Overview

A Stellar Track Record

We have one of the most successful records in the tax credit industry. We’ve closed more than 75 institutional LIHTC funds since our founding.

Our ability to raise capital is a direct result of our excellent returns. The actual IRRs of our funds average 104 percent of the original investment IRR.

Institutional LIHTC Tax Credit Funds

0
25
50
75
100
125
150
175%
115%
I
91%
II
97%
III
106%
IV
98%
VII
154%
VIII
100%
IX
99%
X CA
103%
X CA 2
101%
X CA 3
101%
X CA 4
108%
X CA 5
106%
X CA 6
104%
X CA 7
103%
X CA 8
107%
X CA 9
102%
X CA 10
101%
X CA 11
104%
X CA 12
101%
X CA 13
100%
X CA 14
100%
X CA 15
100%
X CA 16
102%
X NJ
102%
X NJ 2
105%
X NY
99%
X NY 2
98%
X NY 3
109%
X NY 4
118%
X NY 5
95%
X NY 6
103%
X NY 7
106%
X NY 8
101%
X NY 9
105%
X NY 10
96%
XI
101%
XII
96%
XII-2
101%
XIV
106%
XV
129%
XVI
112%
XVII
108%
XVIII
93%
XIX
100%
XX
120%
XXI
98%
XXIII
102%
XXIV
115%
XXV
99%
XXVI
105%
29
134%
30
107%
31
129%
32
120%
33
105%
34
106%
35
104%
36
106%
37
101%
38
100%
39
100%
40
100%
41
100%
42
100%
43
100%
44
100%
45
110%
WNC36-3

Diversified Product Lines

We offer investors a choice of national, state, private label and retail funds, each designed to take advantage of promising opportunities.

Funds Investors Tax Credit Funds Pre-Tax Credit Funds
National Multi-Investor Funds 25 62
Proprietary Funds 24 11
California Funds 16 39
New York Funds 12 16
Preservation Equity Funds 1 5
State Credit Funds 8 18
Individual Investor Funds
19,400 53 73
National Multi-Investor Funds
Proprietary Funds
California Funds
New York Funds
Preservation Equity Funds
State Credit Funds
Individual Investor Funds
Funds
25
24
16
12
1
8
Investors
62
11
39
16
5
18
19,400
Tax Credit Funds
53
Pre-Tax Credit Funds
73

Attracting Repeat Investors

We value the many solid partnerships we have forged over the years. In fact, more than 90 percent of the capital we raise is from these relationships.

Our partners include more than 100 institutional investors and 30 Fortune 500 companies. No single investor has provided more than 15 percent of the total equity raised.

Capital
Sources
Repeat Investors 92
Other 8
Repeat Investors
92
Other
8
Industries
Banking 60
Insurance 30
Other 10
Banking
60
Insurance
30
Other
10
Products
Multi-Investor State & National Funds 82
Other 18
Multi-Investor State & National Funds
82
Other
18