Evernorth Funds

Our team has decades of experience in raising capital and financing affordable housing in partnership with community banks and large financial institutions. As a key link between the needs of developers and investors, our funds consistently meet or exceed target returns.


Evernorth raises equity from investors that can utilize federal Low Income Housing Tax Credits as well as various state, historic, and affordable housing credits to realize a return on their investment. We have more than 30 years of this syndication experience, deep knowledge of our local markets, and most importantly, long-lasting relationships with developers, investors, and industry professionals.

Types of Investments 

We know that investors have a variety of objectives and motivations, so we are flexible in terms of how investments are structured. In order to best meet the goals of our investors, we try to be flexible and have offered the following investing options:

Traditional multi-investor fund
The multi-investor fund offers investors a diversified investment in a variety of properties. The investor’s ownership percentage is relative to the number of other investors in the fund.

The proprietary fund
This type of fund is used when a single investor wishes to establish a fund with multiple properties. This platform can be more targeted, and is often preferred by investors contemplating a relatively significant investment amount.

The direct investment
A direct investment is when an investor takes an ownership percentage of a specific project and the balance of the investment is made by others, often a multi-investor fund. An investor could also be the sole investor in a property. Given that these investments are for specific properties, the risk profile is different than it is with the other investment choices.

In all cases, we provide the same syndication, fund management and asset management services.

Fund management

We focus on what investors need, whether it’s meeting CRA objectives, understanding expectations on returns, or delivering timely fund reports and analyses. Our team continuously reviews tax returns and audits for accuracy, staying up to date with tax laws and regulations.

Asset management

Our rigorous underwriting during the due diligence phase of development also sets us apart from other syndicators. After the transaction is closed and the property is leased, we dedicate significant resources to ongoing asset management and monitoring of operations, financial performance and compliance.

Properties that receive a Low Income Housing Tax Credit allocation must commit to at least 30 years of affordability and investors are subject to a 15-year holding period. That means that the tax credits that have been given to developers can be taken away or “re-captured” if the property fails to comply with regulations. Evernorth’s Asset Management team works closely with local partners, managing agents, and investors to continually monitor the performance  and compliance of our properties. The result has been that none of our properties have had tax credit recapture and successful operation through the 15-year holding period for all of our projects.

Our Investment Partners

Our investors share in the belief that the full yield of our investments is measured not only in the dollars they earn, but also in the lives they change.