We have more than $12 billion in tax-exempt, taxable, and tax credit securities assets under management. Our investment professionals have expertise across the municipal market and our portfolios provide diversification by geography, sector, repayment source, and structure.
For taxable municipal securities, we focus on direct payment obligations established under the American Recovery and Reinvestment Act of 2009, including military housing projects and Build America Bonds. We also leverage our deep fixed income platform to uncover opportunities created by tax credit programs established for secondary education facilities, renewable energy projects, and other infrastructure-related projects. These tax credit debt instruments are structured to provide a tax credit to the investor as opposed to a cash interest payment.