ABSTRACT
Large institutional investors are increasingly placing capital in community investments, 1 seeking high financial returns while spurring economic growth in under-served areas. They look to invest large amounts of capital into easily replicable financial instruments that generate risk-adjusted market-rate returns. In contrast, investments in underserved communities are small, illiquid, and specialized to meet community needs. The challenge has been to find ways to funnel large amounts of institutional capital to community investments that have both high financial returns and meaningful benefits for communities. 2
