Social and Sustainable Capital (SASC), an FCA authorised and regulated fund manager which Social Investment Business invests in, wins 'Asset Manager of the Year' at the Better Society Awards.
SASC was announced as the winner of the 'Asset Manager of the Year' category at the recent Better Society Awards, a ceremony which celebrates the efforts that commercial organisations make to create a better society.
Beating stiff competition from several large investment management companies, SASC was selected by the judging panel because they were ‘the only entry which provided very tangible results of what it offers.’ They received praise and recognition for their ‘compelling narrative’ and commitment to the survival of charities and social enterprises.
SASC was set up in 2012 by Ben Rick, a former Managing Director at Bank of America Merrill Lynch and Adam Knight, formerly a Managing Director at Goldman Sachs and Credit Suisse, to support UK social sector organisations with loans and investments.
In 2013 the Social Investment Business invested in SASC and provided other support that allowed them to launch two funds in 2014: the £20 million Community Investment Fund and the £30 million Third Sector Investment Fund.
The award entry highlighted two organisations SASC had worked with. The first was Harrogate Skills 4 Living Centre (HS4LC), a provider of quality care homes and essential skills to over 100 adults with learning disabilities
The second was Giroscope, an award-winning social housing company in west Hull who received two investments totalling £1m. This enabled them to expand their property portfolio, house more people and expand their training and community programmes. Giroscope now provides housing for 264 people - a 20% increase since SASC's first investment.
You can read more about HS4LC, Giroscope and the other inspiring charities and social enterprises SASC has worked with here in their 2018 Impact Report.