Alternative investment firm in deal with city, chamberOctober 3, 2013
Civitas Capital Group, a specialty financial services firm that focuses on alternative investments, EB-5 capital and wealth management, has entered into an exclusive EB-5 cooperation agreement with the city of Fort Worth and the Fort Worth Chamber of Commerce, the Dallas-based company said Oct. 3.
Civitas sponsors private investment funds that meet the requirements of the U.S. EB-5 Immigrant Investor Program, through which qualified foreign investors can receive permanent residency in the United States in return for investing a minimum of $500,000 into an American business that creates new jobs.
In April, Civitas announced its new Civitas Texas Regional Center, a 43-county regional center that includes the state’s most populous cities of Dallas, Fort Worth, Austin, San Antonio and Houston.
The new public-private partnership between Civitas and the city and the chamber is expected to attract international financial support and advance economic development within Fort Worth.
“Through our partnership with Civitas, we will continue to foster a thriving business environment and create jobs while raising the profile of Fort Worth among international investors,” Fort Worth Mayor Betsy Price said in a statement.
Through its EB-5 Funds division, Civitas is currently the exclusive manager of the City of Dallas Regional Center, which has funded or is in the process of funding more than $280 million of EB-5 capital and has created thousands of jobs in the city of Dallas.
“We pioneered this approach with the City of Dallas and are pleased to implement it in Fort Worth, a city with which we have developed an intimate relationship,” said Civitas Chief Executive Officer Dan Healy. “In the days ahead, we will work diligently to identify high-quality projects that bring investment and significant job creation into the area.”