Savills Investment Management (Savills IM), today announces the first close of the Savills IM Simply Affordable Homes Limited Partnership (“the Fund”), with five founding investors: Samsung Life Insurance, London CIV, Big Society Capital, Schroder BSC Social Impact Trust plc and Savills Plc.
The Fund will invest in and manage a diversified portfolio of affordable housing, comprising both affordable and social-rent homes as well as shared-ownership homes, in an open-ended core product designed for institutional investors seeking a low risk, inflation-linked income stream whilst also delivering social impact.
Simply Affordable Homes RP Limited, the Fund’s For-Profit Registered Provider, will enable it to purchase existing high-quality income-producing stock through establishing strategic partnerships with housing associations and other registered providers, freeing up capital for them to develop more homes.
The Fund will also facilitate the delivery of new homes and through strategic partnerships with developers and housebuilders help create much needed affordable accommodation in the UK.
With an aim to facilitate a genuine social purpose with a positive impact, the Fund operates under enhanced governance frameworks and a sustainable investment strategy. The Fund has a ‘Theory of Change’ impact framework, designed in conjunction with The Good Economy (TGE), a leading social impact advisory firm, as well as a targeted carbon reduction pathway with a series of commitments, targeting high environmental standards and progressing towards Net Zero Carbon by 2040.