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ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers

The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.

https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

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Enterprise Community Partners

Website: https://www.enterprisecommunity.org/

Total Assets Under Management: $100 – 499M

Asset Class: Private Debt - Absolute Return / Notes, Real Estate, Private Equity

Primary UN Sustainable Development Goal: 1 – No Poverty

Nutrition, Health and Wellness

Housing & Community Development

Education and Charter Schools

Firm Overview

Category: Real Estate

As a proven and powerful nonprofit, Enterprise brings together nationwide know-how, partners, policy leadership, and investment to multiply our impact in communities across America. Our mission is to create opportunity by building strong, diverse communities so families can succeed. We’re in this work for the long haul; we’re in it for good.

Our story began 30 years ago, and is rooted in a rich history of investing in real estate assets - homes, schools, health centers, community hubs for artists and entrepreneurs, and more - that have the power to transform neighborhoods. To date, Enterprise has invested $43.6 billion throughout the nation, touching millions of lives.

In 2010, we began offering private investment products that allow retail, accredited, and institutional investors to leverage our expertise, providing new opportunities to make data-informed impact investments that deliver both a social and financial return.

Firm Headquarters: US & Canada
Years of Operation: 10 years or more

Total Assets Under Management:

$100 – 499M

Total Number of Investors: More than 25
% of Capital from Top 3 Investors: Less than 25%

Investment Thesis:

Your capital is on a mission at Enterprise, where investments are shaped by our deep knowledge of the communities where we work, made transparent through our data collection and measurement capacity, and brought to scale through our policy platform at the federal, state and local levels.

Investment Overview:

Enterprise believes that every dollar should be invested in a way that levers exponential impact. Our “Beyond Investing” strategy is enabled by the way we are structured – connecting finance, policy, impact measurement, and local experts under one roof.

Our investments are informed by the work we do on-the-ground alongside local stakeholders and governments. Once investments are made and assets are operational, our Knowledge, Impact & Strategies team rigorously tracks the outcomes. We use the qualitative and quantitative data captured to inform our investment strategy and provide impact insights to our investors. We elevate data gathered from successful investments to share best practices and lessons learned so these models are replicated throughout the nation. Further, our Public Policy team advocates at the federal and local levels for policies and programs that are proven to work.

Company Differentiator:

We are not the only financial intermediary offering financial products to overlooked communities, we are not the only policy shop to represent the voice of LMI residents, we are not the only organization with boots on the ground in communities developing tailored solutions, and we are not the only data team measuring social returns on investments, but we are one of the only organizations doing it all under a single umbrella – across the country. As a result of this suite of capabilities, the impact of your investment is multiplied.

Investment Example

Enterprise invested $4.3 million of joint venture equity in the acquisition of College Glen Apartments in Lacey, WA in early 2018. The total transaction of $20.1 million supported the preservation of 164-affordable and well-located homes in a high cost market. College Glen was in good physical condition at acquisition but was at risk of falling into disrepair due to its age, and/or being converted to higher market rents upon expiration of its restrictions. Our investment bridged the project to a recapitalization event that involved new public subsidies that provided for a full renovation of the property, and extension of the affordability for 40-more years. We have fully realized a market rate of return on this investment.

Leadership and Team

Cumulative Leadership Experience in Investing:

30 years or more

Cumulative Impact Experience of Top Three Firm Leaders:

30 years or more

Lori Chatman – President More Info

Lori Chatman is a senior vice president of Enterprise Community Investment, Inc., and serves as president of the Enterprise Community Loan Fund, Inc. Lori is responsible for setting and implementing the strategy for Enterprise to raise and deploy capital through large-scale national, regional and local debt funds as well as New Markets Tax Credit equity. She also leads Enterprise’s capital innovation practice. Lori joined Enterprise in November 2004 with more than 15 years of community development experience. Prior to her current position, she was the senior vice president and chief credit officer of the Enterprise Community Loan Fund, Enterprise’s U.S. Treasury-certified Community Development Financial Institution (CDFI).

Charlotte Crow – Senior Vice President and Treasurer More Info

Charlotte Crow is the senior vice president of the Enterprise Community Loan Fund, responsible for raising capital, investor relations, cash management and general treasury functions. She brings 25 years of banking, finance and treasury experience to her role. Prior to joining Enterprise in May 2006, Charlotte spent 14 years at Signet Bank in Richmond, Virginia, where she was in charge of the asset and liability management group and served as a member of the Asset and Liability Committee. Toward the end of her tenure with Signet, she reported to the vice chairman and was responsible for enterprise-wide risk management, the development of transfer pricing and shareholder value performance measurement methodologies.

Chris Herrmann – Vice President More Info

As a vice president for Enterprise Community Investment, Inc., Chris Herrmann is responsible for overseeing Enterprise’s conventional equity program. He was named to lead this new effort in 2013. Chris is responsible for raising, structuring and managing equity funds, as well as evaluating and closing investment opportunities. Previously, Chris was a director, where he analyzed, evaluated and bid on affordable housing investment opportunities that leveraged the Low-Income Housing Tax Credit (LIHTC) and the Federal Historic Tax Credit. In this role, he facilitated the successful closing of more than 70 transactions with a total of more than $625 million in LIHTC equity.

Percentage of Investment Professionals who are Women and/or Under-Represented Groups in Firm's Geographic Focus:

25% to less than 50%

Percentage of Management Team who are Women and/or Under-Represented Groups in Firm's Geographic Focus:

25% to less than 50%