Opp Zone Capital selects NES Financial for fund admin
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Opp Zone Capital selects NES Financial for fund admin 20 April 2020California Reporter: Becky Bellamy
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NES Financial is set to provide fund administration services to Opp Zone Capital, an opportunity zone fund manager and fund sponsor with real estate and operating business investment offerings.
As part of the agreement, NES Financial will provide fund administration services to Opp Zone’s client funds, including a US south-focused real estate fund based primarily in Texas and Florida; a central Florida opportunity zone fund, which aims to benefit from the federal historic tax credit alongside the opportunity zones incentives; and an opportunity zone fund focused on rejuvenating downtown Clearwater, Florida.
NES Financial said its fund administration solution leverages technology to streamline the complex administrative requirements of opportunity zone fund management, helping funds succeed.
Reid Thomas, executive vice president at NES Financial, said: “For fund managers focused on specialty funds like opportunity zones, a purpose-built solution is key in order to maximise the opportunity for success of all stakeholders. Traditional fund administration solutions fall short of meeting the needs of opportunity zone fund managers.”
Jeanine Warhurst Blake, principal of Opp Zone Capital, added: “NES Financial was the first provider to offer dedicated opportunity zone fund administration, and they’re unquestionably the industry leader. Their administration solution gives our clients access to the highest levels of transparency and compliance, with an eye on maximising social impact.”
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