ImpactAlpha, January 13 — Black-run investment firm Lafayette Square invests in “communities that have been traditionally neglected by fiscal and monetary policy, not only to drive short-term recovery but also to achieve real, measurable change for decades to come,” said founder Damien Dwin.
Morgan Stanley backed the New York-based firm, which will focus on opportunities to preserve affordable housing, provide basic services and invest in local small businesses in underserved communities. It will also take stakes in diverse investment managers.
Lafayette cut its first check in November, backing housing tech venture Factory_OS. Morgan Stanley last week invested $100 million in National Equity Fund to preserve affordable housing along Atlanta’s mass transit routes (see, “Morgan Stanley backs Atlanta affordable housing fund”).