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CRA Affordable Housing Fund
United States of America
Last updated 12 May 2020, by Impactyield.
Fund geography
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (113)
CRA Affordable Housing Fund makes investments that preserve affordable housing by maintaining rents below 80% of area median income in cities throughout the United States.
Financial description
Fund preserves affordable housing, maintaining rents below 80% AMI. Manager renovates with allocations of low income tax credits to insure long term affordability. Fund also assists financial institutions with satisfying CRA investment requirements.
8 years
of track record
2015
the year funded
35,000,000 USD
AUM
Interested in this fund?
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Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
Key performance indicators
Fund overview
Asset manager: CRA Affordable Housing Fund / PHG Financial
Product track record: Fund has 8 years of track record
Target IRR: 8%
Committed Capital: 0 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Open - no committed capital
Style/Stage: Core
Inception year: 2015
Vintage year: 2016
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: 01/04/2017
Product term: 5 year term
Assets under management: 35,000,000 USD (US Dollar)
Investment size: Min: 2,000,000; Max: 20,000,000; Avg: 8,000,000
Co-investment policy: Only with LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 1
Fund investments to date exited or repaid: 0
Management fee: 1.5%
Carried interest: 5%
Hurdle rate: 7%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Family Office, Pension Funds, Other Institutional Investors
Contact
E-mail: n.a.
Website: http://www.phgfinancial.com
Phone number: 3126375673.00
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Gerald Haan
Manager
Impact Performance
n.a.
Impact thesis
Fund preserves affordable housing, maintaining rents below 80% AMI. Manager renovates with allocations of low income tax credits to insure long term affordability. Fund also assists financial institutions with satisfying CRA investment requirements.
Impact Management
n.a.