Investment Program Association

the investment program association (ipa) was formed in 1985 to provide effective national leadership for the direct investment industry. the ipa supports individual investor access to a variety of asset classes not correlated to the traded markets and historically available only to institutional investors. these include public non-listed reits (nl reits), business development companies (bdcs), energy and equipment leasing programs, and private equity offerings. for over 30 years the ipa has successfully championed the growth and improvement of such products, which have increased in popularity with financial professionals and investors alike. direct investments are held in the accounts of more than 2 million individual investors, and the ipa’s member companies operate or have properties in all 50 states. today these investment products function as a critical component of effectively diversified investment portfolios and serve an essential capital formation function for the us economy. t