The California Infrastructure and Economic Development Bank (IBank) is a state government agency housed within the Governor ‘s Office of Business and Economic Development (GO-Biz). IBank is a capital access bank that finances public infrastructure and private development. IBank is California state government’s only general-purpose financing authority. IBank issues both tax-exempt and taxable revenue bonds as 501(c)3 bonds, exempt facility bonds, and public agency revenue bonds.
In addition to bond financing, IBank offers infrastructure loans to municipalities, small business loan guarantees to increase capital access by reducing risk for lenders, and a venture capital program designed to increase access to venture capital and expand the VC ecosystem.
Orrick is a global law firm serving the technology, energy, infrastructure, finance, and life sciences sectors across 25+ markets worldwide. For over a century, Orrick has advised governments, public agencies, developers, investors, and lenders on complex infrastructure and public finance transactions. Ranked Band 1 byChambers USA for Public Finance, P3s, Energy Transition, Renewables, and Power, Orrick combines market-leading public finance and infrastructure capabilities to help clients deliver critical projects through innovative financing and procurement solutions. Over the past five years, the firm has advised on more than $624 billion in public finance transactions and $188 billion in P3 and alternative delivery projects.
Assured Guaranty, the leading provider of municipal bond insurance, has helped reduce the cost of municipal finance and protected municipal investors for four decades. It guarantees timely payment of bonds’ principal and interest. Bond insurance from Assured Guaranty makes small, medium, and large municipal bond issues more cost-efficient for issuers because it creates greater security and market liquidity for investors, who prize not only the unconditional and irrevocable promise of payment but also Assured Guaranty’s credit underwriting, negotiated terms and surveillance. The group’s holding company, Assured Guaranty Ltd., is listed on the New York Stock Exchange (ticker symbol AGO) and is held to the transparency standards of both the exchange and U.S. securities law.
Learn more at AssuredGuaranty.com
Invest Smarter, Build Stronger with BAM-Insured Bonds.
BAM Mutual-insured bonds help investors build a better portfolio and support essential infrastructure projects. Let our exclusive focus be your strategic advantage.
As one of the world’s largest credit ratings agencies, Fitch Ratings plays a critical role in global capital markets by providing credit analysis, ratings, research, and commentary to financial market participants. For over 100 years, Fitch Ratings has been creating value for global markets through rigorous analysis and deep expertise, which have resulted in a variety of market leading tools, methodologies, indices, research, and analytical products. Fitch Ratings is part of Fitch Group, a global leader in financial information services with operations in 30 countries, which also includes Fitch Solutions. With dual headquarters in London and New York, Fitch Group is owned by Hearst. For additional information, please visit fitchratings.com.
Helping government & nonprofit finance teams do their best work
Monetary helps finance teams manage debt, cash, leases, and subscriptions with modern, cloud-based software, purpose-built for governments and nonprofits.
Moody’s Ratings combines global expertise and experience with tailored, local service to provide organization-specific insight and thought leadership on credit trends in the US public sector.
Muni Technology Partner
For Issuers, Banks, Advisors, and Asset Managers
We are an innovative, trusted partner to our clients with in-depth expertise in capital markets, banking and finance.
S&P Global Ratings, a division of S&P Global Inc. (NYSE: SPGI), is a leader in providing credit ratings insight for the public and not-for-profit sectors. Our public finance analysts provide a deep understanding of markets with sector-specific experience. Learn how our perspective can help you make better-informed financing decisions. Visit spglobal.com/uspublicfinance
Siebert Williams Shank & Co., LLC (SWS) is an independent non-bank financial services firm that offers investment banking, sales and trading, research, and advisory services. We provide customized solutions incorporating comprehensive financial advisory, capital raising and risk management guidance with the mission of delivering the highest level of value-added services to our clients. Dually headquartered in New York and Oakland, our firm is comprised of over 135 diverse professionals spanning over 27 offices across the United States.
SWS serves a broad spectrum of clients, including corporations, governments, municipalities and institutional investors.
SWS was formed in November 2019 to merge the complementary strengths and established track records of its predecessor firms—Siebert Cisneros Shank Co., L.L.C., founded in 1996, and The Williams Capital Group, L.P. founded in 1994. SWS is wholly owned by Shank Williams Cisneros & Co., LLC (SWC).
Institutional Banking
Steadfast partner. Sophisticated solutions.
Beyond traditional banking, UMB offers deep expertise and consultative partnership across the institutional marketplace, from community banks and municipalities, to some of the largest corporations, broker-dealers and fund companies in the U.S. and abroad.
Longevity, trust, and experience with complexity: The keys to your success
Individuals and institutions rely on us to provide an elevated level of skill, service, and knowledge—for every transaction, plan, strategy, and investment. Let us introduce you to Wilmington Trust.
Whether raising capital in Singapore or financing equipment in Los Angeles, hedging currencies in Frankfurt or expanding a business in Huntsville, we understand the challenges our clients face around the world. We combine local knowledge and global perspective to tailor solutions to meet clients’ goals. We are the largest U.S. commercial and industrial lender. And we have one of the top market-making and investment banking platforms.
Chapman is a law firm focused on finance. Our firm is comprised of lawyers and support professionals with the highest level of technical skill and industry insight who care deeply about their clients, colleagues, and co-workers.
Advancing Individuals and Communities Through Innovative Financial Solutions
HilltopSecurities is a unique blend of financial strength, deep industry knowledge, and years of experience. But that’s only part of the story.
Our firm was born out of the fusion of two respected and successful firms with complementary business lines: First Southwest Company, a broker-dealer founded in 1946 and known for its municipal advisory practice, and Southwest Securities Inc., a full-service broker-dealer since 1972.
As part of Hilltop Holdings, a well-capitalized and publicly traded parent company, we’re backed by a strong and diverse financial services enterprise. One that’s focused on moving our clients forward. Nothing better represents this than our iconic buffalo mascot, “Mo,” a symbol for our collective strength, unified force, and the unstoppable momentum of an advancing herd.
Global Investment Banking & Capital Markets
Jefferies is one of the world’s leading full-service investment banking and capital markets firms.
KBRA is a global full-service rating agency with a mission to set a standard of excellence and integrity. Established in 2010, KBRA remains dedicated to the restoration of trust in credit ratings by creating new standards for assessing risk and by offering timely and transparent ratings. KBRA provides market participants with an alternative solution by delivering in-depth research across various sectors within the US, UK and European markets. We strive to provide the investment community with the products and tools needed to make informed investment decisions.
At Morgan Stanley, clients come first. We help individuals, families, institutions and governments raise, manage and distribute the capital they need to achieve their goals.
We combine high performance, entrepreneurial spirit, deep engagement, and an unwavering commitment to a culture of collaboration, diversity, and humanity.
Sophisticated offerings on a more personal scale.
As a global financial services firm, our focus is on providing trusted advice and tailored, sophisticated strategies for individuals and institutions.
For 50 years, top companies have counted on Stradling to have the right team and skills to meet their toughest challenges 24/7, 365 days a year.
Stradling is a leading law firm with more than 110 lawyers providing experienced counsel in critical transactions and disputes from offices across California, Colorado, Nevada, and Texas. Stradling’s size, structure, and culture provide big-firm counsel with small-firm flexibility and responsiveness. That deliberate focus on client success has helped the firm attract and retain many of the most accomplished lawyers in their fields. Stradling lawyers provide clients with innovative solutions to their corporate and securities, public and corporate finance, private equity, litigation, M&A, employment, tax, venture capital, privacy and data security, intellectual property, healthcare regulatory, consumer regulatory, bankruptcy, environmental, and real estate needs.
Wells Fargo Government Banking provides access to specialized products and services to address the distinctive needs of local and state governments, with a focus on building long-term relationships.
- Government Banking and Public Fund Deposits
- Municipal Credit & Direct Purchase Facilities
- Specialized Treasury Management Services
- Public Finance & Bond Underwriting
- Fixed Income Investments
Debt Modeling, Marketing & Management
The Muni Bond Platform
Adaje is the only software platform designed to streamline the entire bond issuance lifecycle: from structuring ideas to marketing to post-issuance management and disclosure. Built for issuers, bankers, advisors, and investors. Adaje eliminates data entry, automates analysis and monitoring, connects market participants, and simplifies access to your data.
Blaylock Van, LLC is Wall Street’s longest continuously operated African American investment banking and financial services company, providing corporate debt and equity underwriting, sales and trading and municipal finance for over 30 years.
As a global financial services company, we oversee more than $55.8 trillion* in assets for our clients – managing it, moving it and keeping it safe.
For over 240 years, we have been creating new solutions that benefit businesses, communities and people everywhere.
No matter what the future brings, we’ll be ready and we’ll be working. Making money work for the world.
*As of June 30, 2025
Expect more from a financial services partner
For more than a century, our organization has fueled the success of consumers, businesses and wealth clients alike. As part of an organization that spans the American Midwest and Southwest, we’re able to deliver the kind of insights and expertise you might not expect from someone so close to home. And, with our focus on building long-term relationships and commitment to investing in our communities, you can grow right along with us.
The California Municipal Finance Authority’s (“CMFA”) mission is to support economic development, job creation and social programs throughout the State of California while giving back to California communities. By supporting our member communities and their local charities with a portion of the revenue generated through the issuance of taxable and tax-exempt bonds for public, private and non-profit entities, the CMFA is able to directly contribute to the health and welfare of the residents of California.
The CMFA shares 25% of all issuance fees directly with its member communities. In addition, a grant equal to 25% of the issuance fee is made to the California Foundation for Stronger Communities (“CFSC”) to fund charities designated by the member communities. A portion of the annual fees received by the CMFA will also be directed to charitable activities within California communities. This unique commitment to “give back” directly to the communities in which we operate sets the CMFA apart.
Applying our extensive product expertise and a depth of service offerings, we deliver innovative corporate trust solutions for your most complex transactions. We serve a diverse client base, including private and public companies, investment bankers, asset managers as well as governments and institutions.
Fidelity Capital Markets ® (FCM) provides innovative trading and technology solutions, and execution services across multiple asset classes for institutional investors. Our offering includes a suite of electronic brokerage products for equities, options, prime brokerage, securities lending, fixed income, municipal- and bank-issued brokered CD underwriting, and FOREX. For more than 30 years, FCM has successfully worked with asset managers, hedge funds, family offices, endowments, banks, and brokerage firms in support of their business goals. Fidelity has one of the largest retail and institutional presences; this expansive network provides institutional investors with a differentiated offering and greater access to liquidity. We can help clients maximize their investment strategies with our leading market insight, advanced technology solutions, and high-quality trade execution.
At PNC Public Finance, we’re more than a financial provider—we’re your partner in progress. From essential credit solutions to capital markets and treasury management, we tailor capabilities to fit your organization’s needs. We’re also one of the most active public finance firms in the country—committed to helping public and nonprofit organizations move their mission forward.
SMBC Group
Stifel Public Finance is a national leader in municipal finance, combining local market expertise with the reach of a top underwriting platform. Stifel ranks #1 in California, leading all underwriters by number of negotiated municipal bond issues statewide. Backed by dedicated California offices and sector specialists, Stifel delivers tailored financing strategies, deep investor distribution, and proven execution for issuers across the State’s cities, counties, school districts, and special districts.
At TD, banking is more than business transactions – it’s a relationship built around your goals, your growth and your people. We work alongside small businesses, entrepreneurs, middle-market companies, large corporations, and private equity sponsors to create forward-thinking financial strategies that deliver.
U.S. Bank is a valued service provider for a broad range of corporate and municipal financings in addition to a wide variety of escrow services. Their experienced professionals understand the complexities of these transactions and use their expertise and the latest technology available to exceed each customers individual needs and fulfill their expectations for timeliness and accuracy. Experience their support services and make U.S. Bank your provider of choice.
Western Alliance Bank, Member FDIC, the primary subsidiary of Western Alliance Bancorporation, is a leading national bank for business, delivering tailored business banking solutions and consumer products backed by outstanding, personalized service and specific expertise in more than 30 industries and sectors. Western Alliance Trust Company, N.A., a wholly owned subsidiary of Western Alliance Bancorporation, delivers corporate trust services and administration solutions to a wide variety of municipal bond issuers and administering taxable and tax-exempt transactions.
WireSafe is a software security platform that protects financial wire transfer instructions from cyber threats. Trusted by banks, financial institutions, businesses, and government agencies, WireSafe safeguards against sophisticated fraud attempts to alter wire instructions for the transfer of funds at closing.
At Argent Institutional Trust, every partnership starts with a simple promise: You, First.
As we look ahead, we’re proud to stand alongside public finance leaders who share that same commitment to serving communities with care, accountability, and purpose.
In public finance, there’s no margin for uncertainty—only trust, precision, and performance. That’s why our trust solutions are designed with your priorities at the center. Whether supporting bond issuances, managing escrow accounts, or navigating complex compliance requirements, we focus on delivering clarity and confidence so you can focus on what matters most: the communities you serve.
For us, “You, First.”, means anticipating your needs before they arise, simplifying the complex, and ensuring every detail is handled with the highest level of diligence and security.
We look forward to connecting with you and continuing the conversations that move public finance forward—together.
Baker Tilly is a top 10 advisory, tax, and assurance firm connecting with organizations to uncover what drives their performance and translate that insight into distinct strategic advantage.
Our work is grounded in enduring, collaborative relationships and strengthened by deep industry intelligence across 30+ sectors. Designed specifically for the middle market, we understand its complexity, demands, and opportunities and how to navigate them with ambition and clarity.
Backed by professionals across the U.S. and in leading global financial centers, we provide access to a full platform of capabilities from validated financial performance to mitigated risk, managed operations, strategic transformation, personal wealth, enhanced tax value, and more. All to reach your organization’s full potential.
Bancroft Capital is a Certified Service-Disabled Veteran-Owned Small Business (SDVOSB) with a dedicated public finance team committed to providing best-in-class service to municipal issuers and tax-exempt investors. Bancroft is founded upon a commitment to service – service to our clients, service to our country, and service to our veterans who have sacrificed on our behalf.
Basefund is the leading platform to secure and insure institutional money movement. Having protected over $60B in transactions, the platform gives issuers, trustees, underwriters and their counterparties a verified channel for high-value transactions. Basefund validates payment instructions and protects wire transfers against fraud, misdirection and human error; shifting liability away from participants and allowing coordinators to satisfy their regulatory and professional obligations.
Founded in 2001, Cabrera Capital Markets LLC is the leading Latino-owned investment bank and institutional brokerage firm providing investment banking for municipal, corporate, and advisory clients, institutional brokerage services for municipal bonds, global equities, taxable fixed income securities, preferred equities, and structured products, as well as cash management services. Cabrera’s diversified global client base includes corporations, municipalities, financial institutions, federal agencies, unions, pension funds, foundations, and endowments. Cabrera’s areas of expertise include: Corporate Investment Banking Capital Markets Corporate Advisory Public Finance Investment Banking Municipal Sales and Trading Global Equities Preferred Equities Taxable Fixed Income Structured Products Cash Management Cabrera is a certified Minority-Owned Business Enterprise (MBE).
CPCFA Tax-Exempt Private Activity Bond and IDB Financing Program
Known as Capital Programs & Climate Financing Authority as of January 1, 2026, CPCFA, a financing authority housed in the State Treasurer’s Office, has been assisting businesses of all sizes, non-profits, and public-private partnerships in accessing the tax-exempt market since 1973. Under state law, CPCFA issues bonds, notes and bond anticipation notes (BANs) in the categories of solid waste, carbon dioxide capture, wastewater, and water furnishing, as well as certain industrial development bonds (IDBs).
In addition to the excellent service and competitive rates provided to all applicants, small businesses (up to 500 employees) can receive a Small Business Assistance Fund subsidy towards the costs of issuance, while non-profits pay a reduced administration fee.
Your wealth. Our priority.
We are not your typical wealth manager—we are a partner in building, preserving and growing your financial legacy. What sets us apart? A relentless focus on your best interests, a highly personalized approach and a deep commitment to making managing wealth about more than just numbers.
As part of the Franklin Templeton family of companies, a $1.6 trillion investment leader, we offer:
- A complete approach to wealth. We integrate investing, trust services, estate planning and tax optimization to create a plan for your wealth that works for you and your future generations.
- Sophisticated investment management and advisory. Whether you are a high-net-worth individual, family or nonprofit, a well-thought-out investment strategy is crucial to sustaining and potentially growing your assets. From long-term planning to short-term monitoring, we build your portfolio to be aligned with your unique needs, values and goals.
- Fiduciary guidance you can trust. As true fiduciaries, we’re not here to sell products or one-size-fits-all solutions—every decision we make is personal and designed to serve you with transparency, integrity and purpose.
- A boutique backed by strength and deep resources. Our clients benefit from the best of both worlds—a high-touch experience alongside the resources and strength of Franklin Templeton, a worldwide investment leader with 9000+ employees and 47 global office locations.
Hawkins offers governmental agencies, non-profit corporations and financial institutions exceptional legal service and sophisticated counsel in finance and infrastructure transactions. Founded in 1854 and with 90 lawyers in ten offices across the country, the firm is consistently recognized by clients and peers for sustained excellence. Our professionals practice with the distinctive collegiality and mutual respect intrinsic to traditional law firm partnerships.
Ranked first as underwriters’ counsel and second as bond counsel nationally over a 40-year span, our firm has closed $1 trillion in public finance transactions. State and local governments regularly turn to Hawkins, on the strength of our unique specialty practice and outstanding record of innovation and accomplishment, to structure new financing programs, resolve complex tax and securities disclosure questions, and advise on infrastructure procurement, project finance and public private partnership matters.
Hawkins attorneys recognize and value the public purpose at the core of our clients’ projects and programs, be it providing education or health care services, renewable energy, pure water, environmental protection, transportation, economic development, cultural opportunities or affordable housing. We craft sound and creative legal solutions to major, complex public works and capital project contract and financing challenges that serve the public interest and reflect a deep understanding of the legal and market terrain.
J.P. Morgan delivers world-class financial solutions to government clients across the United States – from cities and countries to school districts and transit authorities. Our bankers bring specialized knowledge across all areas of your operations including investment banking, commercial banking, and financial transaction processing.
Powered by The Bond Buyer’s Municipal Marketplace® or The Red Book.
Municipal Marketplace Online is the most comprehensive, authoritative, qualified & up-to-date source of information, including more than 11,000 municipal bond professionals, 850 firms, 2,000 Municipal Issuers, and 2,800 offices. This exclusive service will connect you and your firm to the companies, information and decision-makers you need to expand and grow your business. The Red Book and Municipal Marketplace Online information comes directly from recognized industry firms who first must qualify to be listed and then pay an ongoing listing fee.
Norton Rose Fulbright provides a full scope of legal services to the world’s preeminent corporations and financial institutions. The global law firm has more than 3,000 lawyers advising clients across more than 50 locations worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg, covering Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.
With its global business principles of quality, unity and integrity, Norton Rose Fulbright is recognized for its client service in key industries, including financial institutions; energy, infrastructure and resources; technology; transport; life sciences and healthcare; and consumer markets.
Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. For more information, see nortonrosefulbright.com/legal-notices.
Trusted by Tier 1 Institutions and Boutique Firms
SOLVE is a leading market data platform provider for fixed income securities. Industry-leading firms trust the SOLVE Market Data Platform, powered by Deep Market Insight™, to reduce risk for securities investments and save hundreds of hours in pre- and post-trade research and validation.
At Truist, our purpose is to inspire and build better lives and communities. That happens through real care to make things better. To meet client needs, to empower teammates, and to lift up communities.