Foss & Company is comprised of a group of experienced professionals, representing the best in class within their respective fields. In this blog series, we highlight different Foss & Company team members to shine a light on the diverse and dedicated people that help make us who we are.
Drew Goldman, Vice President of Investments for Foss & Company, spent 18 years in financial services and held roles including equity syndication, strategic M&A, global investment banking, corporate lending, and commercial real estate before joining Foss & Company in 2019. Drew has an MBA from Emory University’s Goizueta Business School and earned his BBA from The University of Texas at Austin.
Get to know Drew in the latest Spotlight Series blog:
How did you get started in the tax credit investing industry?
After working in the corporate finance and investment banking industries, I moved “back home” to Atlanta in 2005 and found myself in charge of business development for an apartment management company; a large portion of the third-party units were in the Low-Income Housing sector, so I learned a lot about tax credits by absorption.
With 2008 – and the “Great Recession” an opportunity to raise capital for a large LIHTC syndicator presented itself. I then transitioned into tax equity. Since then, I have migrated from Housing into Renewable Energy and Historic Preservation.
When did you join Foss & Company and what interested you about the company?
I joined Foss in January 2019 with a growing interest in financing Renewable Energy and other Sustainability-focused initiatives. Foss has a highly entrepreneurial culture, and a flexible approach to our evolving marketplace.
What do you find important or interesting about tax credits?
I have been in financial services since the 1990s – tax credit equity is well-proven for mobilizing private sector capital into programs that serve a public need, such as housing or sustainable energy infrastructure. A lot of value is derived from tax credits by a number of stakeholders, end-users, developers, and corporate taxpayers – all resulting in broad impact in communities all over the country.
What is one thing people may not know about tax credits?
Tax credits have been around for decades; Housing, Historic, and various clean energy-related programs have aided in scaling up development in several sectors of the economy.
How has the tax credit investing industry evolved and where do you see it going?
The 2022 Inflation Reduction Act is highly transformative. Additional opportunities to invest and additional structures to deliver tax credits are bringing a lot of new capital to the market. Transferability, for instance, is getting a lot of attention. Longer term, more players should help drive standardization and “ease of use”. This is an exciting time to be involved in the tax equity market!
Those that are interested in contacting Drew can email him at Drew@fossandco.com or connect with him on LinkedIn.