SAN FRANCISCO, Feb. 07, 2017 (GLOBE NEWSWIRE) -- Impact Community Capital (ICC) today announced that its Board of Directors has appointed Jeff Brenner as President and Chief Executive Officer. Mr. Brenner previously served as the firm’s interim President and CEO.
Established in 1998, ICC has provided more than $1 billion in financing for affordable multifamily housing, community healthcare facilities, childcare centers, and other community facilities serving families and communities in 38 states plus the District of Columbia. It was founded by a consortium of insurance companies to facilitate their investments in projects that benefit low-income families and communities.
“The Board is excited to have Jeff leading Impact as it implements its new, five-year growth strategy,” said Tony Tomich, ICC Board Chair. “During his time as interim CEO, Jeff has demonstrated the passion, commitment and leadership to achieve our vision of growing the company. We have every confidence Jeff will help ICC and its investors make large scale investments that will provide opportunities for low income communities and families.”
Mr. Brenner has built an impressive career in community development finance over the past 23 years. Prior to joining ICC, he served as CFO of Capital Impact Partners. During his tenure there, the firm was a leading innovator in building a bridge between the capital markets and investing in underserved communities. Mr. Brenner raised more than $600 million in new capital to finance facilities for housing, healthcare, education and fresh foods. He grew assets under management from $255 million to over $800 million. Since joining ICC in 2012, the firm has provided nearly $400 million of financing for affordable multifamily housing and securitized over $300 million dollars of mortgages in two securitizations consisting solely of loans for affordable housing projects.
“ICC is a true industry pioneer, and I am excited about the opportunity created by the growing interest in impact investing to reach new investors and to make investments that will help communities reach their economic and social potential,” said Mr. Brenner. “I’ve spent the past 30 years working to invest capital to improve the lives of people and communities and in doing so, demonstrating that these investments can be suitable for institutional investors seeking investment safety while making a significant impact in the communities they serve.”
About Impact Community Capital LLC
Impact Community Capital LLC is a for-profit company founded by leading insurers to promote socially responsible investments in underserved communities. The company was an early leader in making investments that facilitate social change long before “Impact Investing” began its move to the mainstream. Impact pioneered the pooling and securitization of community investment portfolios to direct large amounts of capital for affordable housing and used federal New Markets Tax Credits to invest in community childcare and healthcare facilities. It is owned by the following insurance companies: Allstate Insurance Company, Farmers Insurance Exchange, Nationwide Mutual Insurance Company, Pacific Life Insurance Company, State Farm Mutual Automobile Insurance Company, Teachers Insurance and Annuity Association of America, and 21st Century Insurance Company. For more information, call (415) 981-1074, or visit www.Impactcapital.net
CONTACT: Germaine Bennison 415.981.1074 ext. 35 gbennison@Impactcapital.net
Source:Impact Community Capital LLC