Merchants Capital recently announced $1.08 billion in fund investments closed across the firm’s multi-investor, proprietary and state credit offerings for the year ended Dec. 31, 2024.
The firm’s capital raise, which has surpassed $2.1 billion since the platform launched in 2021, comprises $900 million in multi-investor offerings, $68.8 million in state credit syndications and $1.1 billion in proprietary fund investments.
In January 2025, the firm closed Merchants Capital Tax Credit Equity Fund 21, LLC, a $131.2 million multi-investor fund with eight bank investors. In September 2024, the firm closed Merchants Capital Tax Credit Equity Fund 19, L.P., its largest ever fund capital raise at $293 million with a large institutional investor.
“Successfully raising $1.08 billion in tax credit equity in one year is a remarkable achievement,” Executive Vice President Julie Sharp said. “In only four years, we have built a $2.1 billion investment portfolio managed on behalf of more than 40 institutional investors that provides capital for the construction and preservation of safe, quality affordable housing for more than 19,000 families in 26 states.”
“Our success is a testament to our team, the support of our investor and developer partners and the innovative platform we have built across all business lines at Merchants Capital,” Executive Vice President Linda Hill said.
“It has been extremely rewarding to build out an equity originations platform in a firm that offers industry-leading debt products and balance sheet solutions for affordable housing developers,” Executive Vice President of Acquisitions Josh Reed said. “We are grateful to our developer and investor partners, who make our success possible.”
“Our remarkable production results reflect strongly on the capabilities and investments we have made in our asset, fund and risk management team of professionals, who are steadfast in their dedication to our investor and developer partners,” Executive Vice President of Syndications and Tax Chris Messmann said.
To learn more about Merchants Capital and its services, visit merchantscapital.com.
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