#United States #New York #Fundamental Advisors #Dominican University #V2 Municipal Capital

Fundamental Advisors and Dominican University: A Strategic Financing Partnership

Introduction

In a significant move to bolster higher education, Fundamental Advisors, known for its expertise in managing alternative assets, has successfully arranged a financing package totaling $33.75 million for Dominican University New York. This investment comes at a pivotal moment as the university seeks to improve its facilities and expand its programs, particularly in nursing. The funding originates from an initiative by the Rockland County Economic Assistance Corporation, reinforcing the commitment towards educational institutions that cater to a diverse student body.

Profile of Dominican University New York

Founded as a four-year doctoral level liberal arts university, Dominican University is a distinguished institution located 17 miles north of New York City. It serves around 1,400 students, many of whom are part of the growing number of minority and first-generation college attendees. The university has earned recognition as a Hispanic-Serving Institution, emphasizing its commitment to inclusivity and community support.

Financing Breakdown

The financing arrangement includes $28,885,000 in tax-exempt bonds and an additional $4,865,000 in taxable bonds. These funds are critical for recapitalizing the university's existing debt, allowing better financial stability moving forward, and facilitating essential capital projects, with a notable focus on enhancing the nursing program facilities. This strategic allocation showcases a thoughtful approach to addressing both immediate and long-term needs of the institution.

Vision from Leadership

Laurence Gottlieb, Chairman and CEO of Fundamental Advisors, expressed his enthusiasm regarding the partnership. He stated, “As dedicated public purpose investors, we view this partnership with Dominican University New York as an opportunity to support the long-term growth trajectory of an established institution serving a diverse student population.” His perspective highlights not only the financial aspect but also the social responsibility that accompanies such investments.

Similarly, Charlie Visconsi of V2 Municipal Capital remarked on the significance of this financing, commenting, “This transaction presented a compelling opportunity to support a university serving a growing cohort of minority, first-generation college students.” The insights from both leaders underscore the necessity of nurturing institutions that contribute positively to society.

Collaboration and Support

Dr. Manuel Martinez, president of Dominican University, praised the collaborative efforts that led to this financing, stressing that the deep understanding of the university’s mission by the Fundamental and V2MC teams was integral to crafting a customized financial solution. Tony Cipolla, the university's Vice President for Financial Affairs and CFO, further emphasized the smooth process of working with Fundamental Advisors and V2MC, ensuring that the financial structure was adeptly tailored to meet the university's needs, enabling future growth.

Conclusion

The partnership between Fundamental Advisors, V2 Municipal Capital, and Dominican University represents a model approach to financing higher education institutions. By focusing on long-term sustainability and infrastructural support, such initiatives highlight the crucial role that strategic financial partnerships play in enhancing educational opportunities for diverse populations. This financing not only alleviates existing debt burdens but also sets the stage for future growth and development, particularly in essential fields like nursing.

As the landscape of higher education continues to evolve, the commitment demonstrated by Fundamental and V2MC serves as a beacon for other institutions seeking similar support, fostering an environment where public purpose investments drive both community and educational success.