Annaly Cap Management, Capital Impact Partners Launch Second Social Impact Investing JV

   By Stephen Nakrosis

Annaly Capital Management, Inc. (NLY) and Capital Impact Partners on Wednesday launched a joint venture to support affordable housing and community development projects in Washington, D.C.

The $25 million JV is Annaly's second impact investing partnership since 2017 with Capital Impact, a non-profit community development financial institution.

The companies said the JV will offer direct funding to "socially responsible projects in low-income communities," and will also support affordable housing in the district.

"We are excited to announce our second social impact venture with Capital Impact Partners. Our commitment is aimed at improving economic opportunity while helping to preserve and protect affordable housing and foster education in Washington, D.C." said Kevin Keyes, chairman, chief executive and president of Annaly.

Annaly's initial partnership with Capital Impact in November 2017, supports community development projects across the U.S. in housing, education, health care, job training and healthy foods.,

Annaly is a real-estate investment trust that invests in and finances residential and commercial assets.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 16, 2019 18:04 ET (23:04 GMT)

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