NES Financial, a fintech company providing technology-enabled solutions for the efficient back- and middle-office administration of complex financial transactions, announced today that it has contracted to provide its 40th Opportunity Zone client with a purpose-built Opportunity Zone Fund Administration.
“NES Financial’s purpose-built solution for opportunity zone funds allows them to demonstrate the measurable good they were designed to achieve,” said Michael Halloran, CEO at NES Financial. “With our combined Silicon Valley and Big-Four DNA at NES Financial, we have found considerable demand among the industry’s highly-desired funds.”
NES Financial works with clients invested in creating positive economic impact throughout the country, including Wall Street leaders and real estate sponsors like Cantor Fitzgerald, to operating business and real estate funds such as Hotbed Entertainment Group’s fund, which was created by key players from Blue Man Group.
Opportunity Zone Funds are qualified private-sector investment vehicles that invest at least 90 percent of their capital into Opportunity Zones (OZs) — designated economically distressed areas across the U.S. The tax incentives associated with the OZ program were developed to foster long-term investment into these areas, with benefits accruing to investors at 5-, 7- and 10-year milestones.
Read the full 40th Opportunity Zone Fund press release by clicking here.
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