University of Edinburgh Pledges £1 Million to Support Charities, Social Enterprises Addressing Homelessness
The money will be invested through social investor, Social and Sustainable Capital’s Social and Sustainable Housing Fund II (SASH II).
SASH II is a socially positive investment fund that gives investors the opportunity to create societal benefits alongside a traditional financial return.
The fund works by providing loans to charities and organisations to finance the purchase of properties for social housing and grow their own portfolio – something that isn’t always possible without larger financial backing.
SASH II aims to achieve £125m in investments which would enable at least 30 organisations to provide homes for 10,000 people over the fund’s lifetime.
Life-changing impact
This new investment builds on the success of the University’s previous £1 million investment in Social and Sustainable Capital’s first social housing fund, SASH I.
SASH I launched in 2019 and has supported 20 social impact organisations across the UK.
Projects to receive loans from the fund included Simon Community Scotland, a charity which helps people at risk of homelessness in Edinburgh.
Using a £5 million loan from SASH I, Simon Community Scotland purchased 15 properties across Edinburgh, providing affordable accommodation for up to 30 vulnerable adults at risk of homelessness.
As values-driven institutions with commitments to social and civic responsibility, universities can use their finances to address social issues, whilst generating a return on investment. That has been the mission of our Social Investment Fund. We are delighted to support SASH II, having seen the positive impact that affordable housing can bring to vulnerable people here in our city and across Scotland.
Investment approach
The University of Edinburgh is recognised as a sector leader in social impact investing.
Launched in 2019, the University’s Social Enterprise and Social Investment Strategy included a commitment to invest £8 million in socially positive funds.
The University has already made significant progress and has so far invested £7 million in this way. Alongside SASH I and II, other groups to have received funding include Big Issue Invest, the investment arm of the Big Issue Magazine Group, and Prosper Social Finance, the UK’s first student-run socially responsible investment fund.