Sources say Iconiq Capital, a $7B asset management firm linked to many Silicon Valley elites, plans to refocus on tech investments, including buyouts
Wall Street Journal : Tweets: @jasonlk , @cezary , @shitfund , @chriswitkowsky , @preetatweets , and @ddayen Tweets: Jason M. Lemkin / @jasonlk : Translation: some of the ultra-smartest late stage investors think valuations are insane http://twitter.com/... Cezary Podkul / @cezary : Zuckerberg's wealth manager wants to be a buyout shop, raising possible conflicts with some of its clients https://www.wsj.com/... @shitfund : Iconiq managed $7 billion and advised on $14.5 billion at the end of 2016. At times it has suggested greater reach, saying in a 2016 info session flier for a Stanford University student group that it had more than $100 billion in “assets under advisement” https://www.wsj.com/... Chris Witkowsky / @chriswitkowsky : Iconiq Capital, family office that manages $$ for tech billionaires, including Mark Zuckerberg, hires Thoma Bravo exec to start a tech buyout strategy: https://www.wsj.com/... #privateequity Anupreeta Das / @preetatweets : Iconiq, which once called itself Mark Zuckerberg's “family office,” has $100 billion in “assets under supervision.” Its AUM is $21 billion, but its discretionary AUM is only $7 billion. https://www.wsj.com/... via @WSJ David Dayen / @ddayen : Take the windfall profits from Silicon Valley, apply the asset-stripping techniques of private equity, and viola! Instant cruelty! https://www.wsj.com/...