Turner-Agassi Charter School Facilities Fund
United States of America
Last updated 11 May 2020, by Impactyield.
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (112)
The Turner-Agassi Charter Schools Facilities Fund is a closed-end real estate fund that will promote the success and scale the growth of best in class charter schools operators by acting as a for-profit “bridge developer” of educational facilities in urban America. The Partnership will invest in charter schools by building/retrofitting academically friendly, environmentally responsible learning spaces and leasing them to best-in-class charter school operators who lack the financial and real estate resources to own or build campuses during the initial start-up or incubation years of a charter school. Since 2000, members of the TACSFF senior management team have constructed over 60 schools serving 25,000 students, consistently delivering superior and cost-effective facilities to CMOs including KIPP, Green Dot, and Aspire.
The Partnership will seek strong market-rate risk-adjusted returns over a projected 5-7 year holding period.
of track record
the year funded
Turner Impact Capital
Headquarters location: United States of America
Other funds managed by this asset manager: Turner Multifamily Impact Fund, L.P.
Key performance indicators
Asset manager: Turner Impact Capital
Product track record: Fund has 13 years of track record
Target IRR: n.a.
Committed Capital: n.a.
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Closed - still investing
Inception year: 2010
Vintage year: 2010
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: n.a.
Product term: 9 years
Assets under management: n.a.
Investment size: Min: 5,000,000; Max: 25,000,000; Avg: 10,000,000
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 21
Fund investments to date exited or repaid: 0
Management fee: n.a.
Carried interest: n.a.
Hurdle rate: n.a.
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds
Phone number: 310.752.9600
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Principal and CEO
The Partnership will pursue a triple bottom line strategy that enhances the value of its properties, furthers environmental responsibility, and enriches the lives of the residents within the neighborhoods in which they are located in by building tens of thousands of school seats for the most "at-risk" children in urban america. In addition to its green initiatives, TACSFF will empower third party and/or not-for-profit operators to provide programs of relevance and benefit to students such as after-school tutoring, public safety initiatives, on-site health clinics, and community based financial and credit counseling to enhance students’ quality of life. TACSFF plans to accomplish this by offering those operators space in the charter schools at subsidized rents in exchange for such operators providing services. TACSFF will seek corporate and foundation support for these initiatives and anticipates setting aside, at reduced rent levels, a certain square footage of each school to accommodate these initiatives.