In investments to anchor their emerging Opportunity Zone Funds, after these managers have agreed to a level of transparency, accountability, and disclosure thus far unheard of in the Opportunity Zones space. Based Community Capital Management will each receive a guarantee from Kresge that provides risk mitigation and first-loss protection to their Opportunity Zone Funds. In the absence of a regulatory mandate, Arctaris and CCM have committed to making investments that reflect the stated social and community goals of the Opportunity Zones program and address unmet needs in under-resourced communities. Both Arctaris Impact and Community Capital Management were selected from a pool of more than 140 proposals that were submitted through a call for letters of inquiry in 2018 from Kresge in partnership with the Rockefeller Foundation. “The level of transparency and reporting Arctaris and CCM have agreed to have set the standard for what investors should ask for before committing dollars to Opportunity Zone Funds,” said Kimberlee Cornett. Leveraging the Kresge guarantee, Arctaris plans to launch a principal-protected Opportunity Zone fund with more than $500 million. “In some target cities, most local businesses have already fled. This Fund seeks to provide capital and incentives to bring them back – accelerating the growth of existing businesses and attracting companies from elsewhere to set up new offices or build factories. The Opportunity Zones legislation has encouraged Arctaris – and hopefully other investment managers – to use Wall Street’s tool box for the common good as funds are formed with community impact at their core.”