Micron Allocates $50 million to Women-Owned Seelaus Asset Management to Support Housing Equality (SHE) Strategy

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Jun 10, 2021, 09:00 ET

CHATHAM, N.J., June 10, 2021 /PRNewswire/ -- Seelaus Asset Management, a women-owned business enterprise, today announced an allocation of $50 million from Boise-based Micron Technology, Inc. (Nasdaq: MU). The allocation with Seelaus' agency Mortgage Backed Security (MBS) impact investment strategy will seek to positively support underserved communities and underrepresented groups by increasing access to home ownership.

The strategy, known as SHE (Support Housing Equality), utilizes U.S. government-backed MBS securities to generate a competitive return while simultaneously addressing the lending gap in these communities by investing in programs specifically designed to provide access to capital.

"We are honored to work with Micron on this important impact investment initiative. They are leading with action in their investment portfolio and addressing a critical need in our communities for more equality of economic opportunity," said R. Seelaus & Co., Inc CEO Annie Seelaus. "Further they are supporting a women-owned asset manager in doing so and helping move the needle for all firms owned by underrepresented groups."

This will be the fourth allocation from Micron, totaling $300 million, to support impact investment initiatives following earlier investments to diversity and inclusion managers and impact focused programs. Engaging with minority-owned financial institutions is one of Micron's six 2021 diversity, equality and inclusion commitments.

"Ongoing pandemic challenges continue to amplify socioeconomic inequalities disproportionately impacting underrepresented communities across the country," said Micron Chief Diversity and Inclusion Officer Sharawn Connors. "Micron's capital commitments are guided by our values for diversity, equality and inclusion. This allocation of $50 million to Seelaus' SHE strategy reflects how we are leveraging strengths from the business to support local communities where we live and work."

The SHE strategy offers investors a high degree of customization on impact objective including the ability to target a specific geography or demographic, and will allow Micron to support predominantly Black communities including those in the Washington D.C., Northern Virginia, Maryland, and San Francisco Bay Area.

Seelaus Asset Management, LLC (SAM) is a wholly-owned subsidiary of R. Seelaus & Co. Inc.. As a SEC registered investment advisor (RIA), SAM specializes in portfolio management and tactical allocation investment strategies. Founded in 2006, the firm has grown to over $675mm in AUM today. SAM is a full service RIA, managing portfolios for clients of various sizes from high net worth individuals to large corporations. SAM strategies include those focused on impact investing, and various fixed-income and equity markets. The firm is headquartered in Chatham NJ and has offices in Redbank, NJ, Harrison NY, and Boca Raton FL.

Information about Seelaus Asset Management and the Seelaus group of companies is available at rseelaus.com.

Contact:
Annie Seelaus, CEO
[email protected]

SOURCE Seelaus Asset Management