Enhanced Capital

Enhanced Capital operates as a private credit investment manager with two primary strategies: Project Finance, which uses federal and state tax credit programs to finance real estate and community development, and Small Business Lending, focused on originations to businesses underserved by conventional lenders. The firm syndicates tax credits primarily to insurance companies while retaining and servicing the underlying credit exposure. This hybrid model allows it to generate returns from both lending spreads and tax-credit placements.

The firm originates deals through a geographically distributed team across New York, New Orleans, Chicago, St. Louis, Georgia and Ohio, with principals who have deep local networks in community development and small-business lending. Its Project Finance pipeline relies heavily on relationships with developers and businesses that qualify for New Markets Tax Credit allocations, while the Small Business Lending team — staffed by veterans of SBIC and commercial-banking institutions — sources through both direct outreach and intermediary referrals. The tax-credit syndication desk adds a further sourcing advantage by maintaining relationships with institutional investors seeking tax-advantaged placements.

Enhanced Capital Group is a strategy of Ridgepost Capital, Inc., a diversified multi-asset investment platform whose shares trade on the New York Stock Exchange under the ticker RPC. The CEO, Michael Korengold, serves on the firm's investment committees and board of directors, operating with the autonomy typical of a subsidiary partnership model. Public filings do not detail the full ownership breakdown or the existence of a carried-interest pool for the internal team.

The firm manages capital through both proprietary assets and assets managed on behalf of affiliates, with total capital raised across all vehicles reaching $6.9 billion as of March 31, 2026. The firm's website references state-sponsored investment funds and New Markets Tax Credit entities, and the former CFO of Tree Line Capital Partners now serves as Enhanced Capital's CFO, suggesting familiarity with both commingled fund structures and separately managed accounts. The exact split between fund vehicles and SMAs is not publicly detailed.

Enhanced Capital operates as a distinct strategy within Ridgepost Capital, Inc. (NYSE: RPC), a multi-asset investment platform. This structure provides institutional-grade compliance, treasury and reporting infrastructure while allowing Enhanced Capital to maintain its own brand, investment committee and client relationships. Public disclosures do not indicate whether Ridgepost provides seed capital to Enhanced Capital's vehicles or guarantees any portion of its liabilities.

Enhanced Capital's tax-credit syndication team, led by professionals with backgrounds at Monarch Private Capital and RW Baird, primarily targets insurance companies as buyers of state and federal tax credits. Insurance firms are natural buyers because they can use tax credits to offset premium-tax liabilities while meeting community-reinvestment obligations. The firm's marketing materials state a focus on institutional investors including insurers, asset managers and corporations.

The firm tags its investments within three impact themes: Underserved Communities, Environmental Sustainability, and Community Development Programs. Impact reporting appears tied to the statutory requirements of New Markets Tax Credit allocations and state-level incentive programs, which mandate community-outcome tracking. The firm's website highlights its financing of Firebird Community Arts in Chicago as an example of capital reaching an economically challenged neighborhood, but it has not published a standalone impact report or third-party verification framework.