Schroders and Civitas hold final close for Social Supported Housing Fund

Schroders Capital and Civitas Investment Management have raised £192 million ($262 million) for their Social Supported Housing Fund (SoHo) from investors located in the United Kingdom, the United States and Singapore.

This third and final closing for the fund brought in an array of investor types, such as public and private pension funds, insurance companies, charitable foundations and family offices, with several contributing from specific impact investment allocations.

SoHo will contribute exclusively to the supply of newly built social supported housing to ease the shortfall in the provision of these properties. The strategy will forward-fund the development of new specialist supported housing units in the United Kingdom. Schroders said this is its first social impact real estate development strategy. CIM, an impact investment manager with £2.5 billion ($3.4 billion) of committed capital exclusively devoted to social impact projects, oversees property development