Community Reinvestment Fund saw its most recent private placement transform into its largest security offering to date. The demand for CRF-19, which priced on June 15, indicates this form of socially responsible investment hasn't fallen by the wayside in the dour economic environment.

The securitization, CRF-19, raised $62 million via sole lead agent Piper Jaffray. The vehicle is comprised of notes backed by community development loans and was sold to 12 institutional investors, including Merrill Lynch Community Development Co. and Wells Fargo & Co.

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