Money manager ICONIQ Capital made a minority investment in real estate manager Madison Realty Capital, said a Madison Realty spokeswoman.
Madison Realty had $8.5 billion in assets under management as of March 31; ICONIQ has $83.5 billion in AUM.
"We are pleased to establish this strategic partnership, and further our existing relationship with ICONIQ," said Josh Zegen and Brian Shatz, both managing principals and co-founders at Madison Realty, in the release.
Madison Realty executives said they plan to use the capital to expand the firm's footprint across the U.S., develop new relationships with borrowers, lenders and developers, and accelerate the firm's growth.
Madison Realty's investment process, management and day-to-day operations will remain unchanged, the news release said.
The spokeswoman declined to disclose the size of the investment and the date the transaction closed.
