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Allivate Impact Capital
Building innovative capital solutions to elevate communities.

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Our Values

Making investments that count.

We are an impact investing firm that manages capital across asset classes in ways that are responsive to community needs. We operationalize impact goals in line with the following core values. The needs are too great to not act with the urgency and intentionality bringing new solutions to recurring problems.

Community Impact

Community Impact

We invest in communities and populations that have historically been underinvested. We believe these communities and populations have underutilized assets that with the right capital solutions can realize untapped potential.

Vision Centric

Vision Centric

We are intentional about engaging communities to understand their long-term vision and investing in a way that supports this vision.

Strategic Partnerships

Strategic Partnerships

We seek opportunities to combine tools from private, public, and nonprofit partners to yield results that would not be possible without such intentional collaboration.

Entrepreneur-focused

Entrepreneur-focused

We activate entrepreneurial ecosystems by bringing transparency to resources and capital.

Diversity

Diversity

As a female led firm with a diverse management team, we believe that diversity of perspectives leads to improved performance.

Positive Returns

Positive Returns

Our goal is to drive positive social impact and attractive risk-adjusted financial returns.

About Us

Allivate Impact Capital is a subsidiary of Woodforest Financial Group. Our industry leading team has been recognized globally for its impact investing track record.

Allivate's Team
Daniel Galindo in a conference
IA 50 2024 Emerging Impact Manager
IA 50

Allivate Impact Capital® has been selected as an Emerging Impact Manager (EIM) for the ImpactAssets 50™ 2024 (IA 50).

IA 50 2024 Emerging Impact Manager
BAI

Recipient of the 2020 BAI Global Innovation Award in Societal & Community Impact Innovation category.

Office of the Comptroller of the Currency

Highlighted by OCC for industry-leading Opportunity Zone investment strategy.

“We cannot solve our problems with the same level of thinking that created them.”

– Albert Einstein

Impact

Allivate Impact Capital utilizes the Opportunity Zone Impact Reporting Framework to operationalize the impact goals of our investments. The framework is designed around the following guiding principles:

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Noelle's Impact'

Community Engagement

We integrate the needs of local communities into the formation and implementation of funds, reaching low-income and underinvested communities with attention to diversity.

Equity

We seek to generate equitable community benefits, leverage other incentives and aim for responsible exits.

Transparency

As investors, we strive to be transparent and hold ourselves accountable, with processes and practices that remain fair and clear.

Measurement

We voluntarily monitor, measure and track progress against specific impact objectives, identifying key outcome measures and allowing for continuous improvement.

Outcomes

Our Opportunity Fund metrics track real change, with an understanding that both quantitative and qualitative measures are valuable indicators of progress.

Working with national and community partners and listening to residents in each unique community is key to our success. Join us to help elevate your neighborhood.

Join Us

CASE STUDIES

Investment Highlights

Bread of Life Permanent Supportive Housing Project (Knowles-Rowland House)

The creation of 31 new units of permanent supportive housing and social services for people experiencing chronic homelessness.

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Atrium Court Affordable and Workforce Housing Project

Atrium Court in Seattle's Othello neighborhood will create 271 units of affordable workforce housing, 80 jobs, and ground-level retail space adjacent to a light rail station in the historic and diverse South Seattle neighborhood.

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St. James Hotel Restoration

The St. James Hotel Restoration project in Selma, AL, converted a shuttered asset central to the rural community’s rich history into a 55-key, Hilton™-branded, quality hotel...

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Zero Energy North Avenue Mixed-Use

The Zero Energy North Avenue Mixed-Use project in Baltimore, MD, converted 7 abandoned rowhomes into 20 units of affordable housing and 4 retail storefronts in the predominantly Black Penn North neighborhood in West Baltimore...

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UNCP Student Housing

University of North Carolina Pembroke (UNCP) Student Housing project in Pembroke, NC built 138 units/498 beds of student housing adjacent to UNCP, a Native American founded university focused on serving low-income students...

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Sharswood Ridge

The Sharswood Ridge project is helping to revitalize the Sharswood neighborhood in Philadelphia by building approximately 234,000 square feet of affordable and workforce housing and retail development, including a grocery store, a bank branch, and an urgent care medical clinic, all of which the neighborhood desperately needs.

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Our Team Our Advisors Social Impact Advisory Board

We are experienced industry leaders with a track record in financial services and impact investing.

We are experienced industry leaders with a track record in financial services and impact investing.

The Social Impact Advisory Board for AIC CEI-Boulos Capital Management is comprised of leading national experts on investing in low- and moderate-income communities and the emerging field of Opportunity Zone impact investing, measurement, and reporting.

News & Stories

Learn more about what's happening with our work, community partners and within the impact investing industry.

IA 50 2025 Emerging Impact Manager

Allivate Impact Capital Named to IA 50 2025, the Definitive Guide to Impact Investing Fund Managers, as Market Proves Its Resilience

More than one-quarter of IA 50 2025 applicants were first-time entrants, underscoring the rapid expansion of the impact investing industry globally. THE WOODLANDS, TEXAS, March 11, 2025 -- Allivate Impact Capital® has been selected as an Emerging Impact Manager (EIM) for the ImpactAssets 50™ 2025 (IA 50). This is the firm’s second consecutive year receiving an IA50 designation. ImpactAssets, the impact investing leader with a 15-year track record of mobilizing capital for good, released the ImpactAssets 50™ (IA 50) 2025, the definitive guide to impact investment fund managers globally. This year’s IA 50 features 165 experienced and emerging impact investment fund managers, the highest number to date. Now in its 14th year, the IA 50 remains the most comprehensive resource for identifying best-in-class impact fund managers, offering investors a rigorously curated and publicly accessible database to explore the industry’s leaders across the full range of investment types. This year’s IA 50 highlights unabated momentum in impact investing: Application volume has grown 250% since 2020, and 28% of 2025 applicants had never applied before – both signals of rapid market expansion. Total assets under management (AUM) of IA 50 firms surged to $130.6 billion, representing a 35% year-over-year increase – driven by the inclusion of new, large impact managers, as well as the steady growth of established firms. Notably, this year’s Emerging Impact Manager (EIM) category witnesses a resurgence of infrastructure-focused managers with three such managers selected, signaling the highest-ever infrastructure focus on the EIM list. “As impact investing continues its march into the financial mainstream, the IA 50 has become a powerful barometer of industry maturation and the most respected recognition in our sector,” said Margret Trilli, CEO and Chief Investment Officer of ImpactAssets and an IA 50 Review Committee member. “The scale, growth and credibility of this year’s IA 50 managers demonstrate that impact investing is not only thriving, it is becoming an undeniable force in the market.” Market Signals: Key Trends from the IA 50 2025 All told, 50 impact investing fund managers were selected for this year’s core IA 50 list, 65 managers for the Emerging Impact Manager list, and 50 managers for the Emeritus list. The composition of the IA 50 2025 reveals key trends shaping impact investing today: Growing Manager AUMs: A total of 24 IA 50 managers have reached institutional scale, with $1 billion or more in AUM, a 33% increase over the two previous years. Financial Returns and Impact Work In Tandem: 46% of managers on the list target market-rate returns, while 28% pursue above-market returns. The core IA 50 list is predominantly market-rate (36%) and above-market (28%) managers. Social Impact Priorities: 50% of listed managers primarily focus on social themes such as financial inclusion and community development. Beneficiaries of Impact Capital: The majority of IA 50 managers focus on supporting small businesses, rural communities, low income and disadvantaged communities. Third-Party Impact Verification on the Rise: 28% of core IA 50 managers and 24% of Emeritus managers have impact reports verified by third-party assessors, marking a steady progression in impact transparency. “This year’s IA 50 showcases how impact investing is quickly coming of age – not only in scale and financial sophistication, but also in accountability and rigor,” said Jed Emerson, IA 50 Review Committee Chair. “The increasing prevalence of third-party impact verification, larger institutional-scale fund sizes and record-breaking newer entrants signal a maturing market that remains deeply committed to driving positive change.” The IA 50 Selection Process: Unmatched Rigor and Expert Review ImpactAssets employs a rigorous multi-stage process to select the IA 50, ensuring it remains the most credible and thoughtfully curated benchmark for impact investing excellence. Unlike lists based purely on AUM rankings or editorial selection, the IA 50 blends quantitative analysis with expert qualitative review to identify managers that are not only financially sound, but also deeply committed to measurable impact. IA 50 selections are made by the distinguished IA 50 Review Committee, composed of 16 of the most globally-recognized impact investing leaders and practitioners, ensuring that the IA 50 remains the industry’s most credible, thoughtfully curated benchmark for impact investing excellence. The review process includes a quantitative analysis, led by ImpactAssets Capital Partners, based on application information, impact reports and public disclosures. The IA 50 Review Committee makes the final selection, ensuring the analysis adheres to a structured framework of fairness and rigor. All firms included in the IA 50 have met strict criteria, including a track record in impact investing, clear social and environmental impact goals, and U.S. investor accessibility. “The IA 50 not only reflects where impact investing is today, but also provides a roadmap for its future,” said Rehana Nathoo, Founder and CEO at Spectrum Impact and an IA 50 Review Committee Member. “The rigorous selection process and expert review that define the IA 50 reinforce its position as the industry’s gold standard – giving investors confidence that the firms featured are at the forefront of driving meaningful impact.” About the ImpactAssets 50ImpactAssets 50™ (IA 50) is the definitive guide to impact investing fund managers globally. The publicly available database is composed of experienced and emerging private debt and equity impact investment fund managers committed to generating positive impact. The IA 50 2025 reflects the innovation and exponential growth of impact investing that the IA 50 has helped to spotlight over 14 years.The IA 50 is not an index or investable platform and does not constitute an offering or solicitation to buy or sell securities or a private placement or recommend specific products. Nor is this an endorsement of any of the listed fund managers. It is not a replacement for due diligence. Additional details on the selection process are available here. About ImpactAssetsImpactAssets is an impact investing leader dedicated to changing the trajectory of the planet’s future and improving the lives of all people. As a leading impact investing firm, ImpactAssets offers deep strategic expertise to help its clients define and execute on their impact goals. Founded in 2010, ImpactAssets increases flows of money to impact investing in partnership with its clients through its impact investment platform, philanthropic solutions and field-building initiatives, including the IA 50 database of private debt and equity impact fund managers. ImpactAssets has more than $3 billion in assets, working with purpose-driven individuals and their wealth managers, family offices, foundations and corporations. ImpactAssets is an independent 501(c)(3) organization. is an independent 501(c)(3) organization. About ImpactAssets Capital PartnersImpactAssets Capital Partners PB LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. ImpactAssets Capital Partners is a public-benefit LLC owned by ImpactAssets. ImpactAssets Capital Partners was created to bring the ImpactAssets platform and customized investment services to institutional investors such as family offices, foundations and corporations. Review the IA 50 2025 Impact Fund Managers: ImpactAssets 50™ (IA 50) 2025 Check out Allivate Impact Capital’s database profile: ImpactAssets 50: Allivate Impact Capital

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Allivate Impact Capital

March 11, 2025

Building

The Marcus Affordable And Workforce Housing Project To Bring 76 New Apartments To South Dallas

DALLAS - (January 28, 2024) - The AIC CEI-Boulos Opportunity Fund, a joint venture with Allivate Impact Capital®, a subsidiary of Woodforest Financial Group, Inc., and CEI-Boulos Capital Management, announced a majority equity investment in the Marcus Affordable and Workforce Housing Project, which will bring 76 units of affordable, transit-oriented and sustainability-focused housing to the underinvested, predominantly Black and historically redlined Cedars neighborhood in South Dallas. The urban infill project will provide much-needed, long-term affordable housing for the neighborhood. Through a Public Facilities Corporation (PFC) tax exemption agreement with the City of Dallas, 51% of the units will be formally rent-restricted and income-restricted for a period of 60 years to be affordable to renters earning 60% to 80% of the Area Median Income (AMI) or below. The remaining units will be rented as naturally occurring affordable housing but will not be formally restricted. 84% of households in the census tract where the development is located are occupied by renters, far surpassing the citywide average of 59%. Of these renters, 36% are “housing cost burdened,” meaning they spend more than 30% of their income on housing. 13% are “severely housing cost burdened,” meaning they spend over 50% of their income on housing. The census tract where the project is located is designated as an “Area of Economic Distress” by the U.S. Department of Treasury. The project will consist of a mix of 16 studios, 44 one-bedroom and 16 two-bedroom units, to serve the needs of a wide range of households with a focus on working-class individuals and families. The project is being developed by Savoy Equity Partners, a Dallas-based real estate development company that specializes in multi-family affordable and workforce development throughout Texas. Savoy has developed 22 properties totaling 934 units and currently has seven properties under development totaling 828 units. Of these 29 projects, 27 are in the City of Dallas, demonstrating the firm’s deep commitment to and expertise in the Dallas market. The Marcus will build on Savoy’s track record in completing community-minded affordable and workforce housing projects with the goal of contributing to the revitalization of the area. Noelle St. Clair Lentz, CEO and Managing Director of Allivate Impact Capital®, said, “The housing affordability crisis continues to plague low-income families and workers in South Dallas. Thank you, Savoy Equity Partners, CEI-Boulos Capital Management, and the City of Dallas for collaborating with our team to create these 76 affordable housing units to help revitalize the community, open access to transportation and jobs, and provide accessible and affordable housing for individuals and families.” “CEI-Boulos Capital Management is dedicated to working with local communities to revitalize neighborhoods that have been overlooked or underinvested by supporting impactful developments like the Marcus Affordable and Workforce Housing Project,” added Sam Spencer, CEO and Managing Director of CEI-Boulos Capital Management. “The AIC CEI-Boulos Opportunity Fund is proud to be partnering with Savoy Equity Partners to help bring much needed transit-oriented long-term affordable housing to the Cedars neighborhood.” Barrett Linburg, a partner and co-founder of Savoy Equity Partners, shared: “The Marcus marks Savoy’s first development in the Cedars neighborhood, and it won't be our last. We’ve seen firsthand through our Bishop Ridge portfolio how concentrating multiple high-quality developments within one neighborhood can create meaningful positive change. By bringing that same proven approach to the Cedars, starting with the Marcus, we're demonstrating our long-term commitment to this historic neighborhood. Our partnership with the City of Dallas through the PFC structure allows us to preserve affordability while delivering the kind of thoughtful, sustainable development that can catalyze neighborhood revitalization.” The project will focus on environmental sustainability and will meet National Green Building Standard (NGBS) certification. The project is transit-oriented with the site located within a 3–15-minute walk of multiple public transit options managed by the Dallas Area Rapid Transit, including bus, light rail and the Dallas Streetcar system that connects with Downtown Dallas. These transit options will provide residents of the Marcus access to eco-friendly commuting with frequent service to all of Dallas’s major neighborhoods, employers, cultural institutions, healthcare facilities and educational institutions. The four-story, garden style project will replace a largely vacant lot that includes a blighted 1.5K square foot graffitied structure, which represents an ongoing liability to the neighborhood. Savoy further plans to upgrade sidewalks from non-existent or derelict conditions to 10-foot-wide pathways, surpassing the city-standard 6-foot sidewalks. These upgrades will greatly improve pedestrian safety and accessibility for residents. The project is aligned with various community and economic development plans and initiatives of the City of Dallas and will contribute to the City of Dallas’s goal to revitalize the Cedars neighborhood in a manner that promotes sustainable, transit-oriented and equitable growth.

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Allivate Impact Capital

January 27, 2025

OZ Podcast Noelle Taller

Impact Investing In Opportunity Zones, With Noelle St.Clair Lentz

Opportunity Zones aren’t just about tax benefits. They’re about creating a better future, both for investors and communities. Noelle St.Clair Lentz, CEO at Allivate Impact Capital, joins the show to discuss how Allivate is driving innovative investments that elevate communities and foster entrepreneurship. Watch On YouTube Watch Preview Episode Highlights How Allivate Impact Capital is focused on alleviating poverty, elevating communities, and activating entrepreneurial ecosystems through their Opportunity Zone investments. How Allivate is able to drive investment into Opportunity Zones without displacing current residents. The importance of combining financial returns with measurable community outcomes, emphasizing sustainable and equitable development. Specific examples of Allivate’s OZ projects showcasing real-world impact. How collaboration with various stakeholders, including local governments, entrepreneurs, and community organizations, help maximize the impact of Opportunity Zone investments. Guest: Noelle St.Clair Lentz, Allivate Impact Capital Noelle St.Clair Lentz on LinkedIn Allivate Impact Capital website Allivate Impact Capital on LinkedIn Featured On This Episode CEI Boulos Capital Management OZ Framework OZ Podcast episode featuring OZ Framework (2019) Project Equity --> About The Opportunity Zones Podcast Hosted by OpportunityDb.com founder Jimmy Atkinson, The Opportunity Zones Podcast features guest interviews from fund managers, advisors, policymakers, tax professionals, and other foremost experts in the Opportunity Zones industry.

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Jimmy Atkinson

January 17, 2025

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