EJF Capital has closed its second opportunity zone investment fund, EJF OpZone Fund II, with approximately $167 million in investor subscriptions and commitments.
The fund received support from both new and existing EJF investors including high-net-worth individuals, registered investment advisers (RIAs), broker-dealers and a leading private bank.
The fund will build upon the investment strategy of EJF OpZone Fund I, which seeks to invest in ground-up multifamily housing and industrial development projects located in qualified opportunity zones as defined under the federal Tax Cut and Jobs Act of 2017.
“The successful closing of our second opportunity zone fund reflects the confidence placed in us by our investors, both existing and new, and is a testament to the resiliency of our asset classes, the strength of our investment platform, and the depth of our regulatory-driven focus and financial and real estate expertise,” said Neal Wilson, co-CEO of EJF. “W