(Bloomberg) -- The wealth manager to Facebook Inc. founder Mark Zuckerberg and other technology entrepreneurs is starting a unit to invest in data centers to profit from growing demand for cloud-based services.
Iconiq Capital, the San Francisco-based investment adviser run by Divesh Makan, registered a new subsidiary with the U.S. Securities and Exchange Commission last month that will put client funds into technology-related real estate, according to documents filed with the agency. Its holdings will range from direct investments in data centers to securities issued by real estate investment trusts specializing in the sector.
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