Leading social impact property fund manager Resonance announced an anticipated 300% increase in investment – from £79mn to £250mn - into its initiative to tackle homelessness. This directly channels investment into residential property to help create pathways out of temporary accommodation for individuals and families. Resonance has set a target of reaching £1bn investment in the next five years, working directly with social enterprises, local authorities and housing partners across the country to help provide homes and solutions for people facing crisis.
This growth is supported by a £1.2mn equity investment into Resonance from leading impact investors, Better Society Capital, Esmée Fairbairn Foundation and Access – The Foundation for Social Investment, who have collectively backed this market pioneer. This investment will strengthen an already robust organisation as it springs forward to go further and faster.
As a specialist impact investment fund manager, Resonance, founded in 2002 and headquartered in Cornwall, now operates across the UK with over £300mn of assets under management. The investor capital it looks after is channelled into homes and solutions for people facing crisis, at the heart of communities. It is itself a social enterprise and an award-winning B-Corps.
Daniel Brewer, CEO, Resonance, said, “We’re very proud of our growth as a fund manager to date, but it has become clear over recent years that we are not keeping up with the level of need. With over 117,000 families stuck in temporary accommodation there is a market need for over £20bn of capital. Our homelessness property funds are just 1% of this. We’re incredibly proud of the partnerships that have helped shape a model suitable for institutional capital, but now is the time for us to pick up the pace.”
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Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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