1789 Capital, the investment firm in which Donald Trump Jr. is a partner, is teaming up with Frisbie Group on a $1 billion fund for South Florida real estate.
The partnership has been in talks with investors in recent weeks and is believed to already have nearly $1 billion lined up, Bloomberg reported. The fund’s strategy focuses on developments in Palm Beach and Boca Raton, where Frisbie Group already has projects. A representative for the partners declined to comment.
1789 is based in Palm Beach and helmed by co-founders Omeed Malik and Chris Buskirk. Malik is a former Bank of America managing director and the founder and CEO of Farvahar Partners, a boutique investment bank. Buskirk founded his namesake Buskirk Capital and co-founded the Rockbridge Network with Vice President J.D. Vance.
They launched 1789 in 2023 with an investment strategy that has been described as “anti-woke.” So far, its investments include the prediction market platform Polymarket, firearms ecommerce site GrabAGun, Tucker Carlson’s media firm Last Country, the newsletter platform Substack, and the Enhanced Games, a multi-sport event that allows for performance-enhancing drugs, according to published reports.
Trump announced in November at a Rockbridge event that he was joining 1789, rather than taking a position in his father’s second administration, according to published reports.
In April, Federal Housing Finance Agency Director Bill Pulte tapped Malik to join the board of Fannie Mae, HousingWire reported.
Frisbie is a family firm headquartered in Palm Beach, led by Rob Frisbie Jr. and Cody Crowell. They are partnering with David Martin’s Terra on a 400-unit apartment complex planned for the Palm Beach Kennel Club site at 1111 North Congress Avenue near West Palm Beach. They have also teamed up with Terra on a massive mixed-use project in Boca Raton, consisting of 350,000 square feet of offices, 152,000 square feet of retail and restaurant space, 912 residential units, and 150 hotel rooms. The project, which includes a new campus for Boca Raton’s local government, has proven contentious, and opponents have sought a referendum in a bid to quash it.
Frisbie also has ties to one of Palm Beach’s many luxury condo projects. In 2023, the firm and its partner, Hines, sold the site of the planned luxury condo project South Flagler House to Steve Ross for $194.6 million. Suzanne Frisbie, a member of the family, founder of the firm and agent with the Corcoran Group, is leading sales for the project. –– Kate Hinsche