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Resources created and curated to support the growth of impact investing, for those new to the field and for experienced practitioners.

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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

Enterprise Community Partners

Total Assets Under Management: >$250MM
Asset Class: Private Debt - Absolute Return / Notes, Real Estate, Private Equity
Primary UN Sustainable Development Goal: 11 – Sustainable Cities & Communities
Nutrition, Health and Wellness
Affordable Housing and Community Development
Education and Charter Schools

Firm Overview

Category: Private Debt - CDFIs

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 $36.9 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: More than 10 years
Total Assets Under Management:
>$250MM
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 informed by our deep knowledge of the communities where we work. Investment transparency is elevated through data collection and measurement. Investors can truly make an impact, seeding new ideas that can scale to broad-based solutions thanks to our policy platform.

Investment Overview:

Investors are seeding new pilot programs, innovative models, and theories of change. 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 of local staff 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 support these models and can create systemic change. 

Company Differentiator:

Enterprise Community Partners is a national social enterprise that has been working over the past 35 years with three distinct levers – Capital, Program and Policy. We support innovative solutions needed to address challenging social issues with local programs and investment capital, and scale effective solutions when possible through policy advocacy.  In addition, we rigorously track the outcomes of the projects we finance and use that data to inform our investment strategy. Our Knowledge teams create reports that combine quantified metrics with academic research, and the stories of the people who benefit from our work paint a more complete picture of impact. Enterprise works with local leaders and governments to develop new ways to tackle big problems. Investors help finance innovative pilot projects that test these solutions. Enterprise measures the outcomes to refine our model. That enables us to develop and share best practices, advocate for enlightened policies and programs, and maximize the impact of investments.

Investment Example

We are committed to preserving housing that is affordable for families and building paths to opportunity in neighborhoods across the country through strategic investments in housing, health care, education and other community facilities or businesses. In addition to providing debt solutions through our community development financial institution subsidiary and tax credit equity financing support in the form of Low Income Housing Tax Credit, New Market Tax Credit and Historic Tax Credit, we offer conventional private equity financing in support of preservation of affordable housing. For example, in Everett, Washington, we provided multiple tiers of debt and equity capital totaling $25 million to transform a market rate apartment community at risk of being sold to a buyer who would dramatically increase rents, into an affordable housing community for a minimum of 40-years, all while delivering market rates of financial return to our various tiers of investor partners. The project also resulted in the transformation of an aging apartment community in disrepair being substantially renovated to a high level of quality with additional amenities, such as a new community center and playground for the benefit of its residents.  

Leadership and Team

Cumulative Leadership Experience in Investing:
More than 30 years
Cumulative Impact Experience of Top Three Firm Leaders:
More than 30 years
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% – 50%
Percentage of Board Members who are Women and/or Under-Represented Groups in Firm's Geographic Focus:
25% – 50%

Financial Performance

Target Financial Returns Relative to Benchmark:
Market Rates
Actual Performance Relative to Target Financial Returns in the Past Three Years:
In line with initial target returns
Financial Reporting Frequency to Investors or Donors
Quarterly

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
Alleviating poverty
Increasing access to education and improving educational outcomes
Increasing access to healthcare services and improving health
Providing housing
Secondary Impact Outcomes:
Addressing climate change and environmental issues
Creating jobs
Promoting arts and media
Value-added Services Offered:
Access to markets
Health services
Education services

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:

Investing for impact is embedded in our firm's mission and DNA. Our staff and network of partners work throughout the nation to provide supplementary services and programming that enhance our investments. For example, we believe that opportunity begins with a home that is safe and affordable, and grows with access to transit, jobs, high-quality schools, and healthcare. As we invest to build strong, diverse communities, we also have teams working in the field to create and integrate best practices for equitable transit-oriented development, green building, health and housing, resiliency, design, and so much more. We also have teams dedicated to building the capacity of our partners – mostly small and local businesses – to improve their ability and efficacy in addressing issues in communities they serve. Similarly, we provide technical assistance to public sector partners, helping them identify capacity gaps and strategic opportunities so that funding is deployed effectively and programs are operating optimally.

Investments systematically include social and environmental sustainability practices in the due diligence process:

As part of our investment due diligence process, we collect information on the sponsoring organization, and the community in which we are investing, as well as data on the intended impact of the asset we are investing in. We request information on the sustainable construction practices used for the asset we invest in to understand the potential economic and environmental benefits. We encourage the use of our Green Communities Criteria and other green building standards. If an asset we invest in receives Green Communities Certification, it allows us to collect or project multiple data points on environmental impact, cost savings, and potential health benefits for residents. Our Equitable Transit-Oriented Development funds (Seattle REDI Fund, Denver Regional TOD Fund) increase access to public transit, reduce greenhouse gas emissions, and create "green" jobs. Similarly, the solar and energy efficiency financing we provide is also screened for impact on resource conservation, cost savings, and green jobs created. 

Impact Tracking and Monitoring

Impact is Tracked:
Yes
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes – to the public
Third Party Validations:
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing

Learn More

Key Contact Name: Brian Wolak
Phone: (410) 772-2595
Mailing Address:

11000 Broken Land Parkway, Columbia, MD 21044

Ready for the next step?

Impact investments are investments made into organizations and funds that generate measurable social and environmental impact as well as financial returns.