Obsidian Opportunity Fund
Financial Services - Lake Oswego, OR, US
Obsidian Opportunity Fund Employees
Obsidian Opportunity Fund Senior Management
Obsidian Opportunity Fund Details
Obsidian Opportunity Fund manages invested funds in areas federally designated as "opportunity zones", a new community investment program established by Congress in the Tax Cuts and JobsAct of 2017 to encourage long-term investments in economically distressed communities. Recognizing that U.S. investors and companies are slow to reinvest billions of dollars heldas unrealized capital gains, in part due to the income taxes payable when capital assets are sold ortraded, in 2017 Congress created a mechanism to reduce this tax burden and encourage capitalgains to be reinvested to benefit underserved communities. The tax advantage is realized byinvestors who invest capital gains in an "opportunity fund" that is investing in "opportunity zones."Investors receive tax benefits that are similar to the benefits realized in a Section 1031 real estateexchange for all capital gains invested in this manner. Developers and communities get access tocapital not otherwise available.Opportunity zone projects are diverse and managing an opportunity fund can be complex.Each project requires local knowledge and expertise. Obsidian Opportunity Funds can customizeservices to each investor. For the largest and most complex projects where investors want tomaintain total fiduciary control, Obsidian Opportunity Funds will create the opportunity fund andprovide record keeping and other administrative services. For those investors simply looking toinvest capital gains and have their investment professionally managed, Obsidian Opportunity Funds will provide the full range of professional services, from fund formation, matching of investment to opportunity, and ongoing management.
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