While Iconiq primarily helps clients allocate their money to outside hedge and private equity funds, the firm also runs its own proprietary investment vehicles. On Aug. 8, it completed the registration process for Iconiq DC Management, the subsidiary setting up private funds to make real estate investments in data centers or “technology connectivity-related assets,” according to the SEC filing.
The new money manager is organizing its first fund, the filing shows. Once it has raised capital, the funds will make direct investments in property, sponsor or invest in REITs, provide mortgage financing and form joint ventures with other investors.
“Given Iconiq Capital’s broad relationships with some of the world’s leading technology companies and innovators,” the unit is “able to access proprietary market insights unavailable to most sponsors” of investment funds, Makan’s firm said in the filing.
This article was provided by Bloomberg News.