Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration services to Opp Zone Capital — an Opportunity Zone fund manager and fund sponsor with real estate and operating business investment offerings.
Principals Jeanine Warhurst Blake and Edmon Rakipi founded Opp Zone Capital on the conviction that their team’s experience, solid understanding of market fundamentals, and deep knowledge of the Opportunity Zones program would translate to success in directing client investment strateg
Under the new agreement, NES Financial will serve as the provider of fund administration services to Opp Zone’s client funds. These funds currently include a U.S. South–focused real estate fund ($40 million target raise) based primarily in Texas and Florida; a central Florida OZ Fund ($120 million target raise), which aims to benefit from the federal Historic Tax Credit alongside the Opportunity Zones incentives; and an OZ Fund focused on rejuvenating downtown Clearwater, FL ($150 million target raise).
“NES Financial was the first provider to offer dedicated OZ fund administration, and they’re unquestionably the industry leader,” said Blake. “Their administration solution gives our clients access to the highest levels of transparency and compliance, with an eye on maximizing social impact.”
“Through NES Financial’s portal, investors in our client funds get real-time access to fund status and capital account financial data, along with an objective measuring score about the social impact our fund is making, based on the iRR platform—all of which is very important to them and us,” added Rakipi.
To read our full press release, please click here.
Contact Us
NES Financial welcomes your questions and opinions. Allow us to address your business needs by contacting us here. We look forward to hearing from you!