The Delaware Valley Regional Center (DVRC) has been designated by USCIS as a “Regional Center” under the EB-5 Immigration Investor Pilot Program for the specific purpose of investing foreign funds into new, regionally significant government infrastructure projects. For its initial project, DVRC, in conjunction with the Pennsylvania Turnpike Commission, will be seeking investments to construct the Pennsylvania Turnpike/Interstate 95 Project which will provide motorists with a direct connection between the two major interchanges. The project has received exemplar approval. After this initial project, DVRC will continue to focus on providing capital to important public infrastructure projects in affiliation with government agencies.
The regional center’s geographic focus is comprised of the Delaware Valley Metropolitan Statistical Area. This includes the counties of Berks, Bucks, Chester, Delaware, Montgomery, and Philadelphia in the state of Pennsylvania; the counties of Burlington, Camden, Cumberland, and Gloucester in the state of New Jersey; the county of Cecil in the state of Maryland; and the county of New Castle in the state of Delaware.
Joseph Manheim, managing director of DVRC, has over fifteen years of research and investment experience. He also currently serves as the managing director of Reath&Co. which manages $750 million in assets from high net-worth families. Mr. Manheim’s career began in 1997 as a research analyst and proprietary trading desk portfolio manager at Salomon Brothers London, where he focused on high-yield and distressed debt investments. He also served as head of the principal investment department at ING Bank in London. Before becoming managing director of DVRC, Mr. Manheim was the chief investment officer of a $2 billion AUM institutional investment management firm called Swarthmore Group. He graduated from St. John’s College in Maryland with his B.A. in mathematics and philosophy.
Young M. Ban, director of DVRC, has extensively managed investments in a variety of structures. Mr. Ban currently also serves as a director at Reath&Co. Prior to his current roles, Mr. Ban was a portfolio manager at the Swarthmore Group managing both equities and fixed income products. He previously worked for Pinebank Asset Management as a high-yield investments analyst. He also worked as an analyst for Resolution Partners, along with that company’s Distressed Hedge Fund. Mr. Ban earned his bachelor’s degree in economics from Boston College and he graduated from New York University with his Juris Doctor/M.B.A. Mr. Ban has received the CFA designation.