Connect CRE - Casoro Launches Onyx Impact Fund to Boost Minority Wealth

By Lisa Brown, Connect CRE

Currently, only 8.3 percent of senior-level commercial real estate positions are filled by minorities. By focusing acquisitions on real estate sponsors and joint-venture partnerships that are at least 50 percent minority-led, 100 percent minority-owned Casoro Group hopes to change this.

Casoro recently launched its new Onyx Impact Fund to help increase the generational wealth of minorities through increased real estate investment.

The Onyx Impact Fund has a 10-year investment period with an investment target of $1 billion. It will seek investments with minority-owned sponsors in properties benefiting from job growth in the Sun Belt region using core-plus, value-add, opportunistic and ground-up development strategies.

“Investors have become concerned about the impact of their investments and how well they align with their values,” says Yuen Yung, Casoro Group CEO. “The Onyx Impact Fund will focus on providing both positive social impact as well as competitive financial returns for investors.”

A portion of the Onyx Impact Fund’s financial returns will be dedicated to educational and career assistance. Casoro has established the Casoro Group Education Foundation, a Texas nonprofit that will be funded by donors and pledges from the Onyx Impact.