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City Ventures
City Ventures was founded in 2003 by the Utterback family. John Utterback, President and CEO, has built a 130-person team spanning 13 offices across the...
City Ventures
City Ventures was founded in 2003 by the Utterback family. John Utterback, President and CEO, has built a 130-person team spanning 13 offices across the U.S. The firm’s wealth origin is tied to family business interests, though specifics remain private. It operates as a single-family office with a multi-asset investment mandate. The firm allocates capital across private equity (control and growth buyouts), real estate (direct and debt), private credit, infrastructure, and venture capital. Public files show co-investments with GPs like The Carlyle Group, KKR, and Apollo Global Management. Portfolio holdings include industrial manufacturing, logistics, and energy infrastructure assets across the Midwest, Southeast, and Western U.S. City Ventures employs over 130 professionals across Rosemont, Santa Ana, Indianapolis, Chicago, Stamford, Atlanta, and other cities. The team includes dedicated managing directors for private equity, real estate, and credit. June 2024: City Ventures closed a $1.2B co-investment vehicle for infrastructure and energy transition (per SEC filing, June 2024). The firm is structurally unusual for its scale and geographic breadth—akin to a middle-market asset manager, but with a single-family capital base. It does not accept external capital, giving it permanent capital advantages and long-dated investment horizons. Its multi-office, sector-specialist model is rare among family offices.
General information
Firm type
Single Family Office
Year founded
2003
AUM
$5B–$10B (Altss estimate)
Location
Region
North America
Country
United States
City
Rosemont
Corporate office
Rosemont, IL, United States
Additional offices
Santa Ana, CA · Indianapolis, IN · Owings Mills, MD · Chicago, IL · Stamford, CT · Bentonville, AR · Atlanta, GA · Santa Clara, CA · San Francisco, CA · Palo Alto, CA
Principals
John A. Utterback
President & CEO
Mark J. Pretty
Chief Investment Officer
R. Scott Coza
Managing Director, Private Equity
Thomas R. Smith
Managing Director, Real Estate
Sector focus
Frequently asked questions
Who runs investment decisions at City Ventures?
John Utterback serves as President and CEO, while Mark Pretty is Chief Investment Officer. Investment decisions are made by sector-specific managing directors for private equity, real estate, and credit, with Utterback ultimately accountable to the family. The structure is centralized but sector-specialist, with each managing director having deal authority within guidelines.
Is City Ventures structured as a single family office or does it operate more like a firm?
City Ventures is a single-family office, but its organizational structure is closer to a mid-market asset manager. It has 130 professionals, 13 offices, and distinct investment teams for private equity, real estate, credit, infrastructure, and venture capital. Unlike many family offices, it does not accept external capital, giving it permanent capital flexibility.
What investment stages does City Ventures typically target?
The firm invests across the capital structure: control and growth buyouts in private equity, direct real estate and real estate debt, private credit (direct lending and mezzanine), infrastructure projects (energy, transportation, utilities), and venture capital (late-stage growth equity). Public filings indicate co-investments alongside established GPs such as The Carlyle Group, KKR, and Apollo Global Management (per SEC filings).
Which sectors does City Ventures explicitly avoid?
City Ventures has no public negative screens, but its visible portfolio is concentrated in industrial manufacturing, logistics, energy infrastructure, and real estate. It has not publicly participated in biotech, pharma, or software venture capital, suggesting a preference for tangible asset-intensive sectors. Official strategy statements focus on 'essential infrastructure' and 'operator-led' businesses.
Does City Ventures participate in fund commitments or only direct deals?
City Ventures primarily invests through direct co-investments and separate accounts alongside selected GPs, rather than standard commingled fund commitments. Its $1.2B infrastructure co-investment vehicle (filed June 2024) indicates a preference for bespoke vehicles. It does not act as a fund-of-funds for external LPs.
Where does the underlying wealth come from?
The Utterback family, which controls City Ventures, generated its wealth through private business interests—specifically in industrial manufacturing and real estate—dating to before the firm's founding in 2003. Specific details of the family's prior enterprise remain private. The office does not disclose wealth origin on its official materials.
How does City Ventures source proprietary deal flow?
The firm sources deals through its network of managing directors in 13 offices, direct relationships with middle-market operators, and co-investment partnerships with large GPs like The Carlyle Group, KKR, and Apollo Global Management. Its geographic coverage across the U.S. gives it access to local deal flow in the Midwest, South, and West Coast, though it does not maintain a public digital presence for proprietary sourcing.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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