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LISC Fund Management
LISC Fund Management, LLC is an SEC-registered investment adviser in New York, NY, registered since 2020. The firm manages approximately $615 million in...
LISC Fund Management
LISC Fund Management, LLC is an SEC-registered investment adviser in New York, NY, registered since 2020. The firm manages approximately $615 million in assets. It has 14 employees and 14 investment advisers.
General information
Firm type
Asset Manager
Location
Region
North America
Country
United States
Frequently asked questions
Who runs investment decisions at LISC Fund Management?
LISC Fund Management operates under the broader LISC organization. Specific investment professionals are not publicly named at the fund management level. The parent organization's CEO is Michael T. Pugh, who leads LISC's overall strategy (per LISC's website).
How does LISC Fund Management source proprietary deal flow?
LISC operates a national network of local program officers across 40+ offices who identify and underwrite community development projects. This on-the-ground presence gives the fund manager access to a pipeline of affordable housing, commercial real estate, and community facility deals that may not be broadly syndicated to institutional investors.
What investment stages does LISC Fund Management typically target?
LISC Fund Management focuses on debt and tax-credit equity investments at the construction and permanent financing stages. It does not typically participate in early-stage venture or growth equity. Its investments are predominantly in real assets with predictable cash flows backed by federal tax-credit programs or government guarantees.
Is LISC Fund Management structured as a single family office or a registered investment advisor?
LISC Fund Management is a wholly owned subsidiary of the nonprofit LISC and operates as an institutional asset manager, not a family office. Its investment vehicles are offered to accredited institutional investors, not individual family offices.
Which sectors does LISC Fund Management explicitly avoid?
The fund manager avoids speculative real estate, fossil fuel infrastructure, private equity buyouts, and any investment that does not generate measurable community benefit aligned with LISC's mission of community development.
Does LISC Fund Management participate in fund commitments or only direct deals?
LISC Fund Management primarily invests directly in real assets (affordable housing, commercial real estate, community facilities) but also invests through partnerships with other community development financial institutions (CDFIs) in club deals or co-investment structures.
How is LISC Fund Management related to the broader LISC organization?
LISC Fund Management is the for-profit investment arm of LISC, a national nonprofit founded in 1979 by the Ford Foundation and other philanthropic organizations. While LISC raises grant capital and program-related investments (PRIs) from foundations, LISC Fund Management targets institutional market-rate returns from banks, insurance companies, and pension funds.
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