michael J. Batal, III, Phillip J. Durst, and Quan Mac, each with their own distinguished careers guiding prominent family investment groups. This assembly of expertise highlights a core part of PAS's strategy: to blend its institutional-quality process with the nuanced, relationship-driven approach that defines the family office ecosystem.

The Evolution of a Pritzker Investment Legacy

Formally launched in April 2025, Pritzker Alternative Strategies represents the latest evolution in the Pritzker family's storied 70-year investment history. The Chicago-based dynasty, renowned for building empires like Hyatt Hotels and the Marmon Group, has long been a powerful force in American business. PAS is a distinct entity, separate from the family's direct buyout arm, Pritzker Private Capital (PPC), and is specifically designed to act as a passive investor.

PAS’s mission is to allocate Anthony Pritzker’s family capital into high-quality U.S. and European private equity funds, focusing on the lower and middle markets. The firm targets limited partner (LP) commitments of $10-25 million per fund, diversifying across services, technology, and healthcare sectors. It also pursues what it calls “Alpha Products”—opportunistic investments such as equity co-investments and continuation vehicles—with smaller commitments of $3-7 million.

This strategy allows PAS to leverage the inherent advantages of family capital, which is often described as permanent, flexible, and unburdened by the fixed timelines of traditional institutional funds. By positioning itself as a disciplined and knowledgeable family capital partner, PAS aims to gain access to top-tier and emerging fund managers where manager selection is critical to generating outsized returns.

The Ascendancy of Family Capital in Private Markets

Kusnan's appointment is not just a story about one firm; it reflects a powerful, market-shaping trend. Family offices have transformed from quiet custodians of dynastic wealth into sophisticated and influential players in private markets. Their preference for direct investing and co-investing, coupled with their long-term perspective, has made them highly sought-after partners for private equity General Partners (GPs).

Unlike institutional investors who may be subject to quarterly performance pressures or rigid mandates, family offices can be more patient and creative in their partnerships. This flexibility is particularly valuable in the lower and middle markets, where PAS operates. In this segment, GPs often seek partners who can provide not just capital, but also strategic value and a shared entrepreneurial spirit.

Firms that understand the unique culture, values, and objectives of family offices are better positioned to build the trust necessary for long-term collaboration. By bringing in a veteran like Kusnan, PAS is reinforcing its commitment to being a preferred partner for both the family offices it collaborates with and the fund managers it backs.

A Career Forged in Elite Financial Circles

Joseph Kusnan’s career path traces a journey through some of the most influential names in wealth management and alternative investments. Before his tenure with the Pegula family, he was a partner at Highbridge Capital Management, where he led event-driven portfolios and co-founded an investment partnership backed by the firm. It was during his time at Highbridge that he briefly crossed paths with the disgraced financier Jeffrey Epstein, a connection that surfaced in public records, though Kusnan has stated he met Epstein only once.

His career also includes time at Michael Dell's family office, MSD Capital, and the investment bank Lazard. This diverse background, spanning hedge funds, investment banking, and direct family office management, has equipped him with a holistic understanding of the private capital ecosystem. His journey reflects the increasing professionalization of the family office space and the high premium placed on individuals who can navigate its complex social and financial currents.

This deep and varied experience is the currency Kusnan brings to Pritzker Alternative Strategies. His appointment is a clear indicator that in today's competitive private equity environment, success is defined not only by the capital one commands, but by the wisdom, experience, and relationships of the people who guide its deployment.