Manny Friedman – EJF on Economic Opportunity Zones (EP.91)
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.7 • 841 Ratings
🗓️ 18 March 2019
⏱️ 45 minutes
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Summary
Manny Friedman is the founder of EJF Capital. Manny discussed his background and his nuanced take on markets last July in Episode 61 of the podcast. In that conversation, he mentioned a new regulation in the U.S. that created an area of investing called Economic Opportunity Zones. I started learning about Economic Opportunity Zones from Manny and dove in for my day job. Since then, more and more eyes are viewing investments in Opportunity Zones, and I asked Manny to sit down with me to share his perspective.
Our conversation covers the governments broad, bipartisan effort to reallocate capital to underinvested areas of the country, how tax incentives will potentially unlock trillions of dollars of unrealized capital gains, the future attraction of Economic Opportunity Zones to nontaxable and ESG investors, the ways in which the program could fall short of its lofty goals, and specific examples of how a virtuous circle can get created and make a meaningful dent in the economic divide in the United States
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Transcript
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| 0:00.0 | Capital Allocators is brought to you by Ten East, an investment platform for sophisticated investors to access private markets. |
| 0:10.5 | Ten East brings benefits of having your own family office without the cost and headaches of doing so. |
| 0:16.8 | It's founded and led by Michael LaFelle, former deputy executive managing member of Davidson Kempner. |
| 0:24.2 | Michael and his investment team offer members the opportunity to co-invest by offering at their |
| 0:29.1 | discretion. Michael and his team source, diligence, and commit material personal capital to each |
| 0:35.3 | investment. The opportunities shared on the Ten East platform |
| 0:38.9 | offer exposure to private credit, real estate, niche venture and private equity, and other |
| 0:44.5 | idiosyncratic investments that typically aren't available through traditional channels. |
| 0:49.2 | The principles have over a decade track record of investing in these types of exposures |
| 0:53.5 | across more than 350 |
| 0:55.7 | transactions. Post-investment, the Tennis team conducts ongoing monitoring and reporting, |
| 1:01.8 | just as you'd expect from an institutional investment organization. I've known Michael for about a |
| 1:07.0 | decade, and after becoming impressed by the quality of 10 East offerings, its research |
| 1:11.6 | process, and high-quality investment team, I became an advisor to the organization, an investor |
| 1:17.1 | in multiple offerings. You can learn more and join me as a member at 10-east.com. That's the number 10, |
| 1:25.4 | east.co.O. |
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