NAIC Announces Agreement with U.S. Bancorp Impact Finance to Increase Flow of Capital to Diverse-Owned Alternative Investment Managers

WASHINGTON, Aug. 3, 2023 /PRNewswire/ -- Today the National Association of Investment Companies ("NAIC"), the largest network of diverse-owned alternative investment firms, and U.S. Bancorp Impact Finance, an industry leader in providing financial solutions that help create positive impact for communities and the environment, announced a multi-year Corporate Partnership agreement. This 3-year partnership will advance Impact Finance's goals of increasing engagement with diverse alternative asset managers, with a focus on Black and Latinx-led managers. This will include customized programming, diverse manager roadshows, and direct introductions. Additionally, NAIC will provide training and education to support strategic DEI goals across the organization.

Through this agreement, Impact Finance will play a key role educating and empowering a new generation of ethnically diverse and female investment managers through their sponsorship of NAIC's annual Establishing the Next Generation of Alternative Investment Firms Symposia (NextGen), a series of intensive virtual sessions. In addition, the NAIC Virtual LP Meetup will benefit from Impact Finance's sponsorship, which facilitates hundreds of new connections for NAIC member firms with institutional investors, allowing them to deepen their networks and gain relevant market insights.

"We are committed to supporting diverse-owned alternative investment managers," said Torrence Moore, Head of Access to Capital and DEI, U.S. Bancorp Impact Finance. "NAIC's membership and programming will help us invest in their success as we look forward to playing a role in increasing their opportunities and making access to capital more equitable."

"We are excited to work with U.S. Bancorp Impact Finance to increase opportunities for diverse-owned alternative investment firms," says Robert L. Greene, President & CEO of NAIC. "By supporting NAIC's programs and initiatives, Impact Finance will help our members build meaningful relationships with capital allocators and empower the next generation of ethnically diverse and female general partners."

About National Association of Investment Companies
Celebrating more than 52 years of advocacy and performance, the National Association of Investment Companies (www.naicpe.com) is the trade association and largest network of diverse- and women-owned alternative investment firms. NAIC's membership comprises more than 185 diverse-owned alternative investment firms that collectively manage over $380 billion in assets under management. NAIC member firms invest with over 3,100 portfolio companies globally, and consistently generate superior returns that help fuel the growth of the retirement and asset management industries.

Since 2015, 34 NAIC member firms have raised 67 oversubscribed funds, highlighting investor interest in our members' investment strategies and their longstanding track record in delivering superior returns for limited partners.

About U.S. Bancorp Impact Finance 
U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, is an industry leader in providing financial solutions that help create positive impact for communities and the environment. For 35 years, its tax credit investments and syndications, lending and other financial solutions have helped create affordable housing, spur economic activity in underserved communities, restore historic buildings, develop renewable sources of energy and strengthen community development financial institutions (CDFIs) nationwide. As of March 31, 2023, it has $41.6 billion in tax credit equity investments; $4.2 billion in current loan commitments to affordable housing, renewable energy projects, community development financial institutions (CDFIs) and other community development intermediaries; and has raised $15.7 billion of federal tax equity to support social and environment projects in communities nationwide. Learn more at usbank.com/impactfinance.

CONTACT:
Kristen Perlman
Director of Marketing and Communications
National Association of Investment Companies
[email protected]

SOURCE National Association of Investment Companies