Resonance launches homelessness social investment property fund to help meet increasing demands of homelessness
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Posted 08.12.20
Resonance: Further reading
Social impact investment company, Resonance, has launched a new social impact homelessness property fund - 'National Homelessness Property Fund 2' - with an initial investment of £20 million and target fund size of £50-£100 million
The fund will partner with 'Let Us' - a group of registered housing providers in Greater Manchester. Further information about 'Let Us'
Greater Manchester Pension Fund, Greater Manchester Combined Authority and Big Society Capital are the first investors into the fund.
The investment from Greater Manchester Pension Fund is the first investment of a pension fund into a Resonance homelessness property fund.
The fund will initially focus on purchasing affordable homes in the Greater Manchester region and will expand nationally.
It works by acquiring properties and leasing them to the housing sector and homelessness charities to provide individuals and families at risk of homelessness with a settled home.
The fund also aims to partner with charity partners who will support individuals and families to find employment or education, set down roots in the community.
The aim is to attract institutional, pension fund, foundations and professional investors - who will be attracted by the financial return from rent and capital appreciation and also the strong focus on achieving positive social impact by helping to reduce homelessness.
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