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#FaithinPartnership

Three new reports on partnership working between faith and local government.

Big Society Capital puts £12m into firm’s new social property fund

A £12m investment from Big Society Capital has helped to launch the Cheyne Social Property Impact Fund, which will lend money to social sector organisations that deliver services including affordable housing and supported living.

Cheyne Capital Management, which is running the fund, said it believed the total worth of the fund could reach £300m, but would not disclose how much it currently held, nor the identity of other investors who had been involved in its launch. The fund will assist social organisations to invest in property to deliver various services.

The fund “will aim for a balanced approach to financial and social return, with a view to generating stable, long-term, inflation-linked returns while creating positive social outcomes”, according to a BSC statement.

BSC said that the fund would help to reduce the sector’s reliance on government grants.

A spokeswoman for Cheyne Capital Management said no commitments had been finalised so far, but there was an “attractive pipeline” of possible future deals.


Read the rest of this article at Third Sector