For Investors
Investors represent the capital that helps fuel affordable housing development. Banks, GSEs, insurance companies and other major corporations deliver billions of dollars each year to sponsors of low-income housing developments, and their tax-credit equity has helped fund 1.9 million affordable homes.
High-Impact Investing
NEF, Inc. has directed more than $7.5
billion to 1,800 projects nationwide. Investments are made through
multi-investor funds as well as single-investor funds. Those investor
dollars have helped build 109,000 units of rental housing since 1987. We have worked with 700 developers to make those deals happen. The projects in which we invest include 
"green" housing for families, permanent supportive housing for homeless veterans and the disabled, and service-enriched projects for seniors.
Working
together.
Investing in America's future.
K-1s and Financial Statements
Annual K-1s and Financial Statements are available. Login to print or download statements.
NEF's Current Fund Line-up
NEF currently has 115 fund under management. Multi-Investor Funds pool capital from multiple investors to spread risk and leverage impact. Our multi-investor funds include:
-- National Equity Fund (NEF): makes investments in all states;
-- New York Equity Fund (NYEF): focuses on New York City developments, and investments are made in partnership with LISC, The Enterprise Foundation and the city of New York
-- California Equity Fund (CEF): focuses on California developments
Proprietary Funds invest in projects on behalf of one investor. The investor typically exercises more control over underwriting and product selection than is the case with a multi-investor fund, though there is less opportunity to spread risk.
Fund Structure
NEF's fund structure is unique in the industry.- Our asset management operation is self-sustaining and fully funded. Regardless of how much or how little new business we close, our asset management efforts continue intact through the 15-year compliance period.
- Reserves are specifically earmarked for professional services and workout needs. Most syndicators utilize a working capital line that combines asset management fees, reserves and front-end fees. We believe separate reserves better protect investors' interests, and we have structured our funds to reflect that.
NEF, Inc. Investors
NEF, Inc. investors have supported the development of 100,000 units of affordable housing since 1987. Take a look at some of the projects their capital has made possible.
NEF has invested $7.5 billion of equity that has helped build 109,000 homes in 1,800 projects across America.
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