Why Investment Professionals Should Attend

By Andrew Wetzel, CFA

Member of CFA Society Boston's Sustainable Investing Initiative Working Group


Partnering with leading investors, consultants, and government and community leaders, CFA Society Boston’s Sustainable Investing Initiative Working Group will offer a special event focused on “Opportunity Zone” investing. Bringing together key stakeholder groups at one event will help attendees build a framework for navigating a complex program and diverse set of investment options. The OZ program provides a tremendous opportunity to help under-served communities across the U.S. and offers an opening for taxable investors to capture tax-advantaged returns. With opportunity comes risk:
  • The risk of a flood of capital moving into targeted areas leading to lower-than-expected financial returns
  • The risk of less-than-thoughtful development leaving communities worse off in the long run
Well-understood tax incentives built into the OZ program have caused interest in this area to explode. Many of the funds available to investors are labeled as impact investments, yet fund sponsors find little incentive to create community ties that will lead to optimal financial and social returns. Our goal with this event is to take a holistic approach that captures key financial and social risk and return considerations in an effort to improve the likelihood of success for both investors and the communities in which they invest.

Steven Kennedy, Partner with PWC — An Overview of the Opportunity Zone Program
  • Steve will outline key program structural elements investors need to evaluate fund options and discuss investment vehicles with their clients
Elise Liberto, Analyst with Brown Advisory – The Fund Sponsor Perspective
  • Elise will discuss Brown Advisory’s research in the OZ space and its ultimate decision to partner with Ross Baird and Blueprint Local
Jay Ash, CEO of Massachusetts Competitive Partnership, Mike Kennealy, Massachusetts Secretary of Housing and Economic Development, Matt Camp, CEO of ICIC, and Marcos Marrero, Director of Planning & Economic Development from Holyoke, MA – Morning Panel
  • A true program highlight, this panel conversation with government, community and business leaders will allow attendees to:
  1. Learn about the economic development of under-served communities in the Commonwealth
  2. Gain important perspective on key factors that will help investors thoughtfully navigate long-term capital allocation in these communities.
Lauren Hult, Principal at The Bridgespan Group, an impact consultancy — Summary and Wrap-Up
  • To add value beyond simple after-tax return considerations, Bridgespan will tie program learnings together and help attendees weave together the different stakeholder perspectives to build a framework for Opportunity Zone investing

We hope to see you on June 24.

Municipal and Community Leaders: For information, email Caitlin Goudreau