Inside these posts: Pritzker family

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Chicago startup EduLender raises $1M

Chicago-based startup EduLender, a comparison shopping website for student loans, said Tuesday it has raised $1 million in seed funding.

The group of investors includes Hyde Park Angels, an early-stage investment group with its roots in the University of Chicago’s Booth School of Business, as well as other local groups such as Sandbox Ventures and New World Ventures, whose founder is J.B. Pritzker. Kapor Capital, which is based in San Francisco, Calif., is also an investor. Other participants in the funding round include Excelerate, a Chicago-based incubator, and Sam Yagan, a co-founder of Excelerate who also helped found dating site OKCupid. Get the full story »

Pritzkers selling Triton Container for $1B

Triton Container International Ltd., which is owned by the wealthy Pritzker family, is expected to disclose as early as Thursday its sale to private-equity firms Warburg Pincus LLC and Vestar Capital Partners for about $1 billion, people familiar with the matter said.

Talks are ongoing and details are still being finalized, these people added. Including debt and cash, a sale would value Triton at about $3.5 billion, people familiar with the matter said. Get the full story »

Pritzkers prepare sale of shipping-container unit

One of America’s wealthiest clans, the Pritzker family, is continuing to shed assets with the expected sale of Triton Container International Ltd. to private equity firms Warburg Pincus and Vestar Capital, people familiar with the matter said.

The buyout shops are close to a deal to acquire the shipping-container leasing company owned by Chicago’s Pritzker family for about $1 billion, these people said.

The Pritzkers, which took the Hyatt Hotels Corp. hotel chain public in 2009, are among the wealthiest U.S. families, controlling a business empire founded by Nicholas J. Pritzker more than a century ago. Get the full story »

Report: Pritzkers’ Hyatt Center sold for $625M

From Bloomberg | A source with knowledge of the transaction says the Pritzker family has sold Hyatt Center, a 48-story office tower in downtown Chicago, to closely held Irvine Co for $625 million.

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Pritzker’s Triton rumored to be up for sale

Triton Container International Ltd., owned by Chicago’s Pritzker family, is up for sale, the latest attempt at selling the container leasing company that could be worth about $1 billion, several sources familiar with the matter said on Friday.

The auction is the latest in a series of asset sales by the Pritzkers, one of the wealthiest U.S. families. They have been selling assets after a 2001 settlement agreement, in which 11 heirs set a plan to break up the family fortune. Get the full story »

Hyatt workers prepare for Friday strike

Hyatt workers in Chicago are preparing to go on strike on Friday over unsuccessful contract negotiations.

The work stoppage, which is planned for an undisclosed Hyatt hotel in the Chicago area, will be the first strike of its magnitude since contracts for 6,000 hotel workers in Chicago expired in August 2009. Unionized hotel workers have staged other protests during the protracted contract negotiations, including brief walkouts at the Sheraton Chicago Hotel and Towers and the Hyatt Regency in downtown Chicago. Unite Here, the union representing hospitality workers, has focused on Chicago-based Hyatt Hotels Corp. and the Pritzker family, which controls the chain. Get the full story »

Jewish leaders pledge support for Hyatt boycott

With support from hundreds of Jewish leaders, Chicago Hyatt workers are calling for a boycott of “one or more” Hyatt hotels in the Chicago area, according to Unite Here, the hotel workers’ union.

The properties will join seven other boycotts announced by the union at Hyatt properties. The union would not say which hotels are planned for the boycott, which is scheduled to be announced Tuesday afternoon in front of Hyatt Global Headquarters. Get the full story »

Unite Here to screen film about Union Tank Car

Unite Here, the hotel workers union, is planning a public screening Wednesday of “Show Us the Tax Breaks” – a short film that attacks Chicago’s Pritzker family and their decision to close East Chicago’s Union Tank Car plant in 2008. The plant was one of the largest employers in East Chicago and when it closed, hundreds of workers were left unemployed.

The film argues that through their company — the Marmon Group, which owned Union Tank Car — the Pritzkers benefited from economic incentives and tax breaks in their decision to relocate the plant to Louisiana. At the time, the Marmon Group said that market conditions had forced the company to reduce overall production and that the aging facility in East Chicago was less efficient. Get the full story »

Pritzkers invest in East Coast apartment buildings

Pritzker Realty Group, the Chicago-based real estate firm affiliated with the wealthy Pritzker family, formed a joint venture with the Bozzuto Group to invest in apartment buildings on the East Coast.

The venture, which has an initial capital commitment of $75 million, will focus on properties in the greater Baltimore-Washington area, as well as in the broader Mid-Atlantic and Northeast region.

“This partnership allows us to tap into Bozzuto’s market expertise to invest in multifamily developments,” said Penny Pritzker, CEO of the namesake company and one of the key business leaders in the Pritzker family empire. Get the full story »

Pritzkers invest in local software provider Firm58

By Becky Yerak
Firm58, a Chicago-based software provider to the financial services
industry, has raised another $7 million in funds from a group led by
existing investors, including the Pritzker family’s early-stage venture
capital arm.

The latest funding round follows two record-setting quarters for Firm58, and brings its total funding to $19.2 million.

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