Peel and dice the potatoes and carrots.
Clean and slice the leeks.
In a large pot or Dutch oven, brown the Italian sausage and pancetta in olive oil. Remove from pot and set aside.
Add the leeks and carrots to the pot and cook until softened, about 5-7 minutes.
Add the potatoes and chicken broth to the pot. Bring to a boil, then reduce heat and simmer until the potatoes are tender, about 20-25 minutes.
While the soup simmers, caramelize the carrots. Set aside a portion of the carrots and puree until smooth.
Once the potatoes are tender, use an immersion blender (or transfer to a regular blender) to blend the soup until smooth.
Stir in the heavy cream, nutmeg, salt, and pepper. Heat through.
Serve the soup garnished with the caramelized carrot puree and the browned sausage and pancetta.