The Mission Driven Bank Fund Names Performance Trust as Capital Markets Advisor and Structuring Agent to The Fund

Date:

Share post:

The Mission Driven Bank Fund and Performance Trust Capital Partners, LLC are pleased to jointly announce that they have entered into a partnership where Performance Trust will advise The Fund on its mission-driven bank capital investments as its Capital Markets and Structuring Agent advisor.

Paul Welch, Head of Private Equity at Elizabeth Park Capital Management and lead manager of The Fund manager said, “As a vehicle built from feedback from current FDIC-insured CDFIs and MDIs, the Fund wanted to partner with an active participant in our target universe. We believe that Performance Trust’s experience and resources will strengthen the capabilities of the Fund to bring tailored solutions to the mission-driven banks we seek to bolster.”

The Mission Driven Bank Fund, established by the FDIC, aims to foster a stronger and more inclusive banking system by investing in mission-driven banks to provide credit and financial services to underserved communities. By structuring capital opportunities, The Fund seeks to drive significant growth and financial resiliency in the mission-driven bank sector that translates into demonstrated progress in closing the racial income and wealth gap.

Chirag Shah, CEO of Performance Trust, expressed gratitude for the partnership with The Fund, stating, “For nearly 30 years, Performance Trust has been dedicated to helping financial institutions enhance long-term performance. Our unique approach has empowered CDFIs and MDIs to expand access to capital and strengthen financial resilience, contributing to the vitality of the communities they serve. We are excited to align with The Fund in our shared mission of promoting financial inclusion and to provide advisory support for their capital investments.”

Also Read: Securing the Future of Fintech: Strategies to Prevent Common Security Mistakes

Matt Shields, Head of FIG Capital Markets, and Lorenzo Zefferino, leader of the firm’s Northeast and Mid-Atlantic Territories for Investment Banking at Performance Trust, stated, “We are proud to partner with The Fund. Over the last four years, Performance Trust has raised over half a billion in capital for mission-focused financial institutions, witnessing the impact of underbanked communities. With the creation of The Fund at a time when regulators have announced a new set of CRA regulations which specifically rewards activity and collaboration with CDFIs, MDIs, and WOFIs, we are excited about what the future has in store for The Fund and the more than 300 FDIC-insured CDFIs and MDIs across the country. We will work hard in helping The Fund structure capital opportunities that present the potential for a win-win-win for all stakeholders: The Fund, CDFIs and MDIs, and the communities they serve and foster.”

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

BNP Paribas and Ant International Partner To Improve Cross-Border Payment Solutions In Europe

BNP Paribas, a bank in the European Union, has partnered with Ant International, a digital payments and financial...

Wirex And Visa Collaborate To Promote Use Of Digital Currencies In The UK And The European Economic Area (EEA)

Wirex, a Web3 money app, and Visa, a leader in digital payments, have announced a partnership to promote...

Transend Partners With Midland States Bank To Offer Innovative POS Solutions

Transend, a company that offers working capital solutions to businesses, has announced a new partnership with Midland States...

Three in ten adults have been a victim of financial fraud; spurring industry to continue investment to protect consumers

As fraud rates continue to rise, nearly all adults in the UK (94%) now say they are taking...