Press release
Micron Allocates $50 million to Women-Owned Seelaus Asset Management to Support Housing Equality (SHE) Strategy
CHATHAM, N.J., June 10, 2021 /PRNewswire/ -- Seelaus Asset Management, a women-owned business enterprise, today announced an allocation of $50 million from
About this update from Micron Technology, Inc.
[{"type":"text","content":"CHATHAM, N.J., June 10, 2021 /PRNewswire/ -- Seelaus Asset Management, a women-owned business enterprise, today announced an allocation of $50 million from Boise-based Micron Technology, Inc. (Nasdaq: MU). The allocation with Seelaus' agency Mortgage Backed Security (MBS) impact investment strategy will seek to positively support underserved communities and underrepresented groups by increasing access to home ownership. \n\n \n \n \n \n \n \n\n \nThe strategy, known as SHE (Support Housing Equality), utilizes U.S. government-backed MBS securities to generate a competitive return while simultaneously addressing the lending gap in these communities by investing in programs specifically designed to provide access to capital.\n\"We are honored to work with Micron on this important impact investment initiative. They are leading with action in their investment portfolio and addressing a critical need in our communities for more equality of economic opportunity,\" said R. Seelaus & Co., Inc CEO Annie Seelaus. \"Further they are supporting a women-owned asset manager in doing so and helping move the needle for all firms owned by underrepresented groups.\"\nThis will be the fourth allocation from Micron, totaling $300 million, to support impact investment initiatives following earlier investments to diversity and inclusion managers and impact focused programs. Engaging with minority-owned financial institutions is one of Micron's six 2021 diversity, equality and inclusion commitments. \n\"Ongoing pandemic challenges continue to amplify socioeconomic inequalities disproportionately impacting underrepresented communities across the country,\" said Micron Chief Diversity and Inclusion Officer Sharawn Connors. \"Micron's capital commitments are guided by our values for diversity, equality and inclusion. This allocation of $50 million to Seelaus' SHE strategy reflects how we are leveraging strengths from the business to support local communities where we live and work.\"\nThe SHE strategy offers investors a high degree of customization on impact objective including the ability to target a specific geography or demographic, and will allow Micron to support predominantly Black communities including those in the Washington D.C., Northern Virginia, Maryland, and San Francisco Bay Area.\nSeelaus Asset Management, LLC (SAM) is a wholly-owned subsid...