PGLRE #60: Open Access to the World of Community Development Finance with Gina Nisbeth
Episode Description
On episode 60 of Pretty Girls Love Real Estate, I chat with Gina Nisbeth, Co-Founder of Open Access, a fellowship program for minorities interested in transitioning to a career in community development finance. She is also the Founder of 9th & Clinton, a strategic consulting firm aiming to help minority-controlled developers, fund managers, CDFIs, and other organizations expand their offerings to be more competitive in the marketplace.
During our conversation we discuss:
- What are New Markets Tax Credits and how they are a powerful tool to create much needed resources and jobs in underserved communities
- The genesis of the Open Access program and the impact it has had on the community development finance industry to date in its third year
- Initiatives she is working on with her consulting firm, 9th & Clinton
- Other organizations she is part of to help encourage more women and minorities to participate in angel investing
Real Estate Professional Bio for Gina Nisbeth
Gina has spent over 25 years in structured finance with a leading Wall Street firm in New York City. She retired from Citi after serving as the firm’s inaugural Executive in Residence with a minority deposit institution (MDI), where she established that firm’s community development finance platform.
Previously, as a Director in Citi Community Capital, Gina managed Citi’s $1 billion New Markets Tax Credits and its $800 million community development-focused private equity investments including pipeline origination, transaction structuring and portfolio management.
Gina began her career on the trading floor with Smith Barney. There she traded municipal bond derivatives to money market funds for 10 years, growing the platform to $43 billion- the largest in the industry.
Gina is also the co-founder of Open Access, a fully funded, national fellowship program that seeks to increase the representation of Black and Latinx professionals in community development finance.
Following the events of 2020, Gina was tapped to deploy $200 million of private equity capital with Black fund managers and $50 million of loan participation opportunities with minority-owned banks for affordable housing preservation and development as part of Citi’s $1 billion commitment to racial equity.
Guest’s Resource Recommendation
The Color of Law by Richard Rothstein
Contact information for episode guest Gina Nisbeth:
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