LISC is using a portion of its investable assets to reinforce its mission of catalyzing opportunity throughout the country. The strategy includes a new impact investment in SustainVC Impact Fund II, which finances enterprises that advance climate solutions, economic equality, health and education.
National Equity Fund (NEF), LISC’s affiliate and one of the leading syndicators of Low-Income Housing Tax Credits (LIHTC) in the country, has named Matthew Reilein as president and CEO. Reilein, brings a career’s-worth of experience driving capital into low-income communities and most recently served as managing director of Cresset Partners, where he oversaw community development and opportunity zones initiatives. He succeeds Joseph S. Hagen, who is retiring after 19 years at NEF’s helm.
With initial funding from the city, foundations and banks, the new LISC Charlotte office opened its doors last week and announced its first program activity—a $25,000 capacity-building grant for Historic West End Partners, a high-impact local nonprofit. LISC Charlotte expects to invest at least $25 million to promote economic opportunity in the city’s neighborhoods over the next few years.
Dale Royal, a community developer with 30 years’ experience bringing economic development, affordable housing and transportation opportunities to underserved neighborhoods, will be the inaugural executive director of LISC’s newest office in Atlanta, GA. LISC has already invested $18 million in Atlanta for workforce and youth development projects, and our SBA lending affiliate, immito, has just closed its first transformative loan in the city. Royal’s arrival will take that commitment to another level, leveraging his expertise in connecting communities with the capital to help them flourish.
For the fourth consecutive year, LISC’s Lending department has been honored among the ImpactAssets 50, a who’s-who of fund managers dedicated to creating positive social and environmental impact. The team’s outstanding portfolio balance of $420 million and delinquency rate under 2% earned this year’s recognition.