Fund Manager, Commercial Real Estate

LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with residents and partners to close gaps in health, wealth, and opportunity so that people and places can thrive. We do this by acting as a conduit for grants, loans and equity--and by providing technical assistance and capacity building--to locally rooted organizations that carry out the work in communities. About LISC Fund Management –  Where community and capital grow together LISC Fund Management (LFM) is a national impact investment platform that designs, raises, and manages mission-driven funds to expand access to capital for housing and small businesses in communities across the country. Drawing on LISC’s deep expertise in community development financing, LFM (a LISC subsidiary), connects private, public, and philanthropic capital to local initiatives that drive inclusive economic growth and long-term community stability. As an SEC-registered investment advisor, LFM partners with cities, investors, developers, and community stakeholders to deliver innovative public-private solutions that balance measurable impact with responsible financial returns. Our work is grounded in the belief that capital, when thoughtfully deployed, can be a powerful tool for advancing opportunity and strengthening communities nationwide. Our Vision To become a national investment partner — delivering innovative public-private solutions that scale local investment, drive high impact, and generate responsible returns. Our Mission Harnessing LISC’s expertise in community development financing to expand investment opportunities in housing and small business — connecting capital to community initiatives and driving sustainable growth nationwide. Our Core Values Partnership • Opportunity • Performance • Stewardship • Innovation These values guide how we collaborate, invest, manage risk, and measure success — ensuring accountability to our investors, partners, and the communities we serve. How We Work LFM operates as an integrated investment platform, aligning capital raising, investment execution, and long-term fund stewardship to deliver measurable impact and responsible returns. Our teams work collaboratively across the full fund lifecycle — from concept and capitalization through deployment, asset management, and reporting — ensuring continuity, accountability, and strategic alignment at every stage. We bring funds to market through our Fund Development and Marketing department , building strong investor partnerships and clearly communicating both impact and performance. Our Fund Investment and Asset management department ensures disciplined underwriting, active portfolio oversight, and long-term value creation for communities and investors alike. Fund Management and Finance provides the financial rigor, transparency, and fiduciary oversight required of an SEC-registered investment advisor, while Operations and Administration ensure compliance, governance, and scalable internal systems that support sustainable growth. Together, this integrated approach allows LFM to connect capital to community initiatives efficiently and responsibly — turning local investment into lasting, national impact. Position Summary The Fund Manager, Commercial Real Estate role resides within the Fund Management & Finance team and is responsible for overseeing the financial management, reporting, and operational performance of designated impact investment funds, including place-based affordable housing vehicles. Reporting to the Director, Fund Management, the Fund Manager is accountable for fund-level financial reporting, fund performance and analysis, capital management, investor communications support, and coordination across internal teams to ensure disciplined execution throughout the fund lifecycle. The role works closely with other LFM departments: Fund Investments & Asset Management, Fund Design & Marketing (specifically Investor Relations) and with LISC departments including Legal, Compliance, and LISC shared services to support accurate reporting, regulatory compliance, and fund performance transparency. The Fund Manager leads preparation of quarterly and annual financial statements, oversees capital call and distribution processes, monitors fund expenses and budgeting, portfolio level inputs, and supports investor reporting and board materials. The position requires strong financial analysis capabilities, comfort working with complex real estate investment structures, and the ability to interpret portfolio performance within the context of fund strategy. The Fund Manager contributes to maintaining LFM’s track record of financial discipline, transparency, and responsible stewardship of investor capital. Responsibilities   Fund Financial Management & Reporting Build, maintain, and regularly update financial models for assigned funds, incorporating actual fund performance, investment activity, capital deployment, repayments, expenses, cash flows, and other relevant assumptions to forecast fund performance through the end of the fund term. Use fund models to evaluate projected liquidity, deployment pacing, investor returns, management fees, and other key financial outcomes; identify variances from plan and recommend adjustments as needed. Review and approve quarterly and annual financial statements, investor reports, CECL impairment, and performance analysis for assigned funds, ensuring accuracy, completeness, and compliance with fund governing documents Analyze fund-level performance, including income statements, balance sheets, capital accounts, and portfolio returns. Present quarterly overview of fund performance to executive leadership and LISC Finance. Monitor and manage fund-level expenses, budgeting, and forecasting in coordination with Finance and shared services Oversee calculation and payment of management fees and