The Promise of a New Home
The Promise Homes Company was launched in May 2017 as one of the largest minority-controlled owners of institutional-quality, single-family residential rental property in the United States, with a focus on working class and middle class communities.
We believe that by supporting our residents with a series of financial and economic support services, we not only improve the lives of our residents, but we also build a stronger and more resilient company. We aim to improve the communities that we serve by enhancing the lives of our residents and by recognizing them as our shared strength.
We Promise our residents quality housing at affordable prices as well as financial empowerment and assistance that would position them financially to eventually own a home.
We Promise our communities that we will improve the lives of our residents, enhance the overall environment of the communities we invest in, and create local, sustainable jobs.
We ask our residents to Promise to take advantage of the range of financial empowerment tools and services that we offer with one purpose: to improve the quality of their lives and support the communities that we share.
John Hope Bryant
FOUNDER, CHAIRMAN, AND CEO
Named by American Banker as “Innovator of the Year” in 2016, and one of Time Magazine’s “50 Leaders for the Future” in 1994, John Hope Bryant is an American entrepreneur, author, philanthropist, and prominent thought leader on financial inclusion, economic empowerment and financial dignity.
Bryant is the Founder, Chairman, and Chief Executive Officer of Operation HOPE, Inc.; Chairman and Chief Executive Officer of Bryant Group Ventures, and Co-Founder of Global Dignity. His work has been recognized by the last five U.S. presidents, and he has served as an advisor to the last three sitting U.S. presidents. He is responsible for financial literacy becoming the policy of the U.S. federal government. In January 2016, Bryant became the only private American citizen to inspire the renaming of a building on the White House campus, when the U.S. Treasury Annex Building was renamed the Freedman’s Bank Building. The Freedman’s Bank legacy is the basis of the narrative for the important work of Operation HOPE—to help all people become fully integrated into our nation’s economy.
Bryant is a founding member of Clinton Global Initiative, a LinkedIn Influencer, contributor to Huffington Post and Black Enterprise, and a member of the World Economic Forum Expert Network. His Facebook Live “Silver Rights” series has received millions of views, and serves as an engaging platform to foster essential discussion in the digital space around financial inclusion and social uplift.
He has received hundreds of awards and citations for his work, including Oprah Winfrey’s Use Your Life Award and the John Sherman Award for Excellence in Financial Education by the U.S. Treasury. Mr. Bryant is also the author of bestsellers How the Poor Can Save Capitalism: Rebuilding the Path to the Middle Class (Barrett-Koehler), and LOVE LEADERSHIP: The New Way to Lead in a Fear-Based World (Jossey-Bass).
Investment Committee Members
Michael Arougheti is a Co-Founder, Director and President of Ares Management, L.P., a publicly traded, leading global alternative asset management firm with more than $100 billion of assets under management as of June 30, 2017. Prior to joining Ares in 2004, Arougheti was employed by Royal Bank of Canada from 2001 to 2004, where he was a Managing Partner of the Principal Finance Group of RBC Capital Partners and a member of the firm’s Mezzanine Investment Committee. Prior to Royal Bank of Canada, Arougheti was a Principal and Investment Committee member at Indosuez Capital, where he was responsible for originating, structuring and executing leveraged transactions across a broad range of products and asset classes. Prior to joining Indosuez in 1994, Arougheti worked at Kidder, Peabody & Co., where he was a member of the firm’s Mergers and Acquisitions Group. Arougheti serves on the boards of directors of Riverspace Arts, a not-for-profit arts organization and Operation HOPE, a not-for-profit organization focused on expanding economic opportunity in underserved communities through economic education and empowerment. Arougheti received a B.A. in Ethics, Politics and Economics, cum laude, from Yale University.
Tony Ressler is a Co-Founder, Chairman and Chief Executive Officer of Ares Management, L.P., a publicly traded, leading global alternative asset management firm with more than $100 billion of assets under management as of June 30, 2017. Ressler has been with Ares Management since its founding in 1997. Since June 2015, he has served as Principal Owner and Chair of the Atlanta Hawks Basketball Club. In the nonprofit sector, Ressler serves as a member of the Board of Directors of the Cedars-Sinai Medical Center, as Co-Chair of the Board of Directors of the Los Angeles County Museum of Art (LACMA) and as a member of the Board of Trustees of Georgetown University. He is also one of the founding members of the Board and Co-Finance Chair of the Painted Turtle Camp (affiliated with Paul Newman’s Hole in the Wall Association), which serves children dealing with chronic and life-threatening illnesses by providing old-fashioned camping experiences. In the charter/public education sector, Ressler is a Founder of the Alliance for College Ready Public Schools in Los Angeles. Since 2004, the Alliance has grown to 26 free, public charter middle and high schools serving approximately 12,000 students from LA’s poorest communities with historically underperforming schools. Four Alliance schools have been named California Distinguished Schools and three are ranked in the top 10 of all LAUSD schools. More than 90% of Alliance graduates have gone on to college. Ressler received his B.S.F.S. from Georgetown University’s School of Foreign Service and received his MBA from Columbia University’s Graduate School of Business.
VICE PRESIDENT, OPERATIONS
Jackie Williams is the Vice President of Operations for The Promise Homes Company. Her primary responsibility is focused on communicating and facilitating relationships with the company’s debt and equity stakeholders. She is a key member of the investment process analyzing acquisition opportunities and overall portfolio performance. Prior to Promise Homes, Williams worked at a full-service investment bank focused on the real estate and financial services sector. She spent most of her 5+ years at the investment bank in equity research working directly with Senior Analysts to build out coverage and perform fundamental analysis on companies within the financial services and real estate sectors. Williams received her BS in Finance from Fairfield University.
Megan McNulty, CFA
VICE PRESIDENT, INVESTMENTS
Megan McNulty is the Vice President of Investments for The Promise Homes Company where she is an integral member of the investment process analyzing potential acquisition opportunities along with underlying market trends. Prior to Promise Homes, McNulty was a Portfolio Manager at Merrill Lynch where she oversaw portfolios of real estate, fixed income, equities and derivatives. Prior to Merrill Lynch, McNulty worked in equity research where she primarily focused on performing fundamental analysis on the real estate sector covering REITS, real estate operating companies, and home builders. McNulty is a former student athlete from the University of Virginia where she was a captain of the D1 Women’s Lacrosse team and received her B.A. in Economics. Additionally, she has received the CFA designation and is a member of the CFA Institute and the CFA Society of Washington, D.C.
Michael Chiert, CPA
VICE PRESIDENT, ACCOUNTING
Michael Chiert is joining The Promise Homes Company as Vice President of Accounting. In this role, he will be responsible for all accounting and reporting for the company and will drive the implementation and monitoring of internal controls, risk management, and treasury functions. At Promise Homes, Michael will draw on his 14 years of real estate experience and his track record of helping firms transition into institutional quality companies.
Before joining Promise Homes, Michael worked as the Director of Finance for Cofinance Inc., a French real estate firm, where he helped oversee the $500 million US real estate portfolio, while restructuring operations from its property management business to focus on growing its higher margin asset management division. Michael managed the outsourcing of all property management and developed internal controls over these operations. He also led the development of a new programmatic JV platform created to raise capital from high net worth European investors seeking to acquire real estate in Manhattan and Brooklyn.