Social and Sustainable Capital (SASC), an award-winning impact led social investor, has today launched a ground breaking new fund that will invest in the provision of safe, stable and appropriate homes for vulnerable people and their families in the UK.
The Social and Sustainable Housing LP was co-designed with charities to ensure demand for investment, and SASC is already working with a number of high impact organisations looking to access funding in the coming months.
The fund is launching with over £26m in commitments from 19 investors, including Social Investment Business and Big Society Capital who provided the capital for SASC’s two initial funds in 2014.
In addition to SASC’s original investors, the fund has attracted investment from Garfield Weston Foundation, CCLA Investment Management, The Esmée Fairbairn Foundation, Tudor Trust, City Bridge Trust, University of Edinburgh, Power to Change, Trust for London, Adlib Foundation and Barrow Cadbury Trust. Individuals representing SASC’s Board and Investment Committee have committed almost £1.75m to the first close.
Hazel Blears, Chair of Social Investment Business, said:
“We are delighted to be investing in the Social and Sustainable Capital Housing Fund alongside such dedicated and impressive partners. We are proud to be working with them to enable charities and social enterprises to provide homes for vulnerable individuals and their families”
Nick Temple, CEO of Social Investment Business, added:
“Back in 2014, Social Investment Business invested in SASC and both of their initial funds. We are hugely proud to have been involved in their development, and now during this next important phase with the Social and Sustainable Housing LP. We’re also very excited about the fund’s potential for impact on an important social issue, with the strength of partnership as a key driving force."
About Social and Sustainable Capital
SASC provides simple finance for extraordinary charities and social enterprises. We believe greater access to the right kind of investment makes charities and social enterprises better able to tackle society's most pressing challenges. Our funds provide flexible capital to enable social sector organisations to grow their social impact, improving the lives of disadvantaged people across the UK. SASC is a social enterprise.
>> Read our latest blog about Social Investment Business and SASC's partnership journey to date and beyond.