Low Income Investment Fund

Daniel A. Nissenbaum, Chief Executive Officer

Daniel A. Nissenbaum is the Chief Executive Officer of the Low Income Investment Fund (LIIF). LIIF is a Community Development Financial Institution (CDFI) that has invested $2.2 billion in community projects. LIIF’s investments have leveraged $10.8 billion in private capital for poor communities in 31 states across the U.S. and generated $57 billion in benefits for families and society.

Established more than 30 years ago, LIIF has served more than two million low income people by providing capital for 74,000 affordable homes for families and children, 269,000 spaces of child care and 92,000 spaces in schools. LIIF targets the poorest of the poor and builds bridges out of poverty for low income people and their communities. LIIF is a national CDFI with staff and offices in San Francisco, Los Angeles, New York City, Washington, D.C. and Atlanta.

Prior to LIIF, Mr. Nissenbaum was a Managing Director at Goldman Sachs, where he oversaw Community Reinvestment Act compliance for the firm’s Urban Investment Group and capital investment for the 10,000 Small Businesses program. Previously, he has also held real estate and community development finance positions at Chemical Bank, Chase Manhattan Bank Community Development Corporation (CDC), JPMorgan CDC and HSBC Bank. In addition, Mr. Nissenbaum served as an Investment Officer with the Merrill Lynch Community Development Company, where he was actively involved in debt financings, including construction lending, revolving credit facilities and other community development financings to for-profit and non-profit intermediaries.

He holds positions on several boards including the Community Restoration Corporation. Mr. Nissenbaum was Chairman of the Board of Governors and a Trustee for the National Housing Conference and served as a Member of the Advisory Boards of UV Partners, Center for Housing Policy, The Center for NYC Neighborhoods and the Bill T. Jones/Arnie Zane Dance Foundation.

Mr. Nissenbaum earned a Bachelor's Degree from Grinnell College and a Masters of Business Administration from Columbia Business School. He is based in New York.

Lucy Arellano Baglieri, Chief Strategy Officer & Executive Vice President

Mrs. Arellano Baglieri brings more than 15 years of community development management and strategy experience with a focus on social justice and racial equity. As Chief Strategy Officer for the Low Income Investment Fund (LIIF), a national Community Development Financial Institution (CDFI), Mrs. Arellano Baglieri leads organizational direction, racial equity, and external affairs. Prior to joining LIIF in 2020, she served as Chief Strategy Officer for the Mission Economic Development Agency (MEDA), leading the organization’s regional and national work focused on economic and racial equity initiatives in Latino and immigrant communities across the country. Her work draws on her own lived experience as a proud immigrant from Mexico, and a career dedicated to communities facing the deepest inequities, working largely across Black and Latino communities. Mrs. Arellano Baglieri’s core belief is that equitable community development must center communities of color and correct power imbalances with the explicit goal of community ownership and power. Her experience includes direct services, affordable real estate development and preservation, policy and advocacy, equitable CDFI lending for entrepreneurship and affordable real estate, collective impact education networks, and place-based strategies. She has also led internal organizational racial equity, strategy, evaluation, and professional development initiatives. Mrs. Arellano Baglieri is nationally recognized for her leadership and invited to share her perspective on equitable community development by a range of groups, including the Aspen Institute, UnidosUS, NALCAB, Affordable Housing Investment Council (AHIC), the San Francisco Federal Reserve Bank, and the National Housing Conference. Mrs. Arellano Baglieri holds a bachelor’s degree from the University of Washington. She is natively fluent in Spanish and is based in San Francisco.

Kimberly Latimer-Nelligan, President

Ms. Latimer-Nelligan is LIIF’s President, and is responsible for oversight of LIIF’s Community Investment Programs (CIP) which includes management of LIIF’s national Revolving Loan Fund, the New Markets Tax Credit business, programmatic activity and the risk and asset management functions. Under Ms. Latimer-Nelligan’s leadership LIIF has launched its Fresh Foods, Community Health Collaborative and Health & Housing Innovation initiatives and opened lending offices in Washington D.C. and Atlanta. LIIF currently has approximately $1 billion of capital under management and deploys over $250 million of capital annually. Ms. Latimer-Nelligan’s background in community development is extensive. Before joining LIIF in July 2008, she was with Citibank for over 20 years. Most recently, Ms. Latimer-Nelligan served as the Managing Director of National Lending and Investments, overseeing a $3 billion business within Citibank Community Development. During Ms. Latimer-Nelligan’s tenure at Citibank, Citi’s national lending, structured finance and equity investments for community development were consolidated under her leadership. In addition, she successfully established Citi’s charter school lending program. Ms. Latimer-Nelligan serves as the Board Chair of the Community Reinvestment Fund. She also serves on the Boards of Raza Development Fund and the National Affordable Housing Trust. She received her B.A. from Hobart and William Smith Colleges and her M.B.A. from Columbia University. She is based in New York.

Panagiota Mahendru, Chief Financial Officer

As Chief Financial Officer (CFO), Panagiota Mahendru provides strategic leadership for the fiscal infrastructure that supports LIIF’s programs, business activities and the organization’s growth. She brings over 20 years of global hands-on experience building and leading finance teams in for-profit and nonprofit companies. Previously, Ms. Mahendru held the CFO role at the Center for Employment Opportunities, a national nonprofit with over 6,300 employees operating in 31 cities and 12 states providing comprehensive employment services to thousands of individuals who have recently returned home from incarceration. She also worked at Housing Works, a nonprofit addressing AIDS and homelessness with a diversified revenue model in the areas of housing, health and retail. She currently serves as Board Member and Treasurer for Bent on Learning Inc. and Board Member and Secretary for the Hellenic American Association for Professionals in Finance. Ms. Mahendru received a Master of Arts in Accounting and Finance from The University of Leeds, UK and a Bachelor of Science in Accounting and Finance American College of Greece.

Denise Noel, General Counsel & Executive Vice President

As LIIF’s General Counsel, Noel will oversee LIIF’s corporate and board governance, legal matters and risk management functions. In addition, as General Counsel, she will chair LIIF’s internal loan committee.

Prior to joining LIIF, Ms. Noel was Legal Counsel to the Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund and was responsible for all legal matters related to the CDFI Fund’s policies, programs and administration, supervising the closing of over $5 billion annually in grants, loans, bonds, guarantees, equity investments and tax credits.

Prior to being named CDFI Fund Legal Counsel in 2017, Ms. Noel was an Attorney/Advisor to the CDFI Fund and served as lead attorney for numerous CDFI Fund programs and initiatives, including the CDFI Bond Guarantee Program, where she was instrumental in the legal structuring of the program and helped place almost $2 billion in long-term, low-cost capital in CDFIs. In addition, Ms. Noel was an attorney in private practice with O’Melveny and Myers LLP.

Ms. Noel serves as Board Secretary for Rebuilding Together DC Alexandria. Ms. Noel is also a Partnership for Public Service Excellence in Government Fellow. She has Bachelor’s degree in Management Information Systems from the Florida State University College of Business and a J.D. from the George Washington University Law School. She is a member of District of Columbia Bar and the State of Maryland Bar.