TIDMSBSI
RNS Number : 2779F
Schroder BSC Social Impact Trust
15 July 2021
Schroder BSC Social Impact Trust plc
Investment Update
New follow-on commitment - Social and Sustainable Housing LP
("SASH")
Schroder BSC Social Impact Trust plc (the "Company") has made a
new follow-on commitment of GBP5m into SASH, following its first
GBP5m commitment acquired through the Company's Initial Portfolio
in December 2020. This sits within the High Impact Housing
allocation of the Portfolio.
SASH aims to improve the lives of vulnerable individuals by
increasing their access to safe, stable and appropriate housing.
The fund provides investment to high-performing social sector
organisations with local knowledge, networks and a strong track
record in management of transitional supported housing. In turn,
these organisations purchase properties that can deliver housing
and support services to vulnerable individuals, including survivors
of domestic violence, children leaving the care system,
ex-offenders, asylum seekers, people with complex mental health
issues and people with addiction issues.
SASH aims to deliver risk adjusted commercial returns in an
uncertain market. SASH's financial returns rely on property
appreciation and rental incomes, predominantly from
inflation-linked government-backed rental payments.
A recent SASH investment example is Simon Community Scotland
("SCS") which focuses on providing housing and support for people
facing homelessness. Working across Scotland, the charity supports
people to resolve their homelessness and recover from extremely
difficult circumstances. The investment enables SCS to expand its
services into Edinburgh and buy 15 one- and two-bedroom properties
that will provide permanent homes for people with complex needs and
experiencing or facing homelessness.
New investment made within existing fund commitments
One of the investments in the Debt for Social Enterprises
allocation is Bridges Evergreen, is a long-term capital vehicle
that provides investors with access to a differentiated portfolio
of high-impact, income-generating investments. It invests in
scalable, profitable, cash-generative businesses that are
contributing towards positive solutions to social and environmental
issues, working in partnership with its investee organisations to
help them scale over time, build their teams and embed impact, with
the goal of delivering better outcomes for people and the
planet.
Bridges Evergreen has recently invested in Skills Training UK,
an independent skills training provider. Skills Training UK is a
leader in its sector; it has a long track record of growth and
achievement in the design and delivery of individual-focused skills
programmes that align with business needs, creating sustainable
employment and supporting social mobility.
Working with a number of funding partners in central and local
Government and with Local Economic Partnerships, Skills Training UK
offers a diversified range of apprenticeships, traineeships, adult
skills and employability courses that support 16-24 year-olds and
adult learners, many of whom are from disadvantaged communities, to
improve their skills and achieve positive outcomes.
Update on Initial IPO proceeds
Following this activity, the Company's portfolio is now 97%
committed, with 66% of the net proceeds of the Company's initial
public offering invested. The managers have an attractive pipeline
of opportunities and expect to be fully committed this month, ahead
of the anticipated 12-month timeframe.
Jeremy Rogers, CIO of Big Society Capital, Portfolio Manager,
Schroder BSC Social Impact Trust plc, said:
"We are pleased that this follow-on commitment will enable SASH
to provide more investment capital to charities that have deep
local knowledge and experience in delivering housing and support
services to vulnerable people, while aiming to generate resilient,
inflation-linked returns for investors.
"Bridges Evergreen's investment into Skills Training UK will
help support its increased provision and delivery of
individual-focused apprenticeships and skills programmes that align
with business needs, creating sustainable employment and supporting
social mobility. There is a growing demand for high-quality
training and re-skilling programmes, particularly post-Brexit and
the Covid-19 pandemic, and Skills Training UK is well-placed to
contribute towards solving this challenge, helping people to
up-skill and access quality jobs."
For further information, please contact:
Schroders
John Spedding 0207 658 3206
Estelle Bibby (Press) 0207 658 3431
Big Society Capital
Georgette Harrison/Emma Hickinbotham, georgette-emma@bigsocietycapital.com
Senior Communications Directors jwesthead@bigsocietycapital.com
(job share)
James Westhead, Head of Engagement
Winterflood Securities Limited 020 3100 0000
Neil Langford
Chris Mills
About Schroder BSC Social Impact Trust plc
The Company was launched in December 2020, with the objective to
enable access to high social impact investment opportunities in
private markets - tackling social challenges across the UK. The
Company aims to build a diversified portfolio across asset classes,
targeting sustainable returns, demonstrable social impact, and low
correlation to traditional public markets.
Further information about the Company can be found on its
website at www.schroders.com/SBSI
About Big Society Capital
Big Society Capital exists to improve the lives of people in the
UK through social impact investing. We unite ideas, expertise and
capital to create investment solutions for the UK's social
challenges, supporting organisations that deliver both positive
social impact and sustainable financial returns. So far, we have
helped channel GBP2.2 billion* into investments tackling a wide
range of problems such as homelessness, mental ill health and
childhood obesity.
To widen access to social impact investing, we have partnered
with Schroders, a global asset and wealth manager, to launch the
listed Schroder BSC Social Impact Trust plc. As the portfolio
manager, we provide investors with high impact investments that
contribute to solutions to social challenges alongside targeting
long-term capital growth and income.
Further information about Big Society Capital can be found at www.bigsocietycapital.com
*As at 31 December 2020
About Schroders plc
As a global investment manager, we actively and responsibly
manage investments for a wide range of institutions and
individuals, to help them meet their financial goals and prepare
for the future. The world is forever changing, and with our clients
at the centre of everything we do, we understand the need to
continue to adapt and evolve our business in line with what matters
most to our clients today, and in the future.
Our ongoing success is built on a history of experience and
expertise, whereby we partner with our clients to construct
innovative products and solutions across our five business areas
consisting of Private Assets & Alternatives, Solutions, Mutual
Funds, Institutional and Wealth Management and invest in a wide
range of assets and geographies. By combining our commitment to
active management and focus on sustainability, our strategic
capabilities are designed to deliver positive outcomes for our
clients.
We are responsible for GBP574.4 billion (EUR641.7 billion/$785.1
billion)* assets of our clients, managed locally by 42 investment
teams worldwide. As a global business with over 5,500 talented
staff across 35 locations, we are able to stay close to our clients
and understand their needs. We have over 200 years of experience in
investment and innovation and remain committed to creating a better
future by investing responsibly for our clients.
Further information about Schroders can be found at www.schroders.com .
*As at 31 December 2020
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