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Investment intermediaries in economic development: Linking public pension funds to urban revitalization


  • Hagerman, Lisa A.
  • Clark, Gordon L.
  • Hebb, Tessa


It is difficult for large investors, such as pension funds, to make investments in EDMs because they must make very large investments. The investments in communities of need, however, are usually small. The most successful strategy to overcome these two problems is for investors to work in concert with intermediaries that can aggregate the investments and community partners that understand both the need of communities and know how to tell “the story” to investors.

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  • Hagerman, Lisa A. & Clark, Gordon L. & Hebb, Tessa, 2007. "Investment intermediaries in economic development: Linking public pension funds to urban revitalization," Community Development Investment Review, Federal Reserve Bank of San Francisco, issue 1, pages 45-65.
  • Handle: RePEc:fip:fedfcr:y:2007:p:45-65:n:v.3no.1

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    References listed on IDEAS

    1. Miriam Wasserman, 2000. "Mining data," Regional Review, Federal Reserve Bank of Boston, issue Q3, pages 17-24.
    2. Joe Peek & Eric Rosengren, 1998. "The evolution of bank lending to small business," New England Economic Review, Federal Reserve Bank of Boston, issue Mar, pages 27-36.
    3. Gregory D. Squires & Sally O'Connor, 1999. "Access to capital: Milwaukee's small business lending gaps," Proceedings 773, Federal Reserve Bank of Chicago.
    4. Alicia Robb & Robert Fairlie, 2006. "Access to Financial Capital Among U.S. Businesses: The Case of African-American Firms," Working Papers 06-33, Center for Economic Studies, U.S. Census Bureau.
    5. P. Köllinger & M. Minniti, 2006. "Not for Lack of Trying: American Entrepreneurship in Black and White," Small Business Economics, Springer, vol. 27(1), pages 59-79, August.
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    Cited by:

    1. Thierry Theurillat & Jose Corpataux & Olivier Crevoisier, 2008. "Property Sector Financialization: The Case of Swiss Pension Funds (1992--2005)," European Planning Studies, Taylor & Francis Journals, vol. 18(2), pages 189-212, December.
    2. Tessa Hebb & Ashley Hamilton & Heather Hachigian, 2010. "Responsible Property Investing in Canada: Factoring Both Environmental and Social Impacts in the Canadian Real Estate Market," Journal of Business Ethics, Springer, vol. 92(1), pages 99-115, April.

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