NES Financial to Administer Arctaris Opportunity Zone Funds

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Boston-based impact investment firm has been investing in low-income areas for more than a decade; continues commitment to social impact mission to raise $500+ million for Opportunity Zones throughout the U.S.

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We were pleased that NES Financial’s purpose-built OZ administration technology could streamline our fund’s unique reporting requirements.

Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration services to Arctaris Impact Investors — a Boston-based impact investment firm focused on creating jobs in small-to-medium operating businesses in manufacturing, renewable energy, telecom, and real estate.

The Arctaris Opportunity Zone Fund, unique in its capital structure, blends public capital from federal and state government agencies with private funding from institutional investors and foundations, including Michigan-based Kresge Foundation. In addition to creating jobs across Opportunity Zones located in states including Michigan, Ohio, Maryland, Maine, and Utah, Arctaris plans to create affordable housing for the workforce of the businesses it invests in.

“Our firm has been investing in low-income areas in the U.S. for more than a decade and we, along with our investors, understand the importance of social impact. Opportunity Zones are a natural extension of our portfolio of funds and with this new initiative, we expect more investors to be interested in making a difference with us,” said Jonathan Tower, founder and managing partner of Arctaris. “Our OZ fund is designed and focused on saving and creating jobs for men and women based in rural and urban Opportunity Zones while providing risk mitigation and first-loss protection for investors.”

“Our approach to impact investing is not traditional because of the nature of our previous debt funds. We were pleased that NES Financial’s purpose-built OZ administration technology could streamline our fund’s unique reporting requirements,” said Ben Bornstein, managing director of Arctaris, who along with Jonathan Tower, joined NES Financial’s OZ webinar as expert panelists on Feb. 12 to discuss social impact.

The NES Financial Opportunity Fund Administration Solution leverages technology to streamline the complex administrative requirements of OZ fund management, helping the Opportunity Zones program have the positive impact it was meant to have. For fund managers and investors, this means a purpose-built solution that embeds security, transparency and regulatory compliance at each step of an OZ investment’s life cycle.

“We are continuing to see the fundamentals of the Opportunity Zone initiative showing positive impact in areas with economic development needs,” said Reid Thomas, EVP of NES Financial. “The rise of impact investment in Opportunity Zones is on an upward trajectory and NES Financial’s social impact measuring tools will help investors better understand the impact they are making in OZs.”

For additional information about the Opportunity Zone Fund Administration Solution, please visit the NES Financial website or contact an NES Financial representative at 1-800-339-1031.

About NES Financial
NES Financial is a specialty financial administrator which serves sectors characterized by high administrative complexity, increased transaction security needs, and challenging regulatory compliance requirements. The company’s purpose-built solutions streamline the administrative processes of these markets — simplifying specialized financial transactions, curtailing fraud and abuse and helping ensure the utmost in security, transparency and regulatory compliance through each step of an investment’s life cycle.

NES Financial, recognized on the San Francisco Business Times’ top Bay Area fintech list, has defined industry best practices in each of the markets it serves — from 1031 exchanges and EB-5 visa funding, to private equity and the landmark Opportunity Zones program. NES Financial services more than 300 funds, administers over $20B annually, and has worked with more than 700 EB-5 projects. For more information, visit nesfinancial.com.

About Arctaris Impact
Arctaris is a Boston-based impact investment fund manager focused on revitalizing disinvested cities and targeted rural communities. The firm has launched and managed five funds during the last 10+ years through partnerships with institutional investors, CRA banks, foundations, the U.S. Treasury Department, and state economic development agencies. For more information visit arctaris.com.

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