News

Reinvestment Fund participated in financing for the construction of a new CrescentCare health care facility in New Orleans, bringing much-needed primary care and prevention services to a community still rebuilding after Hurricane Katrina. The new 64,000-square-foot facility will enable CrescentCare, a community health center that provides a spectrum of care to expand access to primary care services while enhancing care for current patients. Construction will begin later this summer, resulting in the consolidation of four existing leased facilities into one comprehensive campus. The project will create or preserve over 450 part- and full-time jobs.

Reinvestment Fund was named the Impact Asset Manager of the Year by Global Social Impact Investment Steering Group (GSG). The award recognizes valuable organizations within the emerging industry of impact investing and the contributions they have made over the past twelve months. In honoring Reinvestment Fund, GSG recognized its successful $50 million bond offering, which reached traditional capital markets for low-income community development.

Reinvestment Fund announced the creation of a $10 million Pay for Success (PFS) Fund to support PFS transactions in the United States. QBE Insurance Group, one of the world’s top 20 general insurance and reinsurance companies, plans to invest $7 million in the fund. Living Cities, a collective of the world’s largest foundations and financial institutions, plans to invest $2 million.  Reinvestment Fund will invest $1 million from its core loan fund, which is supported by more than 850 impact investors. Reinvestment Fund will also manage and administer the fund.

Reinvestment Fund is honored to have been selected by USDA as the National Fund Manager for the agency’s Healthy Food Financing Initiative (HFFI), and we are eager to lead this national effort to invest in healthy food access, an economic engine in communities that helps create much-needed jobs and spur small business growth. As the National Fund Manager, Reinvestment Fund is committed to building a more equitable food system that supports the health and economic vibrancy of all Americans, especially those that have not benefited significantly from HFFI investment to date—including rural communities, food systems entrepreneurs, and women- and minority-owned businesses.

Reinvestment Fund applauds the nomination of Pamela Patenaude to be Deputy Secretary of Housing and Urban Development. Ms. Patenaude is the President of the J. Ronald Terwilliger Foundation for Housing America’s Families, a national nonprofit education and research organization dedicated to illuminating the affordable housing crisis in America. She has served as a member of Reinvestment Fund’s Policy Advisory Board since 2014.

Reinvestment Fund, an S&P AA rated Community Development Financial Institution (CDFI), today announced the pricing of $50 million in general obligation bonds. Reinvestment Fund is one of the first CDFIs to access the capital markets and their bonds were oversubscribed, confirming a significant demand among institutional investors for the unique impact investing opportunities their CDFI provides low-income communities across the country.

“The CDFI industry was founded on the faith, trust and patience of a unique class of American investor. These forerunners to impact investors accepted an unconventional and illiquid investment vehicle for many years in the pursuit of a socially responsible outcome for themselves and underinvested communities,” said Donald Hinkle-Brown, President and CEO, in making the announcement.

Reinvestment Fund is honored to have been selected by USDA as the National Fund Manager for the agency’s Healthy Food Financing Initiative (HFFI), and we are eager to lead this national effort to invest in healthy food access, an economic engine in communities that helps create much-needed jobs and spur small business growth. As the National Fund Manager, Reinvestment Fund is committed to building a more equitable food system that supports the health and economic vibrancy of all Americans, especially those that have not benefited significantly from HFFI investment to date—including rural communities, food systems entrepreneurs, and women- and minority-owned businesses.

The United States Department of Agriculture has announced the selection of Reinvestment Fund to serve as the National Fund Manager for the Healthy Food Financing Initiative (HFFI). The announcement, which came from Agriculture Under Secretary Lisa Mensah, is a capstone to Reinvestment Fund’s decade plus efforts to bring equitable access to healthy food to communities across America.

As the National Fund Manager, Reinvestment Fund will raise private capital, provide financial and technical assistance to regional, state and local partnerships, and channel capital to fund eligible projects that will improve access to fresh, healthy foods in underserved rural areas.

Philadelphia, December 19, 2016 — Reinvestment Fund announced the financing of its fourth Pay for Success project today. The Salt Lake County initiative aims to offer a better program to address a long-running county problem – persistent homelessness. Local nonprofit, The Road Home, will operate the Homes Not Jail Program.

The Homes Not Jail program will provide services to improve housing stability, criminal justice and behavioral health outcomes for the persistently homeless. It will serve 315 individuals offering a range of housing assistance and support services including access to behavioral health treatment and employment counseling. Rental assistance through the private rental market and intensive case management are included in the six-year project.

Philadelphia, December 19—Reinvestment Fund was awarded a $3 million program-related investment by The Kresge Foundation to support its creative placemaking efforts in Baltimore, Atlanta and New Orleans. Reinvestment Fund is one of six organizations that received a total of $14 million in investments from Kresge.

Reinvestment Fund has made over $95 million in arts-related investments—from the Crane Arts building, an old bath fixtures warehouse in Philadelphia that now includes studios and makerspace to the revival of the Center Theater in Baltimore, MD, which sat vacant for decades.