As an affiliate of Forsyth Street Advisors, Forsyth Street Asset Management serves as a fund manager of multiple social impact investment funds, built through partnerships between leading public, private, and philanthropic institutions. Each fund plays an intermediary role between the supply of and the demand for policy-driven capital to address critical needs in each community.
Through our fund management role, FSAM functions as a specialized lender and portfolio manager, with responsibility for real estate underwriting, loan origination and servicing, investor reporting, capitalization and balance sheet management, and new product development. FSAM provides asset management capacity from inception and design of a fund through capitalization, and manages all aspects of operations.
FSAM, through its affiliate Forsyth Street Renewables (FSR), also manages several utility-scale renewable energy partnerships. These partnerships own and operate either wind or solar energy installations and benefit from Federal tax incentives, municipal investments and power purchase agreements. FSR serves as the Managing Member of these partnerships, providing asset management, project oversight, cash management, and reporting services.
Forsyth Street Asset Management is a Registered Investment Advisor (“RIA”), subject to various rules set forth by the SEC and the Financial Industry Regulatory Authority (FINRA).
FSAM has no retail clients and does not provide services to individual investors. It does not engage in security trading on behalf of any retail client. It is not a broker-dealer nor is it affiliated with any broker dealer.
New York City Acquisition Fund
In 2006, Forsyth Street developed the capital structure and implemented the launch of the New York City Acquisition Fund (NYCAF), which it continues to manage to this day. NYCAF is an industry-leading public-private fund that leverages private debt with public and philanthropic investments.
NYCAF makes up to five-year bridge loans on unusually flexible terms to non-profit and M/WBE affordable and supportive housing developers in New York City, for acquisitions of vacant sites to build new affordable and supportive housing, or occupied properties at risk of losing affordability for existing tenants. NYCAF loans can also be used for predevelopment expenses, and moderate building improvements in preservation transactions.
The Fund has originated over $534 million in loans, resulting in the preservation or creation of over 14,200 units of housing. In 2008, the Fund was recognized as an Innovations in American Government Award winner by Harvard University’s Ash Center for Democratic Governance and Innovation.
Neighborhood Impact Investment Fund
Forsyth Street Asset Management serves as Fund Manager to the newly-created Baltimore Neighborhood Impact Investment Fund (NIIF), a new $65 million fund aimed at revitalizing Baltimore’s historically disinvested neighborhoods.
NIIF is an independent 501(c)(3) organization working in alignment with the City of Baltimore to promote community development and enhance inclusive economic growth in designated neighborhoods. NIIF’s eligible neighborhoods, which comprise approximately 65% of the City, have suffered from decades of population loss and a tragic legacy of segregation. NIIF represents a large scale, intentional effort to support inclusive and equitable development growth in these communities. NIIF seeks to provide patient, flexible capital to these communities in order to catalyze other investment, move transformative projects forward, support small business and build on the successes of core, existing assets.
New Generation Fund
In 2008, Forsyth Street designed, implemented, and continues to serve as Fund Manager for the New Generation Fund (NGF) in the City of Los Angeles. The fund was established to facilitate the development of affordable and supportive housing, improve community stability, support transit-oriented development, and enable the City of Los Angeles to preserve the affordability of expiring use properties.
Created through a partnership of the City of Los Angeles and a consortium of banks, financial institutions, and foundations and community development financial institutions, the $70 million fund leverages private capital with public and philanthropic investments. It makes three- to four-year bridge loans on flexible terms for vacant and occupied property acquisition, predevelopment costs, and moderate building improvements.
Since inception, NGF has originated over $185 million in loans, supporting the new production or preservation of over 2,800 affordable and supportive housing units.
Forsyth Street Renewables
Since 2010, Forsyth Street has served as an investor and managing member of utility scale renewable energy partnerships located throughout the United States. The developments have included both wind farms and solar installations.
Forsyth Street, together with our capital partner, created an innovative financing structure to allow municipal and non-profit clients (both utilities and institutions) to utilize federal resources and tax credits available to renewable energy developers.
By the end of 2021 we expect to have over 50 solar and wind sites in operation throughout the United States.
Bringing the right expertise to the job, while working from all over the continent