Schroders raises £75m for social impact investment trust
Just reaches minimum target
Schroders said it will focus on social impact investments that, among other things, provide help for people with learning disabilities
Schroders has raised £75m for its social impact investment trust run by Big Society Capital (BSC), just hitting its minimum size but taking investment company primary fundraising up to £921m for 2020.
The Schroder BSC Social Impact Trust said it would use part of the £75m raised to acquire seven assets from BSC, with the rest to be invested in accordance with the company s investment policy and/or used.
Schroders raises another £75m from second trust IPO in a month
Schroder BSC Social Impact is the third investment trust from the funds giant tapping into UK private markets
The Schroder BSC Social Impact Trust has matched the amount raised for the British Opportunities Trust at IPO, bringing in £75m.
Schroders is the AIFM of the investment trust while Big Society Capital will be the investment manager targeting social impact investments that address issues such as homelessness, supporting people with learning disabilities and domestic abuse survivors, and improving access to services for physical and mental health.
Part of the net proceeds of the IPO, which was first announced in November, will be used to acquire seven assets from Big Society Capital.