Opportunity Finance Network Strengthens Investment Strategy for Growth
Opportunity Finance Network Enhances Its Investment Services
OFN increases focus on portfolio strategies to support CDFI growth and impact with new solutions.
Introduction of Portfolio Management Department
Opportunity Finance Network (OFN), a leading player in the investment intermediary space, has made significant strides by launching a Portfolio Management department within its Investment Services division. This strategic initiative marks a pivotal moment for OFN as it embarks on a new chapter aimed at enhancing its operational efficiency and expanding its influence within the community development financial institution (CDFI) sector.
New Leadership for Growth
As part of this restructuring, notable promotions have taken place within the organization's leadership. Jessel Amin, OFN's Executive Vice President and Chief Investment Officer, explained, "After five years of unprecedented portfolio expansion, we are positioning ourselves for a new era of growth.” The separation of the origination from portfolio management is intended to harness insights derived from improved data collection and analysis, thereby strengthening credit risk management and increasing market presence.
Strategic Focus on Community Development
Over the past five years, OFN has seen remarkable growth, with investments in new borrowers soaring by 77%, reaching 188 CDFIs. Investments have nearly doubled, underscoring the necessity for a new approach to support intermediary members effectively. To date, the Investment Services team has successfully deployed $254 million in grants and loans since 2020, alongside facilitating $855 million in long-term, low-cost capital bonds for various members.
A New Era of Leadership
Khalid Sarwary has been appointed as Senior Vice President, Credit Risk and Portfolio Management. In this capacity, he will oversee credit policies and ensure they align with financial and impact goals. His extensive background includes more than 15 years in credit risk management, making him an asset to OFN as it continues to scale its portfolio.
Leadership Changes to Enhance Operations
Further reinforcing the leadership team, Lisa Wright takes on the role of Senior Vice President, Head of Investment Originations. This position involves overseeing investment origination activities, conducting due diligence, and managing a suite of impact investment products, including grants and equity. Wright's extensive experience since joining OFN in 2018 has resulted in significant growth of the organization's investments under management.
Keys to Success
Shakeyda (Keys) Daniel now serves as Senior Vice President, Head of Bond Guarantee Program and Investment Operations. Her expertise has been instrumental in streamlining investment operations and expanding access to capital, crucial for better serving OFN’s members. Through the Bond Guarantee Program, she has successfully facilitated the origination of substantial long-term capital to CDFIs, demonstrating her impact in this vital area.
Conclusion: Aligning with Growth Objectives
The recent promotions and organizational changes at OFN are strategically aligned with the goal of enhancing growth and impact. By refining its structure to better support CDFIs through tailored products and capital solutions, OFN is positioned to continue playing a crucial role in fostering economic opportunities across underserved communities.
About Opportunity Finance Network
Opportunity Finance Network is the premier network focused on community development investments, managing over $1 billion in total assets. With membership exceeding 475 community development financial institutions (CDFIs), the network works tirelessly to ensure that communities overlooked by mainstream finance gain access to essential financial products and services. Through its collaborative efforts with various sectors, including foundations, banks, and government agencies, OFN has played a vital role in catalyzing change and creating economic opportunities for over 40 years.
Since its inception, OFN members have facilitated $124 billion in cumulative financing, significantly contributing to job creation, business development, and community infrastructure improvements.
Frequently Asked Questions
What is the main focus of Opportunity Finance Network's new department?
The new Portfolio Management department aims to enhance investment services and support CDFI growth through better strategy implementation and risk management.
How has OFN changed in terms of portfolio growth?
OFN's investment in new borrowers has increased by 77%, showcasing significant portfolio growth and financial commitment to its members.
Who are the key leaders in the newly structured organization?
Key leaders include Jessel Amin, Khalid Sarwary, Lisa Wright, and Shakeyda Daniel, each managing different aspects of investment and operational strategies.
What impact does OFN hope to achieve with these changes?
OFN aims to deepen its impact on community development through targeted capital solutions and enhanced support for its members.
How does OFN support underserved communities?
OFN provides access to affordable financial products and services, fostering economic development and opportunities in neglected areas.
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