In a move to better reflect its role, the tax credit group at RBC Capital Markets has become RBC Community Investments. Executives Tony Alfieri and Craig Wagner remain co-heads of the group.

Tony Alfieri
Tony Alfieri

“The previous name [Tax Credit Equity Group] didn’t fully capture the breadth of our organization,” says Alfieri, noting that the group provides more than low-income housing tax credit (LIHTC) and other tax credit equity.

As an example, the team is embarking on a new workforce housing initiative this year.

“The other driver is what we do, we impact communities,” Alfieri says. “We invest in communities and wanted that to be more of our name versus an actual product.”

It’s a meaningful change internally at RBC Capital Markets and externally with developer and investor partners, adds Wagner.

“Community Investments more aptly applies to what we do,” he says.

Craig Wagner
Craig Wagner

The group has been a key financier of affordable housing and is one of the nation’s largest LIHTC syndicators with equity closed in excess of $11 billion. Last year, RBC closed nearly $1.3 billion in housing credit equity enabling the development and rehabilitation of 8,058 affordable homes. Additionally, it is active in providing capital through the renewable energy, historic, and various state tax credit programs while providing advisory services in both the affordable and renewable industries.