Equalize Capital
Equalize Capital is an SEC-registered asset manager that runs two community-development investment funds — EQCDX (SBA 504 First Lien, USDA, and BIA loans) and AHOMe (ITIN residential mortgages) — serving banks, credit unions, and ESG investors seeking CRA-qualified exposure.
- Company typePrivate
- Founded2013
- HeadquartersSan Juan, Puerto Rico
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Equalize Capital does
Equalize Capital, LLC is a privately held, SEC-registered asset management company headquartered in San Juan, Puerto Rico, with a satellite office in Wayne, Pennsylvania. Founded in 2013 and affiliated with Alden Investment Group, the firm specializes in community development and underserved-market fixed-income investment strategies, managing two distinct funds: the Equalize Community Development Fund (EQCDX), a non-diversified closed-end interval fund registered under the 1940 Act that invests primarily in U.S. Small Business Administration (SBA) 504 First Lien Loans, USDA Rural Development loans, and Bureau of Indian Affairs loans; and the American Home Opportunities Mortgage Fund (AHOMe), a private fund that originates and purchases Individual Taxpayer Identification Number (ITIN) residential mortgages for borrowers without Social Security numbers. The firm's core product positioning is built around CRA (Community Reinvestment Act) eligibility, providing banks, credit unions, and ESG-focused institutional investors with regulatory-qualified investment vehicles, and the funds report strong credit metrics including cumulative 504 loan net charge-offs below 1.0% since 2015 and at or below 0.2% since 2018. Equalize Capital operates a subscription-based, fee-driven revenue model charging a 1.50% management fee on assets under management, with a $10,000 minimum investment, quarterly repurchase offers of up to 5% of fund shares, and a contractual fee waiver that caps net fund expenses at 3.50% through at least October 2026; the firm targets $500M in aggregate fund subscriptions and distributes the funds through direct institutional sales supplemented by affiliated J. Alden Associates. Go-to-market is consultative and direct, focused on financial institutions seeking CRA credit, ESG impact mandates, and exposure to SBA, USDA, and ITIN-loan asset classes not readily accessible through conventional fixed-income products.
Equalize Capital firmographics
Firmographics- Name
- Equalize Capital
- Legal name
- Equalize Capital, LLC
- Website
- https://equalizecapital.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Equalize Capital is an SEC-registered asset manager that runs two community-development investment funds — EQCDX (SBA 504 First Lien, USDA, and BIA loans) and AHOMe (ITIN residential mortgages) — serving banks, credit unions, and ESG investors seeking CRA-qualified exposure.
- Ownership category
- akta.pro rank
Equalize Capital industry classification
Industry- Product category
- Community Development Asset Management
- NAICS
- Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599)
- SIC
- Investment Advice (6282), Finance Services (6199), Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Community Development & Affordable Housing Funds (FSANAJAK)
- akta.pro secondary industries
- Impact Investment & Development Investment Funds (BPADACAO), Development Finance, Guarantees & Blended Finance Programs (BPADABAM)
Keywords
Where Equalize Capital is headquartered
LocationHeadquarters
- HQ city
- San Juan
- HQ country
- Puerto Rico
- HQ region
- Latin America
Offices2 records
Markets served
Equalize Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Management Fees: The firm charges a 1.50% management fee on assets under management. Total gross fees are 4.08% with net fees of 4.04% after contractual waivers. Fee waiver agreement in place until at least October 31, 2026 to cap total expenses at 3.50%.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Management Fee: 1.50% of assets under management |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Equalize Capital product offering
Product offeringCore offering
Equalize Capital is an SEC-registered asset management company that establishes and manages investment funds targeting underserved and underbanked U.S. small businesses and residential borrowers. Its core products are the Equalize Community Development Fund (EQCDX), a closed-end interval fund investing in SBA 504 First Lien Loans, USDA Rural Development loans, and Bureau of Indian Affairs loans, and the American Home Opportunities Mortgage Fund (AHOMe), a private fund that purchases ITIN residential mortgages for borrowers without Social Security numbers. Both funds are structured to deliver Community Reinvestment Act (CRA) credit opportunities to institutional investors such as banks, credit unions, and ESG-focused investors.
Product overview
Equalize Capital offers two distinct investment fund products: the Equalize Community Development Fund (EQCDX), a closed-end interval fund registered under the 1940 Act that focuses on SBA 504 First Lien Loans for underserved small businesses, and the American Home Opportunities Mortgage Fund (AHOMe), a private fund that invests in ITIN residential mortgages for underbanked borrowers. Both funds are designed to provide CRA (Community Reinvestment Act) credit opportunities for institutional investors including banks, credit unions, and ESG investors.
Differentiator
Problem solved
Functional benefit
Brands
- AHOMe (American Home Opportunities Mortgage Fund): A fund designed for institutional investors seeking attractive yields from a portfolio of residential mortgage loans made to underbanked borrowers through ITIN loans.
- EQCDX (Equalize Community Development Fund)
Products and services
- Equalize Community Development Fund (EQCDX) A non-diversified, closed-end interval fund registered under the 1940 Act that invests primarily in U.S. Small Business Administration (SBA) 504 First Lien Loans, with additional participations in USDA Rural Development loans and Bureau of Indian Affairs loans. It is designed for institutional investors such as banks, credit unions, and ESG investors to claim favorable regulatory consideration under the Community Reinvestment Act (CRA) through investment or lending test credit, while targeting attractive dividend yields and quarterly liquidity.
- American Home Opportunities Mortgage Fund (AHOMe)
Quantifiable outcome
- Cumulative net charge-offs on 504 loans remain below 1.0% for all fiscal years since 2015, and at 0.2% or below for every fiscal year since 2018
- +1 more outcomes
Companies that use Equalize Capital
Customer profileNamed customers1 record
Segments5 records
Ideal customer profiles3 records
Equalize Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Equalize Capital partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- UMB Financial CorporationcoreUMB Fund Services serves as Fund Administrator, providing fund accounting, administration, fund tax, investor services, transfer agency, custody and distribution services for the mutual funds.
- Tait, Weller & Baker LLPcoreProvides auditing services for regulated investment companies and mutual funds, with extensive experience in the investment management industry including mutual fund audits.
- Godfrey & KahncoreFund law firm providing legal counsel on investment management matters, representing registered investment advisers, mutual funds, closed-end funds, and other investment vehicles.
- Oyster ConsultingminorProvides consulting outsourcing and compliance services to financial services firms, with experienced industry practitioners.
- J. Alden Associates, Inc.coreAffiliate of Equalize Capital LLC serving as the Fund Distributor for the Equalize Community Development Fund.
- Bluestone Capital PartnersminorTook over as Investment Adviser to the Fund in 2019. Fund name changed from Bluestone Community Development Fund to Equalize Community Development Fund effective February 18, 2022.
- Alden Investment GroupcoreEqualize has an affiliation with Alden Investment Group, which consists of registered investment advisor and broker/dealer entities. Alden provides equity research services focused on the banking industry and macroeconomic research, as well as a sales force focused on providing benefit solutions to banking companies.
Scale indicators7 records
Recent moves9 records
Expansion highlights5 records
Equalize Capital competitors and assessment
Company assessmentBroad incumbents
- Citi Community Capital: Incumbent bank-affordable housing and community development lending arm of a global bank that originates and invests in CRA-qualifying loans. Overlaps with Equalize's CRA focus but at significantly greater scale and as part of a diversified balance sheet.
- Bank of America Community Development Banking: Large incumbent bank's community development lending and investing group serving CRA needs of institutional clients. Adjacent competitor to Equalize's CRA strategy with much broader product portfolio and balance sheet.
Direct peers
- Calvert Impact Capital: Impact-focused investment manager offering community investment notes and funds that finance CDFIs and community development loans. Comparable to Equalize in mission, institutional impact-investor base, and CRA/ESG positioning.
- Impact Community Capital: Mission-driven fund manager building CRA-eligible investment vehicles that purchase community development loans for institutional investors. Directly comparable to EQCDX in product structure and CRA-driven institutional distribution.
- Reinvestment Fund: Community development financial institution deploying capital into housing, small business and community facility loans in underserved markets, often with CRA-qualified investors. Closely comparable to Equalize's community-development loan origination and impact mandate.
- Community Capital Management: Fixed-income asset manager whose flagship CRA-aligned mutual funds (e.g., the CRA Qualified Investment Fund) invest in community development loans for banks and credit unions. Directly comparable to Equalize's EQCDX in product, customer base and CRA-driven GTM.
Emerging players
- Local Initiatives Support Corporation (LISC): National CDFI channeling institutional capital into community development loans and projects. Comparable mission and investor base, though LISC is a non-profit intermediary rather than a SEC-registered fund manager.
- Hope Credit Union / Hope Enterprise Corporation: Community development financial institution providing loans, capital and financial services in underserved Deep South markets. Mission and borrower overlap with Equalize, but operates as a CDFI credit union rather than an investment fund manager.
- Coastal Enterprises, Inc. (CEI): CDFI providing financing to small businesses and underserved communities, including SBA loan participation programs. Overlaps with Equalize's SBA 504 / community development small business focus, though structured as a CDFI rather than a registered fund manager.
- Primary Residential Mortgage (PRMI): Independent mortgage lender with an established ITIN loan program serving borrowers without Social Security numbers. Comparable to the originator-side operations underlying Equalize's AHOMe fund.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Equalize Capital social profiles
Digital presenceEqualize Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Equalize Capital leadership team
Management profileNumber of profiles
Profiles11 records
Equalize Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Equalize Capital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Equalize Capital
What does Equalize Capital do?
Equalize Capital is an SEC-registered asset management company that establishes and manages investment funds targeting underserved and underbanked U.S. small businesses and residential borrowers. Its core products are the Equalize Community Development Fund (EQCDX), a closed-end interval fund investing in SBA 504 First Lien Loans, USDA Rural Development loans, and Bureau of Indian Affairs loans, and the American Home Opportunities Mortgage Fund (AHOMe), a private fund that purchases ITIN residential mortgages for borrowers without Social Security numbers. Both funds are structured to deliver Community Reinvestment Act (CRA) credit opportunities to institutional investors such as banks, credit unions, and ESG-focused investors.
Is Equalize Capital a public or private company?
Equalize Capital is a private company. It is classified as corporate owned and is currently operating.
When was Equalize Capital founded?
Equalize Capital was founded in 2013. It employs 1 to 10 people.
Where is Equalize Capital based?
Equalize Capital is headquartered in San Juan, Puerto Rico, in the Latin America region.
How does Equalize Capital make money?
One revenue line is on record: management Fees.
Who are Equalize Capital's main competitors?
Broad incumbents on record are Citi Community Capital and Bank of America Community Development Banking. Direct peers are Calvert Impact Capital, Impact Community Capital, Reinvestment Fund and Community Capital Management. Emerging players are Local Initiatives Support Corporation (LISC), Hope Credit Union / Hope Enterprise Corporation, Coastal Enterprises, Inc. (CEI) and Primary Residential Mortgage (PRMI).
Does Equalize Capital have an API?
No public API is recorded for Equalize Capital.
What industry is Equalize Capital in?
Equalize Capital's product category is Community Development Asset Management. Its primary akta.pro industry code is FSANAJAK, Community Development & Affordable Housing Funds, with a secondary code of BPADACAO, Impact Investment & Development Investment Funds. Its NAICS code is 5259 and its SIC code is 6282.