Pritzker PAS Fund will target lower- to middle-market funds and may invest in continuation vehicles and secondary LP interests.
The London-based startup aims to address private credit's fund-level liquidity, which remains constrained by available cash and redemption terms.
The partnership will also develop products for wealth investors, beginning with an evergreen private equity secondaries fund expected in the coming weeks.
The vehicle will invest across private equity, alternative & direct credit, and hedged strategies, including primary and secondary private fund interests.
Managed by Fundcraft France and initially distributed exclusively by Rhétorès Finance, the vehicle will combine primary and secondary investments, with monthly subscriptions and quarterly redemptions.
The firm has appointed Loïc Beaumont as Head of Private Equity to lead the initiative that targets LP-led secondary positions in European buyout funds.
The €120 million vehicle is backed by anchor investor CommonWealth Investments, alongside Blue Earth Capital and Swisscanto.
The vehicle is targeting interval fund deals, while also reviewing feeder fund portfolios, a source told SecondaryLink.
The Sydney-based manager has launched its inaugural fund, targeting investments across five AI growth vectors.
The firm, which spun out of Alumni Ventures, has already closed an oversubscribed debut fund, with a follow-up vehicle in the pipeline.
