GTIS Partners, a real assets investment firm, has raised $630 million for its GTIS Qualified Opportunity Zone Fund I.
The fund is made up of over 1,600 individuals from 100 RIAs in addition to family offices. The program was developed in conjunction with the 2017 Tax Cuts and Job Act intended to spur investment and development in underserved communities through Qualified Opportunity Zone funds and tax incentives.
The firm has a comprehensive ESG policy with principles dedicated to community engagement, public amenities, residential development, and investment in schools and renewable energy sources. The firm has already invested in 14 QOZ projects with seven projects stemming from the QOZ Fund totaling $400 million of equity capital commitments.
“Our investment strategy thus far has focused on QOZs that we believe will experience significant positive transformation over the next ten years and where our investments will make a strong contribution to that transformation,” commented president and CIO at GTIS, Tom Shapiro. “As we deploy the Fund’s remaining capital, we will continue to execute on that strategy, leveraging the attractive opportunities in our pipeline to enhance the Fund’s already strong asset mix and diversification.”