San Francisco–based Rubicon Point Partners has completed a final close of its inaugural commingled fund, Rubicon First Ascent.
The fund raised $232 million and will have the ability to acquire up to $770 million of assets. The diverse institutional investor base consisted of university endowments, foundations, family offices and pension funds.
Rubicon First Ascent will invest in value-add creative office assets in urban locations throughout the San Francisco Bay Area and Pacific Northwest. To date, the fund has allocated 35 percent of its capital to new investments, including two projects in the Bay Area and one in Washington’s Puget Sound submarket.
“With the office asset class finding itself at an inflection point, Rubicon sees an opportunity for the type of creative investment management expertise at which we excel: creating a competitive advantage in reimagining the office for a broad spectrum of clients,” said Ani Vartanian, co-managing partner at
