Host
February 11, 2026
Host
Co-founder & President of Pritzker Alternative Strategies and Co-founder & Vice Chairman of Pritzker Private Capital
Host Todd S. Rich speaks with Paul Carbone, Co-founder & President of Pritzker Alternative Strategies and Co-founder & Vice Chairman of Pritzker Private Capital, to discuss his career in investing, the development of family capital platforms, and the role of flexibility in long-term ownership. Paul discusses his professional journey, perspectives on private markets, succession planning, family office collaboration, and the influence of personal experience on leadership and civic engagement.
Topics:
(00:00:00) – Intro
(00:02:05) – Paul’s personal declaration: family and inspiration
(00:04:37) – Paul’s early life and career beginnings
(00:08:21) – Transition to investment banking
(00:11:49) – From investment banking to principal investing
(00:15:04) – The appeal of family capital
(00:23:08) – Building Pritzker Private Capital
(00:28:37) – Navigating competitive dynamics with long duration capital
(00:30:03) – The misconception of patient capital
(00:31:27) – Balancing family capital in competitive markets
(00:33:31) – Transitioning leadership and succession planning
(00:35:59) – Launching Pritzker Alternative Strategies
(00:37:52) – Investing in managers and funds
(00:40:27) – Opportunities in private equity and alternative markets
(00:44:31) – The role of family offices and networks
(00:51:25) – Civic engagement and philanthropy
(00:55:31) – Closing thoughts and reflections
Kari Firestone reflects on lessons in risk-taking, balancing career and family, and why listening and learning remain central to her “declaration” in life.
Ray discusses building a lasting real estate career grounded in gratitude, and why staying engaged and purposeful matters at every stage of life.
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