At MMA Capital Management, we use our experience and expertise to partner with institutional capital to create attractive and impactful alternative investment opportunities, to manage them well and to report on them effectively. We operate through two reportable segments: US Operations (which currently includes our corporate operations) and International Operations. The Company anticipates that in 2015 it will operate through three reportable segments: US Operations, International Operations, and Corporate.
Our US Operations consist of three business lines: Leveraged Bonds, Low-Income Housing Tax Credits (“LIHTC”), and Other Investments and Obligations. The Leveraged Bonds business line finances affordable housing and infrastructure in the US. Our LIHTC business currently consists primarily of secured loans from Morrison Grove Management, LLC (“MGM”) and an option to purchase MGM in 2019 with its potential for long-term upside. The Other Investment and Obligations business line includes legacy assets and serves as our research and development unit for new business opportunities in the US.
We manage our International Operations through International Housing Solutions (“IHS”) where our strategy is to raise, invest in, and manage private real estate funds. IHS currently manages three funds: the South Africa Workforce Housing Fund, which is a multi-investor fund and is fully invested; IHS Residential Partners I, which is a single-investor fund targeted at the emerging middle class in South Africa; and IHS Fund II, which is a multi-investor fund targeting investments in green affordable housing in South and Sub-Saharan Africa. To learn more about IHS, go to www.ihsinvestments.co.za.
Finally, our Corporate segment is responsible for accounting, reporting, compliance and planning which are fundamental to our success as a global fund manager and publicly traded company in the United States.
For our entire business, the key to our success is our commitment to performance built on our core values of Integrity, Innovation and Service.
The common shares of MMA Capital Management are traded on the NASDAQ Capital Market under the ticker symbol MMAC. For additional information about the NASDAQ Capital Market please visit www.nasdaq.com.