"With our track record in similar market sectors, and our purpose-built OZ fund administration solution, NES Financial is uniquely positioned to deliver administrative excellence in this new space."
SAN JOSE, Calif. (PRWEB) September 06, 2018
Last month, NES Financial announced that it had developed a purpose-built Opportunity Zone Fund Administration Solution to add to its lineup of award-winning financial administration services. On the back of this new service offering, it has now been confirmed that Reid Thomas, Executive Vice President at NES Financial, will speak at the upcoming Opportunity Fund Investing Conference hosted by Community Development Corporation of Oregon.
The Investing in Opportunity Act was signed into law on December 22, 2017, with the purpose of encouraging long-term investment into targeted economically distressed areas across the U.S. Based on their duration, Opportunity Zone (OZ) investments offer investors significant tax incentives, including temporary tax deferral, partial reduction of taxes on an investor’s realized capital gains, and total elimination of taxes on all capital gains due to the appreciation of the OZ investment. As a result, the OZ program opens up enormous potential for developers looking to raise capital at attractive rates and use it to acquire or improve business properties within the qualified zones. With over $6 trillion in unrealized capital gains in the United States, this program has the potential to be the most impactful economic development initiative in history.
The Opportunity Fund Investing Conference will be held on September 14 in Portland, Oregon, with the aim of educating potential investors on the program’s benefits, as well as how to navigate its particular challenges. Mr. Thomas’s presentation, “Establishing Best Practices in Opportunity Zone Fund Administration,” will highlight the advantages of a fund administration solution purpose-built for the Opportunity Zone program.
“The Opportunity Zone program has the potential to provide tremendous benefit to all Americans,” Mr. Thomas said. “As a newly created program with evolving regulations and a fixed time horizon, the success of Opportunity Zones will be highly dependent on industry establishing and adopting best practices that ensure the highest levels of security, transparency, and compliance for all stakeholders. With our track record in similar market sectors, and our purpose-built OZ fund administration solution, NES Financial is uniquely positioned to deliver administrative excellence in this new space.”
The purpose of the NES Financial Opportunity Zone Fund Administration Solution is to efficiently and securely handle administration of growing funds, at scale, so that Opportunity Zone Fund managers can focus on raising capital and deploying it to underserved communities across the country. This includes handling the specialized reporting requirements of the program with the highest possible degrees of fund security, investor transparency, and regulatory compliance.
“Opportunity Zone investment funds need high-quality administrative services in order to satisfy demanding investors,” said Brad Ketch, President of Community Development Corporation of Oregon. “We selected NES Financial for its track record, comprehensive service offering and experience. We look forward to hearing Reid share his perspective on the market.”
To register for the Opportunity Fund Investing Conference, visit its Eventbrite page. For additional information about the Opportunity Zone Fund Administration Solution, please visit the NES Financial website.
About NES Financial
NES Financial is a Silicon Valley financial technology (FinTech) company providing technology-enabled solutions and services for the efficient back- and middle-office administration of complex financial transactions. Serving private equity, commercial real estate, and Fortune 1000 clientele, NES Financial offers industry-leading private equity fund administration, loan servicing, specialized EB-5 and Opportunity Zone Fund Administration, and 1031 tax-deferred exchange services. Our unwavering commitment to data security, operational redundancy, and compliance reporting is evidenced by 12 consecutive years of successful independent audits of our technology, processes, and financial controls. Today, NES Financial services over 190 funds, administers over $20B annually, and has worked with more than 675 EB-5 projects. For more information, visit nesfinancial.com.
About Community Development Corporation of Oregon
Community Development Corporation of Oregon works to improve Oregon communities. It has established two Qualified Opportunity Zone Investment Funds and is now putting capital to work. For more information, visit rockwoodcdc.org.