The NHP Foundation Welcomes Two New Members to Board of Trustees

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Additions Bring Deep Financial Experience, Acumen to Not-for-Profit Affordable Housing Provider

Grace Torres, Charu Singh

“Charu and Grace add critical depth and dimension to our board at a time in NHPF's trajectory when we, like many in the industry, are accelerating production and preservation of affordable housing to meet the urgent need,” said Ralph F. Boyd, Jr., Chair of the NHPF Board.

The NHP Foundation (NHPF) announced that it has named two new members to its Board of Trustees. Charu Singh, Managing Director, Portfolio Management, Emergent Capital Partners and Grace Torres, former Senior Vice President, Prudential Investments and will join the Board effective immediately.

“Charu and Grace add critical depth and dimension to our board at a time in NHPF's trajectory when we, like many in the industry, are accelerating production and preservation of affordable housing to meet the urgent need,” said Ralph F. Boyd, Jr., Chair of the NHPF Board, adding that the two personify the professionalism and work ethic that embody the now 11-person NHPF Board.

Charu Singh is a real estate leader, investor, and strategist with over 15 years of end-to-end transaction and portfolio management experience in the US and Asia, guided by a passion for innovation in social impact and sustainability. In her current role with Emergent Capital Partners, Charu has been instrumental in scaling the private equity real estate firm from start-up to an institutional-grade investment platform. In Charu’s previous roles in the non-profit sector and with the New York City Economic Development Corporation, she has demonstrated a consistent commitment to working with underserved communities across sectors, cultures, and borders with a focus on real estate investment and development. An insightful voice on social equity in real estate, Charu is currently collaborating with industry leaders to develop a broader social impact framework to guide investors and developers.

Grace Torres is a financial executive with over 30 years experience in the mutual funds and asset management business. She currently serves on the Boards of the Prudential Retail Mutual Funds complex, OceanFirst Financial Corp. and its wholly owned bank, OceanFirst Bank N. A. , and is the chair of the audit committee of those boards. She served on the board of Sun Bancorp and Sun National Bank, its wholly owned subsidiary, prior to its acquisition by OceanFirst Financial Corp. Grace has a track record of quality and success in all facets of mutual fund treasury functions as well as mutual fund operational matters. She has extensive experience in financial and regulatory reporting, operational risk management, and the implementation and effective management of internal controls in various industries. She was formerly the Chief Financial Officer and Treasurer of the retail and annuity mutual fund complexes of Prudential Investments and was instrumental in supporting the successful growth of Prudential’s mutual funds business to over $230 Billion in assets under management. Prior to Prudential, she worked in other financial services organizations and as a CPA in public accounting, auditing public and private companies in diverse industries and various sizes. Grace is a CPA in the state of New York and received a degree in accounting and management from New York University.

“With the addition of Charu and Grace, we are able to expand the wide-ranging ideas and ingenuity that have always characterized a board that keeps NHPF ahead of the curve in the affordable housing ecosphere,” added NHPF President & CEO Richard F. Burns. “We look forward to working together to forward our mutual mission."

About the NHP Foundation
Headquartered in New York City with offices in Washington, DC, and Chicago, IL, The NHP Foundation (NHPF) was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. Since that time NHPF has invested nearly $1.2 billion in the preservation of affordable housing throughout 15 states and the District of Columbia. The investing of these funds has resulted in economic stability for thousands of seniors, families, and children. Communities have been enriched, school systems have remained intact, local businesses sustained their patrons and residents retained their employment. Through Family-Centered Coaching, NHPF’s subsidiary Operation Pathways engages with, and assists, families experiencing poverty and other hardship, to problem-solve together. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has 57 properties, including more than 10,000 units. For more information, please visit http://www.nhpfoundation.org.

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