Baird FICM Supports misson-based lender Arctaris with $25M Facility Funding
BOSTON, October 14, 2024 – Baird’s Fixed Income Capital Markets group today announced that it recently served as an intermediary to secure a new $25 million facility for mission-based lender, Arctaris Impact Investors, LLC (“Arctaris”), from BankUnited N.A, one of the nation’s largest independent depository institutions.
Headquartered in Boston, Arctaris is a leading investor in creating opportunities for underserved communities and intends to use the funds to further its work in making sustainable partnership-based investments, providing capital for operating businesses, infrastructure and real estate. The $25 million funding facility will be comprised of two credit lines: a $15 million Opportunity Zone fund line, and a $10 million Management Company line. The Opportunity Zone fund will serve as an economic development tool allowing investors to place capital in underserved inner-city and rural communities, stimulating economic growth and job creation. The management line provides capital to Arctaris for operational expenses such as office space, employee salaries, and other costs necessary to operate the fund.
By leveraging the firm’s relationships with bank and non-bank clients and negotiating various structures, Baird assisted in identifying BankUnited N.A. as the most effective source of capital. Based in Florida, BankUnited N.A. is dedicated to building strong communities through the Community Reinvestment Act which supports low and moderate-income individuals and families as well as small businesses.
Baird is proud to help bring critical capital to low-income and underserved communities through its work with Arctaris. Our deep relationships enable us to aid in the process of sourcing capital by finding the right lender that matches the financial and operational needs of the investment fund.
Ross Cohn, Head of Fixed Income Sales at Baird
Baird’s support of Arctaris demonstrates its ability to simplify the challenging and time-consuming process of sourcing capital for its clients. The firm is committed to helping clients achieve optimal funding for their businesses through its differentiated ability to understand the most complex funding needs. Baird has secured various types of capital for a range of Lenders (“Lender Finance”) and Fund Managers.
For additional information:
Baird Public Relations
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About Baird Fixed Income Capital Markets
Baird’s Fixed Income Capital Markets platform is composed of seasoned professionals focusing on Sales & Trading and Public Finance. Our Sales & Trading team delivers precise trade execution, timely analysis and unique ideas from a team of tenured product specialists in the areas of corporate credit, government and agency, municipal and securitized products. We continue to strategically grow our business by expanding our product expertise, service offerings and broadening our reach in both the United States and the U.K. to best support the needs of our clients and institutional investors. https://www.rwbaird.com/corporations-and-institutions/fixed-income-capital-markets/
About Baird
Putting clients first since 1919, Baird is an employee-owned, international wealth management, asset management, investment banking/capital markets and private equity firm with offices in the United States, Europe and Asia. Baird has approximately 5,100 associates serving the needs of individual, corporate, institutional and municipal clients and more than $455 billion in client assets as of June 30, 2024. Committed to being a great workplace, Baird ranked No. 34 on the 2024 Fortune 100 Best Companies to Work For® list – its 21st consecutive year on the list. Baird is the marketing name of Baird Financial Group. Baird’s principal operating subsidiaries are Robert W. Baird & Co. Incorporated and Baird Trust Company in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s website at www.rwbaird.com.
About Arctaris Impact Investors
Arctaris Impact Investors, LLC is a Boston-based impact investment firm with experience spanning more than 13 years over seven funds. The firm manages funds which invest in growth-oriented operating businesses and community infrastructure projects located in underserved communities. Founded in 2009, Arctaris has partnered with the Kresge Foundation, Harvard Business School Professor Michael Porter’s Initiative for a Competitive Inner City (ICIC), and multiple other foundation, federal and state government agencies to invest in Opportunity Zones, inner cities and targeted rural communities throughout the U.S., with the aim of delivering above-market investment returns alongside positive social impact. For more information, visit https://Arctaris.com or for press inquiries contact ir@Arctaris.com.
About Bank United
BankUnited, N.A., a wholly-owned subsidiary of BankUnited, Inc., is one of the largest independent depository institutions headquartered in Florida, providing a broad range of consumer and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. BankUnited operates convenient banking centers in Florida, New York and Dallas, Texas, along with 24-hour digital access. As of March 31, 2024, BankUnited N.A. has $35.1 billion in total assets. For more information, visit https://www.bankunited.com/homepage