Social impact investor Big Society Capital and fund manager Cardano have announced plans to invest £195m in affordable housing.
The pair are looking to invest in real estate funds that “offer meaningful solutions to help address UK social and affordable housing challenges for the benefit of vulnerable or lower income people”, while delivering risk-adjusted returns.
Big Society Capital and Cardano, which has £50bn of assets under management globally, are looking to invest £45m and £150m respectively.
Big Society Capital estimates that value of social investments in affordable housing will reach £8bn by 2025, up from £2bn currently, as fund managers “become aware of their potential to generate genuine and positive impact on the UK’s housing crisis.”
Geordie Cox, investment manager, private markets at Cardano, said: “This is a sector where investments can improve lives but also offer attractive investment characteristics for our clients: resilient, inflation linked cash-flows; often with government backing and often diversifying in a portfolio.
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“At Cardano, we’re passionate about bringing purpose to pensions, alongside a stable return. Investments in this space have the added benefit of directly linking pension savers with the communities in which they live.”
Real estate fund managers can submit proposals for funding from today.
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