Ballmer Group Announces Investments into Vistria and Avanath to Expand Affordable Housing for Families Across the U.S.

Ballmer Group today announced a $150 million investment aimed at building and preserving thousands of workforce and low-income homes for American families as a part of an ongoing commitment to ensuring economic mobility through addressing the housing crisis.

The investments announced today span two vehicles designed to address housing availability in the U.S.: a $75 million investment into The Vistria Group’s Affordable Housing Strategy and a $75 million investment into Avanath’s Affordable Housing Renaissance Fund.

“At Ballmer Group, we believe housing is more than just shelter—it’s the cornerstone for family stability, educational opportunity, and economic advancement,” said John Griffith, Executive Director of Strategy and Operations & National Housing at Ballmer Group. “Our investment in affordable housing will not only build and preserve thousands of homes for low-income families but also shed a light on the opportunity for institutional investment in this critical sector.”

Vistria and Avanath are each known for their innovative approaches to affordable housing. With Ballmer Group’s support, Vistria’s affordable housing strategy has reached $3.4 billion AUM, reflecting a shared commitment to creating lasting social impact. Vistria’s model integrates workforce development, education, and health services, ensuring that residents can access opportunities that promote economic mobility and community well-being.

“Ballmer Group’s investment affirms the strength and scalability of Vistria’s housing platform,” said Margaret Anadu, Senior Partner at The Vistria Group, who leads and co-founded the firm’s Real Estate strategy. “In less than three years, we’ve built one of the largest institutional strategies focused on affordable and workforce housing—demonstrating both the depth of the opportunity and the importance of disciplined capital in this sector.”

Avanath’s Renaissance Fund currently has approximately $1.35 billion AUM. The firm is pioneering new pathways for asset- and wealth-building for residents of the over 15,000 affordable housing units it manages, a number that is under contract to grow to over 30,000 in 2026. By providing high-quality, safe, and well-maintained rental homes alongside robust on-site services and amenities, Avanath’s approach aims to transform the rental experience for families and advance the goal of thriving, supportive communities.

“Ballmer Group’s support is a testament to the impact that can be achieved through investment in comprehensive affordable and workforce housing solutions,” said Daryl J. Carter, founder, chairman, and CEO of Avanath. “Through our perpetual-life Renaissance Fund, Avanath is able to build and renovate our portfolio, preserving and adding to the country’s quality affordable and workforce housing stock, while also investing at the human level through resident services including food programs, afterschool programs, wellness classes, and financial literacy workshops.”

With these market-rate capital investments, Avanath and Vistria aim to build affordable housing units, providing individuals and families with the safe, stable homes they need, and to address the rental housing shortage. These initiatives also aim to attract additional investors and institutional capital to the affordable housing market, thereby multiplying the positive effects for communities at scale. By reinforcing grantmaking with catalytic investments, Ballmer Group aims to address both the immediate and long-term needs of families seeking stable housing.

About Avanath

Avanath Capital Management is a privately held, vertically integrated investment firm managing real estate and real estate-related investments generating risk-adjusted returns through current income and capital appreciation from its investments. The firm is a Registered Investment Adviser and provides property management services through Avanath Communities, Inc. and now development services through Avanath Investment & Development.

Founded by Daryl J. Carter, the firm is led by a management team that averages 25 years of experience and that has successfully guided investment funds in defining growth opportunities. Avanath professionals have real estate operating expertise and long-standing relationships with strong local, regional, and national sponsors that can access investment opportunities aligned with Avanath’s initiatives. More information is available at www.avanath.com.

About The Vistria Group

The Vistria Group is building a new kind of private investment firm that seeks to deliver both financial returns and impact. It invests in essential industries like housing, healthcare, knowledge & learning solutions and financial services that deliver value for investors as well as communities, employees and consumers. With $17 billion in AUM, The Vistria Group looks deeper by working as a true partner, drawing on its deep sector knowledge, operational expertise, unique network, diverse team and impact orientation to achieve transformational growth. For more information, visit www.vistria.com.

About Ballmer Group

Ballmer Group is committed to improving economic mobility for children and families in the United States, funding leaders and organizations that have demonstrated the ability to reshape opportunity. We focus on multiple impact areas and systems that can impact economic mobility, such as early learning, K-12 education, college and career pathways, housing, behavioral health, and criminal justice. Ballmer Group is both a national and regional funder—we have a presence and invest deeply in southeast Michigan, Washington state, and Los Angeles County. Ballmer Group was co-founded by philanthropist Connie Ballmer and her husband Steve Ballmer, former CEO of Microsoft, founder of USAFacts, and chairman of the Los Angeles Clippers. Learn more at www.ballmergroup.org.