Matthew Reilein has been named president and CEO of the National Equity Fund (NEF), effective June 1.
He will oversee all day-to-day operations of the Chicago-based nonprofit, including the implementation of all policies and programs. Reilein succeeds Joe S. Hagan, who is retiring after 19 years with the organization.
“Reilein brings a wealth of experience in community finance, development, and impact investing, having spent more than 15 years building relationships and leading teams to deliver market-driven capital to low-income communities,” said Edward Sigler, NEF board chairman.
Sigler led an executive search committee that partnered with Korn Ferry on a national search that began with a pool of more than 150 candidates. "Matt’s credentials, energy, and mission-centric focus convinced us that he is the right person to build upon Joe Hagan’s tenure of leadership and success at National Equity Fund,” he said.
NEF is a leading syndicator of low-income housing tax credits and an affiliate of the Local Initiatives Support Corp. Through its partnerships with developers and investors, the nonprofit has invested $15.3 billion in 2,687 LIHTC developments, creating 176,804 affordable homes for low-income individuals and families as well as 215,701 jobs nationwide
Reilein joins NEF from Cresset Partners, where he served as managing director and partner overseeing community development and part of the Opportunity Zone team. Prior to that role, he held additional positions of leadership, including managing director and head of Impact Investing at O’Brien-Staley Partners and managing director, community development banking, with JPMorgan Chase, leading New Markets Tax Credit and intermediary lending with community development banking.
“I am honored and humbled by the opportunity to help build upon National Equity Fund’s legacy of leadership in affordable housing,” said Reilein. “I look forward to getting to work with the National Equity Fund and Local Initiatives Support Corp. teams in the creation of affordable housing for diverse populations across our country and making a positive impact on hundreds of thousands of lives.”
Reilein serves as the chair of the board of directors of Chicago Community Loan Fund. He previously served on the executive committee of the New Markets Tax Credit Coalition and has been frequently involved with the Treasury Department's Community Development Financial Institutions Fund on market dynamics.
He holds a master of business administration degree in finance and marketing from Northwestern University’s Kellogg School of Management and a bachelor’s degree in international politics from Georgetown University. He serves on the Board of Governors of Georgetown University, the Metropolitan Planning Council, and Timeline Theater. He has been recognized for his leadership numerous times and was highlighted in the Crain’s Chicago Business “40 under 40” feature in 2013.