CapZone Management

Co-founders Steve Glickman (CEO) and John Lettieri (President) lead the firm's investment strategy. Both were previously at the Economic Innovation Group, where they helped design the Opportunity Zone legislation. The firm operates with a lean senior team and relies on a network of regional operating partners for deal sourcing and asset management.

CapZone exists specifically to invest under the Opportunity Zone provisions of the 2017 Tax Cuts and Jobs Act. Its founders, Glickman and Lettieri, were instrumental in drafting that legislation. The firm raises blind-pool and project-specific funds, deploys capital into Qualified Opportunity Zone properties and businesses, and manages compliance with the holding-period rules that unlock capital-gains tax benefits for investors.

CapZone deploys capital across commercial real estate (multifamily, mixed-use, industrial), operating company equity, and private credit. Each investment must be located in a designated Qualified Opportunity Zone. The firm's fund structure enables investors to access this multi-asset strategy through a single managed vehicle rather than sourcing individual zone-eligible projects.

CapZone is an institutional asset manager, not a family office. It manages pooled investment funds open to external limited partners, including institutions, family offices, and high-net-worth individuals seeking exposure to tax-advantaged community-development investments.

Under current law, the Opportunity Zone designation and associated capital-gains tax benefits begin phasing out in 2026 and expire fully at the end of 2028 unless Congress extends the program. CapZone's investment horizon is therefore bounded by an external policy deadline, a structural characteristic that distinguishes it from perpetual-life funds. The firm has invested on the premise that final-year rules allow for deployment windows and holding periods that extend value creation beyond the sunset date.