Nelson Mullins represents West Potomac Capital in launching a social impact private investment fund
July 31, 2023
Nelson Mullins represented West Potomac Capital (WPC), which announced on July 27 its plans to launch a social impact private investment fund called WPC Financials Impact Fund I LP (Fund) in the second half of 2023.
Attorneys Neil Grayson, Robert Klingler and Tasia Stull composed the team assisting the client as financial institutions regulatory counsel. This engagement is part of the firm’s Social Impact and Minority-Owned Business practice focus. O’Melveny & Myers LLP is serving as lead private fund counsel.
The Fund aims to raise $250 million to invest in and alongside Minority Depository Institutions (MDIs) including U.S. Banks and Credit Unions; Women-Owned Depository Institutions (WDIs), U.S. Department of the Treasury certified Community Development Financial Institutions (CDFIs) including U.S. Banks, Credit Unions and Loan Funds; and Low-Income Designated Credit Unions (LICUs).
Trevor Montano, the founder of WPC and the former Chief Investment Officer at the U.S. Department of the Treasury, will lead the Fund.
In addition, WPC has a deposit placement strategy to assist corporations, financial institutions, philanthropic organizations, and others in placing deposits with mission-driven financial institutions. WPC intends to provide credit underwriting and monitoring as well as impact reporting on such deposits utilizing proprietary credit underwriting models and an impact management and measurement framework internally developed specifically for U.S.-based mission-driven financial institutions.
WPC is a Washington, D.C.-based alternative asset management firm. For more information, read the company press release.
About Nelson Mullins
Established in 1897, Nelson Mullins is an Am Law 100 firm of more than 1,000 attorneys, policy advisors and professionals with 33 offices in 17 states and Washington, D.C. For more information on the firm, go to www.nelsonmullins.com.
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