Forsyth Street is an independent investment adviser with expertise in the US Municipal debt market and public-private and nonprofit partnerships designed to achieve specific impact or policy objectives. Our core strategies include opportunistic investing in the municipal sector, investing in municipal securities that provide demonstrable positive social and/or environmental impact, and bringing public-private-philanthropic capital to bear on specific impact or policy objectives via structured investment vehicles. Across all of our investment strategies, we seek to provide attractive risk-adjusted returns for investors.
Our clients are varied and include private partnerships, high net worth individuals, family offices, commercial banks, investment banks, insurance companies, foundations, and non-profits. For our impact-oriented funds, we work across a broad range of impact areas, including affordable housing, service enriched supportive housing, community facility development, clean and renewable energy, energy efficiency, healthcare, charter schools and education, microfinance, urban redevelopment, neighborhood stabilization, and blight mitigation.
Selected Strategies
Municipal Opportunities
Forsyth Street seeks opportunistic investments across the spectrum of the US Municipal market, including general obligation, essential service, and project finance debt with a focus on municipal debt that has been used to finance, and/or is secured by, real assets. Our opportunistic strategy focuses on securities we feel are fundamentally undervalued due to complexity in credit or structure, or where past financial performance does not reflect true value. We look for both performing and stressed/distressed situations that we feel are fundamentally undervalued and offer significant upside and attractive risk/reward characteristics. Forsyth Street’s investment approach is a value-oriented, ground up credit assessment that seeks to identify fundamental drivers of value and cash flow and model variables that affect ultimate performance.
New York City Acquisition Fund
Forsyth Street developed and manages the New York City Acquisition Fund, an industry-leading debt fund that leverages public and foundation capital to provide below-market loans for property acquisition, light- to moderate-rehabilitation, and predevelopment to developers of affordable housing in New York City. The Fund has provided approximately $240 million of capital, resulting in the preservation or creation of over 6,400 units of housing. In 2008, the Fund was recognized as an Innovations in American Government Award winner by Harvard University’s Ash Center for Democratic Governance and Innovation
www.nycacquisitionfund.com
Renewable Energy Partnerships
Forsyth Street is the managing member of four utility scale renewable energy partnerships located in the western United States. The developments include two wind farms and two solar installations, and together have an installed capacity of 228 megawatts. Forsyth Street, together with our capital partner, created an innovative financing structure to allow municipal clients (both utilities and institutions) to utilize federal resources available for renewable energy developers.