CHICAGO, April 8, 2019 /PRNewswire/ -- National Equity Fund, a leading syndicator of the low-income housing tax credits (LIHTC) program, today announced the appointment of Matthew Reilein as president and CEO, effective June 1, 2019. Reilein will oversee all day-to-day operations of the Chicago-based nonprofit, including the effective implementation of all policies and programs. Reilein will succeed Joseph S. Hagan who is retiring after 19 years with the organization.
"Reilein brings a wealth of experience in community finance, development and impact investing having spent more than 15 years building relationships and leading teams to deliver market-driven capital to low-income communities," said Edward Sigler, National Equity Fund's chairman of the board. Sigler led an executive search committee that partnered with Korn Ferry on a national search that began with a pool of more than 150 candidates. "Matt's credentials, energy, and mission-centric focus convinced us that he is the right person to build upon Joe Hagan's tenure of leadership and success at National Equity Fund."
Reilein joins National Equity Fund from Cresset Partners where he served as managing director and partner overseeing community development and part of the Opportunity Zone team. Prior to that role, Reilein has held additional positions of leadership including managing director and head of Impact Investing at O'Brien-Staley Partners and managing director, community development banking with JP Morgan Chase leading New Markets Tax Credit and intermediary lending with community development banking.
"I am honored and humbled by the opportunity to help build upon National Equity Fund's legacy of leadership in affordable housing," said Reilein. "I look forward to getting to work with the National Equity Fund and Local Initiatives Support Corporation (LISC) teams in the creation of affordable housing for diverse populations across our country and making a positive impact on hundreds of thousands of lives."
Reilein has developed a reputation as a leader within the industry, and currently serves as the chair of the board of directors of Chicago Community Loan Fund. He previously served on the executive committee of the New Markets Tax Credit Coalition and has been frequently involved with the Community Development Financial Institutions Fund (CDFI Fund) at the US Department of the Treasury on market dynamics.
Reilein holds a Master of Business Administration degree in finance & marketing from Northwestern University's Kellogg School of Management and a bachelor's degree in international politics from Georgetown University. He serves on the Board of Governors of Georgetown University, the Metropolitan Planning Council and Timeline Theater. He has been recognized for his leadership numerous times and was highlighted in the Crain's Chicago Business "40 under 40" feature in 2013.
About National Equity Fund, Inc.
Chicago-based nonprofit, National Equity Fund, Inc., is a leading syndicator of low-income housing tax credits (LIHTC) and an affiliate of the Local Initiatives Support Corporation. NEF has played an integral role in creating affordable housing options, revitalizing communities and strengthening local economies for more than 30 years. Through its partnerships with developers and investors, it has invested $15.3 billion in 2,687 LIHTC developments, creating 176,804 affordable homes for low-income individuals and families as well as 215,701 jobs nationwide. For more information, go to www.nefinc.org.
Sue Ann Reed
National Equity Fund, Inc.
SOURCE National Equity Fund