Madison Realty Capital Receives Strategic Minority Investment from ICONIQ

Expanded Partnership with ICONIQ Will Help Accelerate Firm’s Continued Growth

NEW YORK, June 01, 2022 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced that ICONIQ Investment Management (“ICONIQ”) has made a strategic minority investment in the firm that will advance its long-term growth and success. Terms of the investment were not disclosed.

Madison Realty Capital will leverage ICONIQ’s financial and strategic support to grow its global network of institutional relationships, expand upon its products and augment its team with top talent, while continuing to execute on its core competencies within private real estate debt and equity investing. Madison Realty Capital’s investment process, management, and day-to-day operations will remain unchanged.

Josh Zegen and Brian Shatz, Managing Principals and Co-Founders of Madison Realty Capital, said “We are pleased to establish this strategic partnership, and further our existing relationship with ICONIQ. This investment is a testament to the trust that we foster with our partners and investors. ICONIQ’s investing expertise and network are complementary to our own, and we look forward to expanding our footprint across the U.S., developing new relationships with top-tier borrowers, lenders, and developers, and accelerating the growth of our business to the benefit of our global, institutional investor base.”

Sam Kurtzman, Portfolio Manager at ICONIQ, stated, “Madison Realty Capital has developed an accomplished institutional platform with nearly two decades of experience investing across market cycles. The firm is one of the most active private real estate lenders in the U.S. and we believe continues to differentiate itself as a lender of choice for borrowers seeking flexible financing solutions with certainty of execution.”

Nugi Jakobishvili, Chief Investment Officer at ICONIQ, added, “The firm’s principals – Brian Shatz, Josh Zegen, and Adam Tantleff – have cultivated a strong culture and highly experienced team, and we look forward to working together to expand an already successful relationship to further the growth of Madison Realty Capital’s platform for years to come.”

ICONIQ’s investment follows a record year for Madison Realty Capital, which last year completed $6.4 billion in transaction volume across 72 deals and raised $2.08 billion for Madison Realty Capital Debt Fund V LP, the firm’s largest debt fund to date.


About Madison Realty Capital

Madison Realty Capital is a vertically integrated real estate private equity firm that, as of March 31, 2022, manages approximately $8.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $20 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170