Key Takeaways
- • 1789 Capital closed its debut Real Estate Development Fund at $1.2 billion in assets under management, with projected total capitalization exceeding $8 billion across targeted projects.
- • The fund targets high-growth Sun Belt markets including Florida, Texas, Tennessee, Georgia, and the Carolinas, focusing on workforce housing, multifamily residential, community development, and digital infrastructure including data centers.
- • 1789 Capital integrated Easton Street (formerly Frisbie Group), a South Florida real estate operator, bringing over 20 personnel into the firm to create a vertically integrated model combining asset management, operations, and construction—designed to eliminate secondary fee layers and target returns upward of 30%.
- • Donald Trump Jr., a partner at 1789 Capital, will serve on the investment committee for the real estate fund, marking the firm's major expansion beyond its core technology, defense, and manufacturing investments.
- • 1789 Capital's total assets under management have grown to more than $3 billion, a substantial increase from several hundred million dollars following Trump Jr.'s arrival after the 2024 election.
Summary
1789 Capital, the investment firm where Donald Trump Jr. serves as a partner, has closed its inaugural Real Estate Development Fund at $1.2 billion in assets under management on August 15, 2026. The fund represents a strategic expansion for the firm beyond its established core focus on technology, defense, and manufacturing investments. With projected total capitalization exceeding $8 billion across its targeted development projects, the fund signals 1789 Capital's significant commitment to the real estate sector amid broader demographic and economic shifts toward the Sun Belt region.
The fund will concentrate its investments in fast-growing Sun Belt markets, specifically Florida, Texas, Tennessee, Georgia, and the Carolinas. Investment priorities span workforce housing, multifamily residential development, community development initiatives, and digital infrastructure including data centers. Housing—particularly multifamily and workforce housing segments—is expected to represent one of the fund's largest areas of focus. This geographic and sectoral concentration reflects 1789 Capital's thesis that long-term demographic migration and economic growth trends favor these high-growth states.
To execute this strategy, 1789 Capital has partnered with Easton Street, a South Florida-based real estate development company formerly known as Frisbie Group. The partnership brings over 20 Easton Street personnel into 1789 Capital through the joint venture structure. This vertical integration—combining investment management, operational oversight, and construction capabilities within a single organization—is designed to eliminate the secondary fee layers that typically result when asset managers outsource development operations to third-party operators. The firm projects it can achieve target returns upward of 30%, leveraging Easton Street's existing pipeline of projects developed over years of prior activity.
Trump Jr. will serve on the investment committee for the real estate fund, a meaningful role in fund governance and capital allocation decisions. The firm's overall assets under management have grown substantially to more than $3 billion, reflecting significant capital raises since Trump Jr.'s involvement following the 2024 election. This represents an increase from several hundred million dollars in prior periods, underscoring strong institutional and capital partner demand for the firm's investment strategies and track record expansion into real estate development.
The fund will concentrate its investments in fast-growing Sun Belt markets, specifically Florida, Texas, Tennessee, Georgia, and the Carolinas. Investment priorities span workforce housing, multifamily residential development, community development initiatives, and digital infrastructure including data centers. Housing—particularly multifamily and workforce housing segments—is expected to represent one of the fund's largest areas of focus. This geographic and sectoral concentration reflects 1789 Capital's thesis that long-term demographic migration and economic growth trends favor these high-growth states.
To execute this strategy, 1789 Capital has partnered with Easton Street, a South Florida-based real estate development company formerly known as Frisbie Group. The partnership brings over 20 Easton Street personnel into 1789 Capital through the joint venture structure. This vertical integration—combining investment management, operational oversight, and construction capabilities within a single organization—is designed to eliminate the secondary fee layers that typically result when asset managers outsource development operations to third-party operators. The firm projects it can achieve target returns upward of 30%, leveraging Easton Street's existing pipeline of projects developed over years of prior activity.
Trump Jr. will serve on the investment committee for the real estate fund, a meaningful role in fund governance and capital allocation decisions. The firm's overall assets under management have grown substantially to more than $3 billion, reflecting significant capital raises since Trump Jr.'s involvement following the 2024 election. This represents an increase from several hundred million dollars in prior periods, underscoring strong institutional and capital partner demand for the firm's investment strategies and track record expansion into real estate development.
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