Crescent Growth Capital
Crescent Growth Capital works on behalf of its clients – be they real estate developers, banks, non-profits or governmental entities – by leveraging existing sources of project funding or working capital to create additional tax credit equity. Traditional bank debt, tax-exempt bond proceeds, developer’s equity, subordinated debt, governmental grant dollars and capital campaign contributions have all been leveraged by Crescent Growth Capital to generate tax credit equity. Crescent Growth Capital acts as the Financial Arranger for its clients, as a financial architect who secures tax credit allocations on behalf of its clients’ projects, structures project financing to generate tax credit equity, and remains intimately involved in the ensuing dialogue among project sponsors, legal experts, lending institutions and community development entities through financial closing. Drawing upon its historic preservation experience, Crescent Growth Capital partners with project sponsors and architects, and with state historic preservation officers, to craft historic tax credit applications and author nominations to the National Register of Historic Places. CGC also solicits bids from historic tax credit investors and/or buyers and ensures that subsequent legal and regulatory requirements are addressed, so that its clients maximize the amount of historic tax credit subsidy with a minimum of difficulty.
Real Estate Specialization
| Multifamily |
| Industrial |
| Retail |
| Health Care |
| Education |
Investment Type
| EB-5 |
| Debt |
Eric Finley
- 214-746-5065
- eric.finley@crescentgrowthcapital.com
Prior to co-founding Crescent Growth Capital, Eric Finley served as Vice President at Capital One, N.A., as part of the Debt Capital Markets group. This group developed Capital One’s New Markets Tax Credit (“NMTC”) product line, resulting in the closing of over $380 million in NMTC financings. Mr. Finley was also involved in the formation of, and served as an officer for, Capital One Community Renewal Fund, LLC, a Community Development Entity which received NMTC allocations from the United States Treasury totaling $160 million. Mr. Finley served as an officer on Capital One Public Funding, LLC, which managed over $1 billion in tax exempt bonds. Before Capital One’s acquisition of Hibernia National Bank, Mr. Finley was a Senior Financial Analyst/Junior Investment Banker for Hibernia Southcoast Capital’s Public Finance division. From 2002 to 2004, Mr. Finley worked at CSG Advisors in Atlanta, financial advisors to state and local governments, public agencies, non-profit corporations, financial institutions and real estate development firms. Mr. Finley structured over $2 billion in taxable and tax-exempt single-family and multi-family housing mortgage revenue bond financings on both a negotiated and competitive basis. Prior to CSG Advisors, Mr. Finley worked at Lend Lease Real Estate Investments, a real estate investment manager overseeing $39 billion in real estate and mortgages for institutional and private clients. Mr. Finley was part of the Corporate Finance division tasked with ongoing internal profitability analysis/tracking of investor performance returns for all real estate assets: Commercial Mortgage Backed Securities, Real Estate Investment Trusts, private debt and equity real estate funds.
Ray Rabalais
- 504-378-3474
- ray.rabalais@crescentgrowthcapital.com
Prior to co-founding Crescent Growth Capital, Ray Rabalais was a Senior Vice President at Hibernia Southcoast Capital/Capital One, N.A. from June 2004 to August 2008. A member of the Debt Capital Markets group, Mr. Rabalais also served as an officer of Capital One Community Renewal Fund, LLC, a Community Development Entity which received $160 million in New Markets Tax Credit (“NMTC”) allocations from the United States Treasury. Since 2005, Mr. Rabalais has been involved in the structuring and closing of over $600 million in NMTC transactions, involving more than three dozen NMTC projects in four states. From 1979 to 1996, Mr. Rabalais was a Public Finance Consultant and Investment Banker for Howard Weil Labouisse Friedrichs, Inc., an investment bank in New Orleans. From 1996 to 1999, Mr. Rabalais was an Investment Banker at First National Bank of Commerce. From 2001 to 2004, Mr. Rabalais was an Investment Banker for Morgan Keegan & Company, Inc., a regional investment bank. During this twenty-five year period, Mr. Rabalais served as Senior Investment Banker on more than $3 billion of tax-exempt financings. Mr. Rabalais received his A.B. from Princeton University in 1968 and his J.D. from the Harvard University School of Law in 1971. He also received an M.A. from Michigan State University in 1974. Since 1974, Mr. Rabalais has served on the faculty at Loyola University New Orleans College of Law, where he is the Eleanor Legier Sarpy Distinguished Professor of Law. He is admitted to the practice of law in the states of Michigan and Texas as well.
Troy Villafarra
- 504-378-3472
- troy.villafarra@crescentgrowthcapital.com
Prior to co-founding Crescent Growth Capital, Troy Villafarra worked for eighteen years in various analytical, commercial banking and investment banking capacities for Hibernia National Bank, in the Corporate Lending, Corporate Investment Banking and Public Finance departments. Mr. Villafarra has structured and executed complex financial transactions for a wide array of corporate, municipal and non-profit customers and has significant experience in the area of tax credit financing. At the time of Hibernia’s acquisition by Capital One, N.A., Mr. Villafarra was Managing Director at Hibernia Southcoast Capital and was responsible for Fixed Income Investment Banking and Public Finance. Following the merger, Mr. Villafarra was part of the Debt Capital Markets team at Capital One that originated the bank’s New Markets Tax Credit (“NMTC”) product. As a key member of the Debt Capital Markets unit, Mr. Villafarra was responsible for closing over $490 million in tax exempt bond transactions, including $118 million in bond securitizations, and $380 million in NMTC investments between December 2005 and August 2008. Mr. Villafarra also served as an officer of both Capital One Community Renewal Fund, LLC, a Community Development Entity which received $160 million in NMTC allocations from the United States Treasury, and of Capital One Public Funding, LLC, which managed a $1 billion portfolio of tax exempt bonds. In August 2008, Mr. Villafarra left Capital One, N.A. to co-found Crescent Growth Capital. Mr. Villafarra is a member of the Chartered Financial Analyst (CFA) Institute, as well as the Financial Analysts of New Orleans (FANO) professional organization. He received his B.S. in Finance from the University of New Orleans in 1988, and in September 2000 he was awarded the CFA.
Ryan Kenter
- 504-378-3473
- ryan.kenter@crescentgrowthcapital.com
Prior to co-founding Crescent Growth Capital, Ryan Kenter was a Portfolio Manager at Capital One, N.A. from January 2007 to August 2008, focusing on New Markets Tax Credit (“NMTC”) transactions in the Debt Capital Markets group. Since 2007, Mr. Kenter has been involved in the structuring and closing of nearly $600 million in NMTC transactions, involving more than three dozen NMTC projects in four states. In addition to NMTC transactions, Mr. Kenter assisted in the purchase of over $340 million in auction rate securities, and over $100 million in tax exempt bonds for the Debt Capital Markets group. From 2005 to 2007, Mr. Kenter was a Senior Credit Analyst for Hibernia National Bank/Capital One, N.A., focusing on the energy and commercial lending sectors. From 2003 to 2004, Mr. Kenter was a finance intern at UBS in New Orleans. During the summer of 2003, Mr. Kenter was an accounting intern at Tanimura and Antle in Salinas, California. From 1998 to 2001, Mr. Kenter was a customer relationship management analyst and media data coordinator in the marketing department at Pizza Hut, Inc. in Dallas, Texas. Mr. Kenter received his B.B.A. from Southern Methodist University in 1998 (Marketing Major) and his M.B.A. from Tulane University in 2004 (Finance Concentration).
Cameron Garner