Job Summary: The Vice President, Equity Capital Raising (VPECR), as part of the Capital Group team, works closely with the Executive Vice President, Capital Group and Vice President, Capital Management. The VPECR is responsible for raising capital, recruiting new investors, managing investor relationships and coordinating capital raising efforts with internal staff and external partners for Cinnaire’s housing tax credit equity funds. The VPECR has extensive knowledge of the Low Income Housing Tax Credit (LIHTC) Program a high level of organizational skills, and excellent written and verbal communication skills. This individual is confident, independent, persistent, and results oriented.
Reporting Relationship: Reports to the Executive Vice President, Capital Group
Duties and Responsibilities:
- Research and stay apprised of industry practices and trends for possible changes to new funds.
- Evaluate and complete monthly surveys and consult with investors regarding target yields.
- Maintain a listing of all changes to offering documents and track relevant administrative documents for the fund – certificate of Limited Partnership, articles of incorporation, bylaws, EINs, bank accounts, etc.
- Coordinate with outside counsel and internal staff in developing fund offering documents.
- Review fund offering documents and sign off on final versions.
Marketing to Investors:
- Distribute offering documents to core investors and to new potential investors and maintain log of same.
- Coordinate with marketing and capital management staff in the review of marketing materials and investor due diligence presentation materials.
- Distribute fund marketing materials to existing and new potential investors.
- Conduct research to locate new investors in targeted markets.
- Maintain ongoing relationships and communications with existing active investors.
- Track all investor communications and distributions via relevant tracking sheets.
- Coordinate with internal staff to determine appropriate fund parameters (size, target IRR, etc.)
- Conduct investor sales pitch meetings. Meet with high-level staff such as Chief Investment Officers, Chief Financial Officers, Head of Tax, Head of CRA, etc., at targeted investor companies
- Manage Single Investor Fund (SIF) relationships, maintain SIF pipelines and communicate with SIF investors as needed. Manage closing process of individual deals into SIFs.
- Travel and attend conferences, meetings, and events for investor recruitment.
Investor Due Diligence:
- Act as main point of contact with investors, manage communications with investors and respond to investor inquiries.
- Coordinate with Capital Management staff to obtain responses to investor inquiries.
- Understand content of relevant investor due diligence templates.
- Coordinate and participate in follow-up calls with investors as needed and include relevant internal staff if necessary.
- Manage investor due diligence meetings – stay on agenda, respond to questions, manage time.
- Gain knowledge of internal Cinnaire staffing responsibilities.
- Understand each investor’s business and legal approval processes and timing of each.
- Negotiate requested legal changes, amendments to the offering documents, and side letters in coordination with outside counsel and investors’ business and legal representatives. Track such comments and changes for preparation of future fund documents.
- Provide prompt responses to legal inquiries to keep the closing process on track.
- Maintain tracking sheet for investor closing documents.
- Prepare CRA letters and track CRA allocations.
- Coordinate fund closing with outside counsel.
Investor Reporting and Capital Calls:
- Interact with investors on initial requests related to investor reporting and capital calls and direct such requests to appropriate staff.
- Act as a point of contact for investors on an ongoing basis.
- Bachelor’s degree and 10 or more years of prior housing tax credit equity experience
- Extensive knowledge of the Low Income Housing Tax Credit (LIHTC) program.
- Experience with raising capital for housing tax credit funds or significant experience in housing tax credit originations, underwriting, or asset management.
- Strong communication and negotiating skills with an ability to interact with high level individuals within financial institutions (e.g., CFOs, chief investment officers, bank presidents, etc.).
- Ability to analyze and synthesize a large amount of information.
- Exceptional organizational skills and an ability to juggle multiple priorities.
- Ability to handle a time-pressured and high-stress environment.
- Excellent interpersonal skills to develop strong and productive relationships with investors, the Cinnaire executive team, staff, and board members.
- An entrepreneurial spirit with a demonstrated ability to plan and work independently in a dynamic environment.
- Strong collaborator, while maintaining accountability and responsibility for individual goals.
- A natural leader who is motivated and energized by a challenging environment.
- A clear commitment to and appreciation for the work, mission, and culture of Cinnaire.